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My initial reaction was, as I said, pure disgust.
They lied hoping that they wouldn't get caught, they were, the penalty was assessed.
However, as Ecomike and Guster both suggested, perhaps this inevitable fine was already known both to management and institutional investors (us poor retail schmucks are always the last to know) and it was baked-in to the low PPS.
Once the news was released (unless still another shoe is going to drop!) that black cloud was no longer overhead and the stock was free to move upward.
I had to do some out-of-country traveling, which was good since it coincided with my disgust with FBC about the DOJ fine.
Yes, you are.
NYSE: minimum average closing share price of $1.00 during any consecutive 30-trading-day period.
You're mostly correct, IMHO.
The best line I've seen lately, and one that very aptly sums up the whole situation, is Maya Angelou saying that in the upcoming campaign, the sheets are going to come off.
Rush merely took his sheet off a bit too soon.
One good sign that the stock is doing well is the sudden appearance of meaningless spam.
Different stock!!!!!!!
"Gap and fill" is just another way of saying what I posted: traders bought, it ran on their buys; traders sold, it dropped on their sales. Fundamentals have not changed.
Different strokes for different folks, as they used to say.
It would be a great trade for you, congrats, super job.
Personally looking for much more longer term, but everyone has their own criteria and timelines.
Best of luck!
Whenever there's a precipitous rise in PPS, traders are going to jump in and out. Many people bought very recently in the .70’s & .80’s. People were buying yesterday in the .90’s!
(I saw a message on another board: "Buying FBC, I think it's a bank." )
It jumps to $1+, we have to expect them to take profit.
It has nothing to do with the fundamentals, of course. IMHO still a great buy at these levels.
Once again I have to admit that my wife is correct: my only strength is my sheer pig-headed stubbornness!
FBC: Once they satisfy the NYSE Continued Listing Rule (average share price over a consecutive 30-trading-day period must exceed $1.00) then things will really get interesting.
Best of luck to all.
Once FBC satisfies the NYSE Continued Listing Rule (average share price over a consecutive 30-trading-day period must exceed $1.00)
then things will really get interesting.
Best of luck to all.
FBC: Once again I'm realizing that my wife is correct and my only redeeming quality is sheer pig-headed stubbornness.
All items are premium standards for a high-tech employer seeking first-rate people.
Perhaps they could find a chemical engineer or a cell biologist—daily rate, no lunch provided—on the cheap at Kelly?
Best of luck to you!
Please see my last post. FBC was briefly mentioned in the PNC story, easily found all over the web.
No "buyout", just nonsense from someone who clearly doesn't understand what they're reading.
Try reading the actual story before posting, especially on the FBC board.
PNC bought the retail operations of the Royal Bank of Canada. Last year they also acquired some Georgia banks from FBC, and it was mentioned in passing.
Nothing to do with the rise in PPS.
I don't think that we're disagreeing, just looking at the problem from different angles.
For every voter prevented from voting or every vote miscounted or simply thrown away, there are ten thousand votes cast freely and counted properly, but cast by voters victimized by a lifetime of poor education and illogical thinking.
It's a nasty habit to quote oneself () but I'll indulge this one time: "They don't need to stuff the ballot box; they've stuffed the voters with crap, that'll do it."
DA- You and others here are the expert chartists and I'm both interested in and respect what you read in them.
I wouldn't know a good chart if it came up and bit me in the butt.
I'm a crappy short-term trader!
For me, it's more of a fundamental-based decision. Very fortunately I can afford to hold large positions for long periods of time, and I'm comfortable doing so.
Re FBC, $1.20 for sure, actually thinking more $1.50 but we'll see.
Best of luck.
No shenanigans in my precinct: registering, voting, tabulating, reporting—all straight up.
Yes, of course, cheating happens locally, statewide, nationwide. But overall, in the vast majority of cases, with a few famous exceptions—the hanging chads and that sort of nonsense—our actual voting process is pretty damn honest and accurate. Unbelievably honest and accurate compared to many countries.
The deeper decision-making process among an increasingly large proportion of our population is what troubles me more: super PAC’s, education via selected sound bites, the lack of real knowledge about history, economics, geography, math, science, etc.
Truthiness replacing the truth, opinion replacing fact, the inability of so many people to tell the difference.
Illogical, unreasonable, superstitious hyper-religiosity replacing tolerance and plain common sense. An ever-growing, almost maniacally deliberate misinterpretation of the Constitution and our constitutional principles. A very intelligent, well-educated, well-funded core group who are media savvy, propaganda savvy, quite knowledgeable about the power of The Big Lie and quite ready to use it.
They don't need to stuff the ballot box; they've stuffed the voters with crap, that'll do it.
To say that this or that election will be lost or won because “the fix is in” just gives more progressive citizens a conspiracy-based excuse to hide their justifiable despair over the current situation. Nobody is stealing it, we’re losing it.
