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I think wachovia is the next victim in the govt. jp morgan love fest.
No more trading today.. pinkies on monday. my opinion. plus I just went thru this with ssbx.pk
Yes an empty worthless shell with 1.5 billion shares and 350,000,000 shares short. You do the math.
So the government is very happy and satisfied that they can rape shareholders in a company like this but when it comes to protecting shareholders and investors interests.??? The government(both parties) have once again failed.
No pretty much all of them from both parties are looking out for number one. They get elected and go into office with some money but each and everyone of them seem to become multimillionaires. HMMM.. how is that possible in every case???
I guess I should have listened to my inner being and just gone to cash....oh well live and learn.
My best guess is the old stick head in sand and say everything is fine over and over..... only to look up in time to get hit by a freight train.
I predict bloody friday coming up...ITS NOT THE 13TH IS IT???? What a financial joke this country has become and all the suits are like deer in the headlights.
My opinion is Once this hits 10 cents or so they will shut down the trading for the day and Monday it will be on the pinks. Another government rape for jp morgan. Slimy crooked govt.
Hope its not just another hand a company over to the govts. favorite bank......
With the kind of so called leadership in this country (democrat and republican) who needs short sellers.... this market could free fall tomorrow. Hold on for a wild ride.
This article tells a different story
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQfEyT0PDLAU&refer=home
The only problem with all these new rules is they FAILED to enforce the rules they already have.Did anyone ever get punished under the old rules??
More WM speculation this time from overseas
http://www.dailymail.co.uk/money/article-1056491/JPMorgan-Chase-new-bid-US-building-society-Washington-Mutual.html
More WM speculation this time from overseas
http://www.dailymail.co.uk/money/article-1056491/JPMorgan-Chase-new-bid-US-building-society-Washington-Mutual.html
Unfortunately this is somewhat normal in the pinks---ts. Belle you are a beautiful woman with a personality to match it. I noticed in your profile that your Grandmother passed on. Sorry to hear it.. I could only hope to live to 96. Hopefully they were mostly productive years. Regards...
Someone swooped up some shares after hours.
Silver State Bancorp
Pre-Market Charts | After Hours Charts Aug. 19, 2008 Market Close: $ 0.571
After Hours Trade Reporting
After Hours
Last: $ .58 After Hours
High: $ .58
After Hours
Volume: 17,736 After Hours
Low: $ .58
After Hours
Time (ET) After Hours
Price After Hours
Share Volume
16:04 $ .58 4,985
16:04 $ .58 2,751
16:02 $ .58 5,000
16:02 $ .58 5,000
1
Sorry I guess the good news is that s&p has removed negative rating from MBIA AND ABK. Thats just my amateur understanding.
You might want to leave the ABK chart up... after hours news has it trading fast and furious at over $5 .. I predict a gap up.
I think you must be on the wrong board because this one is going up based on real potential.
MGI almost at 2 I wasn't even expecting this. Hope it sticks.
MGI I got in at $1.20 so far so good... my personal opinion is their is a lot of upside potential.
AP
MoneyGram expands deal with Canada Post
Friday August 8, 10:35 am ET
MoneyGram inks deal with Canadian postal service to triple number of outlets in Canada
MINNEAPOLIS (AP) -- MoneyGram International Inc. on Friday said it struck a deal with the Canadian postal service to expand the company's money transfer service to 2,000 additional locations.
Canada Post, a MoneyGram agent since 2002, currently offers the service in 1,000 locations. The multiyear pact calls for that number to triple by the end of 2009.
Terms of the deal were not disclosed.
Separately, MoneyGram late Thursday reported a second-quarter loss, reversing a year-ago profit, as soured investments weighed on results. But revenue from its money transfer business posted strong gains, and the stock rose 17 cents, or 12 percent, to $1.57 in morning trading.
MGI I guess the news was considered good up 32 cents and still moving. Thank goodness.. my financial stocks are getting slaughtered.
Don't know if any here are in MGI but the numbers appear to be going a whole lot better for them.
MoneyGram International Announces Second Quarter 2008 Results
Money Transfer Revenue Grows 23 Percent
MINNEAPOLIS--(BUSINESS WIRE)--Aug. 7, 2008--MoneyGram International, Inc. (NYSE:MGI), today announced preliminary second quarter 2008 financial results. The second quarter 2008 financial results are preliminary as the Company is finalizing the market valuation of embedded derivatives within the Series B Preferred Stock agreements. For further information, see the "Preliminary Second Quarter 2008 Results" section of this press release. Following are significant items affecting operating results during the second quarter of 2008:
-- Fee and other revenue increased 21 percent to $281.9 million
in the second quarter of 2008 from $232.5 million in the
second quarter of 2007, driven by continued growth in money
transfer transaction (including bill payment) volume.
-- Global Funds Transfer segment fee and other revenue grew 22
percent in the second quarter of 2008, driven by 23 percent
growth in money transfer transaction revenue and 19 percent
growth in money transfer transaction (including bill payment)
volume.
