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I was referring to the stamped court documents Miquelon filed with the court is online.
One of the more serious charges filed In this document was that Walgreens CEO released non-public insider information during a one on one meeting with a large investor, violating the SEC Fair Disclosure rule with a Walgreens senior attorney being informed and doing no SEC follow-up after the disclosure.
Like I said, this could be a very disruptive factor with several large Investment houses should this go to a jury trial as requested by Miquelon, followed by SEC investigation and lawsuits by investors.
As I also hold no significant position in Walgreens either, I do believe this company will be played by the Long/Short investors who strip mine assets valuations.
These corporate equity withdrawals are done a variety of ways including increased share buybacks as well as in the credit markets.
There maybe a future buying opportunity after this is cleaned up.. and some spin-offs occur, however at this S/P level I don't see it..
GLTA!!
Wade Miqelon v Walgreens now available on-line
It is a fact once information is posted online it will there forever, so Walgreens need not pursue having this suit sealed from public view.. and a thank you to the WSJ for a ray of Sunshine for US main street investors who don't have privileged access..
All I can say it is shocking to read this filing... charges with written documents & communication supporting the charges..
Don't count on the long term plans that Walgreens has presented to the investing public, this litigation is a game changer IMHO that possibly will effect the pricing of Wag shares and Corp. governance going forward..
All questions you may have why Volume of shares traded the last few day's fell off can be answered upon reading this lawsuit..
Should you need a copy big.yank let me know because your role as a investing detective is admired for seeing around corners...
GLTA!!!
I agree on a Settlement, I think Miquelon is looking for more than 10M, he also wants some executives skin out of this.
As for Buying Walgreens, Coke just said they see problems with currency headwinds.
As Walgreens will be rolling in and over Alliance Boots debt in addition to funding the buyout it could be disruptive.
I looked at the Boots/Alliance buyout in 2008 just before the market crashed..
Most of those notes were stuck on the 5 banks balance sheets who financed it, and possibly some still is.
I'm thinking they would like to unlock this cash and would fund any financial projection so they could sell into funds.
Waiting for Wag to find a buoyancy level with all these projections is a prudent play.
I bought into Htz at 20.00 after Firossa left.. Icahn is looking to unlock value their so I'm in for the ride.
Anything new by you?
GLTA!
Yank dusts off his Sherlock Holmes Hat:
Well, I never though I would see your investigative mind working again on the Walgreens leadership/decisions Ex CFO lawsuit.
It is good to see you engaged and spot-on about the damages possibly done to Walgreens by its current executives. and the financial leaches looking to scalp the retail investors.
I'm still in LNG and I see you have doing well with your energy holding..
Hope is well and no hard feelings that we agree to disagree
sometimes.
GLTA!!
Wall Street Journal: Pension suite settled
8/26/2014
The pension funds alleged Walgreens board should have prevented the events that led to Walgreen's $80 million settlement with federal authorities in June 2013 concerning the distribution of controlled narcotics.
Under the settlement, Walgreen and/or its insurance carrier will pay as much as $3.5 million of plaintiffs' expenses and legal fees. No additional damages payment was addressed.
"The company will also adopt corporate governance and compliance rules, including "periodic reporting of significant DEA-related matters" to the board's audit committee.
The defendants continue to deny the allegations in the lawsuit but believe litigation would be "protracted, expensive and distracting," according to the company.
And someone might tell you that this companies board of Directors with there chosen Executives are looking over the Owners Interest.
As I recall and will follow up on this with a Corporation charter it is the first Responsibility of the BOD to look after the Owners interest.
Is Investors business Daily a Hate monger
"Walgreen's (NYSE:WAG) fiscal 2016 earnings per share guidance is conservative, but there's less upside than initially expected, an analyst said.
Barclays analyst Meredith Adler downgraded Walgreen on Monday to equal weight from overweight and cut the price target to 68 from 92.
"The degree to which both external factors and internal missteps have reduced WAG's earnings base and will pressure potential sources of future earnings growth is larger than we had expected," she wrote.
Shares fell 4% on the stock market today .
