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The St. Joe Company Message Board

  • florida_crackerjack florida_crackerjack Mar 10, 2005 4:26 PM Flag

    Take a ride

    down Highway 98 if you're in the area. Pretend the developements aren't there. Imagine a better time.............

    Imagine driving down Highway 98 for 5 miles and not seeing another car. Sun coming up from the East and casting a shimmer of intense color on the Gulf of Mexico as you drive. Cities such as Panacea, Lanark Village, Medart, St James, Carrabelle pass in a blur. Stop at the filling station right on the Gulf for a cup of coffee outside of Lanark and you know everyone in the place. Continue on 98 towrds a new day and 90% of the motorists heading south wave to you. This is the Florida that my father and his fathers father were raised in. Hospitable, neighborly, and pristine. This is the Florida that many authors have used as a backdrop for their stories. This is the Florida that Sam Harrison wrote of in his wonderful story, "The Walls of Blue Coquina". For all you folks advocating this ruination of Florida I suggest you read the book and take a trip down Highway 98. It may be close to your last chance to experience the true Florida legacy. It certainly won't be reminisced about for its cluttered beachfronts, outrageous land prices,grotesque homes built by pseudo-wealthy northerners, clogged roads, strip malls, KFCs, and CVS drug stores.

    Isn't it funny that people try to escape to paradise and then attempt to recreate the Hell they left, except this time with a waterfront view?

    WAKE UP!!!!


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    • The day of the imperial CEO, ie. Eisner, Kozlowski, Carly, Greenberg, is finished. Face it - the easy money has been made in this stock.

    • Equity Compensation Plan Information
      Our shareholders have approved all of our equity compensation plans. These plans are designed to further align our directors� and management�s interests with the Company�s long-term performance and the long-term interests of our shareholders.

      That's from the 10-K. Perhaps it's time for the shareholders to "disapprove" of the excessive compensation?

      "designed to further align our directors� and management�s interests"? Sure, that's like giving the keys to the candy store to the neighborhood bully who just happens to have sweet tooth.

    • I�ve seen a previous post regarding this executive compensation issue that said management received a large batch of options this year that they may exercise over a period of years, but they are all listed on the books for this year. This makes it appear their compensation is high for this year only. I can�t say if that�s true or not, but I recall someone saying something to that effect. Can anyone confirm or deny?

      I have a long term horizon on JOE and love the company, but it does seem to me that some explanation is due for this level of compensation, particularly as a percent of revenue. I think management has done a great job, but they have great raw material to work with, and there are plenty of other people who could do it as well (although I disagree with the idea that �any moron� could do it as someone said previously). If I saw a shareholder initiative to do something about this compensation issue, I�d give serious consideration to supporting it.

    • To the best of my knowledge, the board had to to step up to the plate to get Peter R. to leave Disney and Kevin T. to leave a bank to join JOE in Jacksonville. So options etc. were granted. Seeing what mgmt has done to stock price, redeployed to shareholders via stock buyback and dividends etc. and the price of JOE stock when they joined versus today - I think mgmt was PROPERLY incentivized. They are getting paid because they made $$$ for shareholders - that is just. If they are able to get the same return on shares over the enxt 8+ years; I, as a shareholder. would happy to pay them similarly

      I disagree. This is not brain surgery or finding a cure for cancer. if they keep taking 50% of profits and stock does what its been doing over next 8 yrs, i say youl lose about 500% or more of what you really should have made. At the race track, if you hit a 10-1 exacta, do you really not mind that the track keeps 25%????? I do!!!!!

    • Bill Gates doesnt take 50% of microsofts earnings and nobody should get more of a comapny than him! heck, I am sure warren buffett doesnt take 50% of berkshire. No management team is worth 50% of a companies earnings unless the found a way to make more land on earth!!!! Anyone disagree?


    • 1) if Peter Rummell had not joined JOE in 1997 with options etc. - we would be sitting with a sleepy conglomerate without gains that we have seen
      2) since 1998 - JOE has returned over $700 million to shareholders via stock buyback; growing dividend; spun off Florida East Coast and special dividends... current mgmt since 1998 has returned MORE to shareholders than the current market cap of the company and what is more....
      3) there is a huge pipeline of entitlements now - taking a lot of risk out of the story now that was there before. Now a pipeline where a pipe dream existed before
      4) airport coming and that is huge

      If current mgmt was incentivized by options and share price, we all benefitted and seems to me they earned their keep.

    • don't know if its black. and he won't tell me much about what he does, but, i think he's still FBI special agent(i know he did that cause i went to his graduation @ Quantico)... but he is so hush hush.

      i don't understand my posting deal.

    • Blackie... I went back to march and there appear to be plenty of your posts that show up. I don't think they've been deleted.

      Those black helicopters, on the other hand, are a real threat. Your son really fly 'em?

    • stu,

      thank you for that feedback.

      i don't know why they have disappeared on my computer. i will try to find out what's up.


      do you see my old posts? say, any in march?

      my son's in counter terrorism for the FEDs and flies one of those helicopters.

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