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Let me know what the hell they are talking about on eeso.When I see 900 posts in 24 hours I can't even look.Some of the so called stand up posters won't talk to me lately.That goes for IR also.I guess the questions were getting toooo tough to answer.No I know the questions were getting to tough to answer.Bottom line with eeso is that promises only go so far.If they start issuing facts in regards to the BIG contracts and the share structure then I eat my hat.Until then....
Hey Glassy,When you get time could you post a PacSun~Psun chart.Its another past high flyer specialty retailer that is beat to dirt.Talked to a DM today from the company and cost cutting measures are being implemented as we speak.Thanks and Have a Great Easter.Seafood??
Deleted double post.Ihub drives me crazy at times.
LOL,The cult mentallity is rampant.About 900 posts in 24 hours.Damn,What are they talking about?Signed contracts and share structure is all anyone needs to know.Bob :))
I am Catholic so I know 100% what you mean.I don't like to talk down a Bishop for the fear I go to hell.Probably landing somewhere in between anyway(lol).Lets say Bishop Martino has created so much controversy in my area that even devout Catholics are pissed.If you have time google him.He has created problems from St.Patricks day mass to the Catholic universities agenda.Then again the whole local government in Luzerne/lackawanna counties are corrupt and being investigated.Latest is the fbi investigating pay 1500/3k and you get a teacher job.Once again if you get time my area makes for a interesting read.The judges putting away teens for money was on 60 minutes or one of those news shows last week and in national magazines.One of my best customers that holds a political position from Lackawanna county is the one that didn't know how 12 mill was in a account know one knew about.Corruption is rampant.
I am thinking the new rules help the big board stocks.I think a lot of covering started already.The pinks and otcbb are played by the ceo's and are the enemy.Bob :))
Agree,That is where the reality of the share price will show next week.I am feeling a string it out approach while shares are sold by someone.If the stock does not move up next week.I could see many large investors dumping.Easter peeps will keep buying the story month after month.All anyone has to ask themselves is why are we at.0185 if we are worth .10/.20 cents.It is that basic.Bob :))
The reason I would expect a move higher is that a.10 offer is on the table.Stay with me here because I am describing what happens with larger big board stocks.If investors believe the.10 offer then the price should move up as it is trading at.0185.If investors believe Jared.He thinks it is worth more than.10.So we will see how many posters are full of shik and what real investors think.Then their is the dilution and or a possible raise of the authorized question.Did not like the wall of selling at .02.Bottom line is if its real it should move higher.I have played many takeovers on the Nyse/Nasdaq and even if a deal is not final the stock moves within a few dollars of the "Possible takeover or value".If eeso moved to the.05/.06 area I would think real money believe's the whole situation.If it goes down or moves a few tenths.I say another pinky dilution machine.Another reason I would think it moves up is in the 3 days after the news I now estimate 2500 posts.Who wins peeps or pro's?lol Bob :))
Hey Janice,I was predicting a little over a 1000 posts on the eeso board from last night to Sunday night.Approaching 850 already.What do you think?Pop and drop?I cant begin to sift through that many posts.IMO next week will tell whats going on with eeso.If everything that is and has been on the table it should move higher.If more paper is being printed or dilution is going on it will be the same old story with pinkies.The selling at .02 by someone raised a lot of flags.Bob :))
Ahhhh,Another person true to my habits.I do eat veggies though.Dipped in God Damn Honey mustard.lol Bob :))
One thing about the Holidays is the eats.Picked up the traditional easter flowers at "The Flower tent" for everyone today.Something I have done since I was a kid.Their is not enough tradition with the last two generations.Too busy with instant messaging~texting~email~my space~face book and now tweetering.We are creating a generation of people who will not know how to interact socially with real people.
Big money always gets its way.It is a nice thought though.
Small Business Loves Obama's Plan
By MELANIE LINDNER, FORBES.COM
Posted: 2009-04-09 16:32:42
Obama's $15 billion plan to loosen credit gets high marks from entrepreneurs.
Entrepreneurs and small-business owners who groaned about corporate government bailouts bit their tongues Monday when President Obama announced a plan to inject $15 billion into the small-business loan market.
