FTAR.OB -- “Da Bears”

Of course FTAR faces the same economic sensitivity problems that any consumer discretionary company faces.

The company may also not be a “long term” holding in that it may not be there after 2008 – but that’s one of the bullish scenarios.

To a certain extent the company does not control its own destiny. They are always going to be dominated by someone else who owns the stores they sell their products in. As department stores and discounters consolidate they will have more clout to get better revenue sharing agreements out of FTAR.

To a certain extent they operate in the commodity business of selling cheap shoes. They do own some brand names but I have never heard of them and would not assign much value to discount brands sold at the “bottom of the pile” retailers.

* DISCLOSURE: I or accounts I supervise are long FTAR.OB. This is not a recommendation to buy or sell any security. For informational and educational purposes only.