>>> French Muslim Philosopher Says Islam Has Given Birth To Monsters, Needs Refo


In Open Letter To Muslim World, French Muslim Philosopher Says Islam Has Given Birth To Monsters, Needs Reform

In an essay published October 3, 2014 in the French newspaper Marianne, French Muslim philosopher Abdennour Bidar, author of Self Islam: A Personal History of Islam (Seuil, 2006); Islam without Submission: Muslim Existentialism (Albin Michel, 2008), and A History of Humanism in the West (Armand Colin, 2014), wrote that Muslims cannot make do with denouncing and repudiating terrorist barbarism, but must acknowledge that its roots lie within Muslim society, and especially within the Islam that is prevalent in the Arab world today. He points out that Islam, like all religions, has throughout its history been a source of much good, wisdom and enlightenment, but that today's mainstream Islam rejects the freedom and flexibility that are advocated by the Koran and instead promotes rigidity and regression that ultimately give rise to terrorism. The Muslim world, he concludes, must therefore reform itself, and especially its education systems, based on principles of freedom of religion and thought, equality, and respect for the other.
The following are translated excerpts from his essay:


"I See That You Are Losing Yourself And Your Dignity, And Wasting Your Time, In Your Refusal To Recognize That This Monster Is Born Of You"
"Dear Muslim world: I am one of your estranged sons, who views you from without and from afar – from France, where so many of your children live today. I look at you with the harsh eyes of a philosopher, nourished from infancy on tasawwuf (Sufism) and Western thought. I therefore look at you from my position of barzakh, from an isthmus between the two seas of the East and the West.
"And what do I see? What do I see better than others, precisely because I see you from afar, from a distance? I see you in a state of misery and suffering that saddens me to no end, but which makes my philosopher's judgment even harsher, because I see you in the process of birthing a monster that presumes to call itself the Islamic State, and which some prefer to call by a demon's name – Da'esh. But worst of all is that I see that you are losing yourself and your dignity, and wasting your time, in your refusal to recognize that this monster is born of you: of your irresoluteness, your contradictions, your being torn between past and present, and your perpetual inability to find your place in human civilization.
"What do you [Muslims] say when faced with this monster? You shout, 'That's not me!' 'That's not Islam!' You reject [the possibility] that this monster's crimes are committed in your name (#NotInMyName). You rebel against the monster's hijacking of your identity, and of course you are right to do so. It is essential that you proclaim to the world, loud and clear, that Islam condemns barbarity. But this is absolutely not enough! For you are taking refuge in your self-defense reflex, without realizing it, and above all without undertaking any self-criticism. You become indignant and are satisfied with that – but you are missing an historical opportunity to question yourself. Instead of taking responsibility for yourself, you accuse others, [saying]: 'You Westerners, and all you enemies of Islam, stop associating us with this monster! Terrorism is not Islam! The true Islam, the good Islam, doesn't mean war, it means peace!'"
"The Root Of This Evil That Today Steals Your Face Is Within Yourself; The Monster Emerged From Within You"
"Oh my dear Muslim world, I hear the cry of rebellion rising within you, and I understand it. Yes, you are right: Like every one of the great sacred inspirations in the world, Islam has, throughout its history, created beauty, justice, meaning and good, and it has [been a source of] powerful enlightenment for humans on the mysterious path of existence... Here in the West, I fight, in all my books, [to make sure that] this wisdom of Islam and of all religions is not forgotten or despised. But because of my distance [from the Muslim world], I can see what you cannot... and this inspires me to ask: Why has this monster stolen your face? Why has this despicable monster chosen your face and not another? The truth is that behind this monster hides a huge problem, one you do not seem ready to confront. Yet in the end you will have to find the courage [to do so]...
"Where do the crimes of this so-called 'Islamic State' come from? I'll tell you, my friend, and it will not make you happy, but it is my duty as a philosopher [to tell you]. The root of this evil that today steals your face is within yourself; the monster emerged from within you. And other monsters, some even worse, will emerge as well, as long as you refuse to acknowledge your sickness and to finally tackle the root of this evil!
"Even Western intellectuals have difficulty seeing this. For the most part they have forgotten the power of religion – for good and for evil, over life and over death – to the extent that they tell me, 'No, the problem of the Muslim world is not Islam, not the religion, but rather politics, history, economics, etc.' They completely forget that religion may be the core of the reactor of human civilization, and that tomorrow the future of humanity will depend not only on a resolution to the financial crisis, but also, and much more essentially, on a resolution to the unprecedented spiritual crisis that is affecting all of mankind."