While there were pockets of hope for small businesses in the American Recovery and Reinvestment Act -- government grants for eco-friendly renovations, tax deductions for capital expenditures and research grants for technology development--for the most part entrepreneurs argued that those potential opportunities still paled in comparison to the billions of dollars flowing to big corporations. (See "Where's The Stimulus For Small Business?")
More From ForbesBig Stimulus For Small Business
Mixed Review For Obama Tax Proposals
Obama Calls For Patience
"For us, this is a different world than the one we were in the day before yesterday," says Chip Mahan, CEO of Wilmington, N.C.-based Live Oak Bank, which lends primarily to veterinary businesses. "I absolutely applaud the decision to buy up [the Small Business Administration-guaranteed] loans. The main difference is in the philosophy of the SBA, which used to be that it would pay for itself. But if you want to stimulate the economy like this administration is attempting to do, you have to try something different."
The $15 billion, coming from the U.S. Treasury Department, will be used to purchase securities backed by the SBA-guaranteed loans in an attempt to jump-start the secondary credit market for small businesses. Banks that offer SBA-guaranteed loans have hit a lending wall in recent months, as the secondary market is frozen, so banks can't get the old loans off their balance sheets to free up capital for new loans.
For small-business owners, the biggest change is the amount of credit available to them. Loans unavailable last week are likely to be attainable and with better conditions than have existed since the start of this recession.
"Traditionally, about half of banks offering SBA guarantees sell those loans to mortgage packagers like investment banks where they're then sold on the market to investors," says Bob Seiwert, senior vice president of the American Bankers Association. "But no one's buying those packages now, so the lenders can't make new loans."
The litmus test, according to Seiwert, is for entrepreneurs to call their bankers and ask, "If I applied for a loan today, would it be available? How much could I get? What would the terms be?"
In addition to buying up SBA-guaranteed loans in the secondary market, Obama announced the commencement of two important small-business provisions in the stimulus package: First, all fees associated with generating new SBA loans--ranging between 2% and 3.7% for 7a loans and 1.5% for 504 loans--will be waived until the end of 2009.
For entrepreneurs holding off on expansion and investment plans, this provision gives them incentive to apply for a loan within the next nine months while they don't have to pay the fees. The fee elimination is retroactive to Feb. 17 when the stimulus package was signed into law. (The SBA will refund fees paid between Feb. 17 and March 16.)
Second, the SBA will raise the portion of each 7a loan that it guarantees from 75% to 90%, making it more attractive for banks to participate in SBA lending, thereby creating more loan opportunities for entrepreneurs.
"The advice you got six months ago isn't relevant anymore," says Seiwert. "It's time to talk to your banker and find out what's available under the new conditions."
Bad azz shades.I think the one poster over their that wants to brawl is the guy in the middle.Although his siggy looks like the other two.Hysterical lol I just got in and now their is around 800 posts in less than 24 hours.If it doesn't pop next week,starting to smell of fresh ink.
Would New Rule Ease Stock Drops?
SEC Proposes Reinstating Uptick Rule to Rein in Short Selling
By MATTHEW JAFFE
WASHINGTON, April 8, 2009
The Securities and Exchange Commission today unanimously proposed new measures to make it tougher to profit by short selling stocks, including reinstating the uptick rule, although it will be months before any changes take effect.
The Securities and Exchange Commission today unanimously proposed new measures to make it tougher to profit by short selling stocks, including reinstating the uptick rule, although it will be months before any changes take effect.
(AP Photos)Short selling is commonly defined as the practice of selling borrowed stocks, and then attempting to purchase them later at a lower price, thereby profiting from the drop in price.
SEC chief Mary Schapiro warned at this morning's open meeting in Washington that "Short selling may also be used to illegally manipulate stock prices. ... In addition, unrestricted short selling can exacerbate a declining market in a security.
"In the past 18 months, we have seen every major stock market around the world experience steep declines and extreme volatility in securities prices," she said. "Although we are not aware of specific empirical evidence that the 2007 elimination of short sale price tests contributed to this volatility in the U.S. markets, many members of the public have come to associate short selling with that volatility, and with a loss of investor confidence."