Expense cuts, synergies and share repurchases will generate solid EPS growth despite various headwinds, according to Adler. Those headwinds include U.S. and EU reimbursements and inflationary pressures in generic drugs.
Walgreen's guidance is for EPS of $4.25-$4.60 in fiscal 2016. A Thomson Reuters analyst poll estimates $4.50.
Adler's new EPS estimate is for $4.95, and while it is above the company's projection, she said it does not provide enough upside to justify an overweight rating.
Per-share earnings will also be boosted by share repurchases, which Adler sees at $6 billion vs. Walgreen's $3 billion forecast.
Walgreen has an IBD Composite Rating of 34 out of 99, meaning its shares outperform only 34% of all stocks in the market as measured by fundamental and technical factors.
The Retail-Drug Stores group is ranked No. 159 out of the 197 industries IBD tracks, with Walgreen rival CVS Health (NYSE:CVS) as the group leader with an 80 Composite Rating"
Read More At Investor's Business Daily: http://news.investors.com/business/092214-718410-walgreen-eps-upside-seen-lower-than-before.htm#ixzz3ESFgRx9W
Follow us: @IBDinvestors on Twitter | InvestorsBusinessDaily on Facebook
Just keep buying you will not be disappointed..
Prudent Capitalist Reply requested
As Walgreens has announced it will be setting up a Holding Corporation named WAB... have you looked into the SEC-4 filing?
This is a major change in stockholder rights... also it is a major shift that stockholders currently enjoy in accountability from the executive managers and the Board of Directors.
As a moderator on this board you surely are aware of how this may impact this stocks current selling pricing... with preferred stocks options being offered and additional debt being issued based on Goldman Sacks misinformed earnings projections.
This was a recent SEC filing that Walgreens made when investors questioned the date of G/S projection as Wag CFO resigned over a 1 billion dollar projection error and within a few day the SEC-4 request was filed with this report.. Goldman Sacks report was based on information that was incorrect and misleading. yet Walgreens still released it
I would like to hear your views on this new holding Corporation that will be setup on the completion of the second step..
GLTA!!
Read the S-4 sec filing
If you are a holder bend over because the Boot is coming
LOL
StobbornSOB
Where I get my information about a franchise system is from Investment bankers, the same Investment bankers group members that are now setting Walgreens Boots Alliance up as a holding Company.
These are not insiders, these are folks who know how to unlock value when a company is no longer growing and also giving up Market share to new competitors(WMT)(TGT)(CosCo).
WBA setup as a holding company can then sell off assets such as low performing stores, raising assets thru these sales, setup a franchise division, and reinvesting in emerging markets.
However, the 1.1 billion reporting error has set back Walgreens Alternative and contingency global plans, and the only thing I'm seeing now is a reduction in selling price from here as management and its BOD has lost credibility in financial cash flow projections.
Moody's credit watch review and announcement will seal the downside selloff as leverage levels will exceed its current rating.
GLTA!!
Ask Cramer from "The Street"
Cramer reported Activist Investors want more share buybacks over the 3 billion announced.
Seeing as the major Investors use hedging departments to offset lower selling prices, this may have been a discussion point presented to Walgreens CEO in his Private Investor meetings..
Misleading large Investment funds who now are stuck with dead money invested, this does not play well with these large funds, and this CEO heard their options in ownership positions.
But ask Cramer this question..
GLTA!!
$1,000,000,000.00 Billion in Spending Cuts.
Yep, that is what Walgreens CEO said because Walgreens Co needs to make up for that $4 billion they will not see... from a tax inversion.
There is no way Business Operations/revenue will not suffer from this type of cutting even Chain Saw Al would take notice..
I might think a activist investor may come along within the next year..
GLTA!!
CEO sells at 60.06
Walgreens CEO dumped over $1 million dollars worth of shares Thursday during trading hours, this was coming off its low of 58.93.
In after hours trading on Friday 500,000,000 million dollars worth of stock was purchase above the bid ask price. One has to wonder if Walgreens Co stepped in on Friday After hours, which would be against SEC rules, but rules are for other corporations as we have seen from the past actions with Walgreens Co., violating DEA regulations and pleading guilty to a $80 million dollar fine.
