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Volume: 135,572 ... not significant ...
that was a big slap down at the close.. what happened?? bad news, no news, over sold, over bought. oh wait its a PINKY :)
been holdin up real well round here and off its lows imo.)Keep it up yall would love to see it head back to dollarland!))
> 1.00 cash for CSAR so I really doubt the bankruptcy option. I believe this gets to .50's before either announcement would be made.
I expect the Sr debt to be reconcilled or extended. .20's should be on deck here in short order.
-Hero
Im with you Truth!
Boogie
One of 2 things will happen with CSAR....
CSAR will announce renegotated long term debt..
... and we skyrocket to 50 cents plus...
OR....
they announce Bankruptsy to force renegotiation of debt....
... and we go down to 3-5 cents..
I am betting on OPTION 1....
Holding strong over the 50 day MA is a great sign and as you mention the MMs not bringing it down through the use of small bids is good also. I went by one of their plants the other day and talked to someone in management who assured me that Caraustar is not likely to go out of business any time soon. Now if thats to be trusted considering the biased source...we'll see.
I am tempted to add another 100k shares here. MM's not taking down on small sells. Consolidation after capitulation.. we can see .20's very soon here.
I've been waiting for a major dip.. but nothing.. hmmmm
Slowly but surely.
Patience will pay big here.
Nice!! We got our 50 day close by 2/10's! That is good enuff 4 me. Onwards and UPWARDS next week. We are trending higher folks. CSAR is strong like bull!
Good weekend!!
-Hero
I agree. The bid is very very close to the moving average. If it closes above that then this could test .2152 which is the upper bollinger band using (35, 2. Exciting times. I dont see a pull back before a break out. GLTA as always.
yes look .15 * .1588 CSAR is looking very very exciting. A close > .15 would be huge for us and I think we test the .20's and begin our next accent.
I was hoping to pick up more at a dime.. but I think that's loong gone now.
-Hero
Csar is showing some strength today. Increasing volume compared to the past few days. A push to .15 and a hold there may result in a huge surge in the share price since the 50 day MA is .1496.
The prospects of this breaking the 50 day MA is very exciting. It's been acting as resistance and could be broken any day now. GLTA.
It's quiet here because I believe many like myself are holding shares to see how far this moves before the June Sr. Debt deadline.
I happen to believe CSAR moves towards a buck.. just not sure which month. I do look at this daily though, because I will add on any ridiculous dips. All is well here. People will be chasing soon enough. Has cowbow and phil sold out already?? I'd like to thank them for the heads up.. that's how this came to my attention.
Hope they made out well. I still have 400k long, so I am planning on paying off my mortgage with this play. No rush.
GLTA
-Hero
Sure is quiet around here..
My free shares are getting bored..
May have to add some more to make them company !
I think the closing of this mill for good is a bullish sign for this company. Obviously the main question with this company is if it can continue to operate as a going concern. This mill was already closed on a short term basis, and Caraustar mentions that it will be able to retain all the customers and be able to service them via their other plants. What this does is maintains revenues and decreases cost through the closing of the plant. I'm pleased to see that management is taking steps towards saving this company instead of sitting idly by as the company sinks away. It is of my opinion that Caraustar will survive and prosper and therefore we should see the share price surge. Whether we see this short term or long term is yet to be seen, but I think we'll see a steady uptrend until June and then we will see significant price movement depending on the outcome of the senior debt being refinanced. GLTA.
Form 8-K for CARAUSTAR INDUSTRIES INC
24-Mar-2009
Material Impairments
Item 2.06. Material Impairments.
On March 19, 2009, Caraustar Industries, Inc. (the "Company") announced the closure of its Carolina paperboard mill located in Charlotte, North Carolina, effective immediately. The Company had previously announced, on December 11, 2008, the idling of the Carolina Paperboard mill. The Company will incur approximately $9.7 million in costs associated with this closure. Of this amount, approximately $7.3 million will be non-cash costs associated primarily with asset impairment charges. The remaining $2.4 million will be cash costs consisting primarily of severance and other employee related costs.
Approximately 111 salaried and hourly employees will be affected by the decision to close the Carolina mill. The employees affected by the Carolina mill closure will participate in a comprehensive separation program, including severance (paid as a continuation of salary), continuation of certain health and welfare benefits during the severance period, and outplacement services. The closure is expected to generate an estimated $11.4 million in annual pre-tax savings.
The closure of the Carolina mill is associated with the Company's previously announced plans to achieve greater cost efficiencies throughout its system and better utilize capacity. The Company expects to retain its Carolina mill customers and service their needs from other Caraustar locations.