-- We recorded $30.3 million of net securities losses including
market-to-market losses in auction rate securities and
other-than-temporary impairments on other asset-backed
securities. The recapitalization on March 25, 2008, included
funds to cover these losses.
-- Investment commissions expense reflects a gain of $29.3
million from increases in the fair value of swaps. All swaps
were terminated in the second quarter.
-- EBITDA (earnings before interest, taxes, depreciation and
amortization, and amortization of agent signing bonuses) and
Adjusted EBITDA (EBITDA adjusted for net securities losses,
swap termination, and severance costs) were $39.5 million and
$58.2 million in the second quarter of 2008 compared to $68.8
million and $69.2 million in the second quarter of 2007.
-- Interest expense increased to $24.0 million in the second
quarter of 2008 from $2.0 million in 2007 due to higher
outstanding debt as a result of the recapitalization completed
in March 2008, partially offset by a $4.2 million gain from
increases in the fair value of swaps.
-- Expenses include $17.7 million of executive severance and
related costs.
-- Net loss of $16.0 million as a result of the aforementioned
items.
Anthony Ryan, executive vice president and chief operating officer said, "I want to thank our employees for their efforts and contributions during the second quarter as we continued to execute our purpose; to help people and businesses by providing affordable, reliable, and convenient payment services. We were able to complete another strong quarter in the money transfer business complemented by exceptional growth in our agent network further demonstrating the global growth opportunity ahead of us."
Mr. Ryan continued, "While we reported a net loss, we measure our financial performance based on certain cash flow metrics, including EBITDA, which was very strong in the second quarter despite the decrease in investment revenue as a result of our newly adopted investment policy and the repositioning of the investment portfolio. Our strong cash flow will support capital spending to rapidly grow our agent network and to invest in the infrastructure to support our 2008 growth plans."
Segment Highlights
MoneyGram operates in two reportable business segments, Global Funds Transfer and Payment Systems.
Global Funds Transfer
Bank of america loves ABK from mffais.com 2008-08-01 Veritable L P Ambac Finl Group Inc (ABK) ABK None Sold All -10,127 -100.00 %
2008-08-01 Profund Advisors Llc Ambac Finl Group Inc (ABK) ABK None Sold All -14,179 -100.00 %
2008-08-01 Principal Financial Group ... Ambac Finl Group Inc (ABK) ABK None Sold All -179,567 -100.00 %
2008-08-01 Irish Life Investment Man ... Ambac Finl Group Inc (ABK) ABK None Sold All -35,771 -100.00 %
2008-08-01 Claymore Advisors Llc Ambac Finl Group Inc (ABK) ABK None Sold All -6,263 -100.00 %
2008-08-01 Value Fund Ambac Finl Group Inc (ABK) ABK None Sold All -74,000 -100.00 %
2008-08-01 Riversource Fundamental V ... Ambac Finl Group Inc (ABK) ABK None Sold All -85,540 -100.00 %
2008-08-01 Dimensional Fund Advisors ... Ambac Finl Group Inc (ABK) ABK 8,700 Sold Some -42,050 -82.85 %
2008-08-01 Hunter Associates Inc Ambac Finl Group Inc (ABK) ABK 13,450 No Change 13,450 0 %
2008-08-01 Proshare Advisors Llc Ambac Finl Group Inc (ABK) ABK 216,894 Added More 116,328 115.67 %
2008-08-01 Bank Of America Corp Ambac Finl Group Inc (ABK) ABK 25,558,577 Added More 18,390,100 256.54 %
2008-08-01 Conning Asset Management Co Ambac Finl Group Inc (ABK) ABK 18,903 Added More 2,540 15.52 %
2008-08-01 Growth Fund Ambac Finl Group Inc (ABK) ABK 2,480 New Holding 2,480 100.00 %
2008-08-01 Cornerstone Strategy Fund Ambac Finl Group Inc (ABK) ABK 5,500 No Compare - - %
2008-08-01 Income Stock Fund Ambac Finl Group Inc (ABK) ABK 72,700 No Compare -
SSBX earnings brutal as expected
HENDERSON, Nev.--(BUSINESS WIRE)--Silver State Bancorp (NASDAQ: SSBX - News) today reported a net loss for the quarter ended June 30, 2008 of $62.7 million, or ($4.15) per diluted share, compared with net income of $6.2 million, or $0.44 per diluted share, reported for the second quarter of 2007.
ADVERTISEMENT
The loss for the quarter is the direct result of a $58.6 million provision to the Company’s loan loss reserve, an impairment charge of $18.8 million representing a full write-down of the Company’s goodwill asset, and the establishment of a valuation allowance of $7.1 million to the Company’s net deferred tax assets.
Michael J. Threet, Chief Operating Officer and Chief Financial Officer, said, “Our second quarter and six month results are due to the severe economic downturn in our nation, in our region and in the real estate values in the markets we serve.
