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Fee what fee? I live far from civilization and enjoy my life. An argument can me made that all Susan and board has done is protect their jobs by keeping the company afloat. And it is still daylight by the way. IMO.
I looked at past financials and G&A expenses unclear. Definately a lot of money for such a small company. Since going to the pink sheets Susan and board have a good gravy train going. One thing they do is pay a lot of employees real well for doing very little. Less accountability and even less responsibility. IMO.
Ok so say they are not able buy shares even if they wanted to. Can anyone explain to me what Susan and company have done or are doing to justify their jobs. Hiring lawyers and keeping 65 employees just don't add up. They have done nothing to bring down theif G&A expenses 5+ years after the crises. Does anyone know what their accounts get paid. Their finanicials have not or do not change too much that they warrant big money. What does the CFO make now? IMO.
I posts what I do in part because 4+ years after the MTA, this company still opaque and has a questionable future. Can understand that Susan and boards priority is keeping all employees jobs. But you have to question if they have any plan or intention of becoming a viable bond insurer, that wants to commons to increase in value. I would purchase more if I felt I had more understanding of managements goals, priorities or even if they think about common shares. IMO.
Who would restrict the board or employees from purchasing shares? Usually it is easy for insiders to purchase shares of a pink sheet company. And I doubt if the NYID, bars employes from buying shares. IMO.
Rock, thank you for your informative posts. Is the company barred or syncora employees barred from purchasing shares? The oligarchs have to want syncora and the whole industry to survive long term. Questionable, with at every chance they are wanting to cash in on insurance policies. IMO.
Details of assured policies unknown. Syncora wants a heck of a lot more money. It's about 400 million? JPM and others escaped LIBOR debacle. JPM and their lawyers will find a way out. IMO.
I believe JPM will some how escape paying Syncora. JPM will do whatever they have to, to avoid losing in any of these lawsuits. The connected and powerful find a way to not be responsible. The system favors powerful entities, corporations. They may pay a few more fines. IMO.
Good question, management hasn't done anything I have in mind. I will mention one thing. Is syncora barred from purchasing common shares? IMO
If I had a tax loss I could use, I would sell, but I already sold my centerline holding (read up on that gem of a company) shares for a loss. I used that money to install solar panels on a few properties I have. All I am saying way too many public companies have very little interest or reason to care about retail investors, common shares. IMO.
I am here because I have some shares since before the financial crises, so I have accepted that I have lost money. I post to warn newbies that to buy common stock in this company is very high risk. Susan and the board have shown they can keep their jobs, and the jobs of their long time employees. Syncora continues with very high G&A costs, especially lawyers. Highly questionable if Susan and board have any interest in common shareholders. What have they done specifically to enhance the PPS. Syncora is just a very good payday for the board and lawyers. Too bad. IMO.
I understand that I have a pessimistic view io syncora, and I hope I am wrong but syncora with probably settle for enough to keep Susan and most staff employed but they will still eventually be in runoff or BK. IMO.
I understand that there are many retail owners of this stock. Buyer beware. Doubt very much that a hedge fund or any entity would buy this stock to hold as part of its portfolio. Even if syncora has any intrinsic value the risk is too great. When this went over a dollar some made money and ran for the exit. For years now volume has been anemic for too many stocks. Better off putting your money in investment property or long term CD's. To newbies do your homework and ask yourself are my interest being served, with my hard earned money. IMO.
Hose, investing in most stocks not a good idea, especially after the debacle of 2008. Penny, illiquid stocks are speculative at best. The jury is still out on the board of the directors of this company. They have to show me that they want to enhance shareholder value. What specifically have they done for the PPS. They continue to litigate, and with Detroit I believe it is going to take years to resolve. So besides the army of lawyers and a good CPA this board of directors dead weight like too many public companies. IMO.
Irish, Why did security capital assurance write too much high risk policies in the first place, that continue to threaten its existence? Five years after the melt down this management team is opaque about the future of the company. What is/will be the costs of years of litigation? Of not writing new business? Of continuous uncertainty? I don't think they have or are doing a good job at all. What are they doing beside hiring lawyers. And it is highly questionable if they ever had/have any plan or intention to enhance PPS for common shareholders. My guess eventually we will hear of a few more lawsuits filed, a more years of litigation. And even if JPM loses they will appeal. JMHO.
