Looking back at my recent posts on Sears Holdings (SHLD), I may have left the impression that improving same store sales trends are necessary to drive the stock higher. Just to be clear, Northlake’s long position in (SHLD) has never been about sales. It has been about free cash flow generation over the 2006 and […]
According to data from TNS Media Intelligence, advertising spending in the U.S., excluding paid search, fell by 0.3% in May 2006. According to TNS, this is the first comparable monthly decline since the advertising recovery began in May 2002. Network TV and newspapers suffered the biggest declines during May. Areas showing growth included non-search Internet […]
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