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The St. Joe Company Message Board

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  • buckeyebeachbum buckeyebeachbum Apr 6, 2005 7:48 PM Flag

    management taking lions share!


    I'm glad to see you decided against pursuing a career in dentistry. From the looks of your recent baseball post, you would probably enjoy performing root canals without a local anesthetic. You know there are at least 2 Clevelanders (Ludecriss and I) that read your posts, yet you still have made reference to the '54 World Series (the Indians won 111 regular season games & finally slipped past the Yankees to take the American League pennant only to lose to the Giants) and the Marlins...the 1997 "rent a team" Marlins club that beat the Featherheads in seven.

    As for some of the recent discussions on this board, I remain in agreement with you. I think the EPS will come with time (remember, JOE has a lot of cash), management brings a lot to the table (design, publicity, political clout & know-how, vision, rapport with Wall Street & institutional investors, etc). JOE is moving methodically. Sure, the EPS isn't there right now but it doesn't have to you have repeatedly pointed out, the price per share has progressed very favorably.

    As for the planning and the vision, I have never heard anyone criticize what JOE has done. There properties are well built, as friendly to the environment you are going to get with any developer. attractive and desrireable. Additionally, I haven't seen even their staunchest critics write negatively about JOE's efforts to relocate highways or airports. In short, THESE GUYS KNOW WHAT THEY ARE DOING!!

    I have no doubt that we are only seeing the tip of the iceberg here. Here in the midwest, we have an expression, "the cream rises to the top". Not only is JOE's management team the cream of the crop, their developments are the cream of the crop. JOE is building in "added value" to their already envious land position. JOE is doing it right and as prospective baby boomers continue to recognize this, they will pay a handsome premium to buy JOE lots, stay in JOE resorts, etc. The JOE name alone will continue to hold a great deal of goodwill with boomers. Their plan is working and the market bears out its confidence in their plan...seriously, i'm not a chart/trend investor but take a look at the charts for this stock and then tell me the market does view JOE as a winner.

    From there, it is just a matter of finding the RIGHT places to invest the proceeds. Again, I am confident in JOE's management team to find the best uses of their funds in this regard too.

    Have patience with this management will all come together in the next few years and in the meantime sit back and watch your position appreciate. I think you will find it as enjoyable as an early spring sunset over the gulf.

    Lastly, might understand southern but i'm glad to see they haven't made you a Braves fan yet! Take care and be certain to add Otto Graham (10 championship games and 7 championship titles in 10 yrs, is there a better way to measure a QB?) and Jim Brown (no supporting arguments needed) to your sports discussions.

16.13-0.05(-0.31%)2:24 PMEDT