"I See In You, Oh Muslim World, Great Forces Ready To Rise Up And Contribute To This Global Effort To Find A Spiritual Life For The 21st Century"
"Will we be able to come together, across the world, and face this fundamental challenge? The spiritual nature of man abhors a vacuum, and if it finds nothing new with which to fill the vacuum, tomorrow it will fill it with religions that are less and less adapted to the present, and which, like Islam today, will [also] begin producing monsters.
"I see in you, oh Muslim world, great forces ready to rise up and contribute to this global effort to find a spiritual life for the 21st century. Despite the severity of your sickness, you have within you a great multitude of men and women who are willing to reform Islam, to reinvent its genius beyond its historical forms, and to be part of the total renewal of the relationship that mankind once had with its gods. It is to all those who dream together of a spiritual revolution, both Muslims and non-Muslims, that I have addressed my books, and to whom I offer, with my philosopher's words, confidence in that which their hope glimpses."
"Forward-Looking Muslims Understand All Too Well That Al-Qaeda, Jabhat Al-Nusra, AQIM, And The Islamic State Are Only The Most Visible Symptoms Of An Immense Diseased Body"
"But these Muslim men and women who look to the future are not yet sufficiently numerous, nor is their word sufficiently powerful. All of them, whose clarity and courage I welcome, have plainly seen that it is the Muslim world's general state of profound sickness that explains the birth of terrorist monsters with names like Al-Qaeda, Jabhat Al-Nusra, AQIM, and Islamic State. They understand all too well that these are only the most visible symptoms of an immense diseased body, whose chronic maladies include the inability to establish sustainable democracies that recognize freedom of conscience vis-à-vis religious dogmas as a moral and political right; chronic difficulties in improving women's status...; the inability to sufficiently free political power from its control by religious authority; and the inability to promote respectful, tolerant and genuine recognition of religious pluralism and religious minorities."
"Could All This Be The Fault Of The West? How Much Precious Time Will You Lose, Dear Muslim World, With This Stupid Accusation[?]"
"Could all this be the fault of the West? How much precious time will you lose, dear Muslim world, with this stupid accusation that you yourself no longer believe, and behind which you hide so that you can continue to lie to yourself?
"Particularly since the eighteenth century – it's past time you acknowledged it – you have been unable to meet the challenge of the West. You have childishly and embarrassingly sought refuge in the past, with the obscurantist Wahhabism regression that continues to wreak havoc almost everywhere within your borders – the Wahhabism that you spread from your holy places in Saudi Arabia like a cancer originating from your very heart. In other ways, you emulated the worst [aspects] of the West – with nationalism and a modernism that caricatures modernity. I refer here especially to the technological development, so inconsistent with the religious archaism, that makes your fabulously wealthy Gulf 'elite' mere willing victims of the global disease – the worship of the god Money.
"What is admirable about you today, my friend? What do you still have that is worthy of the respect of the peoples and civilizations of the world? Where are your wise men? Have you still wisdom to offer the world? Where are your great men? Who is your Mandela, your Gandhi, your Aung San Suu Kyi? Where are your great thinkers whose books should be read worldwide, as they were when Arab or Persian mathematicians and philosophers were spoken of from India to Spain? You are actually so weakened behind [the mask of] self-confidence that you always display... You have no idea who you are or where you want to go, and it makes you as unhappy as you are aggressive... You persist in not listening to those who call on you to change by finally freeing yourself from the dominion that you have granted to religion over all [aspects of] life.
"You chose to consider Muhammad a prophet and king. You chose to define Islam as a moral, political, and social religion that must rule as a tyrant in the state as well as in civilian life, in the street and in the home, and in every man's conscience. You chose to believe that Islam means 'submission' and to impose that belief – while the Koran itself declares that 'there is no compulsion in religion'... You have made [the Koran's] cry for freedom into the reign of coercion. How can a civilization so betray its own sacred text? I say that, in Islamic civilization, the time has come to institute this spiritual freedom – the most sublime and difficult of all [freedoms] – in place of all the laws invented by generations of theologians!"
"Numerous Voices That You Refuse To Hear Are Rising Today In The Ummah To Denounce This Authoritarian Religion That Cannot Be Questioned"
