By David Sterman Every Monday, I like to look at all the stocks that saw fresh rounds of insider buying in the previous week. Such so called insider buying can alert you to undervalued stocks before most investors take note. That's because insiders (defined as any officer or director of a company, or any investor that owns more than 5% of the company's stock) have deep insights into how a business performs. Securities and Exchange Commission. Most weeks, I am lucky to find one or two intriguing insider purchases that merit further research. But I noticed an unusual cluster of buying last week. At least two separate insiders stepped in to buy up large chunks of stock at three different retailers. Taken together, insiders at these companies snapped up more than $8 million in stock in last week. Investors have been selling off retail stocks throughout the summer, and these retailers seem to have been especially hard hit. Let's take a deeper look to see which one of these stocks holds the most appeal right now. Office Depot Looking over my notes, here's what I wrote back in April: "Analysts at Jefferies have a bit of egg on their face today after talking up shares of Office Depot (NASDAQ:ODP) on Monday. The analysts' bullish preview of first quarter results pushed shares up above $9 on Monday to a 52 week high on an intra day basis. Shares gave back all of those gains and more in Tuesday trading, as sales and profits missed estimates." Not only did shares of this office supply store fall on that late April morning, but they've fallen ever since and are now below $4 roughly the same price they traded for back in 1993. Simply put, rival (NASDAQ:SPLS) has taken Office Depot to the cleaners. Shares of have risen more than +2,000% since 1993. has delivered more appealing stores, generated higher sales per store and has been vastly more profitable. And when you see how investors are valuing each of these companies, you start to see a stark disconnect. For example, sports an EV/sales ratio of 0.66, while Office Depot has an EV/sales ratio of just 0.10. And is valued at a+ 40% premium in terms of EBITDA to sales.(Nasdaq: SPLS) Office Depot (NYSE: ODP) Recent Price $19.49 $3.98 Market Cap ($M) $14,230 $1,100 Enterprise Value ($M) $15,928 $1,235 2009 sales $24,275 $12,144 Enterprise Value/ 2009 Sales 0.66 0.10 2009 Gross Margins 26.7% 27.9% 2009 Operating Margins 8.0% 2.2% 2009 EBITDA ($M) $1,382 $212 2009 Free Cash Flow ($M) $1,534 $166 2010 Sales Growth +2% +5% 2010 EV/EBITDA 11.5 5.8 2010 Free Cash Flow Yield 9.6% 13.4% The gap is understandable. While both retailers generate 27% to 28% gross margins, does so with a vastly more efficient overhead and can generate solid 8% operating margins, whereas Office Depot hasn't been able to generate positive operating margins since 2007. (Though the company would have generated about $200 million of operating profit in 2009 were it not for some one time charges.) But changes are afoot, which explains why the company's insiders bought a collective $1 million in stock last week. There is little that Office Depot can do to improve sales until the economy improves and unemployment drops, but management can certainly squeeze more profits out of the business. And that process has already started. Gross margins have risen in each of the past four quarters and are up more than 100 basis points from a year ago. Operating expenses are on track to drop about $300 million this year, which should push EBITDA from around $200 million last year to around $300 million this year. Analysts at Citigroup expect further costs cuts to boost EBITDA to around $400 million in 2011 and $500 million in 2012. The company is valued at about 2.5 times that 2012 forecast. And while the company generated negative free cash flow in June, 2009, free cash flow improved to $62 million in the most recent quarter. Office Depot used to generate more than $400 million in annualized free cash flow, until a disastrous acquisition in Europe sapped all those earnings. These days, free cash flow is likely to be in the $100 million to $200 million range, but could perk back up above $300 million once the economy starts to add jobs. As the entire company is valued at just $1.2 billion on an Enterprise Value basis, $300 million in free cash flow translates into a free cash flow yield of 25%. It will take a few years to get back to that free cash flow level, but will require only a small rebound in sales and continued operational streamlining. You can understand why insiders are so bullish, even if investors are not. American Eagle Outfitters (NYSE:AEO) This retailer has also played second fiddle to a rival, which in this case is Abercrombie Fitch (NYSE:ANF). While Abercrombie has a reputation for premium clothes, American Eagle is seen as a value focused retailer, and has weaker profit margins to show for it. And teens have been cool to the company recently. Sales growth routinely exceeded +20% annually in the middle of the past decade, but have turned flat during the past few years and few analysts expect sales to rebound in the near term, while the economy remains in a funk. In its favor, American Eagle has nearly $600 million in net cash ($3 a share), which helped fuel a 10 million share buyback last quarter. Shares trade for a very reasonable 3.6 times projected 2011 EBITDA roughly 20% less than its peers. It's also noteworthy that the company's