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Shank,
Check your mail.....If you got in then great job.
PR Out...Shareholder meeting being held at the Mustang Ranch. The reason given was that shareholders are use to paying money and getting screwed.
No I did not see it...when did you send it...
jim@terrylmichaels.com..please resend I will check my junk folder...no offense.
Shank,
I don't have PM rights any longer. So send me an email and I will give you my thoughts. Jim@terrylmichaels.com (Windfall Magic)
I didn't have that much..so I am relegated to renting the candy bar.
Wow!!!!
We are all going to be RICH!!! up 66% LOL
I am LDS and I can assure you there is no chant for our greed...LOL
I have not been real focused on trading for a few months I will do some research epic thanks....I still M TRADING JUST NOT 24/7 like I was before. I plan ramping up again in March.
nope...could not pull the trigger. Maybe next year....
Wow...Lemme you are sounding just like me....SCARY...I LOVE IT!!!!
Windfall Magic
Wow, this is great news..oh wait, has anyone heard of this movie?
Dang...nevermind
Store liquidation and inventory reduction. Remember I believe they own most of the properties. Then I would see an renewed marketing approach, and perhaps focused program development with in the remaining stores.
As an ex retail exec and one who has walked though BK's before. This is fairly typical of how the first several weeks or months should go. If the plan goes according to the proposal I would expect Boarder to ready to exit some time either just before Christmas or if were me, I would hold until the first of next year.
Remember the only reason they had to file was to keep the creditors from canceling shipments. Once in BK the DIP can control the purse as to what gets paid. I am not sure if they own all 200 stores that will close but they have around 650-750k in inventory per location and that alone should improve cash flow. Plus those store were under performing dragging the gm and the nm down significantly.
If they own the building or own the leases they can get around .75 cents on the dollar for the properties if not more. Each property should generate a minimum of $2m depending on location. So even if the only own 25% of the locations and the rest they own the leases. this will greatly enhance cashflow. The real key is how do they fix the erosion of revenue due to online competitors. With out sitting in the war room I don't know the answer. I have a few ideas but no data to back it up.
I see news coming on store liquidation and improved cash flow. Plus as they report MOR's to the court (required) if they are positive, we should see PPs improvement. JMO
I agree with Modrica
Agreed.
I don't feel the market cap can justify a $10.00 price. But I think if they play the PR's right they could get themselves into a buying frenzy. We saw that with GM two weeks prior to the cancellation.
But you are correct BGP has not been in the ten dollar range since Feb 0f 08. They have been declining since 05. But I do think we will see a gap up maybe not $10.00 but up there.
OK,
Like I said, My opinion don't bite my head off. Remember even though PIR didn't go into BK they were sub-penny and down as low as .09 and now they are up as high as $11.10.
If the hedges get behind this it will run. Consumers want this company to make it. We will see. No one really ever knows. That is why we play the game right.
The biggest difference is the notes and preferred shares do not exist here. So equity will not be fighting over scraps. Also keep in mind that CEMJQ they were hoping for a buyer. The mud was a bit thick and they also had little real assets like real estate to move in order to get cashflow. The reason boarders filed was to hold off vendors and keep the doors open until they could reset and unload under performing stores. a better model is PIR (Pier One) although they didn't wind up filing for BK because vendors came on board with a plan and the secured interim financing that was just prior to the econo crash and credit crunch. Boarders does not have that luxury because money and credit just is not available.
This is a great in/out, in/out play as long as the speculation is they will survive. Remember how much we made playing the speculation on GM. how many flips were done until that last Thursday.
CEMJQ also isn't retail different business model and cash flow proforma. CCTQ could be used but they just didn't have enough equity in their real estate plus electronics have a very short gestation period and legacy cost and venor restriction killed them.
JMO
Windfall Magic
I play a lot of BK's, I think you are way off base here. Mgt has had a plan in place for months. they are executing flawlessly for a BK. This will be a great day trade stock and long term play. Based on what I have seen, commons will come through and hedge funds will jump in just prior to exit and drive this stock over the $10.00 mark more than likely prior to Q3. That is my opinion, and when it comes to BK's I am usually right.
This will all over the board. My guess we will see pull backs to .18 and runs to close to 1.00. These guys seem to have it together. no skeletons in the closet so far. no preferred s, no notes, clean. this should be a nice clean multi-entry play.
That is my thoughts as well. But great time to hope in and out as this price porpoises up and down.
That is my thoughts as well. But great time to hope in and out as this price porpoises up and down.
Guys...Just so you know..I am alerting it now. Barns and noble have halted dividends and are running into cash flow issues.
They could be next to file. maybe by summer or early fall.
Either way, price should bounce around nicely for profiting over the few Q's.
Windfall.
They seem to be right on top of the plan. DIP, Liquidation approval of cannibalistic stores. I see no reason for them to wipe out shareholders. I also saw that there are no preferreds in the game. That is a great benefit to the commons when moving out of BK.
