Excellent point. Also why I have been saying mgmt
is only interested in lining their own pockets.
Insiders have been selling, repurchase program is a joke,
things slow to happen.
If we are paying these
guys so much money we need results not future
promises. Wall St. sees this lack of action and direction.
Hence the stock price flounders.
The cmopany doesn't want REIT status because the
"Street" doesn't like REITS. But as the saying goes.. "If
it smells like a REIT and walks like a REIT, it's
probably a REIT. JOE management must think we are
What's really obscene is the SG&A. They have 4 V.P.s and
6/ "Presidents" in their Community Development
Give me a break. SG&A for a REIT should
be 10% max.
Your post are so repeatitive w/o adding anything to the discussion. We know you like JOE, we all do. Just give it a rest and maybe just maybe some new posters will feel like they can add something.
Bush will be very helpfull to the real estate
interests in Fl. With JOE being the largest landowner in
Fl. over (owning over 1% of the state)we should see
more rapid development especially in the costal areas
where JOE owns tens of thousands of acres. The improved
political climate in Fl. will shortly begin to be reflected
in the price of JOE stock as the price of the stock
moves toward the mid- thirties.
JOE has recently bought the LARGEST real estate
company in Florida. Do you think they did that so they
can send out the agents to water the plants on the
undeveloped land? They have already begun to build on their
properties. (read the press releases this week) As the land
is developed the price will reflect this. Is wall
street interested? Someone must be the price had a big
runup after these articles appeared.