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Actually what he said was that he would be short if the cost to borrow weren't so high (and I presume if there were shares out there to short) which is like saying I would be long if I had the money to buy shares LOL.
So, I guess I'm not sure what his motivation is since he has no position either way........
MA - saw your comments on the article and your response to Chimin. I do believe I have to agree with him in this case though as CCME could very well be the biggest scandal of 2011 but not for the reason he thinks.
I'm hoping there is some investigation of alleged document falsification and stock manipulation - maybe he and his cronies will get pummeled as a result. That would be the "scandal" I would like to see.........
-Chuck
He should also consider refunding the compensation he is likely receiving from short hedge funds for publishing his crap. They're clearly not getting their monies' worth as the intended results aren't happening.....the shorties should have picked a different horse to ride.
Joe - that's a very key point. Last time around with CCME was similar to the internet stock implosion a number of years back where many (yours truly included) had their asses handed to them because they were so heavily margined....many still haven't recovered. Ironically, for me, this 18 month run in CCME has provided a nice rebound from the "dark days" mentioned above.
-Chuck
I thought I read (it might have been an "interview" of Carson Block's father?) that MW had more stuff, there was talk of a Citron 2, Chimin has more, etc. I guess it's a question of whether you actually believe the things these people say or think they are BS - I'm not talking about whether you believe the hit pieces but rather do you believe these people when they say they have "more". IMO, they may have more but it's likely to be more of the same weak, refutable crap that is already out there. I mean, wouldn't you lead with your best stuff??
I also thought I read that MW would come out with round 2 after CME responded to round 1. So what if there is no further response from CME? In that case the next thing we see from the company is the 10K - what will the shorts response be to that b(besides to put their heads between their knees and kiss their asses goodbye)?
-Chuck
I'm with you...........
Joe - understood. I guess my point is that until we have a change to the website or an announcement from the company confirming what you are hearing, then.......
She/they are still listed as the IR Contact on CME's website.....so until further notice.......
Marty - agree completely. However, in the interest of productive discussion, some posts made to public forums like this one are likely to contain ammo for the shorts. I'm not exactly sure how you get away from that without taking away from the discussion but, certainly where possible, discretion is advised.
Certainly those who have a paid subscription to iHub would appear to have a more vested interest in the quality of the dialogue and those that don't can come here and post crap similar to what shows up on YMB......YMB, of course is a whole other ballgame - not a discussion board for sure and more like a "cesspool" as someone called it awhile back. My 2 cents......
-Chuck
Dude - take a pill or something.....
But I also think that as a result of this process with its increased scrutiny and exposure, people will look at CCME as a more solid investment than before - maybe that gets us to a "reasonable" valuation and pps more quickly that previously anticipated. First things first - we need Deloitte's John Hancock on the 10K.
I believe they play whatever cards they have left in an effort to drive the price lower prior to 10K release. If they are unable to drive it low enough for their short positions to be profitable, they cover and go long (some may do this anyway) to pick up additional profit.
I also believe that as a result of these attacks, more significant DD has been done by many parties resulting in a much better understanding of CCME's business, management, revenue streams, profitability, etc. so that many now realize what a great long term investment we have here. Talk about thoroughly vetting a potential investment....ironically, this would likely not have happened without the hit pieces. IMO.......
-Chuck
Adam - who do you believe "he" is? Thanks.....Chuck
TC - please explain. Is it because AL never committed a crime? Was not convicted of a crime? Was convicted but it was not a felony in nature? Another possibility I may have left out? Thanks..........
-Chuck
DL - post of the day, thanks!
Ummmm.....I think he means because the next 2 days are Saturday and Sunday?
Tiesto - obviously your priorities are straight; I hope your dad's health improves and you are able to spend some quality time with your family. I enjoy your posts so I hope to see you back here soon. Take care and best of luck!
-Chuck
Burp - since the chat room is now open, is it likely that people will go there rather than post on the Board? I, for one, do not have the ability to listen in and monitor the chat discussions due to the fact that I work in a small office in an open setting. As a result, it is much easier to monitor and contribute to the Boards. Thoughts? Anyone else have similar issues? Thanks.....
-Chuck
Sure I got mine for $5.95 back in January 2010 LOL
Exactly - frankly, why isn't someone like Bernie Madoff considered for the death penalty when you consider how many individuals, families, foundations, etc. that he destroyed with his pre-meditated actions? How many people considered/committed suicide as a result?
