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What are pxd's claimed grounds for witholding the data anyway?
Doesn't seem like they have any legitimate grounds...
re: Fayez Sarofim
I think he was suggested a few monethes back. Don't know if anyone followed up on it though. You might try ih search feature to backscan posts.
I suspect someone that well off is probably somewhat inaccessable. Although isn't he a unit holder? That might make a difference.
Don't know if there is stipulation that trustee can't also be a unitholder. It wouldn't make much sense since it would be like saying a CEO shouldn't own stock in his company. It would tend to produce a positive vested interest rather than a conflict of interest.
I think JPM could have been more proactive in advertizing for the job to emphasize the up side. For example:
[see JPM sample ad suggestion below] <g>
The trustee position can only be held by a person or entity of high net worth ($100m, something like that) this, as I recall, according to the mosh charter.
This ruled out the vast majority of (otherwise qualified) candidates. Of the few that remained, apparently, nobody wanted the (somewhat thankless at this point) job.
actually, I had bid in for 1000 @ .36
some lucky MM made a cool fiver on that one. <g>
still have 500 left on the order. no additional commission charge if they still manage to fill it so guess will just leave it in.
drat somebody just hit .39
that 500 @ .36 must have been a fluke
-----
oops i spoke too soon (adding this via ih edit)
things seem to have picked up a bit while i was typing before.
least i got my order filled....
now that was weaird. somebody just dropped 200 more @ .35
I still have more left on the order but the went right over me.
maybe it takes time to percolate through the system. let's see if i get those too.
apparently no free shares, er units, to speak of at this level, anyway...
hee hee I just bought them on a partial fill (500) for .36 <g>
Restriction is off mosh on scott now. I just tried an online order and it worked. Let's see if this has any effect on price action...
Oil back on the upswing before weekly data
By Steve Goldstein
Last update: 5:51 a.m. EDT July 9, 2008
LONDON (MarketWatch) -- Oil futures gained ground in electronic trade Wednesday, following the biggest two-day drop in nearly four months. Crude rose $1.69 to $137.73 a barrel following reports that Iran test-fired a new missile, with data on weekly energy inventories due out at 10:30 a.m. Eastern.
http://www.marketwatch.com/News/Story/oil-back-upswing-before-weekly/story.aspx?guid={10E2EA0E-A30D-41E5-981D-842E1A54AF9D}&siteid=msn
This downspike isn't likely to last long. The risk-premium for middle-east oil just notched up after a long quiet spell.
Reserves and high-potential reserves in non-volatile/non-dangerous areas are going to be in increasing demand.
Hurricane season in GOM justs atsrted as well.
could be... could be.
With a regular stock I think usually they just short you whatever shares and in some cases, if they want to squash the pps down aggressively for whatever reasons, they just sluff off concerns figuring thay can satify the locate requirement eventually by finding one of thier buddies with a pile of warrants or convertibles. But with mosh, there are none. and, the float size is fixed - can't be increased...
usually the restriction thing is something else - they won't say exactly, but it could be dwindling pool as well, i guess.
oh great. scott is back to "please contact your local branch for placing an order on this security..."
such a pain to call in. could explain the recent ebb in vol. Probably the other online brokers have the same bs again too...
re: pending motion. ok, I figured, soon. that also explains why i couldn't recall a set dat - there isn't one. Not actually a middle-aged moment after all. thanks <g>
I think what we're seeing here is a bit of a pause in buying momemtum pending the official court decision on not ending the trust. When is that again btw?
Not really any selling either to speak of but mm look to be dropping the b/a a little to try to rekindle some action though most of them probably don't have much of a clue, if any on what is moving this...
re" buying opportunity..."
I think you're right. This reminds me of the down spike near the beginning of the year. I had a hard time resisting selling then too, probably should have bought more, but at least didn't sell so didn't totally screw up. <g>
I would expect a similar short-lived spike down - actually watching intraday, bouncing pretty hard off 1 pound. The fact that psychological threshold is at play intigates that this is mostly a psychological phenomona due to generall market sell offs in europe and us due to finance market concerns. I suspect the going rate of a pound isn't going to persist once some of the financial panic starts to wear off. The market just needs time to get used to new conditions ands probably a few more carry trades need to unwind and so forth.
