Monday, September 28, 2009

Everyone is overpaying for consultants: It's rally time!

Xerox pays about 20% too much for ACS and the market is giddy because we're back to the good old days. I was going to compare this to Sears buying Kmart, but that's a little harsh - ACS is actually a pretty solid company - but I just don't see the fit. I think Xerox looked around after Hewlett Packard bought Perot and realized they were the only guy at the dance without a girl so they grabbed the first free girl, ACS, that they could find. This is more like EBAY buying Skype or Time Warner buying AOL. It's just a stretch to think that there are any synergies between these companies.

Asian markets are continuing the rally tonight we'll watch it tomorrow.

This story really didn't make my day....

"The U.S. Northeast may have the coldest winter in a decade because of a weak El Nino, a warming current in the Pacific Ocean, according to Matt Rogers, a forecaster at Commodity Weather Group.

Weak El Ninos are notorious for cold and snowy weather on the Eastern seaboard,” Rogers said in a Bloomberg Television interview from Washington. “About 70 percent to 75 percent of the time a weak El Nino will deliver the goods in terms of above-normal heating demand and cold weather. It’s pretty good odds.”

Seriously, can it be any colder or snowier than the last couple of years? It's Sept 28th and I saw snow flurries in our local three day forecast. I'll be on for the rest of the night....

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