I know it's a controversial subject and I'm not putting this out there to generate a debate on capital punishment, but, jeez, someone needs to step up and apply an appropriate punishment for these white collar criminals who destroy people's lives!
ROTFGMAO... (G="guffawing")
Haha - I'm with you......
I don't think you'll get much debate here as (speaking for myself) you seem to be WAY overreaching. For management to be so "delusional" as you say to think that they could get away with the massive fraud you are postulating and, as a result of these delusions, agree to the put provision makes little if any sense to me. To perpetrate a fraud of that scale, too many involved and interested parties would have to be either complicit, incompetent or asleep at the switch.......
LOL.....gotta be tough to wipe down all those screens now!!
Joe/CCME - forgot to mention: nice call on the latest short interest!
Joe - I understand, thanks for the respect and no apology necessary for voicing your views. Maybe, as Fernando seems to suggest, those that have strong feelings about sending info to the SEC can do so individually and those that would rather not don't have to. Thye Board exercise them becomes providing this info to the company and have them act as they see fit....either way, thanks to you, we now have an SEC contact who is willing to pay attention. Thank you for that!
-Chuck
First, I don't think you had any right to promise your SEC contact anything that would come out of the Board as a "collective" response and I don't understand what it has to do with the integrity of the Board at this point, other than you probably feel that you have put yourself in an awkward position with your contact.
Seems pretty simple to me - tell your SEC guy that the Board felt that it was prudent to run any SEC correspondence through the company. If the company decides to pass the information along, then your guy will get it. I would be surprised if he didn't think that was a reasonable approach.....
The point is that if the shares available to short dries up just prior to a hit piece coming out, then maybe there is one on the way since the demand (and subsequent cost) to borrow shares appears to be on another upswing - at Fidelity anyway.
There are obviously a lot of people out there that think this thing is going lower from here at least in the short term - so, new short positions may be opened and/or there likely remains a concerted effort to drop the pps further to allow covering of existing short positions prior to the 10K release.
-Chuck
Gunnar - well since I don't believe I've ever seen a "smokeless fire", I would have to agree with your closing statement.
On the other hand, what's happening with CCME is we have lots of smoke created by the ethically challenged bozos at these two research firms (and their poorly informed, lemming "associates"). Those of us who have been here a while know there is no fire, while those who haven't assume there is and will continue to look until they've lost all their money by staying short.
Hmmmm....maybe we have a situation that disproves the axiom that "where there's smoke, there's fire"! Just sayin'.....
-Chuck
I can't locate the post but someone said earlier either here or on the CGS board that shares available for borrow seem to dry up just before a hit piece shows up.
I think this theory is very plausible and more than coincidence - based on that, maybe another one is coming shortly as I got yet another call from Fidelity this morning looking for my shares (all 58K of them) - interest rate to me is 19%, up from 14% late last week........
-Chuck
Same question here - I went to check it out and the page is gone....no blog, no comments, etc.
I'm hoping the lead shorts will already have jobs - making license plates in the "Big House"........
Rato/Board Mod - put me down as vote #3. Thank you!
I agree - cast another vote in the "Rato Write-In Campaign"!!
Just keep in mind that the 2010 10K will obviously cover calendar/fiscal 2010 - it will not include any activity for 2011. Similar to the Q3 2010 CC where Jacky mentioned that no shares were bought back in Q3 even though the call was held in mid November, so who even knows at this point whether any buyback activity took place in Q4 2010. If it did, that will be reflected in the 2010 10K, not this year's activity...although someone could surely ask in the next CC whether or not the company has bought back shares since Jan. 1, 2011. Would be interesting to hear Jacky's response.
It will also show up on the balance sheet in the 2010 10K backed with a clean opinion by Deloitte (just like 2009) which will be out in a few weeks. But I thought you said you were out so...why do you care?
Bye bye.......
Absolutely - I checked it out briefly to see what Fergie was wearing and then went to the Weather Channel...
An additional benefit of the "double audit" is that one independent audit firm can corroborate the findngs of the other at trial eliminating any contention that "Deloitte was in on the fraud"....assuming the findings of both firms are admissable as evidence?
This guy states that a likely outcome is that CCME gets delisted and is forced to restate financials?? Pretty big leap when he has very few facts in his article....sounds a lot like Herb Greenberg if you ask me LOL