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Chiquita Brands International Inc. Message Board

  • LeonMusa LeonMusa Nov 12, 1999 5:00 AM Flag

    I hope

    CQB takes over my green ideas and loads enough
    munition to fight against the oligopoly of the
    I invite you to the 'Eurep' meeting in Paris, next
    week, where GAP rules will be presented. There we can
    discuss if retailers are willing to pay bananas at
    sustainable prices.
    Contracts for next year are now

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    • According to an anual report the PrA is
      convertable through Feb 2001 into 2.6316 shares of common
      provided the common exceeds $24.70 per share.

      thereafter into a number of shares of capital stock (not
      exceeding 10 shares) having a total market value of

      The PrB shares also contain a similar phrase about
      continuing to be convertable.


    • It's all very depressing. No, there's not enough
      business for everyone. There is a world glut in bananas
      and, though Dole and Chiquita have their irons in
      other fires as well, it weighs heavily on their bottom
      line. The best thing you can do for the cause is write
      your Congressman to support countertariffs on European
      goods; short of that, eat more bananas.

    • a proposal which will allow the US companies to
      grow in the EU banana market. At the request of the
      WTO, it asks the Council and the Parliament a mandate
      to negotiate with the primary importers a license
      distribution system and to abolish the specific country
      quotas. This is still in line with what the US and 4
      Latin American countries have asked. Now Ecuador,
      Colombia and Costa Rica will have to show some sence for
      Although there is no need to accept a due date of end
      2005, the proposal merits to be accepted by all parties

    • Good Morning Livinonmargin:

      Please educate
      me on this. When the protective status goes away,
      does that signal the end of the bananna business in
      the Dominican Republic? Aren't there some advantages
      in moving toward a more open not protective trade
      environment? When these barriers come down, won't there be
      enough bananna business for everyone to make a living?


    • Did it ever occur to you people that the Domincan
      Republic's biggest export is bananas and it is one of those
      colonial outposts that is now benefitting from European
      protectionism? I am long CQB but I am just putting away for
      another 20 years. Hopefully by that time this whole
      banana trade war will have been sorted out.

    • Anybody who is actually looking at buying any of
      CQB should seriously look at the preferred before you
      touch the common. While I can't make a persuasive
      argument for CQB, it does appear that at current prices
      the preferred offers the better return, both in the
      potential for capital appreciation and

      Any voting rights that the common carries over the
      preferred is of course, irrelevant.

      • 2 Replies to granputamadre
      • I agree with you about the preferred. I too shook
        the preferred banana tree this week and a few bunches
        fell my way. The return is very attractive and I hope
        the downside is over. Only time will tell. I do a lot
        of preferred investing and I liked the PrA stock
        over the PrB because of the differences in the call

        You mentioned you went with the
        convertible, Why?

        It looks like there was a blow out on
        the PrA and a bottom of 19 is holding so far. If
        interest rates step up next week and the price holds its'
        19 bottom I may shake the tree for a little more.
        With a 14+% cummulative return and a call potential of
        $50 the only thing to fear is the company going bust,
        which I don't think is in the cards.

        The blow
        out in the preferred may have also been a related
        bottom sign for the common. There are a lot technical
        indicators flashing for this company. The only problem is
        they are not specific on the moves being up or

        I like reading what Buck has to say also. His
        comments are pretty good, but his secondary presence as an
        indicator is also something to watch. Keep up the comments


      • I have the preferred, what a great buy, dividend declared. Paying around 16 % and it's convertable.