White House Backs
By JOHN HECHINGER
April 24, 2008; Page A3
The Bush administration, seeking to avert a crisis for students seeking college money this fall, threw its weight behind a congressional plan for the Education Department to buy billions of dollars in student loans from private lenders.
US: Largest student lenders halt private, consolidation loan programs
By Naomi Spencer
21 April 2008
So far, according to an April 17 report in the Wall Street Journal, nearly 50 providers of federally guaranteed loans and some 20 private lenders have quit consolidating loans. According to the financial aid web site FinAid.org, two-thirds of the federally backed lenders have left the consolidation market in the past few months.
In response to the collapse in lending, Congress has introduced legislation that would essentially throw money at the private loan industry. Under a Democrat-sponsored House bill, which passed 383-27 April 18, the Department of Education would be granted authority to buy up private student loans, thereby flushing federal money into the lending industry.
Seatrade Maritime News
Baltic Exchange meeting tries to calm dry bulk fears
London: Over 400 brokers and shipowners attended a meeting at the Baltic Exchange last week to address a perceived “crisis of confidence’ in the dry bulk market. The move followed the collapse of dry bulk rates, as reflected Baltic Dry Index which had fallen from its record high of 11,793 points in May to just 815 points, its lowest level since 1999.
Exacerbating the problem is the threat of widespread defaults in the derivatives trading of Forward Freight Agreements (FFAs), with some brokers saying that speculators have been driving down the market. Baltic indices are used as the benchmark for FFA trading and therefore underpin the market.
The meeting attempted to settle nerves by reporting that 99% of outstanding October FFA contracts were successfully settled, an estimated 11,500 agreements with notional value of $20.25bn.
Baltic Exchange vice chairman Mark Jackson, who chaired the meeting, stressed that all obligations must be met on time under existing contracts in both the physical and freight derivatives market. Companies that risked “extreme financial distress” in doing so should alert their counterparties at an early stage in order to try and reach a resolution, he said, reminding that the Baltic has a posting system under which defaulting parties can be reported for contravening the Baltic Code.
In addition, the financial procedure of ‘netting’ – allowing the positive value and negative value of contracts to be set off against each other (i.e. rather than each being settled individually) – is being used as a “short-term solution” in the FFA market, Jackson reported. [23/11/08]
Insider Buying Heats Up in Energy Sector
By TIM MELVIN Follow | DEC 17, 2015 | 2:00 PM EST | 2
When I look at a beaten-up sector, one of the key tells that things may be near a turnaround is insider buying. I may not be an expert on a given industry, but the people running the companies in the space should have some deeper level of knowledge than I possess.
We are finally starting to see some insider buying in the energy sector after something of a lull in 2015. I have proven pretty definitively that I have no sense of timing when it comes to the oil market, as I have been long and wrong for a little over a year now. One of the reasons I had held off adding to my positions was the fact that insiders simply were not very active on the buy side......
......The biggest MLP buy was in shares of Energy Transfer Equity (ETE). Co-founder Kelcy Warren spent over $41 million to purchase 2.485 million shares. Energy Transfer, as general partner of Energy Transfer Partners (ETP), Sunoco LP (SUN) and Sunoco Logistics LP (SXL), owns oil and natural gas pipelines and storage facilities. It sells natural gas to utilities, independent power plants, local distribution companies and industrial end-users. Energy Transfer is in the process of trying to acquire Williams Companies (WMB). The shares have been hit hard in the current selloff and are down 52% in 2105. If successful, it will become the world's largest energy infrastructure company. (Energy Transfer Partners is part of TheStreet's Action Alerts PLUS portfolio.)
Warren is not the only one buying the stock. President John McReynolds bought 84,667 shares of Energy Transfer Equity this month, CFO Jamie Welch bought 50,000 shares and Director Rick Turner bought 5,000 shares. At this price, the shares are yielding 8.7%, so you will have a decent cash flow if you decide to invest alongside the billionaire pipeline operator and his executives......"
The New York Times
What Will Mac ’n’ Mae Cost You and Me?
"...Regional banks and savings and loans hold most of these shares; with these institutions already hurt by the mortgage mess, it seems unlikely that the Treasury would structure a Mac ’n’ Mae rescue in a manner that would pound them again."
Niobrara Shale: Will Major Recent Discovery Translate To A Major Source Of Gas Supply?
