From the AP article "It said it wants to continue paying wages, royalties and interest without interruption". Any chance that is refering to paying intrest on the unsecured bonds? (1 more bond payment, and I'm whole again!).
I'm in the same boat with Escalara preferreds. Scottrade fee is only $7. Beings I did not get $7 total for a sell, I just had them take the fee out of my cash reserve, and sold off enough to take the $3000 dollars loss off of my taxable income for the year.
Yeah, well I've been holding for over 5yrs now, and I'm still $500 from breaking even (originally bought 600 shrs). idaho_david is right, POS.
bbarry is right. I've been holding a small position in ARR since feb 2011 (bought 600 shares back then). I calculated my net gain on this investment to date, and it shows a LOSS of $495 over the more than 5 yrs. I would not recommend this as an investment. Maybe a trade if you are good/lucky.
I just checked my Scottrade acct, and the Mar 15th bond interest cash payment, that was originally deposited on time, then clawed back 2 days later (just like Cube said), is back in my account now. Here's fingers crossed it stays in there this time!
Cube was right about the Mar 15th bond. Intrest was deposited into my account on the 15th, and on the 17th, it was taken away. The reason given was "company taking 30 days grace".
It's quarterly. The interest payment for 3/15 is for a different bond than the 2/15 one. I actually own the 3/15 bond and did receive the cash interest payment in my Scottrade account this morning. That doesn't mean it won't get yanked back out in a day or 2.
Yeah, it's for real, but I don't know how to prove it on a message board. I would not be surprised if Scottrade yanks it back out in a day or 2.
Wish I knew. FINRA is showing that trades were made on those bonds today. There were plenty of them available yesterday to buy on Scottrade for ~$2.50. None today. I cannot find anything on the www that officially puts Sandridge in default on bond payments. I'm guessing the interest payments on them next month will not be paid.
I own some of the Sandridge bonds that make payments on the 15th of Mar, and Scottrade has already taken those off the market, and classified them as "defaulted". Yesterday, they were still available for purchase on the secondary market.
You mean an un-rated debt, that is so risky it had to pay 10% interest, and just had a secondary public offering of it last May, at a 50% discount? I don't think so, Tim. The market has already determined the interest payments will be suspended soon.
I actually did try to place a limit buy order, online (Scottrade). Apparently, online trading has been suspended for MCEP at Scottrade. You must contact the local office to trade now. What up with that?
This is still an MLP is it not? The whole purpose of MLP's is for income, through (hopefully) stable distributions. Any bump in share price is gravy. Who's going to invest in an MLP that does not have distributions.
Yup, look what happened to the price of ESCRP when they suspended the distribution. It had paid like clock-work since 2007, and was always trading near or above $25 (par) until last year.
I own some of the 878742AW5 teck bond. I was expecting the simi-yearly intrest payment to hit my Scottrade account yesterday (7/15), but still nothing there yet. Is there a delay due to it being a foreign based company?