The CEO knows more than us with what the major Investors
and Walgreens have discussed over the last few days, since Inversion was taken off the table in the M&A with Alliance Boots.
A smart investor may choose to wait before Wade-ing(LOL) into a shark tank..
GLTA!!
17.6-20.00 Billion in Debt Coming,
Sharpen the pencils and someone please get a mop to clean up the mess on the floor.
Walgreens former CFO booked 45% of alliance boots earnings(equity) without debt, in the 55% of earning without booking debt this Debt will now have to be carried, this does change the financials a bit.
Stefano Pessina, The largest shareholder in Walgreens Boots Alliance, was disappointed in the downward projection of these 2 companies. It appears someone took their eyes off of the financial projections and concentrated on a inversion merger instead of growing revenue and margins.. and then he announced a 1 billion cut in SG&A..
The issue I am bringing up is Walgreens Alliance boots Credit rating after the merger is Completed, this is a strong headwind as the Tax inversion was taken off the table and growth projection may be flat or below estimates going into 2016 if restructuring is not completed.
144.3 million shares will also be issued to complete this merger so dilution Is a factor in the forward selling price.. One investor in a after hours trade Friday sold off over 5 million shares and the selling price still went down.
I don't believe there is a lock-up on these 144 million shares, so I expect the Volatility will remain until the Credit underwriters weigh in.
ROTFLOL... Huh
GLTA!
Walgreens pre Market $62.00 a share
The $1 billion, three-year plan includes corporate, field and store-level cost reductions Wasson said.
More stores being sold and closed is my view and a step closer
to becoming a franchise.
What do you think of Wassin now.
GLTA!
So Wade is the Bad guy..LOL
This was as much as Wassons decision to Invert as Miquelon, and lets not forget a nod and wink Vote from the Board.
But this is what Walgreens is know for, just sweeping it under the rug and moving on.
The New York Times reported that it was Pessina and KKR that would not go along with rewriting the M&A agreement.
Which was the Legal agreement Wasson and Co. entered into..lol
Well thanks for the input I never received from yesterdays post ..but I acted on it anyway.. no hard feelings so keep in touch
Walgreens Selling Price issue is not over.. as more hedge funds piled on, 1 fund invested over 1.5 billion after the Inversion story broke in April.
Anyway it would have been against the Walgreens families wishes to dig up the founders body and replanting it in Switzerland.
I expect Pay back will be a bitch for Wassin.
GLTA!!
Wickedone, Big Yank and Prudent:
How would you play a stock option when its CFO is Fired and a new replacement is brought in on Short notice??
Time is of the essence on your reply..
GLTA!!
Walgreens Swiss address:
Well this video explains what this planned inversion HQ will look like once they invert and how the locally owned USA pharmacy's gets to pay for Walgreens loophole earnings.
There are some Investors who think this will make America stronger globally.. YUCK..
http://www.cbsnews.com/videos/tax-havens-do-companies-pay-their-fair-share/
GLTA!!!
Walgreens Swiss International Laughing at You:
Purpose of the Company is to acquire, hold and manage investments in other companies and businesses in Switzerland and abroad. The Company may establish branches at home and abroad to participate in other companies at home and abroad, accept representations and enter into all transactions and sign contracts, which may be suitable to promote the purpose of the company, or directly or indirectly related to are related. You may acquire, hold and sell land. The Company may direct and indirect financing for both direct and indirect subsidiaries as well as for third parties, including its direct or indirect shareholders and their direct or indirect subsidiaries, make. You can go for debt securities in any kind of such affiliated companies, including liens on or fiduciary transfers of assets of the Company or guarantees of any kind.
I hope you enjoy doing due diligence after your roll on the floor.
I suggest you start with what is a holding Company..
GLTA!
Scraping the Costa Concordia:
Like Captain Francesco Schettino of this ship, Walgreens captain of strategy will be held to account for creating yet another disaster.
Relocating to Switzerland may be off the table at this time, yet the publicity & customer outrage it has caused shows yet again the lack of judgement in Walgreens Corporation C-suite.
Walgreens is now going into the 3rd year when this Merger was announced and forward projections on Earnings failed to meet projections that private investment equity was shown.