Chairman, Jay Schottenstein, just bought nearly $7 million worth of stock with his own money. But it's hard to get excited about the company's near term outlook since it doesn't trade at such a sharp discount to rivals. Down the road, that mega purchase is likely to make the chairman a lot of money, but insiders often arrive early to a party with their bullish buying activity. In this case, Mr. Demand for shoes has been very weak, and sales are unlikely to rebound sharply until the economy turns up. The shares were likely oversold, and have risen for five straight sessions likely propelled by investors that have noted the recent $600,000 in insider purchases. Even as management can do little to boost sales right now, it can improve Collective Brands' financial performance. The company acquired the Stride Rite business in 2007 in hopes of gleaning real synergies. Payless would gain access to Stride Rite's impressively lean wholesale shoe operations, and Stride Rite would benefit from Payless' solid logistics and real estate expertise, according to analysts at Morningstar. Those gains have been elusive, but they should still be evident in time and help boost margins. If he's right, then shares of Collective Brands have considerable upside. Shares trade for about seven times trailing free cash flow (which translates into a 14% free cash flow yield). Brown Shoe, the company's closest rival trades for more than 10 times free cash flow. And as noted above, Collective Brands has several paths to improved financial results, which should fuel higher free cash flow, even if sales growth remains anemic. While insiders at American Eagle Outfitters appear to need a lot of patience to make their big bet payoff, Office Depot and Collective Brands may start to win back investors by delivering improved expense control and higher cash flow. Office Depot looks to have considerable upside, perhaps +100% or +200% if management can stay focused on squeezing out costs. Men Nike Free Run 4.0 V3 Wolf Grey White Hyper Blue ,Nike Roshe Run Men Grey Blue Quilted Men Nike Free Run 4.0 V2 Dark Obsidian Silver Soar Blue Women Nike Free Run 3 Soar Blue Rflct Silver Pro Platinum Volt Women Free Run 3 Prism Blue Reflective Silver Pure Platinum Volt Men Nike Free Run 3 Tiffany Blue Volt Nike Roshe Run Men Red White Nike Roshe Run Men Black White Women Nike Free Run 3 Fireberry Electric Green Men Nike Free Run 4.0 V2 Dark Obsidian Silver Soar Blue , THE CANADIAN PRESS OTTAWA New Democratic Party leader Thomas Mulcair says he's "very open" to the Harper government's proposed Canada European Union trade deal as long as concerns in areas such as prescription drug prices and public sector procurement are addressed. Mulcair said the NDP will view the accord, if it is reached, through a far different lens than the Canada China investment protection agreement that his party vehemently opposed. He said that Europe, unlike China, has laws on human rights, the environment and labour practices that are at least as advanced as Canada's. "You're looking at 500 million people (in the EU) who evolve in a similar universe as ourselves," he told The Vancouver Sun. "So we're very open to it, but we're going to look at it critically." Mulcair's comments risk drawing the wrath of labour, environmental and left wing nationalist groups that have vehemently opposed free trade deals. NDP leader Adrian Dix who earlier this week openly disagreed with Mulcair on national unity. But Mulcair is attempting to make his party once viewed as a left wing protest movement more attractive to a broader cross section of Canadians, including some who believe the NDP is too tightly aligned with groups hostile to the private sector. Mulcair, in an interview where artwork on the walls and tables pays homage to former NDP leaders Tommy Douglas and Jack Layton, noted that he can't comment in any detail on an agreement that is still in the final stages of negotiation and therefore not public. In addition to concerns about drug prices and government procurement, Mulcair said the NDP will also weigh whether the trade deal will have an overall negative impact. Free Trade Agreement was stuck "you've seen a drop in the revenue of the middle class in Canada," he said. "The top 20 per cent have seen their revenues increase, the other 80 per cent have actually seen a drop. "So that's a part of the analysis that's always going to have to be done. Free Trade Agreement and the 1994 North American Free Trade Agreement. The party's long standing position led to an allegation last October by International Trade Minister Ed Fast, the MP for Abbotsford, that the party is a leading member of Canada's "great free trade denier" movement. Mulcair stressed that, like Dix, he has significant concerns in areas such as prescription drugs and procurement. The EU, on behalf of major European multinational corporations, wants greater patent protection for brand name drugs and a greater ability for companies to bid on contracts let by provincial and municipal governments and public institutions like hospitals, school boards, and utilities. Dix, among other critics, has regularly cited a 2011 academic study sponsored by the generic drug industry which said Canadians would pay an extra $2.8 billion annually if Europe's demands are met. Mulcair said the Harper government could easily resolve this concern. "That's the easiest one for the