October 31, 2008
Sounds easy enough. But I didnt find out what the rule was untill I started reading Phil Town’s book “Rule #1, The Simple Strategy for Successful Investing in only 15 minutes a Week!”
Im not finished with the book yet but I can tell you this. Its very easy to understand his thought process. Phil Town has broken down his strategy in a way that normal people, like us hunters can understand.
Phil has a few things in common with us hunters. First off before becoming a successful Investor, he was a river guide. He loves being outdoors like us. Another trait he has or actually had, was he was letting his mutual fund manager worry about his retirement nest egg.
In his book he shows us how he turned $1,000 into $1 million in only five years then proceeded to make many millions more!
So Im half way through the book and tomorrow I’ll be reading a few more chapters while sitting in my treestand. All though, I may not have to much time to read. The rut in coming into full swing this week (I think cause the signs are there) and I hope the action is hot this weekend.
So I’ll be doing my home work in the treestand. Later,
October 31, 2008
Answers for people who are new to capital gains and losses.
We all start with zero knowledge and go on from there. Here are some basic questions people sometimes ask about capital gains, along with answers.
Q: My stocks went up but I didn’t sell yet. How much gain should I report?
A: None! As a general rule you don’t report capital gain or loss until you sell. There are exceptions, such as when you receive capital gain distributions from a mutual fund.
Q: I bought stock for $1,000 and sold for $1,200. My gain was only $200 but my broker reported $1,200 to the IRS. Help!
A: Brokers don’t report the amount of gain. They report the amount you received on the sale. It’s up to you to report the sale properly on your return, indicating the correct amount of gain or loss.
Q: Does a capital gain increase my income?
A: There’s a vague notion out there that capital gains aren’t income because they’re taxed at their own special rates. Folks are hoping, perhaps, that capital gains won’t count when they determine whether they can deduct an IRA contribution, or how much of their social security benefit is taxable, or how much of their exemptions are phased out, among other things. Unfortunately, capital gains are income. A special calculation provides the lower capital gains rate, but doesn’t remove capital gains from your overall income (or adjusted gross income).
Q: Does a capital loss reduce my income?
A: As a general rule, you can deduct capital losses up to the full amount of your capital gain plus $3,000. If your capital losses exceed your capital gains by more than $3,000, the excess is carried forward to the next year.
Q: I’m in the 15% bracket. Why do I have to pay 28% on some of my capital gain?
A: You don’t. If you have a 28% capital gain, you pay your regular rate or 28%, whichever is lower. The same is true for a 25% gain.
Q: I’m concerned that a capital gain will push my other income into a higher tax bracket. Doesn’t this mean the real cost of a capital gain is higher than it appears?
A: No, capital gain is “stacked” on top of your other income, so it won’t push the other income up into a higher tax bracket. As we pointed out earlier, a capital gain increases your income, and that could cause you to lose a benefit somewhere. For example, your exemptions or itemized deductions might be reduced when you have a capital gain. So there can be some indirect tax costs when you have a capital gain. But your other income stays in the same bracket when you have a capital gain.
Q: My mutual fund reported that I sold shares even though I didn’t take any money out! Why?
A: If you move money from one fund to another within the same family of funds, you’re selling one fund and buying the other. If the first fund went up before you made the move, you have to report a gain and pay tax on it. Consider the tax consequences before moving money to a different fund, even within the same family of funds!
Q: I had capital gains in my IRA. How much tax is owed, and who has to pay it?
A: Until you take the money out, the answer is no tax. But when this money comes out of your IRA, you’ll have to report it as ordinary income — not capital gain. Of course, if you have a Roth IRA and meet all requirements you’ll pay no tax at all.
Q: I have some stocks that went up, and I’m ready to sell. I want to transfer them to my son and have him sell them because he’s in a lower tax bracket. Does this work?
A: Not if you’re planning on getting the money back from your son. If you make a legitimate gift, and don’t get anything back, then the gain will be taxed on your son’s return. Even then, the tax might not apply at a lower rate because of the “kiddie tax.” And you need to be aware of potential gift tax consequences, too.
Q: I have some stocks that went down, and I’m not ready to sell because I think it’s going back up. Can I sell it for the loss and then buy it back right away?
A: You won’t be able to deduct the loss if you buy back right away, because of the Wash Sale Rule. You need to wait at least 31 days before buying the same stock again if you want to claim a loss.
