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Letter to the Editor

This article originally appeared in the February 2011 Issue of INSIGHT

Flowers for Mother Nature

Our industry-related stock chart this month shows very little activity on Wall Street during the first couple of weeks of 2011.The largest gain in a per share stock price, as well as the biggest loss were just over four percent different fromNew Year’s Day marks.

In Toronto, our Canadian stocks fared better. The Boyd Group per share price rose nearly eight percent YTD.

We are welcoming a new northern neighbor to INSIGHT’s stock report this month. Canadian auto parts distributor Uni-Select Inc. purchased the U.S. automotive paint company FinishMaster in a $217 million cash and debt deal in mid-December. Uni-Select began its expansion drive in 1998, and the company has promised more takeovers to come. I believe that Uni-Select will be an interesting company to watch on this page. The company’s per share price out-performed our American stocks during the opening weeks of 2011. Its 28.98Cdn posting was over five percent up YTD.

Solera Holdings is happy again at the Dow this month. The company has posted a per share stock price of $53.37, a tad over three percent above the company’s January 1 spot.

PPG Industries released a very pleasant fourth quarter report this month. Net income for the Pittsburgh-based chemical, glass, paint, and refinish giant rose to $205 million, an eight percent increase over the same period in 2009. Overall sales were $3.11 billion. However, despite partial recovery, 2010 sales volumes for PPG still remained $1.2 billion under 2008 levels. Price increases in both PPG’s chemical and paint segments are anticipated, to counter the continued rising raw materials costs.

Our U.S. automobile manufacturers are healing nicely from the battering and bruising of the recession out of which we are hopefully inching. Television commercials from the Detroit bunch have been showcasing some very attractive vehicles and some very creative presentations. I am especially pleased with the Chrysler ad defining the Motor City, with its dynamite line - “Imported from Detroit.” Hopefully, Americans will drop by dealerships and buy some new cars.

Auto body repair facilities are pretty darn busy this month and their owners and managers are probably trying to send flowers to good old Mother Nature to thank her for the rotten winter weather we have had across the nation.

-Charles Baker-

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