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I wish I knew and could help you. It is not a good sign that Exide hired Sitrick & Co. to do PR for them during the BK process. These guys are real gunslingers and total spin doctors that love to play in BK and in celebrity disputes like moviestar divorces and even the Michael Jackson estate debacle. I would not look for any insightful PR from these zombies, any time soon.
There's a lot in play, here. The endgame in Vernon is still pending. There are the class action suits. There is the BK/restructuring action. Not good stuff. But then there is the domestic O.E. car biz that is trending towards 16 M vehicles, a huge turnaround. There is improving consumer confidence and lower unemployment in the U.S., and a variable picture still clouding the global marketplace.
This company has been around for like 120 years. I wouldn't be so quick to write them off, just cautious about some speedy and huge recovery in the short term.
Good luck to you, sir!
Why does anyone have to become a moderator in order to express an opinion? Why would you have to leave the board? It's not about being the Alpha-male; it's about having a discussion with content and an exchange of ideas that stimulates everybody's thinking processes. Disagreement discussed in an open forum is a catalyst to attaining wisdom, not a contest of wills.
Happy 4th to you, too. I will not be back. Enjoy your creation.
Tata,
Yank
Who cares? I have posted like 2 messages here since 3/16. I owe no more explanation than what I posted at that time.
robbsbeach said what he said in his post yesterday. I know what I think it said. Maybe robb will clarify, maybe not. Again, who cares?
The traffic on this board has declined dramatically since you arrived. Is that a coincidence? You seem to think it is. I think that it is not. Again, who cares?
I could reprise all your comments about bashing and doom and gloom, but to what avail? It just is what it is!
It's now YOUR board. Good luck in making it something meaningful and of value to investors. I think it served that purpose well for the last year until your arrival.
GLTA. Out!
Tata,
Yank
Salazar is a solid addition to the board.
Stock still trending negatively, worse than many peers.
Anybody have insight? I am still preferring Costco as a better buy at this time.
No "mea culpa" necessary. We all knew it was a simple error.
No harm, no foul.
It has been over a year since the doors were closed, the last PR was issued and over a year since any SEC filings were made. Only the shell remains, no going business operations. The $33 M in unrepaid debt to Jana, Vicis and others remains, as I understand it.
Someone is keeping the trading under symbol KADR alive. Anybody care to hazard a guess as to why and who? I do not believe that a market maker operates independently on a forever basis, especially when management stated before turning the lights out that they had requested all trading be ceased by OTCMarkets.
They need to file their re-organization plan. Could be some time in development as they just hired a restructuring officer.
It's a waiting game of nerves. On the positive side, they have not announced the cancellation of shares. My sense ius that I wouldn't buy more, but I wouldn't sell at these depressed values. Sometimes patience pays off and, beside, how much can you lose at present value?
Good luck.
P.C. you need to go back and delete this post from March 16th to keep your story clean.
Tata,
Yank
LOL. The entirety of posts on this board that even smack of questioning Walgreens supremacy as an investment get labeled by the moderator... that would be you... bashing or doom and gloom. The truth is that the majority of frequent posters on this board departed when you asserted your "leadership" of the board. Porgie Tirebiter has offered the opinion several times that the WAG board was one of the most intelligent on I-Hub. I share that opinion. There were highly insightful and investor-worthy debates on a lot of major issues that clearly are the longterm drivers of both Walgreens share price and that of others in the healthcare arena. There were also a LOT of highly newsworthy PR's and links that were posted here on I-Hub before anybody else saw them because we had a group of involved, well-connected board contributors with lots of insight and inside tracks to a lot of cool stuff no available to the general public. My personal thanks to robb, milo, wickedone and others who gave so much to the relevance of data on this board. I learned tons from these guys and the knowledge they were willing to share in the spirit of great conversation among investors.
