The S-4 pertains only to the merger with Berry. It would be nice if the deal goes through, but if it doesn't it is back to business as usual. LINE was as high as $42 not so very long ago and the distribution was around 7%. Everyone was happy. This is a stand alone of $35-$38 stock. This SEC has been a pain in the rear, but nothing has changed in LINE's business model itself. I believe we are going to see a very good 3rd qtr report. That report does not have to say anything about Berry. it would be nice if they gave us some direction, but I don't care. I have owned LINE for 7 years, they have never missed a distribution and even when their price was in the low 20's it was a sound company. I don't care whether the deal goes through or not I will own LINE in 2014, 2015, 2016, 2017 do you get the message. I am here for the long haul. The heck with the BRY deal. Do it or don't do it. I don't care.
You are fooling no one. It is obvious what you are trying to do. Also you know very little about LINE and BRY. Pack your bag and move on.
We ( the people on this board) have little or no knowledge of the real fact. We are such a very, very small minority ( we don't even show up in stats) the powers that be cares less what we think. The facts are that 90% of the floating stock is owned by Institutions and Mutuals. That is 45 million shares of voting power. So about 30 people who vote these shares will decide if the deal goes through. These guys are bean counters, they vote with no emotions. The bottom line is money and how much. These guys are going to make more money in 2 years when the deal goes through that they will make in 10 years with BRY as it stands now. They know exactly how much each share of BRY is worth, and it ain't $47. So you say "why not sell it now?" Just think, if one on the guys put 3 million shares out there Monday, which would be almost 10% of the float, how far and how fast do you think the BRY price would drop? Just suppose 2 or 3 of these guys made that decision at the same time, by the close Monday BRY would be less that $40, maybe more.
I'm guessing we are going to see a very positive CC Wed. maybe even an announcement of the vote and in 30 days (how does it take to call 30 people) all this will be behind us. BRY will be a part of LINE and LINE shares will be $35- $37 and, when 4th qtr results are announced in Jan. we (LINE) will be in (or go to) the low $40's. Remember MLP's depend on low interest rates and the feds have already said there will be no
tapering until at least Mar-Apr. and maybe longer.
Anyone notice that each time hockey puck comes out with a "new" article he uses a different avenue. While I never completely bought into Market Watch, I did on occasion give them the benefit of the doubt, no more, this gal is just as sleazy as the Barron dude. I'm also beginning to think that hedgeye is not the real force behind this punk, oops puck. It's higher up the food chain.
Who do you think was buying this morning in 20K-60K blocks, certaintly not guys like us on this board. Most of the action was this morning was buy side. The volume is already past avg daily volume in the first 3 hrs of trading. It is the little guys selling now in in HUGE blocks of 200-2000 shares that's bring the price down. The ones that got lucky when they bought their 2500 shares at $23-$26 and now they are taking their profits and like some on this board they are selling because they got even ( all 500 shares). I've been here for 6 1/2 years ( on the DRIP) and LINE has never missed a distribution. Now all you shorts show me the negatives!!!
If I owned 10,000 shares of BRY ( which I don't), I would sell all first thing Monday morning. This is the most overvalued MLP on the market. Sort of reminds me of EVEP about this time last year. If the merger does not happen on the 1.25 ratio, it will not happen. If the merger doesn't happen, BRY will be less than $38 in two months. BTW for what it's worth, I would take the money from the 10,000 shares and buy LINE or one of several really good underpriced MLP's out there.
I did not say it was a MLP. You fancy yourself a numbers guy. Do the DD. If you still believe it's undervalued, buy a bunch and reap that 8 cent dividend while the pps keeps going down. I'll keep my LINE and we will compare numbers in a couple of years. Oh wait, we can't do that, BRY won't be around in a couple of years. It will be bought or merged with a company that waited and bought it for it's real value, maybe even less because of their cash flow and growth problems. FWIW the one really good thing BRY has going for it right now is it's technology and that would be very beneficial to LINE and/or several other MLP's.
I'm assuming MF, SA, The Street and others like them are paying Yahoo to post these as news articles. I don't see legit sources printing their garage. Yahoo needs to print only reliable news sources if it truly wants to be respected.
Even tho management has been very quiet lately we should hear a roar in the next 2 weeks. Look for announcements on New Media, this should happen on or before Dec 16th. We should also get some guidance on the dividend by Dec.20th. Both of these should be very positive going forward. If we don't get these announcements by those dates we are probably going to get lumps of coal for christmas.
The complete offering is sold out. We should pick up .20 cents -.40 cents in the next few days. Hopefully we will hear some good news on NM by middle of Dec. and be $6.00 + going into next year.
His disclosure that he has no interest in LINE. Pure BS. I would also like to see those credentials from harvard (sic) and stanford (sic)
Today is a case of a rising tide, let's all just enjoy it while we can. In addition I also think when qtr 3 numbers come out we will all rejoice a little more.
I have not used my margin account since 2000, but if the 3qtr is what I expect Monday, I am going to double up, and my share position in LINE is in the 5 figures. LINE has had an outstanding reputation as a MLP ( one of the best) since I have owned it. I haven't seen anything to change my mind. For sure a 27 year old second string hockey player is not going to change my opinion.
Do you think I don't know that, I've only been doing this for 5 decades. The point is it cost me nothing and there are some qtrs I get lucky and the open market shares are a few pennies cheaper. But if you really insist on splitting hairs you are correct, you are absolutely correct.
The amended S4 is supposed to be available on the SEC web site this morning. I was assuming this to mean when the market opened. It looks as if the SEC is still playing game with us. I can't find it anywhere. It was my hope this one would give us all the answers we wamted.
Like most everyone here, this sounds like a bad deal. But remember they told us up front their (management) intentions. The real money people (not us little bitty guys) get 40% on the dollar they invested ( the other way they were going to evenually have gotten nothing) Gatehouse then does a preapproved BR and the new company is formed with the same players and no debt. NCT then does a spin-off where we get 1 for 1 shares of New Media PLUS a dividend. Our new shares will be worth about 3 to 5 dollars. By the end of the year newspapers will not even be a part of NCT and have no effect on senior housing.