Ouch! I bought last August at abou 58. It didn't
look too bad until February. Looking at insider trades
( http://biz.yahoo.com/t/s/stc.html ), the insiders
haven't started buying, but they don't seem to have
completed their planned sales either.
I notice in
the proxy statement that the Morrises, Stewart and
Malcom, are not very generous with options. They granted
themselves options worth about $400 K last year, and they
granted to other employees only about that much too.
(about 46,000 shares were granted, out of about 6
million outstanding shares.)
It is true that state governments have general
police power to regulate all aspects of the insurance
industry which operates in their respective state. Their
power is limited in conrolling insurance operations
that effect the health, safety, and welfare of the
public. In the case of title insurance, state regulators
can not step in, because it is beyond thier scope. It
would be akin to the state regulating its instate
insurance companies which provide default insurance
coverage for below investment grade securities.
Most States are a bid rate. Stewart can raise
their rate as long as everone else does. Look back in
the news archievs, Stewart was nailed a few years ago
for meeting with the competiton to set rates.
I have been working in the real estate world for
over 5 years now. I feel as though the internet can
only enhance the title insurance industry and make the
industry more profitable. Title issues will always exist
that requiring both lenders and owners to purchase
Stewart's commitment to
technology, its financial positioning, and its strategic
alliances within the industry will payoff for its investors
in the long term. Don't let the current decline in
stock price dismay you and turn you away from the
stock. The industry as a whole is slowly but surely
increasing its prices. When Stewart increases its price for
insurance the company's price to earings valuations are
sure to make it a big winner.
Come back PUMA's board please!
Where are you
Today is the end of 10/99 and PUMA
closed under $5.00 dollars. Please come back and short
more PUMA b/c this stock will see chapter 11 very
Where are you now sucker rojer?