Forward-Looking Statements
This 8-K contains certain "forward-looking statements," within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that represent the company's expectations, anticipations or beliefs about future events, operating results or financial condition, including, among others, statements regarding the expected amount of costs (including the non-cash portion) associated with the closures and the estimated annual pre-tax savings that the company expects from the closures. Statements that are not statements of historical fact, as well as statements including words such as "expect," "intend," "will," "believe," "estimate," "project," "budget," "forecast," "anticipate," "plan," "may," "would," "could," "should," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by such statements. Such risk factors include, but are not limited to, the Company's ability to continue as a going concern, the Company's ability to refinance its substantial indebtedness, the effect that the "going concern" disclosure included in the opinion of the Company's independent public accounting firm will have on the Company's relationships with customers, suppliers, vendors and employees, fluctuations in raw material prices and energy costs, downturns in industrial production, housing and construction and the consumption of durable and nondurable goods, the degree and nature of competition, demand for the Company's products, the degree of success achieved by the Company's new product initiatives, increases in pension and insurance costs, changes in government regulations, the application or interpretation of those regulations or in the systems, personnel, technologies or other resources we devote to compliance with regulations, the delisting of the Company's common stock from the Nasdaq Capital Market Systems and the impact thereof on the Company's liquidity and ability to raise capital, the Company's ability to complete acquisitions and successfully integrate the operations of acquired businesses, the impact on the Company of its results of operations in recent years and the sufficiency of its financial resources to absorb the impact and the Company's ability to successfully dispose of its assets held for sale. Additional relevant risk factors that could cause actual results to differ materially are discussed in the company's registration statements and its most recent reports on Form 10-K, 10-Q and 8-K, as amended, filed with or furnished to, the Securities Commission. These documents may be accessed through the web site of the Securities and Exchange Commission (www.sec.gov). The company does not undertake any obligation to update any forward-looking statements and is not responsible for any changes made to this document by wire or Internet services.
Who woulda thought.. CSAR "consolidating" mid teens!! We have a long ways to go here.. long ways.
GLTA
-Hero
CSAR showing strength again today just like I said it would following what I called a healthy pullback. This stock is severely undervalued right now. The senior debt has a greater chance of being refinanced given recent macro events which means in the near to long term this stock could explode. Good luck to all
The company recycled paperboard and converted paperboard products. So they won't ran out of work in this domain that's for sure. The share price has quite a bit of potential from what we have right now. Remember, it was $3.00 before the July 2008 crash started. All we see right now is people quickly selling with a small profit meanwhile some big player behind is just waiting to shake weak hands in the process.
I would expect a steady continuous up trend from here with small draw back like we noticed today.
Some profit taking 2day.. but MM's wouldn't take it under .13 CSAR gonna be playing in .20's soon. Any opportunity to buy more under a dime will be a steal in coming weeks.
Asset value over a buck here folks and this company not going anywhere.
-Hero
This looks like just a healthy pullback today after a big move up yesterday. CSAR hasn't been trading with the market anyways, so a pullback on a day where the dow goes up 500 points is nothing to worry about. Nothing goes straight up, and I plan to add in the morning if it pulls back anymore. I expect tomorrow to be a good day for this stock.
CSAR still floating on air. Buys push this thru the roof soon. IMO
Think shes going do it
dar she goes .18s! come on .20 break!!!
Csar waking up!!
Weekly Chart - 12 million shares traded -
http://www.profitspi.com/stock-chart.aspx?id=CSAR&ca=1052140682
Daily Chart - nice to see the upper bollie turning up -
http://www.profitspi.com/stock-chart.aspx?id=CSAR&ca=1210216154
Another buy signal for some traders - 8MA crossing the 13MA -
not to even mention the Trix crossing -
http://www.profitspi.com/stock-chart.aspx?id=CSAR&ca=2075088419
After finally graduating from the Pinkie school of lessons learned
I'm really enjoying the bigger boards i.e. CSAR FITB etc. and I
just want to thank all financial institutions for getting freaky
with their money and derivatives or whatever ! It's much mo better up
here.
--- Now the choir will sing ......
Congrats! Looks like it goes higher in the am to me. gl..
See my board too. tia
Looks like a forced buy-in, I show trades of 124K and 620K right at the bell.
No doubt...man what a spike. I had taken profits here and was waiting for another entry....oh well
Holy S$$T...
Glad I was not watching.. I may have been tempted to sell...
Wonder why it surged ?
- Senior note deal ?
- Short covering ?
- Institution buying in for the long term ?
Any of the above is good !