"This is a very good rule," said Hugh Johnson, chairman of Johnson Illington Advisors in Albany, N.Y. "It's very favorable, it's very positive, but it's long overdue. It prevents aggressive speculators who don't even own the stock from selling the stock or driving it down without any constraints or limitations or rules."
The uptick rule was originally established in 1938 during the Great Depression as a reaction to the stock market crash of 1929, but the SEC repealed it about two years ago.
"It caused a lot of problems," Johnson said of the rule's absence. "If you continue to drive the price of, say, Citigroup, down, that's got to scare the depositors and short-term lenders. They start to ask the question 'Will this company stay in business?' And if their answer is, 'Well, I'm not sure,' then as a depositor you may pull your money and as an investor or short-term lender you may refuse to roll over your loans to Citigroup, which puts Citigroup in a very tough spot." Today's five proposals also include another version of the uptick rule and three versions of a kind of "circuit breaker" for stock prices.
The variation of the uptick rule, known as the upbid rule, would make short-sellers only able to come in at a price above the existing highest bid for the stock.
The "circuit breaker" variations would be like a "time-out," halting short-selling on a stock for a period of time, such as the remainder of a trading day, when there is a severe decline in its price.
Related
Top 5 Towns Threatened by Defense Cuts New Financial Crisis-Made-Easy Site: Useful? Recessionary Tax MovesThe new uptick rule would be broader than the old one because it would now apply to stocks traded on all exchanges, rather than only the New York Stock Exchange, as with the original rule did.
"It's about time," Johnson said of the proposals. "It's almost as though, like a lot of regulation, it comes after the crisis, not when it should come, which is before or at least during the crisis."
After this morning's vote, the five new SEC measures now get posted for 60 days of public comment before any final rules are applied or implemented, so it will be months before any proposal ultimately takes effect.
Along with last week's changes to the mark-to-market accounting rule by the Financial Accounting Standards Board, today's uptick rule changes will come as welcome news to the markets.
"You can't quantify how much of a part of this crisis they were but, at a minimum, you can say they aggravated the crisis and that's really putting it very politely and very mildly," Johnson of Johnson Illington Advisors said. "The crisis was worsened by the failure of SEC to change the uptick rule and the failure of the FASB to change the mark-to-market rule. These guys just didn't respond to the crisis." http://abcnews.go.com/Business/MarketTalk/Story?id=7291709&page=1
Would New Rule Ease Stock Drops?
SEC Proposes Reinstating Uptick Rule to Rein in Short Selling
By MATTHEW JAFFE
WASHINGTON, April 8, 2009
The Securities and Exchange Commission today unanimously proposed new measures to make it tougher to profit by short selling stocks, including reinstating the uptick rule, although it will be months before any changes take effect.
The Securities and Exchange Commission today unanimously proposed new measures to make it tougher to profit by short selling stocks, including reinstating the uptick rule, although it will be months before any changes take effect.
(AP Photos)Short selling is commonly defined as the practice of selling borrowed stocks, and then attempting to purchase them later at a lower price, thereby profiting from the drop in price.
SEC chief Mary Schapiro warned at this morning's open meeting in Washington that "Short selling may also be used to illegally manipulate stock prices. ... In addition, unrestricted short selling can exacerbate a declining market in a security.
"In the past 18 months, we have seen every major stock market around the world experience steep declines and extreme volatility in securities prices," she said. "Although we are not aware of specific empirical evidence that the 2007 elimination of short sale price tests contributed to this volatility in the U.S. markets, many members of the public have come to associate short selling with that volatility, and with a loss of investor confidence."
"This is a very good rule," said Hugh Johnson, chairman of Johnson Illington Advisors in Albany, N.Y. "It's very favorable, it's very positive, but it's long overdue. It prevents aggressive speculators who don't even own the stock from selling the stock or driving it down without any constraints or limitations or rules."
The uptick rule was originally established in 1938 during the Great Depression as a reaction to the stock market crash of 1929, but the SEC repealed it about two years ago.
