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Chimera Investment Corporation Message Board

  • eric_landstrom eric_landstrom Jan 7, 2013 11:54 PM Flag

    January 15th deadline

    Never in my two decades of trading and investing have I witnessed an accounting SNAFU like this one. For shareholders (yes I'm long), the angst has only been extended by the tight lips of the Company. At any-rate, we were informed by Chimera back in September that the Company had filed a four month extension to delisting. That extension expires on January 15th. Meghan Foley summarizes, writing:

    "During September, Chimera advised its investors that it had received a 'four-month extension for continued listing and trading of the Company’s stock on the New York Stock Exchange.' The mortgage real estate investment trust presently has until January 15th to file its 2011 annual report with the Securities and Exchange Commission. However, should it miss that deadline, a related filing says that the NYSE will move forward with the initiation of suspension and delisting procedures."

    My take away is that:

    1) We should expect some news out of tight-lipped Chimera's management very soon. We'd like it if they were downright chatty since we have so very much to get caught up on.

    2) Hopefully, the news will not sound like an accountant dribbling on and on as to why they don't have their junk together.

    3) Hopefully the news will include a 2011 filing. If it doesn't include a 2011 filing, we can expect delisting proceedings to begin, our stock to devalue 2/3rds overnight and we can expect to participate in a class action lawsuit—which will stink because class action suits never amount to much in relation to shareholder benefits but our attorneys should all do well.

    4) Hopefully this news will also provide a time table as to how and when Chimera will go back to a regular earnings schedule and begin acting like an adult-run company.

    Sentiment: Hold

13.34-0.01(-0.07%)Oct 2 4:06 PMEDT