Mar 24 2013, 23:04
"Recently, the rich stream of news on the Niobrara has primarily been related to several horizontal plays in the Rockies targeting oil (the DJ Basin Niobrara play has already proven to be a major success and is moving towards full development mode)."
May 24, 2012
4:18 PM ET Carl Icahn Has Acquired Chesapeake Stake, May Be More Than 4% BloombergDow Jones
4:12 PM ET BlackRock Has 'Dramatically Increased' Chesapeake Stake Recently -CNBC's Kate KellyDow Jones
1:54 PM ET UPDATE: Chesapeake Selling Acreage In Colorado/Wyoming's DJ BasinDow Jones
1:11 PM ET Chesapeake Selling Acreage In Colorado/Wyoming's DJ Basin
12:54 PM ET Chesapeake Selling Acreage In Colorado/Wyoming's DJ Basin
12:54 PM ET Chesapeake Selling 503,863 Net Acres In Northern DJ Basin
Icahn May Hold More Than 4% of Chesapeake Energy Shares
By Zachary R. Mider and Jim Polson - May 24, 2012 1:13 PM PT
WEDNESDAY, MAY 23, 2012
Oppenheimer: Chesapeake Energy Is a Buy
Though the controversial natural-gas producer is fighting "an uphill battle," its stock is quite cheap, writes a highly respected analyst.
The Wall Street Journal
May 24, 2012, 1:27 p.m. ET
Chesapeake to Sell Acreage in Colorado and Wyoming
By ÁNGEL GONZÁLEZ
Chesapeake Granite Wash Trust Shares Enter Oversold Territory
Energy Stock Channel Energy Stock Channel, Contributor
When the global economy improves, DRYS is likely to rise well above $50./share. Patient investors will be rewarded.
Gates Foundation Buys Tripadvisor Inc., Diamond Foods Inc., Sells AutoNation Inc., America Movil, M&T Bank Corp.
Feb. 15, 2012
Bill & Melinda Gates Foundation just reported their 4th quarter portfolio. This portfolio has a lot of similarities with Bill Gates’ personal portfolio, and both are managed by Bill Gates’ investment advisor Michael Larson.
Unlike mutual funds or hedge funds, Gates’ Foundation does not have the problem of forced redemptions. The turnover of the portfolio is really small. The foundation buys TripAdvisor Inc., Diamond Foods Inc., sells Autonation Inc., America Movil S.a.b. De C.v., M&T Bank Corp. etc. during the 3-months ended 12/31/2011, according to the most recent filings of his investment company, Bill & Melinda Gates Foundation Trust. As of 12/31/2011, Bill & Melinda Gates Foundation Trust owns 29 stocks with a total value of $15.3 billion. These are the details of the buys and sells.
New Purchases: TRIP, DMND
December 16, 2013
....Natural gas production will grow steadily, jumping 56% from 2012 to 2040, according to an early release of an annual report by DOE's Energy Information Administration.
"Advanced technologies for crude oil and natural gas production are continuing to increase domestic supply and reshape the U.S. energy economy as well as expand the potential for U.S. natural gas exports," Adam Sieminski, EIA Administrator, said in releasing the Annual Energy Outlook 2014.
July 30, 2008: 07:14 PM EST
(Updates with meeting between CEO McClendon and House Speaker Pelosi)
By Siobhan Hughes
Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The chief executive of natural gas producer Chesapeake Energy Corp. (CHK) on Wednesday tried to broaden the market for natural gas by appealing to political concern over the U.S.'s energy crisis, telling Congress that the fuel can provide a solution to both high gasoline prices and climate change.
Chesapeake Energy Chief Executive Aubrey McClendon started his day by presiding over the release of a new report showing that the U.S. has enough natural gas supplies to meet more than 100 years of demand at current levels.He ended with a private meeting with House Speaker Nancy Pelosi, D-Calif., and other House Democrats for more than an hour. In between, McClendon told a U.S. House committee that the country could build more natural gas vehicles and gas- fired power plants without raising prices for fertilizer, chemicals and other products that are made with natural gas.
"Three years ago I would have said no," McClendon told Rep. Ed Markey, D- Mass., chairman of the Select Committee on Energy Independence and Global Warming. Markey had asked whether natural gas supplies were enough to reduce the nation's reliance on coal-fired plants to about 35% of electricity from 50% currently, without raising natural gas prices. "Today, I say yes," said McClendon.