"Numerous voices that you refuse to hear are rising today in the ummah [Islamic nation] to denounce this authoritarian religion that cannot be questioned... Many believers have so internalized the culture of submission to tradition and to the 'masters of religion' (imams, muftis, sheikhs etc.) that they don't understand us when we talk to them about spiritual freedom or personal choice vis-à-vis the 'pillars' of Islam. This is a 'red line' for them – so sacred to them that they dare not allow their own conscience to question it. And there are so many families in which this confusion between spirituality and servitude is implanted from such an early age, and in which spiritual education is so meager, that nothing concerning religion may be discussed."
"But this [taboo] is clearly not imposed by the terrorism of some crazy fanatics... No, this problem is infinitely deeper. But who is willing to hear this? In the Muslim world, there is only silence regarding this matter; in the Western media, they listen only to all those terrorism experts who increase the general myopia day by day. Do not delude yourself, my friend, by pretending that by eliminating Islamist terrorism we will settle all of Islam's problems. Because what I have described here – a tyrannical, dogmatic, literalist, formalistic, macho, conservative, and regressive religion – is too often the mainstream Islam, the everyday Islam, which suffers and causes suffering to too many consciences, the irrelevant Islam of the past, the Islam that is distorted by all those who manipulate it politically, the Islam that always ends up strangling the various Arab Springs and the voice of the young people who are demanding something else. So when will you finally bring about this revolution in society and conscience that will make spirituality rhyme with liberty?
"Of course, there are pockets of spiritual freedom in your great territory: families that hand down [to their children] an Islam of tolerance, personal choice and spiritual depth. There are places where Islam still gives the best of itself: a culture of sharing, honor, pursuit of knowledge, and spirituality in search of the sacred place where man and the ultimate reality called Allah meet. In the land of Islam, and in Muslim communities worldwide, there are strong and free consciences. But they are condemned to exercise their freedom without the recognition of real rights, facing the peril of community control or sometimes even of the religious police. Never has the right to say 'I choose my Islam' or 'I have my own relationship with Islam' been recognized by the 'official Islam' of the dignitaries, who fight to impose [the view] that 'the doctrine of Islam is unique' and that 'obeying the pillars of Islam is the only right path...'
"This denial of the right to freedom of religion is one of the roots of the evil from which you suffer, oh my dear Muslim world; it is one of those dark wombs in which, in recent years, monsters have grown, and from whence they leap out at the frightened faces of the whole world. For this iron religion imposes excruciating violence upon all your societies; it too closely confines your daughters and your sons in the cage of good and evil, the lawful (halal) and the illicit (haram), chosen by none but imposed on all. It traps the wills, it conditions the mind, it prevents or hinders every personal life choice. In too many of your countries, you still tie together religion with violence – against women, against 'bad' believers, against Christians and other minorities, against thinkers and free spirits and against rebels – so that religion and violence ultimately blend within the most unbalanced and vulnerable of your own sons – in the monstrous form of jihad."
"You Must Begin By Reforming Education... Based On Universal Principles"
"So, I beg of you, don't pretend to be amazed that demons such as the so-called 'Islamic State' have taken your face. Monsters and demons steal only those faces that are already distorted by too much grimacing. And if you want to know how to refrain from bringing forth such monsters, I will tell you. It's simple yet difficult: You must begin by reforming the education you give your children, in its entirety, in all your schools and all your places of knowledge and power. You must reform them according to [the following] universal principles – even if you are not the only one violating or disregarding [these principles]: freedom of conscience, democracy, tolerance, civil rights for [those of] all worldviews and beliefs, gender equality, women's emancipation from all male guardianship, and a culture of reflection and criticism of the religion in universities, literature, and the media. You cannot go back, and you can do no less than this. For it is only by doing so that you will no longer give birth to such monsters. If you do not do so, you will soon be devastated by [these monsters'] destructive power.
"Dear Muslim world: I am but a philosopher, and as usual some will call the philosopher a heretic. Yet I seek only to let the light shine forth once again – indeed, the name that you have given me commands me to do so: Abdennour, Servant of the Light. If I did not believe in you, I would not have been so harsh in this essay. As we say in French, 'He who loves well, punishes well' – and those who today are not tough enough with you, who want to make you a victim, are doing you no favors. I believe in you. I believe in your contribution to build the future of our planet, to create a world that is both humane and spiritual!
"Salaam, peace be upon you."