Was it one of those triple witching fridays or something like that?? sure was fun to watch though...
Lets hope:) UP UP AND AWAAAAAAAAAAY! bid & ask is a little strange tho. 0.0651 0.20?
yah noticed that crazy..maybe shorts coverin like mad?!er peops that know somethins goin on with lots of these plays..keep um goin all i know!)Maybe uptick rule being reinstated gonna cripple shorts and we jus seeing the beginning of the covering?
This strange spike has happened to a couple of others I own. Ex....HAYZ shot up just before close to HOD & MESA as well both with heavy volume just before close. What is going on???
I was away from my desk for 5 minutes!!! .19 WOW. I think my AIG and Fannie sells at the high are going to settle this weekend. Only have 13000 shares want more want more!! All have a great weekend.
Boogie
i dont see anything out there yet..man if there is somethin big look out above out the gate on Monday..i mean heck a pop from .09 to .19 in minutes gotta be somethin happenin eh..look forward to seeing what Monday morn brings!!))
can anybody confirm any news???
headed to .50 laddies and GENT. I guess Sr debt may be secured.. hmmm
yes nutty! omy whats monday gonna bring?!
HOLY CRAP... I just blinked and this shot up to 0.19
Ask is 0.22???
what the heck happened into close wowwwwwwwww is all i can sayyyyyyyyyyyyyyyyyyyyyyyyy
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Caraustar at a Glance: http://www.caraustar.com/at_a_glance.html
"The following is a must read power point presentation"
Caraustar at Deutsche Bank Securities Leveraged Finance Conference Sept 2008
library.corporate-ir.net/library/11/110/110896/items/308631/92408NEW.pdf
Sustainablity: www.caraustar.com/pdf/caraustar_sustainability.pdf
Caraustar is now a billion dollar revenue company comprised of three business groups: Mill Group, Converted Products Group and Recovered Fiber Group.
The Mill Group, comprised of 10 paperboard mills and 4 specialty converting operations, manufactures 100% recycled paperboard and specialty converted products and represents one of the largest recyclers of recovered fiber in the United States. It serves all four of the industry’s principal recycled paperboard markets: folding cartons; tubes and cores; gypsum wallboard facing paper; and specialty paperboard and converted products.
Caraustar's Converted Products Group is comprised of an Industrial Packaging Segment and a Consumer Packaging Segment. With 44 facilities, the Industrial Packaging Segment manufactures paper tubes, cores, edge protectors, and adhesives. It is the second largest producer of tubes and cores in the U.S. The Consumer Packaging Segment, with 13 facilities, manufactures folding cartons, rigid boxes, and offers state-of-the-art packaging services. The segment ranks in the top 10 in folding carton production in the U.S.
One of the largest recyclers of recovered fiber in the U.S., Caraustar's Recovered Fiber Group operates 10 fiber recycling centers that receive, sort, bale and ship fiber to domestic and international customers. The group is also a broker of recovered fiber to domestic and international customers.
Caraustar Industries, Inc., through its subsidiaries, manufactures and markets recycled paperboard and converted paperboard products in the United States and Canada. It operates in four segments: Paperboard, Recovered Fiber, Tube and Core, and Folding Carton. The Paperboard segment produces uncoated recycled paperboard, as well as clay-coated recycled paperboard. The Recovered Fiber segment collects, sells, and brokers recovered fiber. The Tube and Core segment produces tubes and cores that are used in textile cores, paper mill cores, yarn carriers, carpet cores, and film, foil, and metal cores. It also manufactures specialty converted products used in industrial packaging protection applications. The Folding Carton segment manufactures folding cartons and rigid set-up boxes, which are used principally as containers for paper goods, hardware, candy, sporting goods, frozen foods, dry food, film, and various other industrial applications, including textile and apparel. The company, through its joint venture with Temple-Inland, Inc., produces a lightweight gypsum facing paper along with containerboard grades. Caraustar distributes its products through its own sales force, and divisional and corporate level sales personnel, as well as direct sales. The company was founded in 1938 and is based in Austell, Georgia.
OS: 29,545,000 million shares
AS: 60 million shares and 5 million preferred (no preferred issued)
Investor Relations Page: http://phx.corporate-ir.net/phoenix.zhtml?c=110896&p=irol-irhome
COMPANY IR: Janice Kootz 404-352-2841
NOTES: As of 2/27/09 Caraustar has $58 million in liquidity and is in the process of renegotiating its Senior Debt.
Link to transcript of: CSAR - Q4 2008 Caraustar Earnings Conference Call idea.sec.gov/Archives/edgar/data/825692/000119312509044922/dex992.htm
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