You have clearly overstepped the boundaries established for board moderation and, in doing so, have destroyed a real gem of content in a medium that offers way too little true investment-grade discourse. So enjoy your board. You shaped it. You steered it. You skewed it to be favorable to WAG stock because you own WAG stock. But remember as you aim your mouse towards the delete tab and strike my comments from the record, as you did previously, that Walgreens share price is down nearly $8 over the last 60 days and maybe, just maybe there are a few investors out there that might have appreciated a heads up instead of taking it up the...
Tata,
Yank
Better hope AGNC has a parachute for some kind of soft landing because this S/P is hurtling towards the ground in an unbroken fall that is only picking up speed as it nears the point of impact. A few of us tried to warn of choppiness, ahead.
GLTA.
If these guys would get off the stoner 4:20 foodwagon and climb aboard the medical marijuana superliner, there are a lot of us who could attain great wealth.
There is a huge decriminalization effort underway in NH whose "Live Free or Die" state motto effectively describes attitudes, free spirits and alternative lifestyles there. There is also a growing acceptance of medical marijuana clinics both in New Hampshire and nearby Maine. Enforcement being stricter in Mass, the placement of this location just across the border in Plaistow was no accident and is nearby to the huge campus populations in and around Boston without the legal risks.
The yield is 5.5% per quarter. If the S/P declines more than 5.5%, you lose. For the last two quarters, the share price declined more than the dividend paid. Also, divvies are taxed at ordinary income tax rates, not LT cap gains rates. Depending on your overall tax rate, S/P appreciation may be much more important than an attractive divvy.
Right now, if you bought today, the AGNC dividend looks almost too good to be true. Same thing I said before they cut the divvy from $1.25 to $1.05. Be careful here. Turbulence ahead, IMO.
Hope it works out for you.
LOL. Great post!
All the techno-geeks that think microchip fluff is a feature have been proven totally wrong over a span of decades. It's just an added cost that nets no sustainable advantage. Reminds me of the ridiculous anti-theft batteries that both Exide and JCI squandered $ millions on, 15 years ago.
It's a battery. It needs to start a car or run a forklift. It doesn't require the ghost of R2D2 packaged with it to ward off Darth Vader and the no-start stormtroopers. Nor does it need management sitting around and gorging themselves like Jabba the Hut, priming themselves for cushy retirements while shareholders get a sulfuric acid cocktail disguised as a tequila sunrise.
That all is certainly pertinent and the input is surely valuable. However, the quick "down and dirty" synopsis after the "too big to fail" nonsense with the banks is that Congress wants to move beyond Dodd-Frank and have some simple, clearcut policies that prevent U.S. taxpayers from ever financially backstopping Wall Street, again.
I don't think Bob Corker gives a hoot about impact on Wall Street, nor do I think Warner or any of the other co-sponsors of the bill care about anything but preventing another bailout insanity. I'm not taking one side or the other in this back-and-forth, I am just reporting the concern that some huge change may be imminent that could have immediate impact on the mReit sector segment that relies on agency-backed debt.
Yours is a very thoughtful post. Sadly, Exide's wounds are self-inflicted and the era of management ineptitude spans about two decades of failure under multiple regimes.
Exide is a classical example of how NOT to grow a company by acquisition. They bought up all these American and European battery companies... General Battery, Prestolite, Chloride, GNB, Tudor, Fulmen, blah, blah, blah... then never resolved the rivalries between former competitors, or the nationalistic rivalries between management teams from the Eurozone. SO... the GNB guys hated the Exide guys... the Prestolite guys hated the GBC guys... the GNB guys hated the Chloride guys... the Brits hated the French... the French hated the Spaniards... the Scandinavians hated the Italians... the Poles hated the Germans (in fact everybody hated the Germans).
It's interesting that JCI bought Varta, Delco, Optima and successfully integrated these acquisitions into a seamless environment that enhanced the battery division. East Penn grew almost entirely via organic expansion and has been fantastically successful as a privately held company. It's only Exide that has been totally dysfunctional, structured into competing fiefdoms and is now filing for its second bankruptcy for pretty much the same reasons.