As wicked one noted Mr. Crawford leaving was not a planned departure, this was part of the organizational cuts that the back up planners had developed
Kermit just happened to understand what was coming and took a lifeboat.
Should the Merger complete 2 boards of Directors are unwarranted, so more life boats will be dropped.
Also expect more selling of asset's in Walgreens real estate holdings along with a major downsizing in this department.
Perhaps Hertz will even setup a leasing center in Walgreens stores.
I am in agreement with wickedones view on who will run this company moving forward, however I don't see the operational management structure in place staying the same or increasing.
Alliance boots has a accountable payment management structure as private equity effectively uses this tool to pay back debt and grow revenue.
Cuts are coming, this I have no doubt and will be enacted quickly on how Walgreens or should I say how Alliance Boots run's its operations.
It is to bad that Walgreens Co had allowed a group of huberius Managers to put this company into the Scrap yard..
Stay in touch wickedone.
Ayles:
The Question you should be asking is what jobs will not be outsourced at Walgreens.
Once the inversion is announced I could see Walgreens legal department facing huge cuts.
Next would be the organizational reporting structure culled down
with accountability for sales revenue.
The stores operational cost structure will be modified also in reducing costs in marketing and location expenses.
As you may be aware The President of Walgreens Pharmacy services is moving on from his $5,000,000. million dollar salary to become a pharmacy college advisor, and diabetic consultant.
Not a easy decision.
Since Walgreens will be loaded with debt and more added on once the merger is completed, repaying this will unleash the synergy plans that the Board members agreed to with its lenders.
Should the Merger not complete the synergy cuts will still move forward as net revenue of Rx is on a decline and the margins for operations keep increasing.
Once the announcement is made, grab your profit because either way damage has occurred, political payback will hurt Walgreens image and Most American Corporations who contract for pharmacy services don't want to pay for Walgreens rightful share in USA taxes when they have other choices.. .
GLTA!
The Swiss innovation on a drive Thru.
Now moving Walgreens to Switzerland in search of Tax savings and Innovation for additions onto sales. I bring this Article to their attention (achtung)..as driving revenue is their focus.
And adding a American exit would help in faster service.. I know they are up to it..lol..
But, first my one time friend who no longer speaks to me, I wish he gets a laugh from this post, if not,, I will start calling him Big Yodel until he sells.
http://www.nydailynews.com/news/world/safer-prostitution-zurich-drive-in-sex-boxes-hit-article-1.1494135
Well, that is the latest in a Health and Wellness innovation from Switzerland..
GLTA!!
Did Wassin leave Walgreens Yet?:
Well I think that is the Chaps name who is CEO of Wag, if its not it should be..... after admitting to the (DEA) US drug enforcement agency that his company diverted narcotic's for illegal party usage.\it is only fitting.
Anyway if there is an update please post it..
TaTa...
Alliance Boots, Portugal Banking, and Healthcare Costs:
I See this Investment board has dried up of any interesting discussions.
So let me inject a though into Walgreens selling price, its merger news and inversion questions.
Well, Walgreens has the Russia issue, that Alliance boots has a Wholesale operation in, and questions if its book value is overrated as the European sanctions are in effect.
Perhaps Walgreens recent statement was for another Counties over-valuation on a Alliance Boots operation.
So, now a new problem has arisen and that is in PORTUGAL, yes Alliance boots is the Largest Drug Wholesaler in this country.
Portugal has recently announced its second largest bank(some say it largest) has Money problems, you know cash issues that require a bank to have sufficient funds to pay its bills and return its depositors funds upon request.
This could set off another round of cost cuts in Government funded services, and guess what??? payment for Prescription drugs in Portugal is one of those services..
But, don't despair yet, as Walgreens Corporate inversion revenue will make up for any European cuts in Wholesale drug prices.
Celesio is the second largest Rx Wholesale distributor in Portugal, so don't be surprised if Mckesson will be the next USA company looking into avoiding USA taxes.
Lastly, not one of you investors care to question Walgreens pulling down its 2016 earning guidance.
Now, I can understand why Wall-streets analysts don't ask this question as their Employer/Companies underwrote the AB deal and are still holding millions of shares in there own trading accounts.
