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FOrm 8K
23-Jan-2009
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 20, 2009 Charles L. Keagle informed the Board of Directors of Vineyard National Bancorp (the "Company") and its wholly owned subsidiary, Vineyard Bank, National Association (the "Bank") of his resignation as a director of the Company and the Bank effective January 20, 2009. Mr. Keagle's resignation did not result from any disagreement with the Company concerning any matter relating to the Company's operations, policies or practices.
Finally , new 8k form posted an hour ago..I didnt read it yet
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6081746
From last report ( Jan.16th ) ,
Calpers sold 86,589 shares.
Exchange Capital Management Inc sold 55,750 shares
Mainstream Investment Advisers Llc sold all its position ( 24,055 shares )
January 15th .
Capstone Asset Management Co sold 20,620 shares
January 14th
Gw Capital Inc sold 1,606,898 shares !!!
According to the last report ( Jan.16th ) , Calpers have been selling a good chunck of their position on VNBC.. 159,255 shares !
http://www.mffais.com/srz.html
As you could see see , someone got into SRZ with 422,699 new fresh shares ( reported on January 12th ) .
The reason I'm happy is WHO that someone is . SAC Capital . Geez , we're talking about Steve Cohen here , one of the most successful hedge fund manager in this entire world. The guy still charges a performance fee of 48%..I , for sure , would have been happier had it been "King"John Paulson from Paulson & Co. but I'm ok with Cohen behind it .
Mhhh..things are getting more and more interesting .
Stock options again !!
This time : 500,000 to NEEB D GREGORY , the Chief Investment Officer..wow !!!
These people MUST be so confident about the short and long-term future of that company .
http://phx.corporate-ir.net/phoenix.zhtml?c=115860&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NjA0ODI5OSZhdHRhY2g9T04mc1hCUkw9MQ%3d%3d
" Bank of America financing news coming out next week!!"
ahahaha..How do you it is comigng next week? I like your enthusiasm .
More stock options given !!
200,000 to Schwartz Daniel,SVP, North American Operations
http://phx.corporate-ir.net/phoenix.zhtml?c=115860&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NjA0NjIwNSZkb2M9MQ%3d%3d
Basically they told the london-based fund ( Natixis ) to give them 60 more days until they come back requesting their 11M euro ( one of the reason our COO has been sent to Germany I guess ) but if you read more carefully , they're mentioning Bank of America 's name !!
"that the Company intends to enter into with Bank of America, N.A. relating to its credit facility with such bank."
New 8K filed !
http://biz.yahoo.com/e/081224/srz8-k.html
Do you read what I read in the 4th paragraph?
2 form 4 filings today !
CFO and Chief accounting Officer are both receiving stock options
http://phx.corporate-ir.net/phoenix.zhtml?c=115860&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NjA0MzU5NCZhdHRhY2g9T04mc1hCUkw9MQ%3d%3d
http://phx.corporate-ir.net/phoenix.zhtml?c=115860&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NjA0MzU4NyZhdHRhY2g9T04mc1hCUkw9MQ%3d%3d
Mannn , something is maybe bound to happen sooner than later !
Hi jdsgungho , How are you doing?
For some reasons , I had that feeling my friend..a few times , I raised that question about Doug's ability or willingness to raise that cash.. !
http://www.mffais.com/vnbc.html
GS , Calpers , Vanguard are still in . Any idea is this is updated daily? Man , we need to follow those funds moves as close as possible .
Hey guys , here is an article from the Washington Post that is going to get published tomorrow..
It doesn't look encouraging when you read this but at least we're having this feeling that Ordan is working his a*** off to put this company back on the rails .
http://www.washingtonpost.com/wp-dyn/content/article/2008/12/21/AR2008122101922.html
Jdsgungho , thanks a lot for your input . Really appreciate it .
Hello Croireavenir , If I may ask you : which bid are you talking about? Who or what is ST?
tks.
