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St Joe Company (JOE)

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Last Post: 11/20/2015 8:35:17 AM - Followers: 7 - Board type: Free - Posts Today: 0

 

The St. Joe Company was incorporated in 1936 by executors of the Alfred I. duPont Trust.  Today, it's now one of the largest real estate companies operating in Florida.  JOE owns 586,000 acres concentrated in Northwest Florida.  The land was acquired decades ago and has a very low cost basis.  About 406,00 acres are within 15 miles of the Gulf Of Mexico.

JOE is engaged in town, resort, commercial and industrial development and land sales. JOE also has significant interests in timber. JOE creates shareholder value by moving our low-basis land holdings to higher and better uses through a planning, entitlement and development process that creates a pipeline of real estate products for a wide variety of uses. 

One such project involves the relocation of the Panama City-Bay County International Airport. The new airport is being built on a 4,000-acre site in western Bay County that the  company donated to the Panama City/Bay County Airport and Industrial District. Construction of the airport began in late 2007 and almost half of the site infrastructure work, including 75 percent of the primary runway, is now complete. Funding for the budgeted construction costs of the airport has been obtained. The Airport Authority continues to project a May 2010 opening date for the new airport.  The new airport is located West Bay, one of the largest planned mixed-use developments in the United States. JOE owns all of the land in West Bay surrounding the airport (approximately 71,000 acres, including approximately 41,000 acres dedicated to preservation). The West Bay land has entitlements for over four million square feet of commercial and industrial space and over 5,800 residential units.

On April 6, 2009 JOE entered into an standsill agreement with Fairholme Funds, Inc. and Fairholme Capital Management, L.L.C. permitting Fairholme, the largest shareholder, to acquire beneficial ownership of up to 30% of outstanding common stock if Fairholme acquires 20% or more within two years.  The company expects Fairholme will acquire their additional shares through open-market transactions. As a result , the control share acquisition provisions of the Florida Business Corporation Act, which generally provide that shares acquired in excess of 20% will not possess any voting rights, will not apply. The boards's approval ceases to apply if Fairholme’s ownership of the Company’s outstanding common stock drops below 20% for a continuous six month period.  Fairholme owned 21,979,614 shares or 23.8 percent of JOE common stock.

 

 

 

 

 

 