Hello, Water_skipp...and thanks for the information. Most of the current posts are bearish on TNH; however, my sense is that the imminent dividend and low PPS make it a good (yet tricky) time to add shares. What do you make of that approach?
What's in Store for the Fertilizer Industry?
by: Early Bird posted on: September 03, 2008 | about stocks: AGU / DBC / GSG / MOS / POT / RJA Font Size: PrintEmail After being an active trader in stocks related to the fertilizer industry for the past three years, I have recognized some interesting factors that have had a huge impact on the price movements of these companies' stock prices.
Since the stock price of listed companies in the fertilizer industry peaked in June, it has slumped by approximately 30%. In the same period, the fertilizer industry has experienced 15% higher prices for the fertilizer UREA (same for CAN, Amonia etc). With the fertilizer price booms, we also are watching the prices of oil and natural gas falling sharply, which means higher margins for the fertilizer producing companies. They are reaching all time high profits for their products. Why is this so? Why does the stock price of fertilizer companies fall when they experience higher prices for their products and better margins?
I believe one answer is the food prices ("of course", you might think, but few people care about it on a daily basis). You'll find a high correlation between the corn price (same for wheat, soybeans) and the stock price of i.e Agrium (AGU), Mosaic (MOS) and Potash (POT). It is important to watch the food prices closely. That is why the global sell-off in commodities has also hit fertilizer stocks hard.
In the long term, I believe that fundamentals will win, and last week's news about China hiking and expanding their export taxes on fertilizer will yet again boost international fertilizer prices and hence give better profit. It's a proof that the demand is still strong and supply is still insufficient
And, while the oil price keeps falling, I will keep on buying. Remember, lower oil and natural gas prices gives lower costs.
I initiated a position in the BEE preferred "A" shares at $5.30. I'm not pleased that the shares have declined since then, but the overall market has fallen as the recession has plumbed its depths.
On CNBC today, Warren Buffett reiterated his belief in stocks. "Buffett said he doesn't regret writing a commentary in the fall encouraging people to buy U.S. stocks, but he joked that in hindsight he wishes he'd waited a few months to publish the piece."
I plan to add to my BEE A shares.
Yes. The BOD made a prudent decision cutting the dividend, which as a function of the $8.40 pps this morning is still a 10.0% yield.
Sentiment: Strong Buy
World Acceptance Corporation Reports Record Second Quarter Results
Tuesday October 24, 6:30 am ET
GREENVILLE, S.C., Oct. 24 /PRNewswire-FirstCall/ -- World Acceptance Corporation (Nasdaq: WRLD - News) today reported record financial results for its second fiscal quarter ended September 30, 2006.
Net income for the second quarter rose 32.7% to $9.9 million, or $.52 per diluted share, compared with $7.4 million, or $.39 per diluted share, for the same quarter of the prior year. Total revenues for the quarter increased 18.4% to $67.2 million from $56.7 million for the prior year quarter.
"Our strong earnings benefited from excellent loan growth, lower charge-offs and continued improvement in expense ratios compared with last year's second quarter," stated Sandy McLean, CEO of World Acceptance Corporation.
Yes, and as Forbes notes:
Fertile Trades In Fertilizer Stocks
Jocelynn Drake, 01.15.10, 04:10 PM EST
....Meanwhile, short-sellers are starting to shed their bearish bets. During the past month, the number of AGU shares sold short decreased by 11% to 8.2 million. However this buildup of pessimistic positions is still more than five times the equity's average daily trading volume. A continued unwinding of these bearish bets could fuel a significant rally....
Goldman Hit on First Marblehead
By KEITH WINSTEIN
April 8, 2008 1:18 p.m.
...First Marblehead's shares have fallen sharply since December, when Goldman agreed to invest $260.5 million in the Boston-based bank in a complicated transaction that valued the stock at an average price of $13.93 per share....
....According to First Marblehead's filings with the Securities and Exchange Commission, Goldman has also agreed to pay an additional $200.7 million for preferred stock convertible into 13.4 million First Marblehead common shares, or $15 per share, subject to "applicable regulatory approvals....."
Hello, Bassbone88...If you Google, "Help May Be Coming for Sallie Mae," it will generate the link for the Motley Fool article.