Don't know if it's just you, but I thought both cc and quarterly report were fine. Think FTR has turned the corner; will see increasing revenues and (for a while) decreasing expenses; and the stock will follow. Wouldn't be surprised to see 20-25% increase in share price by end of the year,steady YOY increases (both assuming a bull market, which I do) thereafter, and increase(s) in dividend by 2014. FTR has tripled in size; is adjusting to loss of old markets and gain of new markets; and executing on a long-term turnaround. I have a reasonably large (for me) long position, am down at this point, and very comfortable that solid dividend and share price increases will bring me well into the black.
I heard Adami talk about BX & say that this was the 3rd time it was pushing 19, & if it broke through, it should keep going. I didn't hear any mention of "high 20s/low 30s". But here's hoping!
Tax rate on carried interest affects Blackstone high income employees &/or owners. Carried interest currently taxed at cap gains rates. If taxed as ordinary income--which it should be(!)--private equity principals would pay higher rates.
Carried interest debate has no impact on BX enterprise value or stock price.
2.1 million shares already traded today. Triple the 90-day average; double the 10-day. Should be some big institutional buys coming by 4:00. Don't expect it to close above $5, but I'd take it.
Sentiment: Strong Buy
Me thinks you got it wrong! Quite wrong.
And have you noticed the recent direction of the stock price? Including up 4% on a day when the Dow is down 250 points?
Actually no, Richo.
Turns out that Lidi was utterly right--it was not our YONGYE. The company was Shanghai Yongye Group. It's (former) chairman was Wu Yongha.
Any other gotchas you want to try?
Richard X Roe--
You're completely wrong, as usual. I have checked further and it turns out that this occurred in and before 2009; was flagged by Morgan Stanley and reported to the Department of Justice immediately. They also fired their corrupt employee--immediately. this is old news--with the only exception that there has now been a guilty plea.
Here's the 2009 story: http://www.chinalawblog.com/2009/02/china_law_and_corruption_youd.html
Looking at how Morgan Stanley handled this 2009 matter, I have even more confidence in their 2011 investment in YONG.
Lidi--I wasn't misrepresenting anything. Just reporting a story which connected a guilty MS former employee with a YONG CEO, and raising questions--which I have now answered to my satisfaction. But you are right that the fraud has nothing to do with Wu--the culprit was the former YONG chairman.
Here's a very recent CNBC story re a Morgan Stanley director who pleaded guilty to violations of the Foreign Corrupt Practices Act for colluding with the "former" chairman of Yongye to divert funds to secretly buy Chinese real estate, while this chairman diverted business to MS. Doesn't name the YONG Chairman. Hope it's not Wu Zishen. Also hope there's no connection between this stuff and the MS/Asia investment/involvement in YONG.
But if there is......
In response to a variety of previous posts:
1. Bx dividend policy is unchanged. They will pay out $.10 per share for the first three fiscal quarters of their year, and an adjusting dividend to reflect net profits, or whatever, for the final quarter of the year--payable at the end of the first quarter of their next year.
2. I'm not going to bother to check, but my memory tells me that the $.22 dividend for the last quarter of 2011 (payable 3/30) is about a dime lower than last year.
3. As I write, BX has already climbed back to $16.40, and stands a good chance of closing north because the conference call comments were very positive about 2012.
4. The company and the stock are very well positioned for 2012 and future years, although no one can predict the future.
5. Similarly, no one can predict this Sunday's game in particular--Patriots and Giants are the two toughest teams left standing. But I do like the Patriots chances--ewspecialy if they can get production out of Gronkowski.
Good luck to all BX and Patriots longs!
No, my dear. You were wrong. YONG now @ $5.72 & rising. Could close above $6 today. Should close above $5.60. Massive short squeeze in place.
Hope you got your $700 before the second leg up. But how in the world could you short a stock on a day when the CEO announced a $3 million investment and Morgan Stanley bought $50 million of preferred stock--which pays a dividend--and placed its Asia Chairman--who happens to be both an engineer and a lawyer in addition to being an investment banker--on the YONG BOD?
You have exactly the right perspective: KPMG does not prove the strength of YONG's business, but it certainly is a positive which the shorts have to ignore.
I think this is a stronger arrow which YONG has just pulled out of its quiver: http://finance.yahoo.com/news/Yongye-International-to-Host-prnews-632564717.html?x=0&.v=1
I.E., the 2-day conference investor/analyst conference they have just announced--particularly the second day where analysts and investors can see the production facilities and lignite coal operations for themselves. They could never do that if they didn't know that Bezek, not-Richard X, Roe, et al.--who doubt I will show up--are just blowing utter smoke.
Don't know that today will be a turnaround, but--even in a down market--it should be.
Not sure why anyone is still focussed on performance of any investment in 2007. FWIW, I've been in FDGFX for 13 months. It's up 21% from where it started, including the paltry dividends it paid last year.
Would like better dividends, but the return is good enough for me.
BX shareholder payments are non-taxable distributions when they don't come from profits. They are then characterized as "return of capital" which are not subject to imcome tax, but reduce basis upon sale for capital gains taxes.
However, shareholder payments are taxable as either ordinary income or capital gains when they are paid from profits--as either from income (ordinary taxation), short term capital gains (ordinary income) or long term capital gains (cap gains tax treatment). BX, as a partnership, can also pass through capital losses--which are duductable on returns.
The preliminary K1 for 2010 shows some of these different reporting categories. Prior K1s show others.
When BX was not earning profits, it was still "returning capital" to shareholders from its available cash--an act of good faith. Now it is (increasingly) profitable. Doubt we will see any more "return of capital"--hopefully not for a long, long time.
TGIF! We all need a weekend break from BX rocketing stock movement. Then--may it continue!!
On February 3, 2011, BX announced it Q3 results, ending December 31, 2010, beating the Street by a lot; and announced it's fiscal year-end dividend of $.32; payable March 31, 2011 to shareholders of record March 15, 2011. BX pays a regular dividend of $.10 per quarter--plus this special dividend of $.22 for Q4.
Can't help noticing you come from Anchorage, Abibrs. Suggest you leave the sliming to your ex-governor.
Has model portfolio of Chinese Small Cap stocks up 32+% in 6 months.
"Disclosure: I am long Yongye."
Speaking of the short seller attacks on Chinese small caps, the author says: "Some of the assaults were pretty laughable (YONG, CAST), while others raise valid points and can not just be shrugged off by investors (CAGC, CEU)."
Seeking Alpha taketh away; Seeking Alpha giveth!