From Barron's 6-18-07: "Next, an update on Cablevision. The stock [CVC] is 35.60, and the value of the company is $50-plus. The controlling shareholders, the Dolan family, have stepped up their buyout price to $36.26 since January, but the value of the company has gone up dramatically. The deal they first had on the table allowed shareholders to get a true-up in value if the company was resold in coming years. That's not the case with this new offer. Cablevision is worth substantially more than its market price, and we think we'll get it."

From Barron's 6-18-07: "We also like Hilton Hotels [HLT]. Steve Bollenbach is retiring as CEO. Matt Hart is the new CEO. There are 385 million shares outstanding, and the stock trades for 35...The growth in demand of hotel rooms in countries like India. There are about as many hotel rooms in all of India than there are in Las Vegas. Hilton is franchising its brand. There is a global consolidation of the hotel industry, and a lot of private-equity activity. We expect to earn 50% on our money in a couple of years if Hilton agrees to be taken over. If not, at these prices it's a conservative way to play the need for hotel rooms in emerging countries."

From Barron's 6-18-07: "Next, Midas [MDS] is an auto-parts company. It's thinly traded, so be careful how you buy it. There are 14.8 million shares outstanding, and the company is converting its business into a franchise model. They brought in Alan Feldman from McDonald's in January 2003, and he has done everything right. He got rid of manufacturing and is trying to rejuvenate the stores. Midas could earn 90 cents a share next year, despite a drop in fees from Europe. It's a 15% to 20% grower. I'm trying to convince management to find another brand to franchise, just as Yum! Brands [YUM] has three brands: Pizza Hut, KFC and Taco Bell."

From Barron's 6-18-07: "My next stock is an old friend, Sequa. There are 11.4 million shares outstanding, and an A and B stock. SQA-A trades for 108. The chairman, Norman Alexander, died, and his daughter just became chairman. The play here is simple: Split the company in two. One part will have all the businesses except Chromalloy, which will have 2008 revenue of about $1.3 billion. It can earn a 13% to 14% Ebitda [earnings before interest, taxes, depreciation and amortization] margins and be worth the value of the entire company, plus debt. Chromalloy, which provides repair and service to airplane engines, is the crown jewel. A Boeing study just said there will be 28,000 planes flying in the next 20 years. Sequa could be worth 50% more."

From Barron's 6-18-07: "Finally, we have made a lot of money in wireless telephony over the years. Now we're focused on U.S. Cellular [USM], which has six million customers. In round numbers, '08 earnings will be $3.50 to $4 a share, growing at 25% to 30%. They own 5.5% of a franchise in Los Angeles that is owned by Verizon Communications [VZ]. That alone is worth $800 million. They have a lot of hidden assets. U.S. Cellular is worth about $130 a share based on the price at which Alltel [AT] was sold. It is trading for 88-89."

From Barron's 6-18-07: "The food sector is fertile for deals. At Cadbury Schweppes [CSG], something already is happening. Cadbury has two businesses -- confectionery and beverages. They are selling off the beverage business and will do a major capitalization shrink with the proceeds. The confectionery business fits like a glove with Hershey [HSY] and Kraft Foods [KFT], both of which would be good strategic partners. Cadbury sells for 687 pence in London and the American depositary receipts are 55. We're buying it in London. After the cap shrink and an earnings increase, the stock could be worth 840p."