So why did Walgreens redact it 2016 earnings guidance in plain sight.. like a Magician doing a card trick?
GLTA!!
Here is how Inversion Works
A American corporation changes it corporate charter and becomes a subsidiary of a foreign Corp., and re-domiciles its corporation charter into that foreign country, say Switzerland and pays income taxes to that country.
The new parent company e.x WBAD(Switzerland incorporation) now becomes the parent corporation.
Wbad now goes out and borrows billions against Walgreens assets,
and takes this money and invests in new out of USA business.
All foreign profits generated from Wbad now go back into Switzerland and taxes are not paid in the U.S.A on this revenue they are paid to Switzerland.
Walgreens USA is now Carrying this Debt on its books and is by law allowed to deduct this debt from its USA income taxes as any income made out side of the USA is not Taxable.
This Leaves the rest of us Citizens picking up The tab for USA government services. Bridges, military, clean water, etc..
This article is about Walgreens tax dodge:
http://www.salon.com/2014/07/10/its_not_just_walgreens_the_absurd_measures_corporations_will_take_to_dodge_taxes_partner/
With Walgreens loaded with USA debt they could pay Zero taxes on its USA income..
This has been studied and that is what companies do after a corporate inversion..
The selling price goes down as debt is added to the balance sheets
and this leverage changes it bond/credit ratings for several years until this debt is repaid, all the while the Company managers are making millions..
This is a shareholder scam as dividends are reduced due to debt, and the bankers and instutions get hundreds of millions in fees.
So now you see why Goldman Sachs and Janus are in favor of this move.
GLTA!!!
Will Walgreens Stock price fall after the Inversion?
Will Walgreens increase its debt in the US from loans and borrowing charges?
Will these borrowed funds be sent overseas for outside of US investments?
Is Alliance Boots looking to expand in the Global market and keep these earnings offshore and out of Walgreens stockholders return in dividends on earning?
Will Alliance Boots take over the Leadership of Walgreens and
move this retail format Into a franchised system as they have in most overseas holdings?
So would anyone care to engage in a discussion?
Text book example of losing Control.
Wassin and his management team, miuqueleon, Crawfoot, and Waggin
will go down in the financial textbooks as and example of inattentive and over compensated Wall-street endorsed management teams that lose control.
The most recent Sec.gov 10q filling disclosed the retirement of a long time member of Wassin team and IMHO other Walgreens management are sure to follow.
As a Barclays analysts has reported, large holding investors are
tired of Walgreens managements inability to deal with the past/future Reimbursement issues in the Healthcare landscape,
Pressure to increase profits and increase its market size.
Added into that survey, month after months in declining customer counts for it Retail store offerings.
Having shopped in these stores Walgreens reported basket size is up, Yet what Walgreens did not disclose was that product offerings on clearance at or below cost being sold has increased..
As Walgreens reported profit margins are down, now can you guess why basket size is up?
The pressure for Walgreens to do a inversion is not based on Tax saving alone it is IMO based on Walgreens ability to service the up and coming debt for the AB merger and have the needed funds to grow in the international Rx Wholesale/retail market.
As Alliance Boots chairman is now the largest holder of Walgreens shares and constructed the ABC Rx Wholesale distribution agreement for Walgreens drugs, it should not come as a surprise that he will force a tax inversion sooner rather than later..
Alliance Boots chairman was cristal clear in his vision to become a global supplier of medications when this merger was announced.
As he will be the single largest owner of Walgreens shares after this merger is completed I expect that Walgreens current executive management will be shown the door after the merger.
GLTA in playing the UP and downs..
Value creation is best measured by share price..Lol..lol
So World com, AOL, RAD, Sears and hundreds of other stocks that once where high flyers are the standards In buying and selling of an equity..
Sorry, I look at opportunities in disrupting the cost curve for retail Rx distribution and so far Walgreens has not achieved this.
Yes, they have reduced staffing, cut employee benefits, refinanced debt, sold off Assets and made hundreds of Buyouts and mergers.
All of these have added to the bottom line some-what which has also decreased customer counts and has lead them to a position to buy larger and larger Firms for illusionary growth..
As I see it, making a pack with the Devil.
