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The St. Joe Company Message Board

  • MINCE38 MINCE38 Mar 31, 2005 2:53 AM Flag

    management taking lions share!

    It doesnt seem to bother you guys that if you look at stock options exercised and salaries right here on yahoo1 that JOE mamagement is taking 2/3 of the profits for themselves. I sold half my position at 68. Wish i sold in the 70's. This is the best land stock in america seemingly ran by the greediest management since bernie ebbers ruined worldcom. I dont understand why the SEC has no caps on management compensation!!!!! Its a disgrace. This stock should be a double by next year easily and yet we are being raped. Why do you think its not at 75 anymore? yuh think land prices went down since its high 2 months ago. I say institutions are bailing like rats on a sinking ship. I pray it doesnt go much lower or I will have to sell my other 50% Any thoughts.

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    • Touch�...just trying to have a little fun & I never take the Cleveland jabs personally (although we are an easy target...kind of like picking on a fat kid...where's the sport?).

      The Indians aren't the loveable losers the Cubs are but it's not easy being a Tribe fan either. I'll be at the Indians home opener on Monday and i'm just hoping the game doesn't get snowed out....don't laugh, it's not uncommon here!

    • "you might understand southern but i'm glad to see they haven't made you a Braves fan yet"

      I am not a Braves fan..BUT.. a couple of years ago I was in physical therapy for a shoulder injury. I met a nice guy there who happened to be from panama city and was a major league pitcher. He had a series of injuries and was trying for a comeback. He got picked up by the dodgers for the 2003 season and mid season last year they traded him to the Braves. He is a middle reliever...a lefty who they bring in for a batter or two. So if I channel surf and get a braves game I look for him...TOM MARTIN if you see a braves boxscore...



      as to cleveland, sorry to bring up memories that sting... remember as a wisconsin alum, I did give your buckeyes the respect they deserved...

    • Auroleon:

      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 be....as 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 team....it 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, Auroleon...you 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.

    • Suggest you get over any naive hope that Joe stockholders are 'partners' w/ management in owning/developing the Company's land.

      • 1 Reply to scow2624
      • Suggest you get over any naive hope that Joe stockholders are 'partners' w/ management in owning/developing the Company's land.

        gEE thanks for the encouragement! -) But I think you are being realistic. It makes me sick to have spent so many years researching reit's and land companies, specifically in florida and the best one by far is JOE but management is too greedy. How can the SEC allow them to pillage the company? As well, the Dupont foundation which has been the largest shareholder of this co. since inception in the 1930's, and sellling their shares like mad this past year by the way, how could they have allowed this? Maybe thats why they are selling!

        Marc

    • mince, you wrote: "I dont understand why the SEC has no caps on management compensation!!!!! Its a disgrace. This stock should be a double by next year easily and yet we are being raped."
      I prefer capitalism! Let the market speak on these issues, NOT the government! Maybe JOE will double in the next year! Heck it pretty much doubled during the last year! That said, it does appear that management is VERY well compensated.
      Cheers

      • 2 Replies to wooglin_kai
      • mince, you wrote: "I dont understand why the SEC has no caps on management compensation!!!!! Its a disgrace. This stock should be a double by next year easily and yet we are being raped."
        I prefer capitalism! Let the market speak on these issues, NOT the government! Maybe JOE will double in the next year! Heck it pretty much doubled during the last year! That said, it does appear that management is VERY well compensated.
        Cheers

        Mince here,

        Thats what I am afraid of. that the market will speak on these issues, especially as all the mega millions of stock options that management has vomited on the public and diluted the float cause this baby to crack. After all, isnt supply and demand always the end factor? Look at this another way......maybe if management and insiders didnt dump so much stock, this puppy could be 70(again)? 80? 90 or more right this minute. Yet as i said previously, i do own this co and am praying for a miracle because the "real" book value per share is rediculously high! Let us all pray. I am not a basher, I DO OWN THIS STOCK!

        Mince

      • Woogling _kai_,
        I like your screen name, as I sign my name like that to my friends like you do. Please send me an email at bebgt1@yahoo.com so that I can send you a direct email.

        Friend of Knox.
        _kai_

 
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