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JOE News: Quarterly Report (10-q) 11/03/2016 05:29:47 PM
JOE News: Current Report Filing (8-k) 11/03/2016 04:18:41 PM
JOE News: The St. Joe Company Reports Third Quarter 2016 Results 11/03/2016 04:08:00 PM
JOE News: Current Report Filing (8-k) 08/03/2016 04:13:50 PM
JOE News: The St. Joe Company Reports Second Quarter 2016 Results 08/03/2016 04:05:00 PM
PostSubject
#117   The St. Joe Company Announces Retirement of Jeff Enterprising Investor 11/20/15 08:35:17 AM
#116   The St. Joe Company Reports Third Quarter 2015 Enterprising Investor 11/05/15 04:54:33 PM
#115   The St. Joe Company Announces Final Results of Enterprising Investor 09/28/15 08:11:12 AM
#114   The St. Joe Company Announces Preliminary Results of Enterprising Investor 09/23/15 09:09:47 AM
#113   The St. Joe Company Announces Tender Offer for Enterprising Investor 08/22/15 01:44:26 AM
#112   The St. Joe Company Reports Second Quarter 2015 Enterprising Investor 08/06/15 06:13:20 PM
#111   JOE Short Interest Enterprising Investor 07/06/15 07:37:46 PM
#110   http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=joe&insttype=&fr 02opida 07/01/15 12:01:05 PM
#109   Being an enterprising investor requires patience. Enterprising Investor 07/01/15 10:18:32 AM
#108   Most shareholders would prefer a stock buyback or Enterprising Investor 06/30/15 06:15:46 PM
#107   JOE currently has $103.8 million available for shareholder 56Chevy 06/30/15 05:57:39 PM
#106   JOE currently has $103.8 million available for shareholder initiatives. Enterprising Investor 06/30/15 05:44:13 PM
#105   Annual Shareholder Meeting (6/30/15) Enterprising Investor 06/30/15 05:39:03 PM
#104   The St. Joe Company Provides an Update on Enterprising Investor 06/30/15 05:17:31 PM
#103   St. Joe Eyeing Residential Resorts; Right Time to Buy? 56Chevy 12/06/14 04:58:10 PM
#102   JOE Announces Watercolor Inn & Resort Receives Four-Star Enterprising Investor 03/19/13 10:17:36 PM
#101   JOE Reports Full Year and Fourth Quarter 2012 Enterprising Investor 02/28/13 11:49:39 PM
#100   JOE Announces Early Termination of Southwest Airlines Guarantee Enterprising Investor 07/02/12 06:50:10 PM
#99   JOE Reports First Quarter 2012 Results (5/03/12) Enterprising Investor 05/07/12 10:02:28 PM
#98   ~ Monday! $JOE ~ Earnings posted, pending or Penny Roger$ 02/27/12 03:51:04 AM
#97   thanks for the news Seminole Red 02/22/12 08:11:37 AM
#96   JOE Leases 20 Acres of Land to Eastern Enterprising Investor 02/21/12 09:50:38 PM
#95   Lots of talk on CNBC this morning... DFW 09/16/11 09:46:16 AM
#94   JOE Permits Fairholme to Acquire up to 50% (9/16/11) Enterprising Investor 09/16/11 09:10:15 AM
#93   JOE Reports Second Quarter 2011 Results (8/04/11) Enterprising Investor 08/04/11 06:08:06 PM
#92   "Land never depreciates, it only depletes." remarks of BamaDreamer 07/20/11 03:38:50 PM
#91   Enterprising Investor, I believe we're on the same Hostile Takeover 07/16/11 02:27:52 PM
#90   Land lasts forever. Enterprising Investor 07/16/11 11:30:02 AM
#88   Lawsuits most likely get settled. Enterprising Investor 07/16/11 11:25:15 AM
#87   Buying opportunity at these levels. Enterprising Investor 07/16/11 11:20:56 AM
#86   Agreed. Enterprising Investor 07/16/11 11:15:29 AM
#85   This is headed back to bargain levels. Hostile Takeover 07/16/11 09:12:49 AM
#84   Last Trade: 18.10 Hostile Takeover 07/16/11 09:11:25 AM
#83   It looks like we will get a close Hostile Takeover 07/16/11 09:10:10 AM
#82   BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Hostile Takeover 07/16/11 09:06:41 AM
#81   right now no ones givin much... Seminole Red 07/08/11 07:38:07 PM
#80   Well it is a fun company to keep DFW 07/08/11 07:28:46 PM
#79   creative bookeeping for creative laws....who knows.i dont.i do Seminole Red 07/08/11 07:13:25 PM
#78   Interesting info you posted there.... DFW 07/08/11 07:03:27 PM
#77   St. Joe, Chairman Bruce Berkowitz Are Subject of Seminole Red 07/02/11 02:41:52 PM
#76   Article said 900 thousand arces and I-Box says 560,000 DFW 06/12/11 05:06:26 PM
#75   several lifetimes is right...its still worth more than Seminole Red 06/12/11 04:10:22 PM
#74   Not sure if it is my eyes, computer, DFW 06/12/11 04:07:33 PM
#73   map of joe holdings/scroll down Seminole Red 06/12/11 02:57:50 PM
#72   Company History: Seminole Red 06/12/11 02:42:41 PM
#71   time will increase values...this depression wont last forever... Seminole Red 06/12/11 01:23:42 PM
#70   LOL thinking out loud in round numbers... DFW 06/12/11 01:20:22 PM
#69   Yep as I have said before I have DFW 06/12/11 12:53:01 PM
#68   all that part of florida needs is people...its Seminole Red 06/12/11 12:40:52 PM
#67   In the late 1950's and early 60's in DFW 06/12/11 11:54:42 AM
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