Well, the debt accumulated from these buy-outs comes with the revenue, and this debt will be increased by Billions of Dollars owed when the Alliance boots Merger is completed.
That is why Walgreens pulled its projected earnings forecast,
Servicing the AB debt after the second step requires more and more revenue as the Corporate Debt bubble is upon us.
Competition for new money will increase interest rates and drop less money to the bottom line unless a Tax(inversion) rate reduction occurs.
Read standard and poors Global debt wall, should you care.
Walgreens an iconic brand..? It once was.. when the Walgreens family ran it, now it is run by PR agencies, Financial magicians, bucket salesmans and legal counsels that have no accountability to its shareholders, whom think customer counts are not important while beer, wine, cig's, and now these same managers are planning for legalized pot sales, these are the future growth factors a Drug store needs?
Sorry I disagree, Should I choose to invest in Walgreens in the near future, It would be in buying their Corporate debt, After the Alliance Boots buyout..
Which will pay a healthy return..
Or short Walgreens after the 2nd step is completed.
GLTA!!
Value creation by losing customers and profit margins.
Geez Prudent, I am not the only one that is seeing this, numerous hedge funds have commented on Wagreens
Managements need to unlock îts poor performance with a BoD that lacks accountably.
Walgeens front end margins are less than alliance boots and its management is ill suited to compete in a reduced Rx reimbursement Rx market.
Wasson Value was set at 28.00 until the alliance boots M&A.. And will return to that value should the AB deal not occur.
Walgreens Board Split on Inversion:
However as reported, In Walgreens by-laws there is a provision to replace board members quickly that have failed to plan for Value creation.
Several large investors have expressed dissatisfaction with Walgreens current management returning value, in -addition these activists investors have serious doubts in Walgreens managers ability to run a Global business.
Should Walgreens walk out on the Alliance boots 2nd step, the single largest shareholder of Walgreens Co would be paid hundreds of millions in cash allowing Mr Pessina to purchase even a larger controlling interest in Walgreens.
Walgreens WBad venture would be dissolved and the ownership of ABC stock would be split allowing Alliance boots to appoint a new board member to Amerisource Bergen.
As well as potentially changing Walgreens/ABC new Distribution cost structure model, cancelling future Warrants.
The silver fox is now running the Hen House.
GLTA!
After Hours trades:
You can bet your dollar that retail investors where not the folks keeping Walgreens share price from Falling below $74.00 as these are the after hour trades on 6/27/2014.
And why would these interested parties care what Walgreens share price is..??
How about the asset Valuation held on their Books or the increase lending costs Walgreens would incure at a lower price... These financial Institutions would gladly rotate controlled pension funds, ETF, or any other equity holdings they have control of, in setting the selling price(Walgreens) from going down to a fair market value.
If you believe Alliance Boots and Walgreens will take control in the Global distribution of prescription drugs I suggest you should learn more about non US Government controlled healthcare spending and purchasing agreements..
At best these large institutions holdings believe Alliance boots will run Walgreens operations and relocate to Switzerland and book the tax saving into Revenue.... Or the individual retail Investors will jump on board and buy out these shares at or above the current selling price based on the aging population, incomplete information and not on the disposable incomes for these non USA populations.