>>> US Unusual Options Activity

Unusual Options Activity
Bullish Call Activity:
  • DKS Jan 53 calls are seeing interest with the underlying stock trading higher by 10% following reports suggesting company could go private (volume: 2050, open int: 1370, implied vol: ~40%, prev day implied vol: 7%) -- Bloomberg M&A column also discussed DKS as LBO target on Jan 5 (see 1/5 5:48).  Co reported earnings in November.
  • ANF Jan 29.5 calls are seeing interest with strength in the retail sector following upside JC Penney guidance/sales (volume: 3340, open int: 250, implied vol: ~52%, prev day implied vol: 50%)    -- one 3K transaction traded at 0.91 with a 0.78/0.92 bid/ask spread. Many retailers are expected to report holiday sales results over the next few weeks (ANF provided update early Jan last year)-- several with December comps this week on Thursday January 8 before the open. 
Bearish Put Activity:
  • CNAT Jan 10 puts are seeing interest with the underlying stock trading lower by 7% ahead of Phase 2 results for acute-on-chronic liver failure trial out January 8 after the close  (volume: 5100, open int: 160, implied vol: ~350%, prev day implied vol: 297%)  -- one transaction of ~3650 contracts traded at 2.60 with a 2.00/2.80 bid/ask spread. Co reported earnings in November.
  • RDN Jan 16 puts  are seeing interest with the underlying stock trading lower by 5% following delinquency data and reports of FHA premium cut (volume: 5350, open int: 620, implied vol: ~49%, prev day implied vol: 36%)   -- co is expected to report earnings early February.
  • HRB Feb 31 puts (volume: 2000, open int: 0, implied vol: ~27%, prev day implied vol: 25%)  -- one 2K contract transaction on the offer. Co reported earnings early December and is expected to report its next quarter early March.
Other Notable Options Activity:
  • SPY Feb 215 calls are active ahead of non farm payrolls report Friday January 9 at 8:30 ET with 92.2K contracts trading vs. open int of 50.6K, pushing implied vol down less than 1 pt to ~12% -- one transaction of ~55.9K contracts traded on the offer. 
Sentiment: The CBOE Put/Call ratio is currently: 1.00... VIX: (19.53, -1.59, -7.4%).
January 16 is options expiration -- the last day to trade January equity options.