Hey everyone , just read that :
December 16,2008
Sunrise Senior Living Inc CEO: To sell off all non core operations; no plans to build any new homes in 2009
- To concentrate focus on assisted living senior properties only
- May elminate jobs in 2009
- Continues to work with creditors over debts due Jan 31 2009
http://www.tradethenews.com/stock-news/Consumer-discretionary/Sunrise-Senior-Living-Inc/SRZ/508867
talking about their tier-1 capital ratio...
After RBC rose theirs to 9.1 ( TD in november ) , everyone expects BNS to adopt a similar position in order to bolster its capital .
lol I did not say BNS could not afford that . I just dont see the interest into acquiring VNBC right now for BNS . Rick Vaugh himself said earlier this month that BNS would be extremely cautious given the economic condition .
Nice try about what? I didnt try to attack you or whatever . I wanted a better understanding . I live here in Canada and for the past few weeks ,we keep hearing economists from those banks ( BMO , TD and BNS ) telling us that this crisis could last for more than 2 years .
Here are last week and Today's articles about BNS need of cash I just dont see How they would get interested into VNBC given the current market condition .
http://www.financialpost.com/money/story.html?id=1054756
http://network.nationalpost.com/np/blogs/tradingdesk/archive/2008/12/16/bmo-joins-the-10-club.aspx
This is one of the best input I read on this stock .
My question is :
Was Douglas Kratz seriously interested when He came up with this buyout offer or could it have been a trick to raise some sort of interest ?
Hi GNOTE , I love your input on this stock but this is the 2-3 rd time you keep mentioning Bank Of Nova Scotia who appeared to be interested in buying a U.S Bank..
My question is Why on earth Bank of NS would be interested in a crippled community bank while they are the most in need of cash among the big 6 ( canadian banks ) . Analyts for the past 2 days speculate that BNS may have to raise between 600M-1.4B to shore up its tier 1 capital ratio so I just dont understand why they'll be interested into acquiring VNBC .
Moreover , the us$ doesnt help the case here .
Your thoughts please?
Man..we've reached the 0.19 ..they're snatching up shares at those low levels..incredible..I wonder How long they could do that..
what the heck happened?
stock2windaily - Who said that I was upset? I just questioned this buyout thing...until a great member made me realize I should have read the November 8K !!
With a few calculus , you'd realize that depending on what the chairman raises , the offer would potentially represent a $2-5 offer per share . ( and this not including a competing bid !! )
I was never upset..to the opposite , I maxxed my position on this one for the past few days. :)
I dont see any other reason why the POSTER started that rumour..He clearly tried something..
Here is the original 8k that He copied
-----------------------------------------------------
22-Sep-2008
Change in Directors or Principal Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 16, 2008, John F. Gaul, the Company's General Counsel, chose to participate in the Company's previously disclosed voluntary separation program (the "VSP") which the Compensation Committee of the Company's Board of Directors has extended to include Mr. Gaul. It is anticipated that Mr. Gaul's departure date will be sometime during the latter part of the first quarter of 2009. In connection with Mr. Gaul's participation in the VSP, he will be entitled to the following upon his departure: (a) a severance amount equal to two years base salary and target bonus (based on his 2008 base salary of $375,000 and target bonus of 75% of base salary); (b) two years of continued welfare benefits coverage pursuant to the Company's benefit plans, (c) outplacement services for up to one year; (d) accelerated vesting of 500 shares of restricted stock; and
(e) accelerated vesting of Mr. Gaul's 4% interest in the Company's Long-Term Incentive Cash Bonus Plan relating to its UK and Germany ventures (the "LTIC Bonus Plan), which interest is expected to be approximately 40% vested at the time of his departure. As disclosed in the Company's 2007 Form 10-K, the estimated future payout to Mr. Gaul with respect to his 4% interest in the LTIC Bonus Plan is approximately $2.7 million.
and it is understandable..
Here was the response to the instigator
" You cut/pasted/edited the old 8K with John Gaul's (General Counsel) announcement. This is not a real announcement from the company. None of Nadeau's share lots are of 500. Nice try. What were you hoping to accomplish?"
Sorry Ogclip..the message was posted with a general aspect ..not intended to you specifically :)
Mhh..I have this impression that this buyout thing is a pure non-sense..too many manipulation on this one..
