Morgan Stanley WISHES.
They can make money on their short and then go long at the bottom.
If it looks, waddles, and quacks like a duck, it is market manipulation.
Friedman ran Incyte as CEO for 12 years. He is currently on board of AUXL. AUXL CEO has created and sold many biotechs at big gains. Friedman has great connections and experience. Friedman's appointment as director makes the Bahcall resignation look positive.
Yeah you were a bit under. My only bad news was I wish I had bought more at 32-33. There are lots of negative articles written forecasting bleak future for railcars. I bought ARII as an alternative to my pipeline investments, because I think railcars will take up slack where pipelines are lacking. CEO says they are maxed out on increasing production. I think the new proposed safety regs. will only mean more business replacing and upgrading existing railcars.
My broker told me over phone that option 2- all cash- is the default option if you do not elect.
Due to short time and no information on website, I imagine many shareholders were not informed of election by WMC. I left message by phone and email with WMC IR, and so far no response.
Market is still going to react negatively now to poor numbers. Share price probably falls further from here assuming that. I think it is a buy at $20 or less.
Not a turnaround, or just downsizing, but he is gutting Quik. Only brands left are Quiksilver, Roxy and DC. Since they discussed selling DC before Mooney, I expect DC to be sold off this year. But the price of the brands sold hardly makes a dent in now $831 million debt, what is Mooney's long term plan for survival?
Surf people have mostly left Quik. Now becoming just another clothing company. I think Mooney wants to sell off Quik, making a big payoff for him. But who will buy with all this debt. The brand is no longer worth what it was.
I heard Obama has a new jobs plan:
Transport oil one tea cup at a time carried by workers on foot at $10.25 per hour.
What a guy! Put America back to work.
They could probably rehab the leased cars to comply with the new regulations. Hopefully. the government will provide time for that. They might even be able to charge lease customers the cost of the rehab- depending on lease terms.
All the articles on Seeking Alpha say that Liberty shareholders cannot vote as that would be a conflict of interest, since they are swallowing SIRI in one cheap bite. If they could vote, Malone could buy SIRI for $1 and he probably would try.
We can hop that the (socalled) "independent" committee will judge Malone's offer as too cheap and ask for $4+. Regardless, SIRI smaller shareholders will most likely all vote "no", but the big institutional SIRI shareholders will determine the outcome. I am guessing they will accept $4, which is why I doubt it will go higher; but I am hoping for $4.25.
Malone can easily pay more because it is not costing cash, but only paper he created as C shares. If Malone feels paying SIRI more in C shares raises the C share total count by too much, he can adjust the number given to Liberty shareholders from 2:1 to 1.5:1 or some reduced ratio. That is what really makes Malone's lowball ($3.68) offer so deplorably DESPICABLE.
Is that train crashes?
Fear over new regulations on rail car construction?
Increased cost in Bakken oil fields?
Seems to me that the rehab of existing cars is more business for ARII.
Replacement of existing railcars with new safer designs is also bullish for ARII.
They have to use railcars at least until new pipelines are built which takes years for permit approvals, environmental fights and lawsuits, and time to construct.
Price drop of ARII looks like buying opportunity.
But you will not own Liberty shares from this deal.
All SIRI shareholders will own is shares in a Liberty subsidiary that owns SIRI.
How much investor interest and liquidity in that when they can just buy shares in Liberty and own both Liberty and SIRI.
The pps of C shares could fall from lack of investor interest.
Malone is screwing SIRI shareholders in this deal.
Malone put SIRI in play.
What if other buyers offer over $5- like Google, Apple, Nokia (Here), or even Carl Icahn?
Malone would certainly attempt to block that.
I would prefer a higher offer of cash or shares in another company.
As I understand this deal by Malone, we do not get shares in Liberty.
We get non voting shares in a SUBSIDIARY of Liberty.
What and how many investors will be interested in buying shares in the SIRI sub of Liberty when they can buy Liberty shares and get both Liberty and SIRI?
There could be very little liquidity and interest in the new C shares. That is worse than the 3.68 price because market price could fall to who knows how low.
I got $48.68,
Here is how.
I took .076 times my SIRI shares for "X" (# of new shares). Divided my total SIRI cost basis by "X" which yields cost of each new share. Calculated my % of gain of 3.68 minus my cost per share. Multiplied that % (+1) times cost of new shares gave me 48.68.
But that is a value based on what Liberty says.
Who knows what market is going to value new C shares which only represent the SIRI subsidiary of Liberty. There may be very little investor interest and liquidity in that subsidiary.
That may be worse than the 3.68 price.
They deducted .00754 per share from my dividend.
Anybody know what that is?
Is not was not specified as a fee.
Just reduced from 1.10 less .00754=1.09246 per share paid net.
It really does not matter much right now how much the price bounces up and down on a daily basis unless you are a day trader. What really matters is:
1-Yearend financials. Most likely impairment charges for write down of investment in China.
2-How does CTB replace lost production in China at Chengsan? They have a (smaller) facility at Kunshan. Maybe they can ramp that up to 3 shifts over 24 hours. Or setup another production facility elsewhere where labor is more friendly.
3-How does this management recover shareholder value after the major blunder of this merger? This management has been obviously focused on a fast buck for their own quick exit. Now they have to manage CTB for improvement. Are they up to the challenge?
When all the bad news is out, I would expect the share price to drop further. I am not inclined to buy more until price falls to $20. Too much uncertainly at current price. Has to be a bargain for me.
I see no reason at all they cannot report:
1- leaving out China.
2- estimating China
3- including China for year to date of last report they received.
CTB obviously does not do well with lawsuits. Maybe they should fire their law firm, inside counsel, and CEO before they commence another lawsuit.