"It caused a lot of problems," Johnson said of the rule's absence. "If you continue to drive the price of, say, Citigroup, down, that's got to scare the depositors and short-term lenders. They start to ask the question 'Will this company stay in business?' And if their answer is, 'Well, I'm not sure,' then as a depositor you may pull your money and as an investor or short-term lender you may refuse to roll over your loans to Citigroup, which puts Citigroup in a very tough spot." Today's five proposals also include another version of the uptick rule and three versions of a kind of "circuit breaker" for stock prices.
The variation of the uptick rule, known as the upbid rule, would make short-sellers only able to come in at a price above the existing highest bid for the stock.
The "circuit breaker" variations would be like a "time-out," halting short-selling on a stock for a period of time, such as the remainder of a trading day, when there is a severe decline in its price.
Related
Top 5 Towns Threatened by Defense Cuts New Financial Crisis-Made-Easy Site: Useful? Recessionary Tax MovesThe new uptick rule would be broader than the old one because it would now apply to stocks traded on all exchanges, rather than only the New York Stock Exchange, as with the original rule did.
"It's about time," Johnson said of the proposals. "It's almost as though, like a lot of regulation, it comes after the crisis, not when it should come, which is before or at least during the crisis."
After this morning's vote, the five new SEC measures now get posted for 60 days of public comment before any final rules are applied or implemented, so it will be months before any proposal ultimately takes effect.
Along with last week's changes to the mark-to-market accounting rule by the Financial Accounting Standards Board, today's uptick rule changes will come as welcome news to the markets.
"You can't quantify how much of a part of this crisis they were but, at a minimum, you can say they aggravated the crisis and that's really putting it very politely and very mildly," Johnson of Johnson Illington Advisors said. "The crisis was worsened by the failure of SEC to change the uptick rule and the failure of the FASB to change the mark-to-market rule. These guys just didn't respond to the crisis." http://abcnews.go.com/Business/MarketTalk/Story?id=7291709&page=1
SEC head promises action on short-selling rulesApril 6, 2009 2:28 PM ET advertisement
All Associated Press newsWASHINGTON (AP) - The Securities and Exchange Commission is carefully weighing options for reining in rushes of short-selling that can sink stock prices and will work seriously on a plan to give shareholders access to annual corporate ballots for directors, the agency's chief said Monday.
SEC Chairman Mary Schapiro and the other four SEC commissioners are scheduled to vote Wednesday on new short-selling rules — a change being pushed by investors and lawmakers — and are expected to put forward several separate proposals for public comment.
"We will be very deliberative in our effort to determine what is in the best interest of investors," Schapiro said in an address to a conference of the Council of Institutional Investors, a group representing public, corporate and union pension funds that together have an estimated $3 trillion in assets.
The SEC will open for comment a proposal to reinstate the so-called uptick rule or take other measures designed to stem market dislocation caused by excesses of short selling, which involves betting against a stock.
The uptick rule, which the SEC abolished in 2007, requires short sellers to wait to sell until a stock trades at a price at least slightly above its previous trading price. The idea is to install "a bit of a speed bump in a declining market," Schapiro told reporters after her speech.
Whatever changes are adopted won't stifle short-selling in a blanket way, she said, adding that the SEC is could put forward "about four" possible options on Wednesday.
One option being considered, in addition to reinstating the uptick rule, is a sort of "circuit breaker" for stock prices as proposed recently by the chief executives of four U.S. stock exchanges, Schapiro said.
That approach would force short sellers to sell shares above the going market rate when they executive a short trade — it would only go into effect after a stock price has had a sharp decline by a certain amount, possibly 10 percent.
Short-selling is legal and widely used on Wall Street. The practice involves borrowing a company's shares, selling them, and then buying them when the stock falls and returning them to the lender. The short-seller pockets the difference in price.
In her remarks to the investors' group, Schapiro also said the SEC will consider next month a proposal to ensure shareholders a "meaningful opportunity" to nominate directors for ballots of public companies.
"We're viewing these issues with fresh eyes," she said.
A challenge would be to craft new rules for election of directors that don't allow company attorneys to game the system in a way that thwarts shareholders' legitimate desires, Schapiro said.