October 31, 2008
Cooper, founder and part owner of Cooper Firearms, told USA TODAY in a story published Tuesday that he has voted for Republicans for most of his life, but he is backing Obama “probably because of the war. And also because the Republican Party has moved so far right in recent years.” Cooper said he was attracted to the Democrat’s message about “the retooling of America, which involves the building of middle-class jobs and helping American small business be competitive with those overseas.”
Cooper contributed $3,300 to Obama’s presidential campaign, according to election records complied by the non-partisan CQ MoneyLine.
The USA TODAY article sparked outrage from some gun owners and bloggers, including an open letter on a blog called Firearms and Freedom, urging people to boycott the company’s products. Many gun enthusiasts believe Obama will try to restrict their right to bear arms, although he has said he respects the Second Amendment.
To read the rest of this crap click here on USA Today,
October 31, 2008
Temecula, California — Outdoor Channel Holdings, Inc. (NASDAQ:OUTD) reports increases in total revenues of 18.2 percent and 12.8 percent, respectively, for the three- and nine-month periods ended September 30, 2008.
Total revenues from continuing operations amounted to $15.0 million for the 2008 third quarter, compared with $12.7 million in the corresponding period a year ago. For the first nine months of 2008, total revenues from continuing operations equaled $39.7 million, compared with $35.2 million in the 2007 nine-month period.
Advertising revenue for the 2008 third quarter rose 32.3 percent to $10.5 million from $7.9 million in the prior-year period. For the first nine months of 2008, advertising sales rose 27.2 percent to $26.6 million from $20.9 million in the first nine months of 2007.
Subscriber fees totaled $4.5 million for the third quarter of 2008 and $13.1 million year-to-date. This reflects reductions of 5.4 percent and 8.2 percent, respectively, from $4.7 million and $14.3 million in the 2007 third quarter and nine months. The company attributed the reductions in subscriber fees to the successful completion of carriage negotiations with the majority of its distributors during the preceding year.
“Our strong third quarter financial performance demonstrates our continued progress in implementing our growth strategy and building upon our leadership position in outdoor TV,” said Roger L. Werner, President and Chief Executive Officer. “During the quarter, we generated double digit advertising growth, as we continued to capitalize on our audience gains and improved programming. Looking ahead, we remain focused on further strengthening our brand, monetizing our audience growth, maximizing our distribution relationships and expanding our digital presence.”
Outdoor Channel Holdings posted net income of $2.4 million, or $0.09 per diluted share, for the 2008 third quarter, compared with a net income of $1.5 million, or $0.06 per diluted share, in the prior-year period. For the 2008 nine-month period, the company posted net income of $1.9 million, or $0.07 per share, compared to a net loss of $299,000, or ($0.01) per share, for the first nine months of 2007.
Earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for the effects of discontinued operations and share-based compensation expense, amounted to $5.4 million for the 2008 third quarter, compared with $3.1 million in the prior-year period. For the year-to-date period, EBITDA, adjusted for the effects of discontinued operations and share-based compensation expense, equaled $7.0 million, compared with $8.0 million for the first nine months of 2007.
Investor Conference Call Outdoor Channel Holdings’ management will host an investor conference call today, October 30, 2008, at 2 p.m. PDT (5 p.m. EDT) to review the company’s financials and operations for its 2008 third quarter ended September 30, 2008. Investment professionals are invited to participate in the live call by dialing 800-659-1942 (domestic) or 617-614-2710 (international) and using participant passcode 70817379. The call will be open to all other interested parties through a live, listen-only audio Internet broadcast in the Investor Relations section of the company’s Web site, www.outdoorchannel.com. For those who are not able to listen to the live broadcast, the call will be archived on the web site for one year. A telephonic playback of the conference call also will be available through 5 p.m. PDT (8 p.m. EDT), November 6, 2008, by calling 888-286-8010 (domestic) or 617-801-6888 (international) and using participant passcode 23551543.
About Outdoor Channel Holdings, Inc.
Outdoor Channel Holdings, Inc. owns and operates Outdoor Channel, America’s leader in outdoor TV. The national network offers programming that captures the excitement of hunting, fishing, shooting, off-road motorsports, adventure and the Western lifestyle. Outdoor Channel can be viewed on multiple platforms including high definition, video-on-demand, as well as on a dynamic new broadband website. For more information about the company or Outdoor Channel, please visit www.outdoorchannel.com.
