 |
|
|
Russ Henke
|
Author: |
Russ Henke |
Created: |
3/2/2007 6:15 AM |
 |
|
Thoughts of interest to COFES and COFES attendees |
|
ANSYS Added to Russell 1000 Index |
|
|
By Russ Henke on
7/8/2008 9:07 AM
|
|
|
In the June 29, 2008 blog entry in this space, entitled, “Will the ‘Big 3’ EDA Vendors soon become the ‘Big 2’??”, it was parenthetically mentioned that MCAE vendor ANSYS was in the process of absorbing EDA vendor ANSOFT.
ANSYS and ANSOFT had agreed that ANSYS would acquire ANSOFT for a purchase price of approximately $832 million in a mix of cash and ANSYS common stock based on the 10-day trailing average closing price of ANSYS common stock prior to the original announcement of the pending transaction on March 31, 2008.
ANSYS received SEC clearance for the ANSOFT acquisition on June 23, 2008. A special meeting of the ANSOFT stockholders to approve the transaction has been set for July 23, 2008.
Meanwhile, on July 8, 2008, ANSYS announced that it has been listed on this year's Russell 1000(R) stock index. ANSYS was one of six companies in the technology sector just added to the Russell large-cap index.< ...
|
 |
|
Comments (0)
|
More...
|
|
|
Will the ‘Big 3’ EDA Vendors soon become the ‘Big 2’ ?? |
|
|
By Russ Henke on
6/29/2008 7:43 AM
|
|
|
Mergers & Acquisitions are hardly rare in the world of Computer Aided Engineering (CAE) or Computer Aided Design (CAD). Indeed, seldom does a quarter pass without one Electronic Design Automation (EDA) vendor buying another. The same is true in the Mechanical CAE and Mechanical CAD/PLM industries.
Indeed, being acquired by one of the top three vendors in EDA or in MCAD is a favorite exit strategy for small start-ups that develop a specialized or breakthrough technology. This exit path is especially attractive as the IPO market for venture-backed companies dries up.
While EDA companies usually buy smaller EDA companies, and MCAD companies likewise, it’s not unheard of for crossover to occur. For example, MCAE vendor ANSYS recently acquired EDA vendor ANSOFT.
More unusual, however, is for one of the leading EDA or MCAD vendor companies to acquire one of the other members of their respective oligopolies.
|
|
|
|
Comments (1)
|
More...
|
|
|
Just in time for the 2008 Summer Solstice |
|
|
By Russ Henke on
6/19/2008 5:12 PM
|
|
|
The latest the AP-Ipsos survey results are just in, measured in mid-June. And guess what! More Americans than ever say the country is going in the wrong direction! Seventy six percent (76%) now say the country is definitely on the wrong track. That's up from 71% in April and 66% near the end of 2007.
Some 17% still (inexplicably) insist that the country is going in the right direction. That’s the lowest percentage of die-hards ever recorded by the survey.
The overall level of US pessimism is the worst in almost 30 years, worse than Bush 43’s first recession, worse than Bush 41’s recession, and worse than Reagan’s economic dips. Consumer confidence alone is now the lowest it’s been in 28 years. Most blame the current rising food and gas prices, falling home values and unending war. Imagine that! Asked about Bush 43’s handling of the US economy, 72% said they disapproved.
"Fo ...
|
|
|
|
Comments (4)
|
More...
|
|
|
EEK !! – US Economic News keeps getting worse… |
|
|
By Russ Henke on
6/8/2008 10:16 AM
|
|
|
Friday June 06, 2008 marked the latest low point in the steadily sinking US economy of Bush 43’s second recession, with a one-day triple dose of bad news.
Ongoing unregulated speculation and still more Middle East tensions (e.g. an Israeli official threatened military action against Iran's nuclear installations) drove the price of a barrel of crude oil to a record level above $138, up 13% in just two days. On June 06 alone, crude-oil prices spiked $10.75, the largest one-day gain ever recorded.
Regular gas, now at a record $4.00 per gallon average across the country, will surely and quickly follow the oil spike (CA regular is already at $4.40 per gallon). Ordinary US citizens are not the only ones being squeezed. Truckers and airlines are also suffering. Indeed, any businesses that use raw materials made from oil, like tires, toiletries, paper towels, bath tissues, plastic packaging, paint, mobile phones, light bulbs, cus ...
|
|
|
|
Comments (2)
|
More...
|
|
|
Bear Stearns disappearing into JP Morgan Chase |
|
|
By Russ Henke on
6/1/2008 10:23 AM
|
|
|
The most recent blog entry in this space dealt with Topic #4 from the following May 29 news list:
1. Scott McClellan’s new memoir about the Bush 43 White House
2. Bear Stearns disappearing into JP Morgan Chase
3. SPAM sales on the rise
4. Q1 GDP being revised up from 0.6% to 0.9%
Today we’ll tackle Topic #2.
