Seems strange to see all these directors buying shares.
Oh well, probably not related to what's on my mind right now.
I had a Professor in law school at the University of South Carolina named John Freeman. Understand he was advising Elliot Spitzer a while back.
Anybody got a clue about why all these folks are buying shares. You can't help but wonder what's up?
Does it matter? They know something U don't for sure. I bought on that one thing alone. Not to mention how the company is leaner than ever and coming off a strong QT.
Buying now is at the bottom, what do you have to loose?
20's are coming up.
Its just money.
Another insider purchase reported today for about 200,000 more shares by Barrigton. The compnay told the world why they are buying. Read the news releases. I owned a chunk in PBY Bonds and sold them to buy the stock. They are in the process of selling real estate on their books for $150 to $300 million MORE than it is booked as an asset. This is also a capital gain at about 15% tax only. This is not the entire story. They are getting MORE than $150-300 million in cash. That is ONLY the amount over book. These guys are fixing to have $500 million +++ to play with. If they retire ALL debt which is about $400 million+ that alone would save them over $30 million in interest payments which alone would increase earnings 60 cents+ a share forever more. The only reason stock is probably a buying opportunity is because a suspect Pirate Capital may be selling shares to raise cash to pay redemptions in the future. Don't miss this one..... DaninFW
For further clarification. I just reviewed the Ford Equity Report that came out 9-21-07. They are planning to raise $900 million to One Billion $$$ to pay down debt and for the new CEO to reinvest to grow the business. You can do the math on 54 million shares outstanding but that's about $18 a share in cash......and the stock sells for $14+. Any rocket scientists out there except directors? BTW, it's not insider trading. They have told the world in press releases, SEC filings and on the conference call. The window will close on insider buying/selling when they know something they haven't reported that could have a material effect on the stock price, i.e., they know what sales are for the current quarter which hasn't been released yet. It appears they have almost a month give or take to buy. You should too IMVHO. I'm buying more tomorrow if the price is still stable. DaninFW
Of course there is something up. All I wonder is when is IT going to happen, with whom and by whom. There seems to be an emphasis on the "property" The directors are no dopes, as they were before.