Nielsen Media Research Universe Estimates for Outdoor Channel
Nielsen Media Research is the leading provider of television audience measurement and advertising information services worldwide. Nielsen estimated that Outdoor Channel had approximately 29.6 million cable and satellite subscribers for November 2008. Please note that this estimate regarding Outdoor Channel’s subscriber base is made by Nielsen Media Research and is theirs alone and does not represent opinions, forecasts or predictions of Outdoor Channel Holdings, Inc. or its management. Outdoor Channel Holdings, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information.
Use of Non-GAAP Financial Information
This press release includes “non-GAAP financial measures” within the meaning of the Securities and Exchange Commission rules. The company believes that earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for the effects of discontinued operations and share-based compensation expense, provides greater comparability regarding its ongoing operating performance. This information is not intended to be considered in isolation or as a substitute for net income (loss) calculated in accordance with U.S. GAAP. A reconciliation of the company’s U.S. GAAP information to EBITDA, adjusted for the effects of discontinued operations and share-based compensation expense is provided in the attached table.
Safe Harbor Statement
Statements in this news release that are not historical are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, including statements, without limitation, about our expectations, beliefs, intentions, strategies regarding the future long-term value of the company resulting from the company’s current actions or strategic initiatives and the future anticipated value of Outdoor Channel to our audience, distributors and advertisers. The company’s actual results could differ materially from those discussed in any forward-looking statements. The company intends that such forward-looking statements be subject to the safe-harbor provisions contained in those sections. Such statements involve significant risks and uncertainties and are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) service providers discontinuing or refraining from carrying Outdoor Channel; (2) a decline in the number of viewers from having Outdoor Channel placed in unpopular cable or satellite packages, or increases in subscription fees, established by the service providers; (3) the company’s ability to grow the subscriber base of Outdoor Channel; (4) a change in Nielsen’s methodology of estimating the number of subscribers to Outdoor Channel, or an inaccuracy in Nielsen’s such estimated number; (5) economic conditions causing a decrease, or slowing of growth, in our advertising revenue; and other factors which are discussed in the company’s filings with the Securities and Exchange Commission. For these forward-looking statements, the company claims the protection of the safe harbor for forward-looking statements in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Thomas Hornish, Chief Operating Officer, Outdoor Channel Holdings, Inc. (951) 699-6991, ext. 104 or firstname.lastname@example.org
October 30, 2008
SPRINGFIELD, Mass., Oct. 30 /PRNewswire-FirstCall/ — Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 156-year old company in the global business of safety, security, protection and sport, announced today that it has shipped 7,500 M&P9 pistols to the U.S. Armed Forces in Iraq for distribution to Iraqi military and security forces. The procurement order was issued by the U.S. Army Tank-Automotive and Armaments Command. Smith & Wesson will also supply supplemental accessories and spare parts for the firearms.
Leland Nichols, Senior Vice President of Sales and Marketing of Smith & Wesson Holding Corporation, said, “We are extremely pleased that the M&P9 pistol was selected for use by the Iraqi government for its military and police forces. Since its introduction in January 2006, the M&P pistol series has been selected for purchase or as an approved firearm by over 430 law enforcement and security agencies in the United States and 16 other countries throughout the world. Today’s announcement reflects the first order we have received for shipment of the M&P9 into Iraq. Its performance continues to demonstrate that the M&P polymer pistol series is highly suitable not only for law enforcement and personal protection, but also for use by military professionals.”
Engineered to become the handgun of choice for global law enforcement and military personnel, the M&P pistol design is based on input from numerous law enforcement and military organizations. Manufactured with a Zytel(R) polymer frame reinforced with a rigid stainless steel chassis and a through-hardened black Melonite(R) finished stainless steel barrel and slide for added durability, the M&P pistol benefits from enhanced shootability along with a reduction in felt recoil. Other standard features of the M&P pistol include three interchangeable grip sizes; a sear release lever that eliminates the need to press the trigger to disassemble the firearm; an ambidextrous slide stop; reversible magazine releases and a passive trigger safety to prevent the firearm from firing if dropped. The M&P9 has a 17 + 1 capacity and the pistol series is available in 9mm, .40S&W, .357SIG, and .45ACP calibers. Compact versions of the M&P pistol are also available for concealed carry and back-up use.