Nasdaq: 06/27/2014
After Hours Time (ET)
After Hours Price
After Hours Share Volume
16:56 $ 74.10...... 795
16:43 $ 74.093..... 118
16:41 $ 74.093..... 118 - Cancelled Trade
16:39 $ 74.093..... 118
16:38 $ 74.0926.... 341
16:35 $ 74.10...... 119
16:33 $ 74.0815.... 6,611
16:28 $ 74 Low...... 500
16:27 $ 74.23 High..... 200
16:27 $ 74.0784..... 33,622
16:27 $ 74.1216..... 12,002
16:27 $ 74.0784..... 51,139
16:25 $ 74.0869..... 916
16:25 $ 74.1131..... 360
16:24 $ 74.0784..... 12,002 - Cancelled Trade
16:24 $ 74.1216..... 33,622 - Cancelled Trade
16:24 $ 74.1216..... 51,139 - Cancelled Trade
16:23 $ 74.1...... 15,200
16:23 $ 74.10..... 352
16:23 $ 74.10..... 809
16:22 $ 74.10..... 68,488
16:22 $ 74.1216.... . 33,622
16:22 $ 74.0784..... 12,002
16:22 $ 74.1216..... 51,139
16:20 $ 74.0778..... 2,780
16:19 $ 74.0498..... 2,000
16:18 $ 74.10....... 13
16:18 $ 74.10....... 112
16:18 $ 74.0449..... 12,874
16:16 $ 74.10....... 501
16:16 $ 74.10...... 31,654
16:07 $ 74.10...... 1,500
16:07 $ 74.10....... 300
16:07 $ 74.10....... 150
16:07 $ 74.10....... 100
16:07 $ 74.10....... 200
16:07 $ 74.10........ 30
16:07 $ 74.10........ 50
16:07 $ 74.10 ...... 1,000
16:07 $ 74.10........ 360
16:07 $ 74.10...... 3,000
16:07 $ 74.10......... 675
16:07 $ 74.10........ 60
16:07 $ 74.1... 470
16:07 $ 74.10 250
16:07 $ 74.10 20
16:07 $ 74.10......... 700
16:07 $ 74.10........ 500
16:07 $ 74.10........ 800
16:06 $ 74.10........ 100
Glta!!!
Walgreens last Dance with America:
Walgreens CEO Greg Wassin was very coy with investment analysts when asked about leaving the United States an re-incorporating Walgreens Co in the land of lederhosen and secret bank accounts.
Barrons June 24,2014
“We are looking at all and everything,” Wasson told analysts and investors this morning on Walgreen’s fiscal third quarter earnings call, which lasted more than an hour. “That’s complex stuff as we look through this.”
Among the things Wasson and his management team are looking at is “what our tax structure will be” as well as the combined entity’s cost structure, balance sheet and certain management
costs".
Wassin said Wallstreet investors will have to wait until the end of July to mid August for this announcement.
Not surprising in the Announcement is Walgreens is pulling down its 2016 financial goals, as one of its Board of Directors and chairman of Walgreens finance committee was unable to release his own companies (hertz) financials to the Investment communities.
Walgreens stock price is dependent on this current selling price,
So, if you are in doubt as to the inversion question, just look at Walgreens financial numbers then add in the tax savings from leaving America and will find your answer in how it intends to improve its continued missed financial projections.
It was no mistake that a senior US senator commented on Walgreens move so the inversion paper work perhaps is being reviewed.
Glta!!
Perhaps a Education you are missing.
Unusual accounting and a web of partnerships to help sustain the explosive earnings growth that made its stock one of the best performers in late 1990s. Thousands of stock and mutual-fund investors came to own shares.
The partnerships were an efficient way to raise money to fuel growth, in some cases without adding debt to its own balance sheet. Too much debt would imperil its credit rating, particularly important to its vast trading operations. In one case, the CFO recorded earnings from a deal long before it generated meaningful revenue.
Assembling these partnership deals required complex arrangements, many details of which were shielded from the view of investors and regulators. Through it all, Enron, its auditor and its lawyers say they believed they were operating within the letter of the law.
In the end, the carefully constructed partnership deals came toppling down like a house of cards.
Geez how many shielded partnership deals has Walgreens announced in the last 2 years. and a managements retraction of 2016 earnings was announced.
And here is your CEO's statement.
Walgreen Chief Executive Greg Wasson said management was working on the timing and structure of the deal as well as on how to combine management teams, cut costs and work out potential changes in the company's capital structure[].
Lots of work for a company that is just doing a buyout..
LOL..
Woops, a financial engineering screw-up.
As Walgreens missed earnings again, its CEO has announced the 2016 earnings outlook will not be met either.
Walgreens investors have relied on the board of Directors and Executives to provide business plans to enhance earnings, reduce uncertainty/risk, and return value to it owners/stockholders.
Walgreens CEO made a new statement to Reuters regarding its Corporate financial structure, this Structure is being looked into as they move into the last payment for the Alliance Boots buyout, and it may need to be re-engineered to escape losses.
