I worked a bit on the site today. I made three significant changes that are worth noting.
First, we have a new logo. It’s just a percentage sign with a slight Web 2.0 reflection. I just had not found the time to work on the site since putting it up. Gimp is an amazing free tool.
To some it comes as a surprise, to others it was inevitable. Citigroup (C) did cut its dividend by 41% today thanks to a record loss of $9.83 billion, yes I said billion. Where do they go from here?
The market gained ground today on good earnings news from IBM. However, Big Blue couldn’t help pull the Thoroughbred Folio into positive ground.
The financial stocks continue to decline amid a subprime meltdown. It seems the defaults in the subprime markets has taken a toll on not only the big players, but also the smaller regional banks like Regions Financial (RF). Residential real estate has slowed to a crawl. KB Homes (KBH) reported a $9.99 loss per share and a 32% decline in revenue. Where do we go from here?
Checking in on the Thoroughbred Folio, the market has not been kind to many over the last week and we are no exception. There was some action in the Folio this week as Synovus (SNV) spun off Total System Services Inc (TSS). We received a total of 1.53659 TSS shares. I made adjustments to the cost basis for SNV and added TSS to the Folio. So how bad was this week for our Thoroughbreds?
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