federal government to fix, if ever they wanted to move in that direction, because they could compensate the provinces for the loss." Mulcair's messaging on trade is part of a broader strategy, evident since he became leader last spring, to squeeze out the centrist Liberal party and give the NDP a shot at forming government in 2015. Mulcair focuses largely on economic issues in question period and has personally avoided potentially controversial "protest" events, from the Quebec student protests last year to Attawapiskat Chief Theresa Spence's liquid only fast. He cited as an example unflattering video footage of Quebec separatist Premier Pauline Marois, when she was official Opposition leader, banging two kitchen pot lids together last year during the so called "casserole" protests in support of students upset about tuition hikes. "I think people are expecting someone who sees themselves as the leader of a government in waiting to understand the issues, to speak passionately about them, to work with his MPs to make sure that these issues are understood by the public, but to stay with the same image which is actually a physical example to not necessarily the one banging casseroles." The NDP has caused some angst among left wing groups for not simply coming out and opposing Canada EU free trade. Party insiders recognize the NDP could lose longtime supporters and not necessarily gain voters elsewhere by endorsing free trade. Mulcair repeats like a mantra his goal of convincing Canadians the federal NDP is capable of providing "good, competent public administration," and last month brought provincial NDP leaders including the premiers of Nova Scotia and Manitoba to Ottawa to underscore that point. The NDP's breakthrough election in 2011, he said, needs to follow through with a major effort to convince Canadians the party is competent. He said a key asset will be MPs like Vancouver Island lawyer Murray Rankin, recently elected in the byelection in Victoria. The bilingual Rankin, according to Mulcair, has a "phenomenal" background as an environmental lawyer and law professor. Men Nike Free Run 4.0 V3 Wolf Grey White Hyper Blue,Edgy fashion is like the rebellious child of the style family. The aesthetic challenges the status quo, the elite and the dominant culture. It's the antithesis of preppy, ladylike tweed Chanel suits, anything too clean cut. Edgy outfits derive their appeal from underground countercultures, street styles, pioneering icons in the music or movie industry and many other nontraditional sources. These fashions endure as more of a lifestyle for certain communities than a passing fashion fad, though pieces of edgy styles often cross over into mainstream culture. Bold and provocative, edgy fashion experiments with styles that haven't been done before. It's closely associated with the avant garde art movement after World War II. Over the next few decades, the conversation of what was next in self expression oscillated between "high" and "low" culture. The apparel inspired by 1960s youth counterculture, punk rock and hip hop are a few examples. This idea of pushing artistic boundaries, especially in an intellectual context, is often characterized as "cutting edge" or "edgy." Clothing designers such as Yohji Yamamoto (See Reference 3) and Jean Paul Gaultier are well known in the fashion world for their resistance to established norms. According to a "Women's Wear Daily" review, Yamamoto's 2013 ready to wear fall collection exemplified his dark, "melancholy" aesthetic with a line of all black dresses and asymmetrical separates. Gaultier also displayed unconventional outfits in his 2013 collection, influenced by gold leather pants, rock 'n' roll and music icon Ziggy Stardust. Other entertainment industry icons that influenced edgy fashion include David Bowie, who popularized the androgynous look of glam rock and Lady Gaga, who shocked onlookers with ensembles such a dress made of meat. A few trendsetters dare to incorporate obscure or edgy fashions into their everyday outfits. Street style blogs such as The Sartorialist capture the street style of such fashion visionaries. They take their cues from a variety of pop culture and graphic design elements. This includes women's clothing inspired by tailored menswear, the retro mod minidresses of the '60s and prints in contrasting colors and geometric shapes. One of the most popular street style looks pays homage to rock and roll subcultures, including biker chick or goth details such as leather jackets, studs, striped pants, ripped jeans and black lace. As famed French fashion designer Yves Saint Laurent once said, "Fashions fade, style is eternal." To truly be edgy, fashionistas are open to wearing bold shapes, colors and designs before anyone else thinks to wear them. Their head to toe style is an extension of their personality. A new hairdo is one way to channel edgy fashion, such as boyish pixie haircuts in a dramatic platinum blond or jet black hue. Another way to be edgy is to find variations on one basic garment or accessory. For example, instead of blue jeans, try skinny black jeans for an urban rocker look or tapered menswear inspired slacks. Or, mix a leather jacket with an unexpected sweet and girly piece, such as a lace dress. Cut outs, monochrome outfits and an asymmetrical hem also spice up plain outfits. The trick is to experiment with styles you've never tried before.
