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Yup. Four month wait.
LOL, nah it's all fun. Hey, looking for UL to die. Take a peek and let me know.
I've been camping in the AEMI mod spot for 4 months...lol. Oh man.
Once the filings hit (assuming they fail), yes. Should be like LEH but saner.
If that diamond locks in, it's going to be a sweet tank. It'll be like dropping Rosie down a well...
American Realty Investors, Inc. Reports Second Quarter 2011 Results
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American Realty (NYSE:ARL)
Intraday Stock Chart
Today : Tuesday 16 August 2011
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American Realty Investors, Inc. (NYSE:ARL), a Dallas-based real estate investment company, today reported results of operations for the second quarter ended June 30, 2011. ARL announced today that the Company reported, for the three months ended June 30, 2011, net income applicable to common shares of $13.8 million or $1.20 per share, as compared to a net loss applicable to common shares of ($14.4) million or ($1.25) per share for the same period ended 2010.
Rental and other property revenues were $37.5 million for the three months ended June 30, 2011. This represents an increase of $1.0 million, as compared to the prior period revenues of $36.5 million. This change, by segment, is an increase in the commercial portfolio of $0.6 million, an increase in the apartment portfolio of $0.7 million, offset by a decrease in the hotel portfolio of $0.3 million. Our apartment portfolio has continued to thrive with the addition of several newly developed properties and continuous improvements within our existing portfolio, which has led to the rental growth in the second quarter. The commercial portfolio received a lease buyout fee in the second quarter of 2011, which led to the increase in comparison to the prior year. The hotel portfolio has suffered from the current state of the economy, resulting in higher vacancy for the hotel rooms and lower room rates.
Property operating expenses were $21.2 million for the three months ended June 30, 2011. This represents a decrease of $2.1 million, as compared to the prior period operating expenses of $23.3 million. This change, by segment, is a decrease in our commercial properties of $0.6 million, a decrease in our apartment portfolio of $0.6 million, and a decrease in our in our land and other segments of $0.9 million. Property management, in both the residential and commercial portfolios, has been diligent in reducing overall costs and unnecessary repair and maintenance expenses without compromising the quality of services provided. We have reduced the number of land development projects that are in progress, thereby reducing expenses from the year prior.
General and administrative expenses were $4.1 million for the three months ended June 30, 2011. This represents an increase of $1.4 million, as compared to the prior period general and administrative expenses of $2.7 million. This change is primarily due to an increase in legal expense accruals. The Company accrues a liability each month to reserve for legal fees unbilled or potential litigation expenses.
Mortgage and loan interest expense was $17.7 million for the three months ended June 30, 2011. This represents a decrease of $2.6 million, as compared to the prior period interest expense of $20.3 million. This change, by segment, is a decrease in our commercial properties of $1.1 million, a decrease in our apartment portfolio of $0.3 million, and a decrease in our land portfolio of $0.9 million and a decrease in our other portfolio of $0.3 million. The decrease in the apartment portfolio is primarily due to loans refinanced in 2010 at a lower interest rate, offset by the addition of several newly developed residential properties. Several land parcels were sold during the past year and satisfied their debt obligations, thereby reducing the interest expense.
Gain on land sales was $14.0 million for the three months ended June 30, 2011. This represents an increase of $18.1 million as compared to the prior period loss of $4.1 million. In the current period, we sold 1,067 acres of land in 19 separate transactions for an aggregate sales price of $60.4 million and recorded a gain of $14.0 million. In the prior period, we sold 23.56 acres of land in two transactions for an aggregate sales price of $17.6 million and recorded a loss $4.1 million.
Included in discontinued operations are a total of five and 20 income-producing properties as of 2011 and 2010, respectively. Properties sold in 2011 have been reclassified to discontinued operations for the current and prior reporting periods. The sale of these properties resulted in a gain on the sale of real estate from discontinued operations of $7.7 million and $5.7 million as of 2011 and 2010, respectively.
About American Realty Investors, Inc.
American Realty Investors, Inc., a Dallas-based real estate investment company, holds a diverse portfolio of equity real estate located across the U.S., including office buildings, apartments, hotels, shopping centers and developed and undeveloped land. The Company invests in real estate through direct equity ownership and partnerships nationwide. For more information, visit the Company’s website at www.amrealtytrust.com.