With rare exceptions, our election results are not caused by Machiavellian conspiracies. They happen because of deeply embedded systemic problems with education, economics, health care, social equality, on and on, all the usual buzzwords. Take all these dysfunctional parts and make most of your population live with them and under them for generations; you’re going to get an electorate that willingly, openly and honestly makes decisions contrary to their own good.
All IMHO, off my soapbox now.
It's not a fix.
He's the least nutty, least objectionable, most electable Republican candidate.
That doesn't say much about the other candidates, but there it is.
FBC: I certainly don't fault anyone who bought lower now taking profits at this level. Great trade!
I made a very big buy initially, then jumped-in too soon to average down, then had to keep averaging down, to the point that I'm holding a large, large bag.
But I've tucked it away on a back shelf, and I'm so used to it being there, that I'm not selling at this level. Still looking for it to break $1 near term, fulfill the NYSE listing requirements, and run higher from there.
Best of luck to all.
Thanks.
I enjoy it, it's interesting to me, it's a good way to interact with and to observe large numbers of people first hand.
But at 63 years old, I have to admit that at the end of the day I'm beat!
Yesterday, I spent from 5:30 am to 9:30 pm as a roster judge at my local polling place (we had a computer glitch at closing that took 2 hours to fix!)
I treat all voters cordially and professionally, no personal comments or facial expressions or reactions of any kind.
But inside I was amazed at the parade of people, the hordes of people, voting Republican. And not just older folks, people of all ages. How a young, single woman could vote for Santorum is beyond me, but apparently many do.
I suspect that there were some Dems crossing over to vote for Santorum in the Republican primary, assuming that he would be easier to beat in November. At least four or five hinted as much.
Romney won in my precinct and in Ohio, but far from resoundingly.
Whomever the Republican nominee is, the base is still powerful in the Midwest, it's going to be very tough and very close in November.
It’s a deliberate, systematic, quite strategic (though some Democrats find it hilariously hard to believe) battle plan. Been used successfully over and over again.
If you can’t get a majority of the informed general electorate to support the fact-based specifics of your overall platform, get 100% of various fringe groups—no matter how goofy—to support parts of it.
Hope for a fair-sized percentage of uninformed voters who are voting merely in opposition: anyone but him.
Hope that you have enough to win.
I’m worried. They might.
I'm not a pacifist, there have been just wars, there very well may be others in the future (although I'm a great believer in the meaning behind Einstein's oft-quoted, "World War III will be fought with sticks and stones.")
But we've got to stop jetting around the world playing cowboy with everyone and anyone we don't like in the role of the indians. It's not working.
We're war lovers, as a society, it's in our DNA: the Revolution, those pesky redskins, North vs. South, Remember the Maine, the horror of two world wars, my little shindig--Vietnam.
Our sacred right to three assault rifles and a hand grenade in every pot.
When you've only got a hammer, everything looks like a nail.
Good points and I wouldn't quarrel with any of them except just perhaps #8; I'm not sure that revenge should be part of our national policy!
But more importantly, whether or not Quadaffi's regime would have fallen without outside intervention will never be known. I think it would have.
Similarly, Assad's reign of terror in Syria will end, with or without outside intervention.
While I abhor the inhumane slaughter in Syria, I'd still prefer that we use and keep using every conceivable type of negotiation and pressure short of military action.
If military action is necessary, perhaps we could ask Jordan, Turkey or Saudi Arabia to deploy their modern, very formidable, and mostly U.S.-subsidized armed forces to police their own part of the sandbox.
An even more obvious policeman in this situation is Russia, but since they won't even back a UN resolution, I don't have much hope there.
Bravo, exactly right.
By their words let them be known.
"One of the problems the internet has introduced is that in this electronic village, all the village idiots have internet access." - Peter Nelson
LOL. They're the easiest folks in the world to debate, you really don't have to do any preparation.
Just let them speak.
Just wondering: is being an idiot like being high all the time?
Don't know if this has been posted here, but Michael Moore twittered:
“And BTW Rush, your vile & vicious attacks on me over the years – I wear them as a badge of honor. You are sad & sick & I’ve always pitied u.”
Yes, that's what I meant. The people who insist that it's their right to wear political T-shirts, buttons, hats,etc., inside the polling place are ignorant of the law but often refuse to believe it or comply. Every election they cause headaches for the poll workers.
As far as literature goes, people can't be within 100 feet of the front door.
As I said, it very rarely if ever happens, and certainly not enough to sway an election.
More serious is the nationwide Republican contention that we need tighter (read more exclusive) ID procedures to stem rampant (read virtually non-existent) voter fraud.
(I have more trouble with people who insist on wearing a party or candidate t-shirt or button in the polling place than with people who switch parties! )
One time, some years ago, a prospective Democratic voter was asked to step to the side and very politely challenged by a precinct judge who knew that the voter was an active campaigner for various Republican candidates.
The challenged voter adamantly insisted that he was a Democrat and wanted that ballot. Probably with an eye to not causing a scene more than anything else, he was given his requested ballot and allowed to vote normally, on the machine, instead of being given a provisional paper ballot.
It's a loophole, no question, but IMHO not one used very often.