Pork Roast Dinner

This recipe is not the "Recipe of the Month" for January. That one is coming in just over a week on January 3rd, 2010.

This is sort of a special "Bonus Recipe" I'm posting because I wanted to try something different. If you read to the bottom, you'll see I've also added a video element that shows me actually preparing the dish in question.

This is a new feature, and if it gets a good response, I plan on including a video element for all future recipes and past recipes that are specially requested.

Pork Roast Dinner

• 1 pound red potatoes, peeled and cubed
• 1/2 pound small fresh mushrooms, stems removed
• 1 1/2 cups fresh baby carrots
• 1 medium green pepper, chopped
• 1 medium parsnip, chopped
• 1 white onion, chopped
• 1 pork roast (about 3 lbs)
• 1 can (14.5 oz) chicken broth
• 3/4 teaspoon salt
• 3/4 teaspoon dried oregano
• 1/4 teaspoon pepper

1. Place vegetables in a 5 quart crock pot. Remember to use a crock pot liner (no unsafe cooking).
   
2. Place the pork roast on top of the vegetables and the mushrooms around the roast.
3. Sprinkle the seasonings on top of the pork roast.
   
4. Pour the chicken broth over the pork roast.
5. Cover and cook on low for 8 hours (or until meat is tender).
   

One last thing, please ignore my comment about a "Part One". I have no cameraman, had to do the filming and cooking at the same time, and didn't really know what I was saying. Still, I think you'll enjoy it.

I Just Love It when I'm Right!

I was right again about two other stock IPOs I discussed earlier this month (see "Still No New Investments"), and how I thought they would not be a good idea for anyone seeking a small speculative investment strategy.

Team Health Holdings (TMH) which listed at $14.00/share is currently trading at $12.81/share, and Cobalt International Energy (CIE) which opened at $15.00/share is now at $13.50/share. That is an average decline of 9.25%.

I'm not ready to say these stocks would never be good investments at some future date, just not right now. I'm withholding any judgement on these stocks till they have an earnings per share (EPS) figure, and currently, they have not yet posted one.

When (or should I say "if") the day comes and this changes, don't worry, I'll keep you informed.

Update on KAR

I was right about the IPO for Kar Auction Services, Inc (KAR). In it's debut Friday, 12/11/09, it opened at $12.00/share (was supposed to open between $15-$17/share) and closed that same day up only $.03.

Today, it fell to as low as $11.73 before closing back up to $12.00. This article I read in the Associate Press explains one of the reasons why (and I said it first!);

"Analysts said investors are likely wary of KAR's debt. According to recent regulatory filings, it owes creditors $2.5 billion".

It also probably doesn't help that out of sales of $1.31 Billion, it only made a profit last year of $17.9 Million. That's a profit margin of just barely 1.36%, and sorry, but I could do 4 times better than that by investing in any stock in the Dow Jones Industrial Average that yields over 4% (Currently AT&T, DuPont, Kraft Foods, Merk, and Verizon).

Still No New Investments

I check the listing of IPOs (Initial Public Offerings) listed by Charles Schwab (where I do my investing) just about every day, looking for the next Intrepid Potash that earned me a 50% return in one month. So far, my luck has been non-existent.

In my last post, I told any of you that were thinking of investing in Kar Auction Services, Inc., to not invest in that stock, and I have the same advice for any thinking of investing it the two most recent IPOs listed by Charles Schwab. Team Health Holdings, Inc. (proposed symbol THM), and Cobalt International Energy, Inc. (proposed symbol CIE).

Why am I not recommending either of these stocks? Quite simply because both companies are carrying a shitload of debt, and neither has the track record or promise of future earnings to justify the risk.

If THM sells all 20 million proposed shares at the maximum price of $16, the roughly $320 million raised in this offering will mostly go to paying of certain indebtedness, including an interest bearing note of 11.25%. I'm sorry, but when a company sells stock to expand it's business, that's a good thing. When they sell stock to pay off debt, that's a bad thing.

The other company, CIE will be using the money raised (roughly $1 billion) to expand oil exploration and exploitation of deep water, off-shore sites, but, in the company's own words (found in the preliminary prospectus);

"We have no proved reserves and areas that we decide to drill may not yield oil in commercial quantities or quality, or at all."

So, my answer to both companies is, "I will not be buying your stock in this initial public offering. There are just to many uncertainties and you are both to risky for my blood."

For now, I'm sticking with my short-term treasury bills, my dividend paying stocks, and my two mutual funds. They may not be exciting, in fact they're downright dull, but I can sleep at night.

To Risky for My Blood

Just a short post tonight to discourage any of you that might be thinking of investing in Kar Auction Service, Inc. (KAR).

DON'T DO IT!

Sure, on the surface, it might sound like a good idea, and maybe in the short term it would be, but there are just to many negatives and things that could go wrong with this new initial public offering.

For one thing, the economy is still basically a shambles, and credit markets are just to unstable to justify the risk. If people cannot get a loan, they won't be able to buy a car, even at auction, and most cars at auctions are bought by used car dealers anyway, and if their sources of credit dry up (and they have been), how will the average person be able to get the kind of money needed?

I'm sure some of you might be saying "Well, they can still pay cash to get the car at auction". True, but how many people have that kind of cash lying around? Enough to sustain a business model?

In the research I've done into the company, and that includes reading the prospectus (and I thought "Moby Dick" was a boring read) and everything I could find out on the internet, the income stream is to unstable. During this year's third quarter, KAR had a profit of $8.6 million, and while that does sound like a lot, last year they had a net loss of $169.9 million, and most of the profits they made were from cost and expense cutting, because sales were down 3.3%.

Another reason I won't be investing in this stock (let alone speculating) is that the bulk of money they plan to raise from the stock offering won't be going to expand the business but to pay down the company's debt.

Sorry, but this is just to risky for me. I would rather lose out on 99 fantastic investments rather than make one lousy investment.

If I come across one I think would be good for you, my readers (yeah, right) I'll keep you informed.

Arroz con Queso

When I fist started this blog, and long before when I sent out monthly e-mails with my "Recipe of the Month", I originally would just use my grandmother's vast collection of cook-books, new paper clippings, and old family recipes she had committed to 3" by 5" cards as my source material. And if any of you decided to cook the dishes I recommended, you know just how yummy they were.

Now, however, I bring you a dish that I sorta came up with on my own. Why do I say "Sorta"? Well, the truth is I "ala Wesley'd" a dish I found online, and I hope you'll like it as much as I and a good friend of mine enjoyed it.

Arroz con Queso

(Rice with Cheese)

• 2 14.5 oz cans petite diced tomatoes with chilies and garlic (undrained)
• 1 14.5 oz can Mexican style beans (undrained)
• 1 1/2 cups long grain converted rice, uncooked
• 1 onion, chopped
• 1 cup cottage cheese
• 4 ounces green chili peppers, canned (undrained)
• 2 tablespoons extra virgin olive oil
• 3 teaspoons garlic, minced
• 1 4 oz can sliced black olive with red peppers (drained)
• 2 cups Monterey Jack cheese, grated, divided

1. Mix all ingredients except for 1 cup of grated cheese in the slow cooker.
2. Cover; cook on Low 6-9 hours.
3. Sprinkle with remaining cheese before serving.

For some, this might be a bit to spicy, but if you enjoy a good southwestern, Tex-Mex dish, you'll really enjoy this.

Not only is it delicious, but it's just so easy to make.

As always, eat and enjoy.