Got on the yahoo' s board . Apparently Marketwatch has posted something on it . We cant read anything when we click on the link tehrefore the orginal poster copied-pasted the news..
http://www.marketwatch.com/newscommentary/specialreports/SRZ
On December 11, 2008, Rick Nadeau, the Chief Financial Officer chose to participate in the Company's previously disclosed voluntary separation program (the "VSP") which the Compensation Committee of the Company's Board of Directors has extended to include Mr. Nadeau. It is anticipated that Mr. Nadeau’s departure date will be sometime during the latter part of the fourth quarter of 2008. In connection with Mr. Nadeau's participation in the VSP, he will be entitled to the following upon his departure: (a) a severance amount equal to two years base salary and target bonus (based on his 2008 base salary of $375,000 and target bonus of 75% of base salary); (b) two years of continued welfare benefits coverage pursuant to the Company's benefit plans, (c) outplacement services for up to one year; (d) accelerated vesting of 500 shares of restricted stock
Hope its just a rumour...we dont need that kind of news at the moment..Nadeau was appointed like what? a year ago? sept 07 and He might leave NOW??? Come on..Is there any disagreement over there with regard to the numbers?
Hey Harley , think we could hit the 3.50 next week?
waiting the 1.50 to reload to the max..
By the way , have any of you taken a lot at VNBC? woww..yesterday it was @ 0.18..today it went up to 0.96 !!!!!!
Good calll Harleyboy !!!
I really want to increase my pos. if it could fell a little bit today..I will plunge into it closed eyes !!!!!
Superbee383 : Moving on air? lol..like that...
I'm wondering if I should not increase my position on it..
Hi guys , just tapped $2.03 @ 09:49:50 ...isn't this moving up too quickly?
$1.50 @ 13:09:23 !!
Hey guys , I'm a newbie over here...I'm following you on this one..
Hi everyone...I'm a newbie here..
Got in Nov 7th for a quick gain but got greedy and subsequently got smashed. Today is the first time since then that the stock reaches back the $10 !!
Any Chart reader specialist in here?
UPDATE 1-Solar panel glut expected in 2009-Suntech
By Gerard Wynn and Gabriela Baczynska
POZNAN, Poland, Dec 8 (Reuters) - The solar power sector will produce an over supply of solar panels in 2009, said Zhengrong Shi, chief executive of the world's biggest module manufacturer Suntech (STP.N: Quote, Profile, Research, Stock Buzz).
"We expect definitely an over supply of modules next year," he told Reuters in an interview, adding Suntech expected its euro-denominated prices to fall by 10-15 percent next year, by 25-30 percent in dollars, compared to the third quarter of 2008.
"The financial crisis has accelerated that situation," Shi said. The entire sector could halve the cost of solar power before 2012, he added, assuming companies cooperated on cutting prices across the supply chain.
Low-carbon solar photovolataic (PV) power is much more expensive than fossil fuel alternatives and provides a tiny fraction of the world's electricity. The sector is under pressure to cut costs to prove it can scale up.
"Definitely it's do-able," Shi said, referring to a goal of cutting the cost of solar-powered electricity before 2012 to about 16 euro cents per kilowatt hour, compared to a guaranteed solar power price in much of Europe now of about 30 cents.
"We can't do it on our own. The whole industry has to contribute, can achieve it. Otherwise the market will be limited, governments will get impatient."
Suntech makes solar panels from highly purified silicon. A generally less efficient but cheaper solar PV alternative is called thin film, made from dyes and other materials, and that sector is cutting prices, too.
"We haven't cut prices of our solar panels as they are already priced below the market but others have been lowering their prices visibly over the last months," said Mike Ahearn, chief executive of First Solar (FSLR.O: Quote, Profile, Research, Stock Buzz), a thin-film manufacturer.
Solar power stocks have been battered in recent months on concerns that tight credit markets could hurt financing of large projects. Suntech shares have been down by about half in the past calendar month and First Solar about a fifth. (Reporting by Gerard Wynn and Gabriela Baczynska; editing by James Jukwey)