Nichols, added, “In addition to the M&P9s currently used in Iraq, Smith & Wesson firearms have also been used in active duty for the last two years with several security forces in Afghanistan including the Afghanistan National Army and Border Patrol as well as the Afghanistan National Police. To date, over 80,000 Smith & Wesson firearms are currently being used in these two countries. Reports from the field continue to indicate that the firearms are exceeding all expectations in the areas of reliability and durability. We are honored to continue delivering firearms that support men and women serving in Iraq and Afghanistan and we remain committed to supplying high-quality small arms to the military and federal government.”
About Smith & Wesson
Smith & Wesson Holding Corporation, a global leader in safety, security, protection and sport, is parent company to Smith & Wesson Corp., one of the world’s largest manufacturers of quality firearms and firearm safety/security products and parent company to Thompson/Center Arms, Inc., a premier designer and manufacturer of premium hunting rifles, black powder rifles, interchangeable firearms systems and accessories under the Thompson/Center brand. Smith & Wesson licenses shooter protection, knives, apparel, and other accessory lines. Smith & Wesson is based in Springfield, Massachusetts with manufacturing facilities in Springfield, Houlton, Maine, and Rochester, New Hampshire. The Smith & Wesson Academy is America’s longest running firearms training facility for law enforcement, military and security professionals. For more information on Smith & Wesson, call (800) 331-0852 or log on to www.smith-wesson.com. For more information on Thompson/Center Arms, log on to www.tcarms.com.
Industry Contact: Gary Giudice
Blue Heron Communications
Liz Sharp, VP Investor Relations
Smith & Wesson Holding Corp.
(480) 949-9700 x. 115
SOURCE Smith & Wesson Holding Corporation
Web Site: http://www.smith-wesson.com
October 30, 2008
Thursday, October 30, 2008
The nation’s gun owners have the presidential election in their sights.
Some are up at arms about the prospect of future gun legislation should Democratic presidential nominee Sen. Barack Obama win the White House. Others are beefing up their personal arsenals, skittish that firearms could become scarce or too expensive in the near future.
“If the economy is down, and gun sales are up, it shows you just how deep-seated the concern is out there about the situation,” said Richard Pearson, executive director of the Illinois State Rifle Association.
“Most gun owners at least until recently have been misled by Senator Obama. Though he claims to be an advocate for the Second Amendment, his voting record in the Illinois Senate says otherwise. He voted for a bill that would ban nearly every hunting rifle, shotgun and target rifle owned by Illinois citizens,” Mr. Pearson continued.
“His campaign has done a good job burying his take on firearms,” he added.
Hal Goldstein, owner of the Armory gun shop in Annapolis, said, “People should be scared.”
“Sales are definitely up,” he said. “I’ve got people with Obama stickers on their cars coming in to buy. We’re looking at possible a super- Democratic majority [in Congress], and a president who’s going to do what’s best for the collective. I don’t want to sound paranoid, but the prices could go way out of sight.”
Mr. Obama’s campaign Web site cites “the great conservation legacy” of American hunters, including Theodore Roosevelt.
“Barack Obama believes the Second Amendment creates an individual right, and he respects the constitutional rights of Americans to bear arms. He will protect the rights of hunters and other law-abiding Americans to purchase, own, transport and use guns,” the site states.
Not all gun owners are leery of Mr. Obama. He has the endorsement of the American Hunters and Shooters Association (AHSA), a Maryland-based group that describes itself as mainstream hunters without “a radical agenda.”
Mr. Pearson, however, buys none of it.
“This is all just a propaganda mill. And the American Hunters and Shooters Association is a leftist, elitist group.” he said. “They’re a front for the Brady Campaign [to Prevent] Gun Violence.” The Brady Campaign also has endorsed Sen. Obama’s candidacy.
AHSA President Ray Schoenke said his group is “not a front for anybody.”
“The issue that Senator Obama – or Senator [John] McCain, for that matter – is going to take America’s guns away has been hyped up,” Mr. Schoenke said. “If people are looking for an excuse not to vote for Senator Obama, then it shouldn’t be on the gun issue.
“If people are nervous, they need to remember the Supreme Court decision this summer, which says the government cannot confiscate or ban guns,” he said.