Big Discount For Big Order Men Nike Free Run 4.0 V3 Wolf Grey White Hyper Blue,Women Nike Free Run 3 Soar Blue Rflct Silver Pro Platinum Volt stubborn. We butt heads, said Jan. both used to doing things our way, and the more the other pushes, the more we dig in our heels. lot of couples bring me this problem in their first marriage counseling appointment. Maybe you can relate. Bill was sitting on my couch, one puzzled man. Jan was so upset that Bill wouldn take out the garbage for her that she was in tears. is the garbage my job? he asked. about the boys? We always looking for ways to teach them more responsibility. Make them put down their joysticks and take it out. always thought of it as the man job. why? Since when have we had girls jobs/boys jobs? Maybe I shouldn do the grocery shopping any more. That looks like a woman job to me. I want you to do it. The tears flowed harder. WHY? agree that Jan certainly sounds stubborn! But look harder and you find her stems from her emotional desires. At any given moment, all of us are pursuing a desire. Say you want something concrete, such as a new pair of shoes. Maybe you actually need to replace a pair that wore out. But usually your concrete desire also represents an emotional desire. Ultimately, you do everything you do because you want to experience a certain feeling. Maybe you want the shoes so you can you can walk all over without getting tired and that makes you feel healthy and strong. Or maybe you want to feel sexy and fabulous in your strappy heels. We don give up on our emotional desires easily. And we shouldn They the basic motivations that drive us in life. So, if you feel like your partner is standing in the way of you getting a desire that dear to your heart, you going to get Probably without understanding what you doing. Your ticket to breaking the gridlock and getting you both what you need is to keep digging until you figure out what that desire is. It turned out Jan was driven by an intense emotional desire about the garbage. Her father had been wildly irresponsible. He had a terrible temper and you never knew what kind of mood he be in. He moved the family from town to town, and the kids never even knew why. Jan attended six schools before she graduated. were only a few times I can remember when I felt safe and secure, like I was being taken care of. One of those was when my dad would come home from work, put on his old clothes and take out the garbage. He did that every night. It makes me feel taken care of when you do it, too. was holding Jan hand and his expression had softened. me guess, is that why you like me to put gas in your car? Jan smiled. The next time they came in, Bill said, can believe it. We haven had any more garbage arguments. After fighting about it for months. shrugged. only the garbage. I don mind taking it out. emotional desires were security and being taken care of. She felt like those desires were satisfied when Bill took out the garbage. But interestingly, she felt like they were even more satisfied when those desires were deeply understood by Bill. It would have been easy for Jan to stick with blaming Bill for how upset she felt, or for Bill to brush off Jan concern as silly. Instead, they stayed curious about what Jan feelings meant and got to the bottom of the problem. The next time your partner is being try asking questions such as: Why is this so important to you? What does this mean to you? And the best question of all: What is it you really want? (Said with love.) This won always make issues vanish into thin air. (If only!) But it happens a lot more than you might think. After all, our most important desire of all is to be really understood by our most important person of all. When that need is met, you might be surprised at how much your partner can compromise. Men Nike Free Run 4.0 V3 Wolf Grey White Hyper Blue "I just met these people that morning," she said. "But within a few miles, you're each other's inspiration. You have so many other people saying you can do it. I may not ever see those people again, but for those 13.1 miles, they were my best friends, and it really helped." Additional Information: Keeping pace . Anyone running in either the Pittsburgh Marathon or half marathon on May 2 can join a pace group free of charge. They will have several pacers running the full 26.2 miles in times ranging from three hours and 10 minutes (7:15/mile pace) to five hours (11:27/mile), and the 13.1 mile half marathon from one hour 50 minutes (8:24/mile) to two hours 20 minutes (10:40/mile). If you aren't sure what group you should be in, go to the pace team booth at the Expo, and they'll help you figure it out. On race day, just look for the runner holding the sign matching your goal time. We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information. While most comments will be posted if they are on topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers. We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers. We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites. We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation. We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly. We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article. Print Source Welcome to PrintSource, a division of Trib Total Media. We have established a veteran team that provides daily and weekly newspaper companies with a comprehensive set of services that include design, print, packaging and delivery of their products, all from one source and location. Gone are the days when each facet of newspaper printing and delivery had to be outsourced to different companies and venues. Now, PrintSource provides a viable solution with just one phone call.
Orders Over 99 For Freeshipping Men Nike Free Run 4.0 V3 Wolf Grey White Hyper Blue You Can Find The Latest Style
Nike Roshe Women Grey Black New Green
Nike Roshe Run Men Iguana Black
Men Nike Free Run 3 Sequoia Electric Green
Nike Roshe Run Men Black Total Orange
Men Nike Free Run 3.0 V4 Black Gym Red Wolf Grey
Nike Roshe Run Men Black White
Men Nike Free Run 4.0 V2 Cool Grey Reflective Silver Black
Women Nike Free Run 3.0 V4 Light Bone Reflect Silver Iguana Quilted
Men Nike Free Run 2 Bright Loyal Blue Pure Platinum White
Men Nike Free Run 3.0 V4 Black Gym Red Wolf Grey