NEW YORK (Fortune) -- OK, the most pressing question in the world, besides what happened to Anna Nicole's son, is whether this little turnabout we're seeing in commodity prices is the bottom of this precipitous decline, as Howard Cosell would say.

AUTOZONE: Did you see that (Fast) Eddie Lampert is leaving the board of Autozone (Charts)? I don't think this is a good thing for shareholders, not because I think hedge fund honcho Eddie is "the next Warren Buffett" as so many call him. Sure, this stock has been a nice mover since he's been involved. (He joined the board seven years ago.) I think Eddie's departure will hurt the stock, not necessarily because of his magic, but because of the perception that his leaving will be bad for the stock. Ya dig? Stock was down in pre-market trading.

FEDERATED: Another big-time agitator in the news, in this case (Quick) Carl Icahn. Company says that Icahn wants to buy another $500 million in stock in the retailing giant. Icahn holds 2.1 million FD (Charts) shares worth about $86.6 million, or 0.36% of the company .In another words a smidge. Two points: 1) It is surprising that this stock has been stellar because of course it is a "fact" that department stores--as in Federated's brands Macy's and Bloomingdales--are supposed to be dead businesses; 2) It is surprising that Icahn is going after this company given that the stock has done so well. He usually goes for laggards. FD is up over 150% over the past five years while the market's up just some 25% over same period. In any event, I kind of agree with Carly on this one. It's contrarian. Goes against conventional wisdom. And that can work.

BHP: It's the world's largest mining company. And yes we've talked about them before. From Australia way. And yes as mentioned above, could be this sector has turned back around. Stock hit a recent low, below $35, now back at $37. Some analysts are saying the mining story is back. Super investor Jimmy Rogers says it never left, that the recent slump is a pause that refreshes. BHP (Charts) has PE of 11.

LOOSE CHANGE: My new favorite people are the conductors on Amtrak who enforce "the quiet car" rules. In these cars you cannot talk on the cell phone or have conversations. Pick up a phone to check your messages even, and they are on you like a hawk!... Reading two cool books: "Ladies and Gentlemen the Bronx is Burning," by Jonathan Mahler, which is about New York in 1977. Also "Deep Survival," by Laurence Gonzales, about folks who survive near death experiences... Why is Deep Blue talking up MIT cheerleaders? (http://web.mit.edu/cheer/gallery.html) ... And, here is his brewer of the week: http://www.wolavers.com/home/wolavers/organics.html ... Send us yours!

______________________________

E-mail Andy Serwer at serwer@fortunemail.com and see him on CNN's "In the Money" and "American Morning."

Stock picks, stock news, stock advice