Actually even if oil drops 10% more we are still way above where we were at the beginning of the year. Actually these dips in oil are minor so far, oil still shows a solid uptrend. Also we are much closer to proving up some reserves than , back then we didn't have BHP JV partner to do heavy lifting.
The fact that oil seeps exist and that a war was fought over this area should indicate the potencial. The story of the giant Mexican Canteral off shore oil field 30 years ago or so basically started with an oil seep. The old mexican field in is decline now but not before billions of barrels were pumped. The fact that most known major oildfields are in decline should also undercore the value of the Falklands potencial.
I realize that I am probably preaching to the choir but sometimes maybe it helps to sing a few lines to ourselves to "keep the faith" <g>
Sooner or later. .34's look to be thinning out as ask size dropped...
Ended up supporting the bid at .33 .. bout as good as I could do today I think. good enough for me. <g>
This is what you call yer basic breakout on volume. Looking good. <g>
dang, jumped right over me. ask at .35
scott won't let me trade otc premarket...
guess will have to play it by ear. glad i already have some. <g>
Can pretty much guarantee will open strong since I will be hitting the ask at the open.
I should be the first one out of the gate since I put my bid in fri. After the open, well, all bets are off...
just trying to do my part <g>
(hmm just noticed ask size dropped from 10,000 to 5,000 premarket... )
It's all there if you read the posts over the last couple days.
Presumably the old data will be replaced by updated findings and better expert testimony by the plaintiffs now that they have the seismic data they sought under new discovery so who cares if that particular point was upheld?
One way of looking at it is that the court was "throwing a bone" to the defense. A rather thin, hollow bone at that. <g>
"little coffee shop that could"
It's my understanding that they gave up on the coffee shops in China idea. Supposedly thay had some special "in" in China. Guees not. I guess that's why I'm so disappointed. I saw that, and probably, like a lot of previous and would-be investors immediately thought of starbucks (apparently, now, former) glory days of seemingly limitless success and expansion.
Another starbucks snippet I just came across I think, in 'The Street' (sorry no link) :
"What to make of the news from Starbucks? The relentless expansion of the Seattle coffee chain was once a potent symbol of American consumer might; an old article from The Onion caught the zeitgeist with a mock headline that read,
“New Starbucks Opens in Rest Room of Existing Starbucks.”
<g>
Seems like hurricanes wouldn't effect coffee crops that much because aren't the plants generally grown up on shady hills e.g. "mountain grown" etc. ? plus, inland, presumably.
I think the biddest risk to coffee crops are certain kinds of worms and bugs. I guess the Ethiopian one could be at risk of drought (or, otherwise governmental instability in some countries).
No, the big risk is management not anticipating and managing various problems properly. In any event unless mgmt suffer pps declines along with investors, they generally have no big reason to care about pps.
That's why the tend to do equity financing a big block to VC firms, hedge funds and the like. They get their money up front.
WHo cares what the pps dows after that. Not considering that maybe they might want to do another equity sale in the future, someday.
The entity that buys the shares, convertables or warrents can the short them to the max and recover most of their capital right away, and still have shares available to cover at some future data, if necesary. Actually once pps in is the basement, they can cover leisurely and hang on to the remaining shares in case the company actually succeeds, which, in most cases they probably never actually considered to be very likely.
I remember reading a pr by a ceo of a pink i was following in tha past, so happy "they had obtained financing". even naively praising the (forget the name - something capital ptrs) the fact that confidence shown in their business, etc. In fact, such money is furnished with the knowledge that they will make out regardless of how the the company does.
OTOH, general market is down - carry trade unwinding, finance outfits trying to raise cash to cover more mort right-downs and bad coomercial paper. Consumer spending/retial down. Lot's of money being sucked out of the stock market. I notice all the coffees are down too.
So, some of this is not GWDC specific. Supposedly they own some beans so that would be something for the asset side of the book value equation. They did say "positive cash flow".
I don't know that mgmt is trying get some for themselves now before a downward spiral that they may perceive, completes. It depends how well they are putting remaining assets to work (or not. Hard to tell with so little info coming out of the company.
"MSJ for JPM was granted in part
what would that imply? I thought it was a go / nogo?
