Grenville

Soap Opera: Amazon Moves In With P&G E-Commerce Giant Sets Up Shop Inside Warehouses of Suppliers http://online.wsj.com/news/articles/SB10001424052702304330904579135840230674458 Article talks about how Amazon is working inside supplier warehouses and highlights a 3yr relationship working with P&G in their warehouses.

Could the renters make it harder to sell the property? The renters may not be interested in having you sell the place once they move in and do the upgrades. Could they run interference when you're trying to show the property? Seems like their interest and yours aren't aligned. Can you get something in writing saying that they fully understand that you could potentially move them out in two months? Something that explains the verbal understanding you have versus the legalese in the renter's agreement. Just some thoughts, no experience in this arena.

Park City is the entity associated with John Cumming not Talisker. See here: http://www.parkrecord.com/ci_23966883/talisker-corporation-moves-evict-pcmr-matter-days

U.S. court rules in favor of Amazon in CIA contract dispute http://www.reuters.com/article/2013/10/08/net-us-amazon-ibm-ciacontract-idUSBRE9970NZ20131008

Nice 30min interview with Marc Lore and Vinnie Bharara founders of Diapers.com (Quidsi) http://www.npr.org/2013/09/18/223785364/marc-lore-and-vinnie-bharara-founders-of-diapers-com They talk about founding the business and the early years.

Enjoyed this, thanks! I liked the part about building something that suits you, towards the end of the interview.

Just watched and enjoyed it! Thanks.

Good information, thanks!

Any thoughts on why they are filing an S3 and the presentation. Are they raising capital or something else?

Thanks! Will be interesting to watch.

Article in TimesofIndia that discloses a 10% stake in IndiaInfoline "What's in BlackBerry buyer Prem Watsa's India kitty?" http://articles.timesofindia.indiatimes.com/2013-09-25/hardware/42391505_1_india-infoline-thomas-cook-prem-watsa From their website:

Interesting to see BDT, Byron Trott's firm advising Fairfax.

Haven't read it, but thanks for posting. I'd like to learn more about 3G.

I'm sure this helps Fairfax's interest:

My guess is they either redeem the prefs, start paying the pref div or the treasury dividend sweep gets reversed and capital is allowed to build on the balance sheet.

Nice short interview with Henry Paulson on the Fannie Mae bailout "Henry Paulson Defends Fannie Mae Bailout" http://blogs.wsj.com/economics/2013/09/06/henry-paulson-defends-fannie-mae-bailout/

It would be cool if Amazon can pull off a free or near free smart phone. "Amazon may offer upcoming smartphone for free. Who's next?" http://www.cnbc.com/id/101015435 Full story: "Exclusive: Amazon Wants To Offer Its Smartphone for Free. Who Will Follow?" http://jessicalessin.com/2013/09/06/exclusive-amazon-wants-to-offer-its-smartphone-for-free-who-will-follow/

He then followed it up today with a even more wildly optimistic post and hopefully placated the bulls. Thanks for posting. Looking forward to reading the valuation discussion & the comments.

Looking forward to the next few years! Awesome and unbelievable stuff

Agreed. Enjoyed the comments from the politicians.

New signage around 520 Madison, JEF HQ. If someone could confirm or share some pictures for us non NYers that would be great. "The Jefferies name is now all over 520 Madison Avenue" http://hereisthecity.com/2013/09/03/why-and-not-why-the-jefferies-name-is-now-all-over-520-madison-a/

nice interview, thanks for posting!

I'm curious due to my interest in Solar City's business model. Have you factored in insurance cost of something happening while they install the system on your roof or something happening to your roof during the life of the installation? Does Solar City recoup this cost through the installation or through the electricity rate they charge. Also is there a warranty or support cost that you get from their installation that last over the life of the installation? Apologize if I'm asking dumb questions but I'd like to understand the economics. Does Solar City offer multiple ways of financing the solar system? One is the one you're describing where you pay an upfront cost and own the system. The other would be a no upfront cost, but Solar City recoups the cost through the electricity billing from the installed panels. I also started listening to their Q2 CC and they mentioned a couple of things they offer that differentiate themselves from the competition. One was the software that they offer to improve energy efficiency. The other thing would be one customer service point for installation, maintenance, billing and other features tied to the electrical system. Also down the road do you get access to the Tesla battery storage system.

www.pacer.gov --> A very useful site! Thanks again for the info! Some information I found: 1) Fairholme has two complaints in the courts: Fairholme vs USA (US Court of Federal Claims) & Fairholme vs FHFA (District Court of DC, Similar to Perry) 2) There are three cases moving in parallel in the District Court of DC --> Allege violations of Administrative Procedure Act a. Perry vs Lew b. Fairholme v FHFA c. Liao v Lew (consolidation of 4 plaintiffs) 3) There are five cases moving through the US Court of Federal Claims against the US including Fairholme --> These allege an uncompensated taking under the Fifth Amendment I've found the both complaints for Fairholme and Perry Capital online. I have attached the initial complaint of Liao (not the consolidation). I haven't read the complaint from Liao or Fairholme, but I've read the Perry Capital one and it reads well. Let me know if we aren't allowed to post these complaints. I'm no legal expert so I might have my description of things off, I used the motion to stay in the Fairholme v USA case to summarize the two different courts. Liao_v_Lew_Complaint.pdf

Agreed! Great stuff, nice color on Lemann. I liked this quote about Heinz: "He also axed 11 senior executives and replaced them with top performers from inside the company."