Shankapotamus,
I don't have PM any longer. so e-mail me. jim@terrylmichaels.com
but the answer is yes...I was in @ .18 out @ .26 and back in @.203
This will be a great up and down ride...lots of money here. need to watch the hedges and the managements holding positions. but this will be a cash cow until at least Q3 IMO
That is what I would hope for. I would like to see .003 maybe .004.
Modrica,
Here is what I found so far.
What documents are required for a stock split?
The company needs to complete the Issuer Company-Related Action Notification Form (PDF) and submit to FINRA no later than 10 calendar days prior to the record date of the corporate action. Submissions can be set via email or fax to (202) 689-3533. Failure by an OTC Equity issuer to provide the requisite notice may constitute fraud under Section 10 of the Securities Exchange Act of 1934.
The FINRA site has more intel.
was under the impression that any public company regardless of the board they trade had to get SEC and FIRNA approval for any change in share count are structure. But I may be wrong as well...I will research and let you know....
Do you think the SEC and FIRNA would approve another split so soon after the last one? It just doesn't seem that they would approve the request because I can't believe that they could come up with enough justification to get the approvals. JMO
yes we do...smiles not to worry this has a lot of play in it.
I stand corrected...the never actually filed. they wee de-listed to a microcap when I bought in. I thought they were in BK status when I bought. I bought on a recommendation from Epic stock and just held it.
Sorry for the mis-speak.
$I love BK plays
BGPIQ....
We posted here..this will be a monster BK bounce guys and gals. No pump from me. BK's are my best plays. Keep in mind how we did on GM, PIR, CEMJQ. profit,profit,profit.
Windfall Magic
More Intel
keeping an eye on the Institutional holders, the Mutual fund holders and the Board of Directors......
Board of Directors
LEBOW BENNETT S 12,328 Jun 17, 2010
PERSHING SQUARE CAPITAL MANAGEMENT, L.P. N/A Mar 30, 2009
EDWARDS MICHAEL 557,000 Jun 17, 2010
HENRY SCOTT D 200,000 Oct 18, 2010
POLLOCK LARRY I 83,211 Apr 1, 2009
Top Institutional Holders Holder Shares % Out Value* Reported
UBS AG 3,305,820 4.59 3,933,925 Sep 30, 2010
WELLS FARGO & COMPANY 2,727,182 3.78 3,245,346 Sep 30, 2010
VANGUARD GROUP, INC. (THE) 2,376,045 3.30 2,827,493 Sep 30, 2010
Pershing Square Capital Management, L.P. 10,597,980 14.70 12,611,596 Sep 30, 2010
BlackRock Fund Advisors 1,150,570 1.60 1,369,178 Sep 30, 2010
BlackRock Institutional Trust Company, N.A. 1,131,442 1.57
DIMENSIONAL FUND ADVISORS LP 1,127,872
CITIGROUP INC. 1,064,987
STATE STREET CORPORATION 1,012,036
GMT CAPITAL CORP 870,300
Top Mutual Fund Holders Holder Shares % Out Value* Reported
VANGUARD SMALL-CAP INDEX FUND 842,719
ISHARES RUSSELL 2000 INDEX FD 727,194
Valic Company II-Small Cap Value Fd 561,490
UBS PACE SEL ADV TR-UBS PACE SMALL/MEDIUM VALUE EQUITY I 532,460
VANGUARD SMALL CAP VALUE INDEX FUND 527,194
VANGUARD EXTENDED MARKET INDEX FUND 417,770
ISHARES RUSSELL 2000 VALUE INDEX FD 408,765
RiverSource Managers Ser-Columbia Multi Advisor Small Cap V 362,414
COLLEGE RETIREMENT EQUITIES FUND-SOCIAL CHOICE ACCOUNT 350,721
TFS CAPITAL INVESTMENT TR-TFS MARKET NEUTRAL FUND 339,941
Many of which have bought as late as Dec.31.....with a combined number of shares equaling 31.6m plus. If they jump the share price will must certainly fall, before recovering on speculation
Stock intel for BGP..Boarders...
http://finance.yahoo.com/q/ks?s=BGP+Key+Statistics
I think this will a big play over the next few months. DIP has been approved already. Store closure are approved, payroll approved. I think they will come right out and carry commons with with them just like PIR.
OK,
I called this several months ago (October I think) Borders Books. (BGP) BK. I hope you played the short play and now based on today's filings and approvals. Watch for the bounce (BGOIQ).
This could be the same as the Pier One play over the last two years when Epic called it @ .03 now at $10.27. Should see this run over the next few days as smart money gets back in the play..229 high today. for the new Cusip but this is a BK play all day. Tec and Epic you know I love the BK's. Guys don't get locked out here.
you heard it here.
Windfall Magic
Where is our monster litigator Susman during all of this? I thought he was all over Equity getting a settlement.
What happened?
Oh goodie.... I was was wondering when it would happen. Is Gelmon putting together a new JV perhaps for Scottish Trousers?
If you call in, some brokers will take your five digit orders....Etrade does.