On May 29, 2008, Bear Stearns and JPMorgan Chase announced that the stockholders of Bear Stearns, at a special May 29 meeting, approved the merger with JPMorgan Chase. Approximately 84% of shares voted in favor. The merger closed on May 30, 2008. Each outstanding share of Bear Stearns common stock was converted into 0.21753 shares of JPMorgan Chase common stock, and Bear Stearns became a subsidiary of JPMorgan Chase. Also, the NY Federal Reserve Bank and JPMorgan Chase agreed that they will complete the previously-announc ...
|
|
|
|
Comments (0)
|
More...
|
|
|
May 29 News |
|
|
By Russ Henke on
5/29/2008 5:01 PM
|
|
|
So many things to comment on today; too little time…
1. Scott McClellan’s new memoir about the Bush 43 White House
2. Bear Stearns disappearing into JP Morgan Chase
3. SPAM sales on the rise
4. Q1 GDP being revised up from 0.6% to 0.9%
5. …and many more
We’ll leave most of these to another time soon, although #3 is immediately tempting, mostly due to Monty Python and to the fact that dinner time is near.
No, today we’ll talk about #4.
I just have one question: Do you feel luckier, now that the Q1 GDP was actually 0.3% higher in Q1 2008? Well, do ya?
Not I !!.
The number of US jobs lost in Q1 2008 remains at 240,000. There were still 7.6 million US people unemployed at the end of Q1, up from 6.8 million unemployed only a year earlier, and est ...
|
|
|
|
Comments (0)
|
More...
|
|
|
Break out the Champagne? |
|
|
By Russ Henke on
5/27/2008 4:54 PM
|
|
|
On Tuesday May 27, 2008, the price per barrel of oil dropped from the mid-$130’s that it “achieved” last week, to end trading below $129. Hallelujah?
Well, maybe not! Just as General Petraeus recently warned us all to keep the champagne in the back of the fridge when it comes to IRAQ, maybe likewise we’d better hold off on the “economic toasting” for awhile.
Because the latest economic news is not good, my friends.
While the price of oil did close down a few percentage points on May 27, US average gas prices hit another record high at almost $3.94 a gallon of regular, according to a survey of stations by the AAA and the Oil Price Information Service. Now, enterprising thieves have added puncturing gas tanks and gas lines to steal gasoline to their previous nefarious methods of either siphoning gas, or just driving off without paying after fill ups at gas stations.
While the Dow ticked ...
|
|
|
|
Comments (0)
|
More...
|
|
|
Economic Data Continue Grim |
|
|
By Russ Henke on
5/18/2008 4:48 PM
|
|
|
Here are a few more data points that have emerged since the last blog entry in this space:
In 1993, the richest 1% of American families pocketed 14% of the nation’s income. By 2006, their slice had grown to 23%.
In a new US corporate IT spending survey by ChangeWave Research in April 2008, 25% of the respondents said their company will spend less on software in coming months. This figure is 3 points higher than a study ChangeWave conducted in January and 11 points higher than one completed in October 2007, indicating a deepening trend.
Consumer prices increased a hefty 0.6% in April 2008, the US Labor Department said on May 15, 2008, if you take out seasonal adjustments. Of course, if one does not eat or drive (i.e. ignoring price increases in food and gas), April consumer prices increased only 0.2%. During the last 12 months, overall consumer prices increased 3.9%. Food alone has risen 5.1%; gaso ...
|
|
|
|
Comments (2)
|
More...
|
|
|
April Jobs Report – the Worst is Over! |
|
|
By Russ Henke on
5/3/2008 8:23 AM
|
|
|
Yesterday, May 2, 2008, the US Labor Department issued its monthly Jobs Report for April 2008. The Report estimates that “only” 20,000 more US net jobs were lost in the month. Hey, the recession is over, right?
Not so fast!
Lest we forget, April marked the fourth consecutive month of declining US jobs. During that 4-month period, 260,000 net jobs were lost –- an average of 65,000 jobs lost per month. Since it takes 127,000 new jobs every month just to stay even, that means the US has fallen behind some 192,000 jobs in each of the last four months, or 768,000 for the 4-month period.
And as usual, April’s mix of jobs lost & gained was telling: 46,000 US manufacturing workers were laid off last month; 326,000 such positions have been lost over the last year. Construction lost 61,000 jobs. In April alone, that’s 107,000 more workers lost in these two key wealth-producing sectors where ...
|
|
|
|
Comments (0)
|
More...
|
|
|
"Slowdown" or "Recession" ?? |
|
|
By Russ Henke on
4/25/2008 6:31 AM
|
|
|
Despite mounting evidence to the contrary, the current administration continues to deny that a recession is abroad in the land. Just a few days ago, Bush 43 rejected claims that the nation was in a recession, instead saying only, “We are in a slowdown.”
If the economic facts in my April 23, 2008 blog entry were not enough, here are some more depressing data points on the US economy --- data just released late on April 24:
Sales of new homes dropped by 8.5% last month to a seasonally adjusted annual rate of 526,000 units, the slowest sales pace since October 1991 (during Bush 41’s reign). The median price of a new home sold in March 2008 dropped by 13.3% compared with March 2007, the biggest year-over-year price decline since a 14.6% fall in July 1970 (during Nixon’s first term).
New home sales were down in all regions of the country in March 2008: Northeast minus 19.4%, West minus 12.9%, Midwest minus 12.5%, and South minus 4.6%.< ...
|
|
|
|
Comments (1)
|
More...
|
|
|
|
|
|