Mr. Obama has not made any points with the National Shooting Sports Foundation (NSSF), a Connecticut-based nonprofit group of 4,000 gun makers, retailers, sportsmen and publishers.
The NSSF claims that on Sept. 27, the Obama campaign “unlawfully obtained and made unauthorized use of a proprietary media list” belonging to the group and has since sent a cease-and-desist letter to campaign officials.
Meanwhile, the National Rifle Association (NRA) has launched get-out-the vote drives, including lawn signs that read “I’m a ‘bitter’ gun owner and I vote.”
“We’re arming gun owners, who are a very loyal voting bloc, with the facts. And it’s a fact that gun control has become a political liability. Senator Obama is spending millions trying to camouflage his take on the issue,” said NRA spokesman Chris Cox.
October 29, 2008
About Sturm, Ruger
Sturm, Ruger was founded in 1949 and is one of the nation’s leading manufacturers of high-quality firearms for the commercial sporting market. Sturm, Ruger is headquartered in Southport, CT, with manufacturing facilities located in Newport, NH and Prescott, AZ.
The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company including lawsuits filed by mayors, attorneys general and other governmental entities and membership organizations, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.
Sturm, Ruger & Company
October 29, 2008
Internet chat rooms and discussion boards are boiling over after a report by Ken Dilanian of USA Today said Dan Cooper, “chief executive of Cooper Arms, a small Montana company that makes hunting rifles” was a supporter and donor to- the Obama for President campaign. According to the USA Today story, Cooper donated $3,300 to Senator Obama’s current campaign and had donated to his 2004 Senate campaign after he was “dazzled by Obama’s speech at that year’s Democratic National Convention.” As you can imagine, this hasn’t gone down well with gun owners.
But is the report true? This statement posted on the Cooper Firearms website would seem to indicate otherwise:
“Regarding the USA Today Article. Cooper Firearms of Montana, Inc. did not contribute and does not support in any fashion the campaign of Senator Obama. Nine months ago Dan Cooper (personally) made an online donation to the campaign in an effort to help defeat Hillary Clinton and in protest of American plant closures and the shipping of jobs overseas. Three months ago he made yet another donation to the McCain campaign and the RNC totaling over twice that given to Obama campaign. There is no doubt that the article in USA Today has caused a considerable response. To this end we are encouraged and stand with our fellow NRA members and supporters of the Second Amendment and against those who oppose it.”
The end of this story is far from written, but were Cooper’s actions were not inaccurately reported in order to fit inside the “More executives sold on Obama” headline, Mr. Cooper is only beginning to feel the ire of already angry gun owners. When your name is on the sign, there is precious little discrimination between your personal actions and those of your company. We’ll keep you posted.
October 28, 2008
PORTLAND, OREGON — LaCrosse Footwear, Inc. (Nasdaq: BOOT), a leading provider of branded work and outdoor footwear, today announced that its Board of Directors has approved a quarterly dividend of twelve and one-half cents ($0.125) per share of common stock. This dividend will be paid on December 18, 2008 to shareholders of record as of the close of business on November 22, 2008.
“With a commitment to both support future growth and provide value to our shareholders, the Board of Directors declared the fourth quarter dividend today in recognition of our strong financial results,” said Joseph P. Schneider, president and CEO of LaCrosse Footwear, Inc.
About LaCrosse Footwear, Inc.
LaCrosse Footwear, Inc. is a leading developer and marketer of branded, premium and innovative footwear for expert work and outdoor users. The Company’s trusted Danner® and LaCrosse® brands are sold to a network of specialty retailers and distributors in the United States, Canada, Europe and Asia. Work customers include people in law enforcement, agriculture, firefighting, construction, military services and other occupations that need high-performance and protective footwear as a critical tool for the job. Outdoor customers include people active in hunting, outdoor cross training, hiking and other outdoor recreational activities. For more information about LaCrosse Footwear products, please visit our Internet websites at www.lacrossefootwear.com and www.danner.com. For additional investor information, see our corporate website at www.lacrossefootwearinc.com.
David Carlson, CFO (503) 262-0110 ext. 1331
October 27, 2008
NSSF is reminding all sportsmen and sportswomen who will be out of town in hunting camps, duck blinds or traveling on business on Nov. 4 to cast timely absentee ballots in accordance with their state’s laws. Learn more at NSSF.org/VoterEd.