Investors and governance advocates have bitterly protested the SEC's action in late 2007, on a 3-1 vote, allowing companies to deny dissident shareholders access to annual proxy ballots, making it more difficult and expensive for dissident blocs to elect their candidates to a company's board. The proposal rejected by the SEC would have allowed shareholders who together owned at least 5 percent of a company's stock to propose changes to the company's bylaws on elections for directors.
The controversial shareholder rights issue had split the commissioners along party lines, with the lone Democrat at the time dissenting in the 2007 vote.
Now with a new chairman heading the SEC, named by a Democratic president, and a Democratic majority among the five commissioners, the investor groups are buoyed by prospects for a change they say could make corporate America more responsive to shareholders.
"It's really a breath of fresh air," said Richard Ferlauto, director of corporate governance and pension investment for the American Federation of State, County and Municipal Employees.
Schapiro acknowledged that after the new short-selling rules, the proxy access issue will be "the most contentious thing we'll confront this year."
"We are wholly committed to moving forward," she said.
Schapiro said the SEC also will consider proposals to require fuller background and skill disclosures by nominees to sit on company boards, and examine the adequacy of current requirements for disclosing executive compensation.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Almost 700 posts since last night.If it goes down with that much interest I smell new ink being put in the printing press.I guessed a 1000 posts by Sunday night.At this rate 1500/2000 in 3 days.Man
SEC head promises action on short-selling rulesApril 6, 2009 2:28 PM ET advertisement
All Associated Press newsWASHINGTON (AP) - The Securities and Exchange Commission is carefully weighing options for reining in rushes of short-selling that can sink stock prices and will work seriously on a plan to give shareholders access to annual corporate ballots for directors, the agency's chief said Monday.
SEC Chairman Mary Schapiro and the other four SEC commissioners are scheduled to vote Wednesday on new short-selling rules — a change being pushed by investors and lawmakers — and are expected to put forward several separate proposals for public comment.
"We will be very deliberative in our effort to determine what is in the best interest of investors," Schapiro said in an address to a conference of the Council of Institutional Investors, a group representing public, corporate and union pension funds that together have an estimated $3 trillion in assets.
The SEC will open for comment a proposal to reinstate the so-called uptick rule or take other measures designed to stem market dislocation caused by excesses of short selling, which involves betting against a stock.
The uptick rule, which the SEC abolished in 2007, requires short sellers to wait to sell until a stock trades at a price at least slightly above its previous trading price. The idea is to install "a bit of a speed bump in a declining market," Schapiro told reporters after her speech.
Whatever changes are adopted won't stifle short-selling in a blanket way, she said, adding that the SEC is could put forward "about four" possible options on Wednesday.
One option being considered, in addition to reinstating the uptick rule, is a sort of "circuit breaker" for stock prices as proposed recently by the chief executives of four U.S. stock exchanges, Schapiro said.
That approach would force short sellers to sell shares above the going market rate when they executive a short trade — it would only go into effect after a stock price has had a sharp decline by a certain amount, possibly 10 percent.
Short-selling is legal and widely used on Wall Street. The practice involves borrowing a company's shares, selling them, and then buying them when the stock falls and returning them to the lender. The short-seller pockets the difference in price.
In her remarks to the investors' group, Schapiro also said the SEC will consider next month a proposal to ensure shareholders a "meaningful opportunity" to nominate directors for ballots of public companies.
"We're viewing these issues with fresh eyes," she said.
A challenge would be to craft new rules for election of directors that don't allow company attorneys to game the system in a way that thwarts shareholders' legitimate desires, Schapiro said.
Investors and governance advocates have bitterly protested the SEC's action in late 2007, on a 3-1 vote, allowing companies to deny dissident shareholders access to annual proxy ballots, making it more difficult and expensive for dissident blocs to elect their candidates to a company's board. The proposal rejected by the SEC would have allowed shareholders who together owned at least 5 percent of a company's stock to propose changes to the company's bylaws on elections for directors.
The controversial shareholder rights issue had split the commissioners along party lines, with the lone Democrat at the time dissenting in the 2007 vote.