FT Lex : European autos: ramping up : The high end is still the place to be

European autos: ramping up

The high end is still the place to be

The self-driving F015 Mercedes-Benz is exciting, sexy and mostly irrelevant. The automobile business is not about whizz-bang; it is about basics — update the capital consuming monster that is the production line to make cars more cheaply and more cleanly, and sell more of the highest-margin models.

In recent years, the US market generated cash for the auto industry, emerging markets generated growth, and Europe generated overcapacity. That is all starting to change. The US is still doing its bit — record US sales in 2014, with growth in high margin pick-up trucks and sport utility vehicles — so the industry is producing cash. But emerging markets are not delivering the growth expected. Brazil and Russia are suffering and even Chinese growth is slowing.
Instead, it is Europe that is growing. European sales between January and November last year grew 6 per cent over the same period in 2013. In the UK, 2.5m new cars were registered in 2014, a 10-year high and 9 per cent increase over 2013. But Europe will not keep growing like this much longer. The improvement is coming from a low base, and sales have been boosted by financial incentives — such as Spain’s scrap incentives and a UK contract purchase scheme — that may not last.
So with sales growth uncertain, manufacturers need to do all they can to keep costs down. That is tough. Rising emission standards push up manufacturing costs and customers are expecting more for their money (sat nav as standard, please.) So carmakers are trying to cut costs by making as many models as possible from a common platform. Component makers such as Valeo and Continental — whose products allow manufacturers to improve emissions fairly cheaply and quickly — should find plenty of business.
In this environment, premium carmakers such as BMW and Daimler look well placed. The luxury market is doing well and they have scope to introduce smaller models (which will help them to meet CO2 targets). If novelties such as the F015 can help them a little way down that road, so much the better.

>>> Preview: Minutes of the Dec 16-17th FOMC meeting due out at 14:00ET

Preview: Minutes of the Dec 16-17th FOMC meeting due out at 14:00ET 

At the December meeting, the Fed made its long await language tweak, from "considerable time" to "patient", that was meant to signify the start of a new phase in which the central bank will begin contemplating the path to policy normalization. Much of the focus on today's minutes will be on how the members arrived at this choice of words and what other language might have been considered. At the December press conference Chair Yellen indicated that "patient" means no tightening for at least the next two meetings. The minutes will continue to stress that rate policy is data dependent, and thus can evolve either faster or slower depending on upcoming trends in the data. 

There were 3 dissents (2 hawkish and 1 dovish) at the meeting so there is clearly a hot debate going on about the timing and pace of scaling back accommodative policy, but it's not clear if much new will be learned about this in today's minutes. Based on comments from FOMC member speeches, the general consensus appears to be that once rate lift off occurs they will not put rate hikes on autopilot, and most members believe that rates will rise more slowly this time than they have in the past. 

>>> Lafarge/Holcim will prompt major players to assess position, Hope seen waiti

Lafarge/Holcim will prompt major players to assess position, Hope seen waiting in wings 

* Secondary activity dependent on nature of asset sale
* Further consolidation in UK market hampered by significant competition constraints
* Mittal-backed Hope seen as ambitious

The creation of the world’s biggest building materials group through the merger of Holcim [VTX:HOLN] and Lafarge [EPA:LG] could result in further large-scale deals, sector sources said. The merger is set to complete in the first half of 2015.

Other major European cement makers will have to evaluate their position and assess how they can compete with such a huge player in the market, said the first sector source.

Significant regional players include Germany’s HeidelbergCement [ETR:HEI], Italian groups Italcementi [BIT:IT] and Buzzi Unicem [BIT:BZU], and Irish group CRH. Activity in the UK among the largest players will be severely restricted by competition issues, the sector sources added.

Changes to the market will largely depend on who buys the package of assets being disposed of by Holcim and Lafarge and for how long the buyer holds them, according to Thierry Sauvaire, CEO of Eurocement Holding – Holcim’s second biggest shareholder.