After Detroit and Jpm is over, my guess is we will know what the big money has known, that syncora will never be a viable company, and we will be officially in runoff. Retail is the last to know. Management's values their jobs, their goal and priority was/is keeping their fat paychecks coming. JMHO
Too bad JPM has cooperating politicians and the "system" probing an escape route for these lowlifes. Only in the good ole USA. JMHO.
WSJ article out. Basically saying Detroit bankruptcy could tip Syncora into bankruptcy. Hope it don't happen, but Syncora is in deep do do. I have held a position prior to the financial crises knowing that if commons are worthless I can use it for tax write off. GLTA, JMHO.
Taking a profit is always prudent, especially with pink sheet, penny stocks. There was supposedly 17700 shares shorted today whatever that tells us. That the future of commons still very iffy, and illiquid nature if this stock MM can bleed it lower. How low, depends on many circumstances. There's a good chance, even if we obtain a nice sum from JPM, commons will continue to languish. The market is much more brutal now. A lot of the big players are long gone. Management and the board at many companies are just trying to keep their jobs. GLTA. JMHO.
Thanks for the update rock. We are down again today. Who believes we are still years away from discovering if commons are worth anything. I say potentially three to five years. Investing in this company not for the risk adverse. How many lawsuits, could potentially cripple commons. Too many. JMHO. GLTA.
Thanks rock, good post. Management is in my opinion another uncertainty. They don't appear to have much interest in what happens to commons. Time will tell. JMHO. GLTA.
Syncora suit tossed, they still have a case in another court?
Rock, thank for all your informative posts. Hoping Syncora does get out of the woods and becomes a viable insurer again. Hope that's a long term goal of management. Syncora has been going from one fire to the next, let's hope they can extinguish them all. JMHO.
Too bad that a republican federal judge and governor are calling the shots. Part of a much bigger conspiracy to flatten the unions and middle class, and not just in Detroit. JMHO.
Management has not signaled that they have an interest in becoming viable bond insurer. Their interest priorities and goal it appears is to keep their collective paychecks coming. They potentially could have made some policy decisions that would signal to investors that they want to be competitive again. And of course there are powerful interest the would like nothing more than to put syncora under. This is a long shot, speculative play, but aren't most penny companies. JMHO, GLTA.
Why don't insider's make some buys? However, at least the are not selling. Did anyone attend the annual shareholder meeting? JMHO. GLTA.
Thank you Low. I am a bit discouraged because I believe management good do more to attract interest to the company. Not too sure how hard or how much work they have, but the lawyers are doing the heavy lifting for years now. I hope long term management makes some decisions that enhance shareholder value, time will tell. I might even buy more if it drifts lower. JMHO, GLTA.
Too much money being spent on G&A (lawyers fees etc.) that they continue to bleed month after month. How many lawsuits and lawyer fees are they paying out month after month. Too much uncertainty and management to me has no coherent plan or doesn't want one. Board and all 65 employees continue to collect paychecks for what? They haven't written any ploicies in years and can't write any knew policies. I have been watching this company since the financial meltdown hoping they would show that the big banks and the connected can lose. But as they say, it is not over to the fat lady sings, and it is questionable if syncora survives long term. It might not even be ment to be. JMHO. GLTA.
Was there a shareholder meeting in New York Monday, July 22? And do we have a way of finding out how much they paid in G and A for the last year? GLTA, IMHO.
Does anyone know of anything about the shareholder meeting today? Hoping one day Syncora becomes an investment and not another OCT speculative play. GLTA, IMHO.
I cannot go to the meeting, will be far from maddening crowds until the fall. Management is only going to address what they want to anyway. GLTA longs.
17000 shares shorted today. GLTA longs.
Who selling still? Lets hope Susan and the board make some decisions that benefit common shareholders. Too much uncertainty, with Syncora and the whole business. With reservations I voted yes.
Thanks rock for the AGO news. 14000 shares shorted yesterday. Me thinks very few loose cheap shares. Let's hope managements eventual goal is to increase common shareholder value after the lawsuits and the lawyers are done. GLTA longs. IMHO.
On 6/20/2013 42400 shares were shorted. GLTA longs! IMH.
56000 shares shorted today. GLTA longs.
Big drop on high volume. Makes you wonder does someone know something? OTC stocks not for the risk adverse.
21200 shares shorted today. Hope MM(s) are forced to cover higher. IMO.GLTA longs.
28100 shorted today, doubt it means much. I wonder how many shares float are available, now? My guess not too many. IMHO.
oopss, ment, short shares released three hours after the closing bell, daily.