Now with a new chairman heading the SEC, named by a Democratic president, and a Democratic majority among the five commissioners, the investor groups are buoyed by prospects for a change they say could make corporate America more responsive to shareholders.
"It's really a breath of fresh air," said Richard Ferlauto, director of corporate governance and pension investment for the American Federation of State, County and Municipal Employees.
Schapiro acknowledged that after the new short-selling rules, the proxy access issue will be "the most contentious thing we'll confront this year."
"We are wholly committed to moving forward," she said.
Schapiro said the SEC also will consider proposals to require fuller background and skill disclosures by nominees to sit on company boards, and examine the adequacy of current requirements for disclosing executive compensation.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Thanks,I hope you weren't with Buckey last night.Heae he had quite a time.lol Bob :))
Damn I like your practices.lol Bob :))
Next week should tell the tale on eeso.If whoever was selling at .02 backs off or believes the story it should go higher.If not its turning into another penny diluter.I do believe it is a real company with real revenue.That means nothing if shares are constantly dumped.Bob :))
Allman brothers~Ramblin man~
The Clash~Should I stay or should I go~
Where is everyone?Canadien Holiday or something.lol Bob :))
Ohhh,Bye the way I have a story to tell you about NBC.They are the tightest sob's in the world.The contract stage is in the works and lets say for the cash I made them last year they are being hard with the negotiations.I always have lots on my plate to update you on.Bye the way did you see the eeso news?Bob :))
Had a great day at all my locations.Money gets me going(lol).I do suspect 2 employees of skimming money though.Working on setting them up as we speak.Liars and thiefs are on my list of trash.I have had the police take people down right in the middle of the mall many times.Lots of scum in the world.Seafood????Hmmm
More corruption in my area.http://www.wnep.com/wnep-luz-teacher-reacts-fbi-investigation,0,6221805.story
Thinking about putting a little oil/grease by my Jeep when they open.Hope those skates have spikes on them.lol Bob :))
Ham~Kielbasi~pierogies and potato salad.Of course I would rather go to Atlantic City and Gamble.I have comps at the trop.Never pay more than 50 a night after my free nights.No,I would rather hang with 10 screaming kids and family.hehe
Ha,We are getting our first Sonic due to open June 1st.I think I will try to trip the skaters that bring the food.lol Bob :))
Rocketred tolds me some short interest rules to kick in also.Have to research it.It seems likely as the moves are definitley being fueled by shorts.Lets hope for a active summer.Bob :))
Easter eats:Found this on google.Kaminsky's in Duryea(5 minutes from home). They won the kielbasa festival two years in a row. I tasted their's last summer for the first time and it beats anyone elses. I lost their card so I can't give you their number, maybe you can call information.
I'm sorry, but Hillshire Farms is not real kielbasa, I don't know what you can call it. You got to get some from the places I mentioned and
let your friends and neighbors taste what real kielbasa is. Good luck.
Hey Biggie,What you eatin for Easter?Yes I do have strange questions.lol Bob :))
My guess on eeso board posts from now till this time Sunday night is 1,008.lol
Not a bad trade.You should have seen a pop today with the news.I did not enter because I thought more volume would have came in.We will see next week wether today was just a lack of traders with the long weekend or more trouble is looming.Watching that .38 as it bounced off it twice the last two sessions.If it does break then.30 looks like support(52 wk low).Ebhi is playing close to breakdown of support with not much volume.Like it,won't commit just yet.Bob :))
Ctb,ebhi held the chart support.The news today was good and more important than most understand.I see myself taking a position next week along with a few of my buds(not the beer)lol.Hard to judge today with the long weekend with traders.Have a Great Easter if I don't talk with you before.Bob :))
Kistler was a azz.I spoke to him many times.Anyone know where he is these days?We had some heated exchanges many times.He is part of the problem in these markets.I would have to say he is at the top of my list for not caring about investors.Get pissed just thinking about the man.Oh yea I think his ex military experience was his claim to being respectable.Thank god he is gone.Bob :))
Agree,With so many stocks near historic lows.I am hoping we all have a good summer also.Keep those billions coming Obama.lol