A second sector source added that how the assets are sold, whether as a package or piecemeal, will influence the level of secondary activity. Small disposals may follow the 1H15 completion of the asset sale process, said the sources.

Several private equity bidders including Blackstone and CVC remain in the running to buy some or all of the assets. Assets in Europe, Canada, Brazil and the Philippines representing around 10-15% of combined global EBITDA are being sold to comply with competition approvals for the merger.

Parties will attempt deals that are largely defensive in nature, it was said. But executing deals is complicated and all major players face significant competition issues, according to the sources. The ownership of many cement makers is also an impediment to deals, it was said. Many cement producers, such as Italcementi and Sabanci, are family owned or have a dominant shareholder.

There are some rumours in the market of a potential Italcementi Heidelberg tie-up, the second source said. But he added that he was skeptical this would happen as significant overlaps would plague the deal with antitrust hurdles.
While the Lafarge/Holcim deal will reshape the industry, in Europe – and the UK particular – the competitive dynamic will largely remain the same, with one exception, as one player will exit the market through the merger and another will move in.

The merging parties are divesting Lafarge Tarmac, one of the biggest British producers, to comply with regulatory approval conditions. When Lafarge Tarmac was established in 2011/2012 through a joint venture between Lafarge and Anglo American [LON:AAL], the then UK regulator, the Competition Commission, undertook a lengthy review.

Following the Lafarge/Holcim merger, while Lafarge Tarmac will be sold, the Cauldon cement plant in Staffordshire will be retained by the merged Lafarge/Holcim. This means that Holcim’s subsidiary, Aggregate Industries, which previously only supplied cement rather than produce it, will become a cement producer for the first time. It already produces ready-mix concrete, aggregates and asphalt.

In the mature UK industry the four major players – Cemex, Hanson (HeidelbergCement’s UK business), Lafarge Tarmac and Hope Construction Materials – are largely hamstrung by competition issues so there will be limited merger activity as a result, said one of the sector sources.

But Hope, which is the most recent entrant Europe’s cement market, is seen as waiting in the wings and may well facilitate M&A outside its current UK-only operations, according to several sector sources.

The group is backed by Lakshmi Mittal – chairman, CEO and leading shareholder of steel giant ArcelorMittal - whose son-in-law is Hope’s chairman. The company was established two years ago when it bought 150 sites sold by Lafarge and Anglo American subsidiary Tarmac to secure competition approval for their joint venture.

"I'd understood they [Mittal] were quite interested in using the Hope plants as a way for Mittal to get experience in cement production, [with a view to] then expanding,” said a third sector source.

The Lafarge-Holcim merger could result in some good opportunities for other players, and Hope will be keeping a close eye on how things evolve, said Andi Hodgson, Marketing Director at Hope.

Moody’s predicts a modest growth of 2-3% in European cement volumes in 2015 but balance sheets will remain constrained. A small uptick in margins is also expected, according to the rating agency.

Hanson has seen mainstream aggregates, concrete and cement volumes rise ahead of forecasts in 2014 and trade associations are predicting growth of 4-5% in 2015, said a spokesperson for Hanson. Demand is expected to pick up into 2015, although the UK general election in May could result in uncertainty around major infrastructure spending, he added.

Reuters - Italy's Bonomi eyeing stake in Banca Carige - sources

Italy's Bonomi eyeing stake in Banca Carige - sources {http://reut.rs/14vMWJv}

Jan 7 (Reuters) - Italian businessman Andrea Bonomi is interested in taking a "significant stake" in Banca Carige , three sources close to the matter said, as the mid-sized bank prepares to raise up to 700 million euros ($827 million) in a share sale.

Carige and bigger rival Monte dei Paschi di Siena have emerged as the two Italian banks that need to tap investors for cash following a year-long health check of euro zone lenders which ended in October.

Speculation about an investment by Bonomi, who this month pulled out of a race for French holiday company Club Mediterrannee, has pushed up Carige shares in recent days.