As Debt to equity reflects borrowing costs and this effects dividend returns to stock holders, this a new problem stockholders will be facing.
The Alliance Boots full buyout includes its borrowing cost structure which is not in alignment with Walgreens capital borrowing structure.
And will need to be addressed/ reworked as you all will soon learn.
This maybe one of the many reasons Walgreens has been unable to meet Earnings projections, putting aside the loss of customers, which is as secondary issue management has avoided in accountability to shareholders.
KKR and Alliance Boots IMO understood these issues prior to this 2 step merger which Walgreens is now facing... in returning value to its share holders Walgreens will need to make numerous changes to its capital allocations moving forward..
Uncertainty to value has be introduced with Walgreens current managements buyout, and these refinancing/repayment of debt with forward borrowing costs to its investors has effected earning projections.
Well good luck with the management you investors picked to safe guard your money and remember Rite Aid had grand plans once also..
GLTA!
Welcome aboard Zozki:
Prudent has a point, I don't trust Large companies to do the right thing... unless their feet are held to the Fire.
And I did miss Walgreens run up to the present level, when I sold last year.
As for my current view I DO believe Walgreens engages in Financial engineering and has used these tricks as they have sold off a large number of asset in the last 2 years.
With the Hertz news Walgreens also uses leased based accounting and the Director of Walgreens Finance Committee is a very important position that the CFO is accountable to.
I have a feeling his view and influence at Walgreens Co may have shaded how financial reports are constructed.
As Hertz still has not reported earnings there problems are much deeper than UNCOUPLING a couple of reported earnings mistakes..
Thanks for your input on Alliance Boots and Walgreens, as we main street investors do not have the teams of financial experts reviewing when to buy or sell a Stock it is up to a few to discuss these issues.
I enjoyed your post.
GLTA!!!
Perhaps Vanguard, Blackrock, Wellington Mgt. and Jana is worried:
Seeing as these top institutional holders lost 10's of million Friday with Htz holding, they would not be Happy.
These are the same Institutional holders of Walgreens Stock, and do understand what a Corporations financial Committee &BoD is responsible for.
GLTA!!!
Will Hertz(HTZ)Sec judgment problem roll into Walgreens.
In case you investors have not heard Hertz(HTZ) car rental failed to file a SEC required earning release(10Q). Red-Flag for Investors:
The current Hertz(HTZ) Sec filing stated that its Financial/ earning SEC report for 2011 cannot be relied on and it earnings for 2012 and 2013 Financial reports are in question also.
Well this issue involves the (HTZ) CFO who recently resigned..
And the (HTZ) CEO Mark F. who is a ELECTED Walgreens BoD member, and the CHAIRMAN of Walgreens finance committee has a problem..
MR F. positions on Walgreens & the Hertz Finance committee are responsible for Corporate oversight in Revenue recognition, Corp Assets, Liabilities and Retained Earnings.
Seeing as there is a problem in Judgment at Hertz and it is linked to Financial/Accounting oversight, perhaps a outside accounting review of Walgreens books would Calm some Investment bankers and pension funds. who took a beating on Hertz stock price Friday and most likely will see more down side into the near future on htz..
Will this Hertz issue cast doubt on financial oversight at Walgreens???
I don't know..
What do you Investment folks think?
GLTA!!!
Hertz restates 3 years of Earnings;
http://www.cnbc.com/id/101728453
And guess who is Chairman of Walgreens Finance Committee.
Mr. Frissora has served as the Chairman of the Board of Hertz Holdings and Hertz since January 1, 2007, and as Chief Executive Officer and a director of Hertz Holdings and Hertz since July 2006
http://investor.walgreens.com/committees.cfm
What does a Finance committee do.
http://www.nonprofitaccountingbasics.org/reporting-operations/finance-committee-committee-chair-responsibilities
Good luck with your dream..
A POS rises: PVCT
And DSCO is down.
http://finance.yahoo.com/q?s=pvct
Look into the piece of Shi+.... pvct with no revenue or marketable product, and more lawsuits than a room full of flees and its selling price runs higher so tell me something is not wrong with DSCO's management and BoD's.
It must be nice for Dsco's management to collect pay checks and sit on their @ss day after day.
GLTA!!