“There is no question that these are unprecedented times for our nation, our region and our company. The economic downturn is the most severe downturn ever manifest in our largest market, Nevada, and has had a severe impact on the banking industry as a whole, as reflected in the results of operations that so many other financial institutions are posting. Despite these difficult economic times, our capital position remains adequate to support our balance sheet, our allowance for loan losses is adequate to protect against probable losses in our loan portfolio and we enhanced our liquidity position to support our customers’ needs.
Not sure how the stock will react but the earnings report was brutal as expected.
HENDERSON, Nev.--(BUSINESS WIRE)--Silver State Bancorp (NASDAQ: SSBX - News) today reported a net loss for the quarter ended June 30, 2008 of $62.7 million, or ($4.15) per diluted share, compared with net income of $6.2 million, or $0.44 per diluted share, reported for the second quarter of 2007.
ADVERTISEMENT
The loss for the quarter is the direct result of a $58.6 million provision to the Company’s loan loss reserve, an impairment charge of $18.8 million representing a full write-down of the Company’s goodwill asset, and the establishment of a valuation allowance of $7.1 million to the Company’s net deferred tax assets.
Michael J. Threet, Chief Operating Officer and Chief Financial Officer, said, “Our second quarter and six month results are due to the severe economic downturn in our nation, in our region and in the real estate values in the markets we serve.
“There is no question that these are unprecedented times for our nation, our region and our company. The economic downturn is the most severe downturn ever manifest in our largest market, Nevada, and has had a severe impact on the banking industry as a whole, as reflected in the results of operations that so many other financial institutions are posting. Despite these difficult economic times, our capital position remains adequate to support our balance sheet, our allowance for loan losses is adequate to protect against probable losses in our loan portfolio and we enhanced our liquidity position to support our customers’ needs.
REV
Revlon 2nd-quarter profit tops expectations
Revlon, which is controlled by financier Ron Perelman and markets such products as Almay cosmetics, posted profit of $19.9 million, or 4 cents per share, compared with a loss of $11.3 million, or 2 cents per share, a year ago. Profit in the most recent quarter included a gain of $4.9 million on the sale of a facility in Mexico.
Analysts polled by Thomson Financial expected a penny per share profit.
Sales rose 8 percent to $376.4 million from $349.2 million. Excluding effects of the...
I bought in this morning. This stock at this point is scary good
If you are confused about what you are invested in then you need to go to http://www.zeonglobalenergy.com/Investor+Relations and read their press releases. Realize that their business plan is not going to happen in 3 or 4 months. This is not your typical pinksheet company that has 5 billion shares and is diluting daily as it goes up from .0007 to.0008 and then down to .0003 in the matter of an hour.If you don't have the patience to stick with it then this is not the stock for you.
Also However they were able to acquire i think it was 100,000,000 dollars of financing thru http://www.walkercommercialfunding.com and i highly doubt they would not have enough cash to post their filings. The company also has an investing representation company.If you can't get an answer from this person you may be able to google some of these companies or names to find more info. FOR FURTHER INFORMATION, please contact:
Brass Bulls, Corp.
Investor Relations
Matthew Lovito
866-342-2700
As far as my understanding this is a pinksheet company and like any pinksheet company the only reason to become a fully filing company would be to move up to the otc.
Press Release 11/06/2007 Source: BlueStar Health, Inc.
BLUESTAR HEALTH INITIATES PROCESS FOR BULLETIN BOARD RE-LISTING
November 6, 2007
Houston, TX -BlueStar Health, Inc., (OTCPK: BLSH - News) announced today that the Company has initiated the process necessary for re-listing on the OTC Bulletin Board. The Company is currently up-to-date in all of its regulatory filings, and as such, meets all of the requirements set out by the Securities and Exchange Commission (SEC) and the National Association of Securities Dealers (NASD) for re-listing.
The process, which takes between 30 and 90 days from initiation, calls for the NASD to review the information package submitted by a sponsoring NASD member firm and address additional requests that may arise from the review. Once approved, listing is immediate.
BlueStar Chief Executive, Richard Greenwood, commented, "We have worked diligently with the Company's legal counsel, Auditors and sponsoring Broker Dealer to put the BlueStar in a position to re-list on the Bulletin Board. We believe this is a very important step and will make it a priority to ensure the desired outcome in a timely manner." He continued, "The re-listing will also provide the Company with higher quality access to growth capital, both debt and equity-based, than we can expect as a company listed on the OTC pink sheets. This is important of course in the context of our LONG-TERM PLAN to maximize share values."
It would be nice if we could find a real street address for these acquisitions instead of just proximity. But i believe this company is at least trying to head in the right direction.
This company HAS a plan and SO FAR they seem to be following through on it and the pps will follow.
It would take very little interest for this stock to fly.*
It's a rollercoaster wheeeeeeeeee...*
It looks like there is some buying interest today.*