The interest rate upticks have surely affected mReit S/P's as the entire sector is pretty much down. The likely congessional action to wind down Fannie & Freddie will become the long term driver for agency-backed paper, IMO, and not in a positive way.
I believe that the pending Federal action is what has been driving the share volume over the last few weeks as institutions begin trading out of mReit's in advance of potentially extreme volatility and concern over what sort of private sector backing will replace taxpayer funded guarantees.
http://www.corker.senate.gov/public/index.cfm/2013/6/wall-street-journal-fannie-freddie-future-finds-a-focus
GLTA
This has been churning heavily inside the D.C. beltway for some time, and Sen. Corker and Se. Warner have finally found something Congress can get done, though the specific content is fluid and continues to morph in committee meetings. You can bet that the big investment houses who own much of the share float in mReits are right on top of this potentially huge impact on agency-backed paper.
There's lots of stuff online commenting on the process, but I am linking a good omnibus report from Corker's website:
http://www.corker.senate.gov/public/index.cfm/2013/6/wall-street-journal-fannie-freddie-future-finds-a-focus
Porgie, you need to look at the Corker initiative in the U.S. Senate.
Word to the wise from someone who respects your views...
Yank
Thanks to Porgie Tirebiter for his service as Walgreens message board moderator for a prolonged period of time.
Good luck in your future investments, and thanks for your efforts here. You are a true gentleman.
Yank
Well, Al, Senator Bob Corker, R from Tenn, says "not so fast" and has bipartisan support for ending the reign of Fannie Mae and Freddie Mac as guarantors of profits for Wall Street "Biggies."
Non-Agency reits are likely to prosper. Hybrid reits are likely to have a profitable future, just not so much. Agency-backed reits are going to continue to take a huge hit, IMO. The discussion has elevated from a debate over dividend amount or over book value... and now reposes in a dissection of Federal government policy as it pertains to MBS assurances by Fannie & Freddie, not just the "tapering tantrums" of Bernanke fans like you, vs. Bernanke bashers.
Of course, some of us "pontificating fools" who knew of this pending legislation and risks to mReit investors must be inferior to visionaries like Al who comprehend the big dividend because, for a few weeks, his $1.05/share will still get paid; he and all the rest of us will just have to ignore that the share price has declined over $5 since his childish, self-serving, egotistical rants commenced.
Nighty-night, Al.
bar, it's the Corker privatization bill. Please see my other post.
All mReits are in the crapper, again, today, with AGNC leading the downward parade. Next comes the $1.05 divvy dump.
Ladies and Gents, this looks to be headed to $20 or below.
Thought I was on "ignore" but who cares, anyway?
"Class" is a concept you fail to comprehend. The discussion commenced when I told another poster that I thought he made a wise choice to sell at $28, at which point YOU launched into heated volumes of disagreement and rude comments that I was stupid to tell people it was smart to sell in advance of pocketing the dividend.
You then made weeks of snide comments and hostile and insulting undercurrents directed against both bar and me.
Yeah, Al you've got class, alright. NO CLASS.
So you just keep up the good fight, and also make sure that the guys on the AGNC board understand there are risks with high divvy mReits which I have loved for years, but fear for the future, and have been warning about after years of investing there with great success.
And please feel free to stop by the XIDE board where a week ago I "insulted" one of the cognoscenti by telling him he was an idiot for claiming XIDE stock was certain to go up 50% on the next trading day. My message was deleted. One week later XIDE filed BK and investors over that 5 day period lost $ millions. I only worked for Exide for 24 years, in a corporate officer level position for the last 5 years, but what did I know?
Plus, you can help out over at the Walgreens board where the mod insulted me, deleted some posts and when I left almost all discussion ended after nearly a year of really intelligent discussion and debate.
Enjoy. Since you seem to feel empowered to follow and critique my posts, you may now feel free to enjoy the silence.
Bye!
Well, you could start by reading my posts on CQP and Darden.