The stock has risen 16 percent in January after shedding 70 percent of its value in 2014 to hit an all-time low of 0.0522 cents on Dec. 23.

"Bonomi is still interested in Carige," one of the sources said.

The tycoon discussed last year buying a stake in Carige from the banking foundation that at the time owned almost half of the lender, but they could not agree on the price, the source said.

The debt-laden Carige foundation now owns 19 percent after reducing its holding ahead of an 800 million euro cash call the bank carried out in June to beef up its weak capital ratios.

At current market prices, the foundation's stake is worth around 120 million euros, matching the value of its debts.

Bonomi may consider purchasing part of the foundation's stake and then buying into the rights issue to build a stake of between 20 and 25 percent, one of the sources said.

"This time too it will be a matter of agreeing a price," the source said.

The foundation would like to sell the stake at a premium compared to market prices but Bonomi disagrees, the sources said.

In January last year Bonomi sold his entire stake in Banca Popolare di Milano after failing to bring about a governance overhaul at the co-operative lender.

"Bonomi rules out any hostile moves but he would like to have a significant stake so as to influence matters as he sought to do at Popolare Milano," one of the sources said.

(BFW) Aer Lingus CEO Christoph Mueller to Step Down Feb. 28


BFW 01/07 18:01 *AER LINGUS CEO MUELLER TO STEP DOWN 28 FEB.
BN 01/07 18:00 *AER LINGUS CEO MUELLER HAD PREVIOUSLY SAID WOULD LEAVE IN MAY
BN 01/07 18:00 *AER LINGUS CEO MUELLER TO STEP DOWN 28 FEB.
BN 01/07 18:00 *AER LINGUS GROUP AERL DIRECTORATE CHANGE

Aer Lingus CEO Christoph Mueller to Step Down Feb. 28
2015-01-07 18:03:33.485 GMT


By Joe Brennan
(Bloomberg) -- Aer Lingus says Chairman Colm Barrington to
assume full executive responsibility for group from March 1,
pending new CEO appointment.
* Says Mueller previously planned to leave co. in May

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REuters - Dick’s Sporting Goods explores going private - sources

Exclusive: Dick’s Sporting Goods explores going private - sources

(Reuters) - Dick's Sporting Goods Inc (DKS.N) is holding early-stage conversations with a handful of buyout firms about going private, according to people familiar with the matter.

There is no formal sale process for the $6 billion sporting goods retailer, these people said, and the Coraopolis, Pennsylvania-based company could still decide not to go forward with a deal if the preliminary talks do not pan out.

A representative for Dick's Sporting Goods could not be reached for comment. The sources requested anonymity because the discussions are private.

Dick's Sporting Goods has been pegged by analysts as a potential buyout target in part because its share performance has lagged peers. The stock has fallen 15 percent in the last 12 months, compared with a 6 percent rise from the Standard & Poor's 500 Sector Discretionary index over the same period.

Founded in 1948 by Dick Stack at the age of 18, the company offers sports equipment, apparel, footwear and accessories at more than 597 locations throughout the United States.

Dick’s Holding Early Stage Talks With PE Firms: Reuters

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MORE: Dick’s Holding Early Stage Talks With PE Firms: Reuters 2015-01-07 17:22:19.112 GMT

By Joshua Fineman (Bloomberg) -- No formal sales process, Dick’s could decide to not move forward with deal, Reuters said, citing people familiar. * DKS talking to “handful” of PE firms * DKS couldn’t be reached for comment by Reuters * DKS market cap $6.57b * NOTE: Earlier, FL, FINL, HIBB, CAB Climb to Session Highs Story link: http://reut.rs/1BzzeBE

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To contact the reporter on this story: Joshua Fineman in New York at +1-212-617-8953 or jfineman@bloomberg.net To contact the editors responsible for this story: Arie Shapira at +1-212-617-1488 or ashapira3@bloomberg.net