I guess we'll find out soon enough. it just sounded kind of strange, like "motion to adjourn was granted in part..." <g>
maybe it really is the starbucks of china
article: "Starbucks Throws in the Towel"
http://www.taipanpublishinggroup.com/tpg/archives/COD_070208.html
[article text missing chart - use above link to view complete article w/chart]
"Wednesday, July 2, 2008
Starbucks Throws in the Towel
In a sign of the times, the mighty Starbucks is in retreat. The iconic coffee company will be closing 600 U.S. stores and laying off as many as 12,000 employees.
Starbucks is still growing outside the United States. But that growth is badly needed to justify the share price. Even after a drop of 66% from the 2006 highs, SBUX still sports a lofty growth multiple. If you buy shares at the present level, you’ll be paying nearly 27 times earnings for projected revenues over the next year.
So is Starbucks a short if it’s not a clear buy? Probably not. These days it’s more of a morality tale.
Back in 2006, when SBUX hit its all-time highs, the company could do no wrong. The time to go short was when all of Wall Street was cheering.... and when the growth multiple was even more out of whack than it is today.
Justice Litle
Editorial Director, Taipan Publishing Group
...
"
and here i thought the gwdc tout ads were misleading. <g>
Hypothetically, if the trust assets get sold off, what happens to our units?
e.g. do they get replaced by a cash distribution?
Then, what, the prior holding would be the equivealent of a record date in regard to the lawsuit?
Or would they revert to restricted status. I have some "mystery" shares from another company that have been sitting there with all zeroes for some time, might something like that be expected?
The prospect of the above might be giving some would-be investors pause contributing to the low volume/fairly wide spread lately...
I don't really anticipate a sale, I think that it would have been liquidated the last time, if it was going to, so why now? no good reason, but, who knows? Would be good to know what to expect in a what-if scenerio...
I think they were only going to get a 5% cut from the coffee shop anyway. It still sounded good if one imagined a zillion coffee shops.
The remark about not being able to meet demand and buying up all the beans they can is a bit puzzling.
If demand is so good why not raise the price.
Unless... the chinese (coffee shop future starbuck model) people figured out that they could go around and buy their own beans from the various countries too. Unless it is easier/cheaper to just buy the commodity from gwdc. Which could mean that gwdc would need to sell cheap enough so that it wouldn't seem worthwhile for e.g. the chinese customer to try to do an end-run around them as middleman.
postive cash flow sounds good although $1 would technically still be positive cash flow. if their contacts are developed and infrastructure is in place, maybe they can still eak out a decent profit but it appears constrained by the pricing considerations I conjectured about above...
I suppose trying to buy up all the beans is the only desparate defense possible against losing their position in the food chain. The share price is probably getting hammered either directly or indirectly by dilution expectations as they try to raise cash.
Sure seems a far cry from all the glowing tout remarks of a few short months ago. The question is does it all actually amount to a hill of beans? <g>
actually, we're holding up fabulously today compared to overall market.
re:"Those warrants arent excercisable until August 2009..."
Oh, next year august. That's not so bad.
Needed to clean my reading glasses, at first when i skimmed looked like it was this aug. <g>
Still, i imagine people see that 1.20 first which could be producing a temporary mental overhang effect until the news gets better digested...
re:"i would hardly be surprised if prospect does not exercise and sell at $1.20 for only 83%. .."
That might explain the apparent 1.20 ceiling we keep hitting for the time being. Could be a few getting sold? They would be smart to keep some though. In any event there are finite amount of them.
would be nice if some kind of news came out...
well, some of this is simply china stocks being out of favor for some reason. (most china stocks are down. especially the most liquid and profitable in terms of fundamentals.
Looks like Investment /hedge funds have been doing some liquidation. There is likely still a lot of bad commercial paper that needs to be absorbed by the system. Not that they affect pennies directly but when the general market goes down it depresses people's speculative spirits.
Plus, despite it's initially good sounding prospects, the gwdc mgmt/business plan is starting to look aq little dicey - too much captital drain/probablt dilution vs. taking too long to ramp up operations.
Still have some residual shares but it's a case of so low now, not really worthwhile to sell them...
On the plus side, many Chinese seem to be workaholics of sorts and tea just doesn't pack the same wake-up punch as coffee. Plus, as per the tout ads, coffee was purportedly "illegal" in china until recently, so, it takes time for people to adopt new habits.
China is stll something like 8% growth although some of that is now being degraded by inflation finally creeping in a bit.
