I'm sure you will. We don't even know when we will get our shares, let alone when the date of record will be or what the ratio will be. GE is not very shareholder friendly.
My understanding was that we had to trade our GE shares (as many as we want) to get the SYF shares, but the ratio is unknown.
They are spinning off their credit card operations to shareholders. It's already trading as Synchrony Financial ticker symbol SYF - sometime this year shareholders will get their stake in the company, nobody knows when but it's 2015.
Anyone know when the spinoff is going down for shareholders, and in what way we benefit from it? All I can get from shareholder relations is that it's happening in 2015. I want to know specifically when! Now I know GE shareholders will trade GE shares for the spinoff shares, but do we get a favorable exchange or do we get screwed by getting the new shares at market price?
They are taking on new debt. This industry is in decline as people unplug and use phones and tablets for communication and entertainment. This is better than the video rental business was as new technology slaughtered it, but not much better. Don't fall in love with this, you can get better yield with something like PCI and get paid every month instead of quarterly, with less risk.
That's cool, you're right. It wouldn't make sense for me to get the shares. I could just re-buy at these lower prices, but I think I'll sit this one out. More interested in getting the Paypal spinoff and adding to my oil long.
It's an open question, but in my opinion this is a bad deal on several fronts. They are spinning off their debt into a REIT, and before they even spin it off announce today a plan to create more debt. An industry in a slow death march as people unplug, and they are trying to mitigate that decline by getting into a highly competitive business services sector. I don't know man, I remember selling this in the double digits not too long ago. Recently did a short term trade that I closed out a few days ago, but now I'll just ignore this as even a short term trade seems like a no win situation.
Sentiment: Strong Sell
Oh ok man, whatever you say! You should inform the company because if what you said was true, they just set themselves up for one heck of a lawsuit sending that letter. :)
Don't seem like it. The shareholder letter I got said all shareholders of record as of the close of business on 4/10/15 will get shares. Whatever shares you had that day will get you 1 CSAL share for every 5 WIN shares you had.
Haven't you read the shareholder letter sent this morning? Your broker should have sent it to you.
I was surprised! The shareholder e-mail shocked me when I learned I was getting the shares despite selling yesterday. I was a shareholder of record on the 10th! Ha ha, I wonder if WIN will plunge on the spinoff date?
I sold yesterday. Today I got a message from WIN regarding the spinoff, and I figured I was about to get the news that if I had held one more day I'd have gotten the shares. To my astonishment, it said shareholders of record as of April 10th will get the spinoff shares. I can't believe I won one for a change!
Wall Street missed the jump Friday, so today they're talking it down using low oil prices as the basis since GE makes a bunch of money from the oil industry. All of this is known, but when people have a little profit they head for the exits.
Imagine being the guy who sold into this only to see it start bouncing back within 24 hours. Now they have to pay more to get back in on top of what they lost panic selling.
Yesterday and today would have been awesome days for my portfolio because GE is my largest holding, and it is skyrocketing!! However, my 2nd largest holding is PHK, so I'm actually near break even despite GE finally taking off like a rocket. I know this will recover and all, but it would have been nice to see a nice big gain in this situation, but as usual the GE and PHK thing happened on the same day and I got no joy. :(
The writer apparently has no name, or was ashamed to put his name on that article. Seeking Alpha regularly does this to PHK, I've seen the articles many times. PHK chart shows that it does these plunges every few months, you just have to live with it.
If it was, every guest on CNBC would be in jail. It's no big deal, I've seen this drop all the way below 8 bucks then bounce back. It's thinly traded so the moves can be brutal, that's why it gets targeted like this. I think the volume today was 16x normal volume. Nice payday for the guy who burped out that article.