BAC - more asset unloading as to avoid Ch 11 -- let them figure out what they are doing BEFORE you do anything. They are in much deeper doo-doo then most realize. They are trying to unload real-estate and bad debt during a lull in both markets. BAC's sheets are about to get *MUCH* smaller and unimpressive before another major write-down.
ZMGD -- coming to life out of the blue. Looks like good hot and heavy paid postings from bashers and pumpers. Could be some fun if you bring a bat. VNDM is the pusher, so there's some sort of financing or oddities happening.
I've been modding it for awhile...lol. It was just me talking to the wall for awhile - drop on in. It's boring as hell over there.
China Valves Technology's Subsidiary Receives an Award for Top 10 Technological Innovative Enterprise in Henan Province
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China Valves Technology, Inc. (MM) (NASDAQ:CVVT)
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Today : Tuesday 16 August 2011
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China Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that Zhengzhou City ZD Valve Co, Ltd. ("ZD Valve"), one of the Company's subsidiaries, received an award for Top 10 Technological Innovative Enterprise in Henan Province from the Association of Technological Innovation of Henan Province, the Academy of Sciences of Henan Province and the Academy of Agricultural Sciences of Henan Province.
"We are pleased to receive this award from the provincial government, which reflected our contribution to Henan Province as a leading innovative enterprise," said Mr. Jianbao Wang, Chief Executive Officer of China Valves. "Through a passionate commitment to excellence and a disciplined management process, we will create our own sustained competitive advantage in the current dynamic market."
I have to read up... and get a clone to help.
LOL true.
Farmers & Merchants Bank of Long Beach Declares Third-Quarter Dividend of $21 Per Share
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Farmers & Merch Bk (OTCBB:FMBL)
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Today : Tuesday 16 August 2011
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Farmers & Merchants Bank of Long Beach (OTCBB:FMBL) today announced that its board of directors has declared a regular quarterly cash dividend of $21 per share on the Bank’s common stock. The dividend is payable on September 30, 2011 to shareholders of record as of September 15, 2011.
Farmers & Merchants Bank of Long Beach Declares Third-Quarter Dividend of $21 Per Share
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Farmers & Merch Bk (OTCBB:FMBL)
Intraday Stock Chart
Today : Tuesday 16 August 2011
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Farmers & Merchants Bank of Long Beach (OTCBB:FMBL) today announced that its board of directors has declared a regular quarterly cash dividend of $21 per share on the Bank’s common stock. The dividend is payable on September 30, 2011 to shareholders of record as of September 15, 2011.
OK I am game.
[LINK BACK] Baidu Cut To Buy From Strong Buy By S&P Equity Research >BIDU
Last Update: 8/16/2011 9:19:06 AM
(END) Dow Jones Newswires
August 16, 2011 09:19 ET (13:19 GMT)
Market... seems... sane.
Nice post. Thanks!
ETFs are back to being boring traders :(
*cries*
I need to read it -- the PDF is online.
Wow, nice bounce.
That's how to bounce... Yikes.
News out or... Etrade is doing something odd. Not sure.
Numbers are out.
Well, that's the way to pay off a truck... can't beat that.
Wow, so little info on this...
http://www.investmentnews.com/article/20081214/CHART/812119919
News would be nice...
KT -exit. Pattern complete.
Umm, ok. We have chatter and that's great. But if there's stuff for the iBOX, PLEASE condense it and send it to me.
Fitch Tells S&P to S*ck It
MARKETWATCH.COM
Fitch reaffirms 'AAA' rating on US
BOSTON (MarketWatch) -- Fitch Ratings has reaffirmed its coveted 'AAA' rating on
the US, with a long-term outlook of stable.
Time to go pass out in the stairwell. Tell Shank the bottles are in the bottom drawer of my desk.
BIDU is signalling cover. I am not going to challenge it.
AEMI, done :)
I wish I could do this more often.
AEMI - Just so you can't say, "You didn't say!"
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14660&srchyr=2011&SearchStr=AEMI
AEMI +123%
Let the hits keep on coming.
Looks like we blew the 10% target out of the water this MONTH.