Funny thing is, often, about the time one gives up on a stock/company as a dud, that's about the time a price spike comes along... we'll have to wait and see if that's the case here i guess...
re:LVII
Why is it that ask size can be 1500, I just watched a ton, well, at least 10k worth of buys go through at the ask, then, the ask size is still 1500?
Other stocks and/or at different times on lvii, (albiet usually on major exchanges), when you ping the ask (like I did last week on dpdw), you can watch the size count down, at least temporarily (depending on new orders coming in) but, I have noticed that with otc's, that isn't always the case.
I remember someone saying that well, what shows is minimum bid size, not necessarily total shares ...
I don't know. Still seems weird. I'm thinking that MM's sell short shares to moderate demand maybe. OTOH, bid will tend to come up eventually with heavy buying but this phenomona makes it hard to tell what we are actually watching on lvii.
I thought it was supposed to show the MM/exchanges order book.
Seems like we're still not seeing everything. sometimes...
re: "... valuation as well. $2.50 announced last October..."
$2.50 X .75 = $1.87 pps (taking 25% off analyst's )
But as I understand it, the revenue is there it just didn't quite make it under the billing wire, will be reflected in the next report, just a timing technicality...
be where? what? i thought I had been reading all the posts but don't seem to know about some kind of event tomorrow. what is it?
btw, the rebuttals to inaccuracies in various recent negative assertions were interesting, so not actually such a waste of time after all...
actually it's (correction)
"Best of Beverages" board.
http://investorshub.advfn.com/boards/board.asp?board_id=12062
fwiw
i dropped the name, er, ticker on ihub's coffee & bev forum i think, yesterday. Maybe some ostensible investors from over there are "helping the cause" a little. It probably wouldn't take too much retail pinging of the ask to tip the trend upward.
There are worse beverage pinks out there, but, admittedly, that's not saying much.
Cafe cash flow should be a given, now if management can just put together a pr to show their path to profit we would be all set...
yeah, i agree. People in the U.S. will lilely be cutting back on spending. The real hope is that the Chinese increasely develop a taste for gourmet coffee. Since their economy, wages and urban populations are expanding and becoming more sophisticated it still seems possible that GWDC could do well since they have their foot in the door early, so to speak.
Initially this seemed like a "slam dunk" (possible donut pun there but it was supposed to be a sports analogy <g>).
It really seemed like it could be the sort of company warren buffet looks for, simple and easy to understand. He also reputely said that he looks for "businesses that can be run by idiots, because they often are". <g>
GWDC including for completeness. "Next starbucks" (of China)
I don't know how best it is, but, pps has never been cheaper. <g>
Thanks for the link.
A mostly fluff PR is better than nothing. I guess they'll get around to updating their website eventually.
Actually, all the coffees are down. And, less so with pinks and otc's but big money actually controls the share price to a large extent and they apparently haven't been too interested in coffee/beverages lately...
Actually, Starbucks took a few years to get going...
OK, nice article. But where is it from?
I checked the company website and the latest update is still from april 16 or so.
Now if we could just get some word on the China cafe...
yeah, i'm kind of thinking that too + psychological support level at 1.00
didn't stop me from getting a few at 1.03 though (just in case) <g>
Is there some reason to expect the pps to _not_ dip a bit as the result of the Flotation Tech acquisition?
It's been my observation that is usually the case for the acquiring company.
Unless this is more of a merger of equals? otoh, they're paying a bit extra for "goodwill" and so forth...
or Are we thinking that the synergy will be pretty much immediately accretive to income?
A Passion Play
With all the talk of legendary T.Boone Pickens maybe riding in on a white horse to save the day, I couldn't help conjuring mental imagery from "Man of La Manche" seeing as Boone just bought 667 windmills from GE.
"UPDATE 2-Pickens' Mesa Power orders GE wind turbines"
http://www.reuters.com/article/marketsNews/idINN1521224020080515?rpc=44
Let's see, the cast: Pickens as Don Q., Dulcinaire would of course be MOSH and PXD would be the brutish lout in the tavern scene strong arming her into a farm-out deal without mutual consent. <g>
Things are looking up.
New all time high.
If you check site news recently an investment house just bought a big chunk of shares, 40% of os or so .
Effective float has been reduced = amplifying upward pressure of future buyers i would think... <g>