Better yet, maybe I should just take the hint and realize that Investor's Hub isn't for everybody, nor are controversial views necessarily welcome.
Is that the real message?
Who's bashing? This shell comes replete with around $33 million in unresolved debt. I said it could continue to trade, virtually forever. This is just a dose of truth for flippers trying to manipulate the remnants of a sadly failed company with promise but no discipline.
Nope. But they did send a postcard to all those class action attornies that began with the immortal words: "F you."
If somebody decides to buy a chunk at the open of tomorrow's session and it upticks a few cents, you could see the shorts squealing and running to cover in fear.
This will be fun to watch, either way.
Good call! You and I are on the same wavelength.
I think that there could be two explanations for it. One is that management never expected the BK to go through as originally announced and has had an alternative plan in mind, all along.
The second explanation could relate to the old Miranda textual admonition: "can and will be used against you in a court of law."
All other alternative views cheerfully welcomed with an open mind...
If you're looking for an exit, I would wait for the Q assignation which will set off a knee jerk downcycle, then trigger a deadcat bounce which might be the best exit point. JMHO.
Then you can sit back and watch the arbitrageurs play their tenth-of-a-penny trading magic.
I actually do think BK was priced in. Remember that 76% of the float is institutionally held. I can't see so large a group of big players getting surprised, and I doubt that Jeffery Gendell that still owns like 9% of XIDE would tolerate it after being Exide's sugar daddy for so many years.
True, except for one minor detail. Arcadia's management and board all resigned, they shuttered operations and turned the lights out and disappeared into the abyss. KADR also filed reports and numerous 8-K's right up to the bitter end. ROHIQ is a functioning enterprise that has apparently decided they don't have to follow the rules.
I'm not sure that I fully agree with J.T.. We'll have to see if Judge Walsh somehow gets them to true up their filing requirements.
I have never seen stonewalling like this in over 30 years of investing. This is like The Berlin Wall of informational blockades.
I watched a lot of SOTS this morning, but I missed that comment. What a hoot. I love Cramer.
Yeah, I know J.T.. I used to trade an isotope company with Russian technology, Isonics, that continues to trade under the symbol ISON. They haven't filed a quarterly report since 2008! LOL. OTCmarkets is not very buttoned up on this stuff.
By the way, ISON was a great play after the post-911 homeland security stampede.
Someone's buying Rotech, today. I have no clue why, and I bet neither do they.
I tried to fire a warning shot on May 3rd, before all the hoopla started. Reread that post if you want a glimpse into the future, after BK. This is a virtually hopeless red blanket of dysfunctional fiefdoms, rivalries and corporate ignorance in a global setting.
Thomas A. Edison must be spinning in his grave that these jerks created the myth that he founded a now twice-bankrupted Exide.
What a joke!
Common shareholders do appear to be frozen out in a strange world of "Confidential Treatment" filings, a blackout of public relations, a dearth of 8-K's and late or no SEC filings.
We now have entered the netherworld where the 10-K for FY12 remains unfiled, as are the quarterly reports for Q4/12 and, now, Q1/13. I came across the following which I hope will be helpful:
http://100fstreet.com/index.php/2011/03/the-consequences-of-a-late-filing/
OTC Markets rules are much more forgiving than when ROHI was NASDAQ listed. However, they are now flirting with the "three strikes and you're out" delisting criteria. Looks like this could just be another chapter in the as yet unpublished master plan.
In the prior BK, all the common shares were cancelled and the equity parceled out to noteholders. There is presently a lot of unsecured debt. I would expect a swap of equity for unsecured debt and possibly the approximately $80M in notes due through September.
Insiders and management only hold like 2.6% of the float so there is no huge barrier to cancelling the shares.
Well, Jag, looks like the blood has begun to flow with the filing.
Talk about an ill-timed post!
Exide recorded a NET loss of $135,000,000 for the first 3 quarters of their FY2013. That is the published reality.
Any other "spin" on their metrics must have been induced by potions administered by the March Hare.
Good luck!