Trades at 1.2X BV, ROE @ 24%. Some of the best management in the Insurance business. Company main investors are Goldman, AIG and Chubb. Barring any major P&C event, company should increase BV by $5.00/share per year for some time. Company in growth/expansion mode as well. Should return LT Investors ~ 20%+ / year.

Cheap infrastructure play for the Airline Industry. Also provide services to US Gov. Company expanding internationally. Great Customer lists. Operating Margins expanding. Ex- Inventories Fair Value (i.e. LBO Model) suggest $35/share valuation.

2007 Estimated EBITDA estimate is $1,155-1,225mm, Thats $7/share. Company expects to add 300-350 to that number by 2010 that will increase EBITDA/share to almost $9.00/share. Prices of products risings. Sale of OXO will bring in another $450mm or $2.60/share. Between 2007 and 2010 cumulative after tax cash balances should build to over $22.50/share. Excellent Value play!

Based on the Proforma Financial's from the proposed acquisition of American Apparel DCF analysis yield a valuation of $20/share post closing. Risk is the transaction does not close (not likely). Risk reward @ $10/share is 2 down 10 up. Very good Risk / Reward

Company coming off a couple disappointing qrts. However if you listen to the 2/16/07 Conference Call the company expects 2nd half of 07 and all of 08 to put the company back on track. Large customer UTX Blackhawk Sikorsky Program announced 07 deliveries to increase by 53% in 07 and 35% in 08. LMIA said "LMIA has recently been awarded additional component and sub-assembly work on the Black Hawk program, which should benefit net sales in the second half of 2007 and beyond" & "We expect continued growth during 2007 from expanding production rates as well as additional work on the Boeing 787 and several new aircraft models being developed by certain customers" Assuming a 2007 EPS est of $1.23 with a 10% growth rate through 2010, DCF @7% calculation shows a valuation of around $25/share (10% discount in the multiple used to acquire K&F).

Only 1/3 of the fleet in GOM. The rest is located internationally. Company repurchasing stock. Fair Valuation is close to $70/share. Long Term Contracts in place and 96% Utilization rates. Expect 2007 EPS of $5.37/share. Strong sustainable cash flows. Resent comments from Q4 "We are positive about our 2007 outlook. International jackup markets are strong and are currently undersupplied. Two-thirds of our jackup fleet will be located internationally following mobilization of ENSCO 105 from the Gulf of Mexico to Tunisia and delivery of ENSCO 108. If the Gulf of Mexico jackup market continues to be soft, we believe this will result in further relocation of rigs to stronger international markets, which will tighten supply in the Gulf. "A number of our Europe/Africa and Asia Pacific jackup rigs have realized increases in day rates since the first of the year. As a result, we expect sequential improvement in our first quarter 2007 results. We believe that this day rate improvement, coupled with commencement of ENSCO 108 operations early in the second quarter, will contribute to another record year in 2007."

Currently BV of 18.59 as of Q4 07, up $1.00 from Q4 06. Most industry comp's show equity price should trade at low end of 1.3X BV. Although no real catalyst in place for stock to move higher. Barrons last wrote about this company in 8/25/05 suggesting valuation could fetch $25. Probably a good valuation if a buyer is interested.

Interesting small cap. Specializes in Design build engineering services for Wireless Infrastructure and Specialty Communication Systems. Lots of new contracts signed within last 6 months. Solid names on customer list. 2007 Guidance given in 9/06 and reaffirmed again on 12/14/07 is for revenue of $75mm (up 40%) and EPS of $0.72/share (up 60%). DCF assuming a 10% EBITDA growth rate and a 6X EBITDA multiple yields a valuation of $17.73/share. Company has been rolling up international players and consolidating within the industry.