You're right. 100 Light St. is truly an outstanding example of a sterling investment. If it stays full the next 100 years (where have I heard that lease term recently) they may break even on it! A white elephant that they had to invest tens of millions in just to get it in shape to rent with what 2 years of free rent up-front.
That's intelligent! Either act like a class carrier and let people carry on a traditional carry-on or act like Greyhound. What's it got to do with the employees? None of the other trunk carriers charge a fee for a standard carry-on. It's not a question of being able to come up with the money--it's question of not wanting to be nickel and dimed.
Whatever you say. I'm sure you know more about their FAD than they do. I just read their reports for my information. Given their last 5 years track record, though, I feel sure you will get your wish for more dilution. TSO has escalated dramatically (by magnitudes) since they almost drove us into bankruptcy. Some day I'm sure it will get back to the $18/share (as I recall, though it may have been over $20) they paid when they last did a share buyback. Good luck. I don't wish them anything but success. I just think there is easier money to be made in this space.
Sortta. I still have my C preferreds. So I'll still have to look over their shoulder. But the only risk there (at least for now, if they don't increase the common dividend to an unsafe level as they did before) is an interest rate risk. So now I'm now incented to oppose a dividend increase--especially in light of their razor thin margin between the dividend and FAD.
So they want to follow Spirit and charge for a carry-on. What a hosing of their customers. I continue to hope for the demise of these airlines that gouge their paying passengers with excessive fees. Almost all carry-ons will now cost $25. What a crock.
No recent news from the corporation so I expect nothing to drive any increase in the PPS. I sold almost all my common today. It has dropped from well over $13 two earnings call ago to barely able to hold $11. I expect to be able to re-purchase what I sold today for $10 after the opening tomorrow.
I haven't continually bashed the company--only its recent performance and management compensation--something which is my right as a shareholder. And I did lighten my position in LXP the first time it went back over $10, but still have a significant position. And yes, I know the sector got hit by rising interest rates--especially the mortgage REITS. But LXP is not a mortgage REIT. And contrary to what Bubba thinks, I can and do understand the math--I just don't like it as much as he does.
Look, if this NYC land purchase was such a great deal why did the market not fall in love with it like Bubba did? I guess none of them understand the math either.
So let me see if I understand. The pps is down 3 dollars and the dividend is up 6 cents and they are supposed to get hefty bonuses based on that performance?????? Surely you jest! While I will agree some of the drop in the share price is related to the sector and interest rates, some of it is Mr. Market saying it doesn't like some of the deals, such as the NYC land purchase. When the share price gets to $20 I'll cut them some slack (that would still be down 20% from where it was before the bust). Until then, I see no reason for the management team to continue to profit mightily from having driven us to the brink of insolvency. Keep in mind that after presiding over a 90% decline in the pps they awarded themselves millions of options at prices as low as 3-5 dollars. So they never lost a penny due to the price decline. Only those of us who don't get cheap options have suffered the consequences of their mismanagement.
Should have read last week's 8-K before I posted. I see they gave themselves more millions of our money for what must be characterized as sub-par performance. As usual--no accountability for having done nothing for the shareholders. Al
Well I guess with a little luck we won't close on the low for the year--but just by a whisker. Not a very impressive performance where the market is up 25% and we have to be content with the 6% dividend. As far as I'm concerned management deserves not one cent more that their base salaries which should not be increased next year and should not be accompanied by any stock or option grants. If they are sold on their performance let them buy shares just like I do--on the open market at the current pps. Al