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PetSmart, Inc Message Board

buy_buy_buy_123 64 posts  |  Last Activity: 21 hours ago Member since: Nov 18, 2005
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  • Reply to

    18 the new 17

    by jmft.rm May 24, 2016 11:09 AM
    buy_buy_buy_123 buy_buy_buy_123 21 hours ago Flag

    Since when does SPIL have a controlling stake in Chipmos?

  • Reply to

    suppress price for LBO?

    by yxd0018 May 25, 2016 4:51 PM
    buy_buy_buy_123 buy_buy_buy_123 May 25, 2016 6:03 PM Flag

    I think you are getting a little paranoid over the reason for the price decline other than some fund(s) has a bunch of shares to sell.

    The company has already been sued and lost over their buyout of Bluegreen and that case would be nothing compared to this one. Bluegreen they actually had another offer on the table and the company came in with a significantly higher bid, yet they still lost the appraisal rights case. For an LBO to happen they'd need to find a willing partner since they don't have the cash for an LBO. Then they'd get their nuts sued off trying to buy a company trading significantly below book value and end up paying through the nose since it would be pretty easy to make a case that the stock is worth significantly more than it is.

  • Reply to

    The divergence is really amazing

    by jsb1949 May 18, 2016 4:25 PM
    buy_buy_buy_123 buy_buy_buy_123 May 24, 2016 10:11 PM Flag

    Because someone owns BFCF and wants to sell?

  • Reply to

    annual meeting

    by vonbinsk May 5, 2016 12:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 24, 2016 1:17 PM Flag

    Thanks. I speak to Leo several times a year and he does the best he can to provide me info.

    It's good to see some hostile audience members. There is no excuse for the stock to be trading at this price. The lawsuit has gone on way too long and has cost the shareholders millions. I understand they have to wait for the appeal to be done to complete the merger and I'm fine with that. Just keep on buying back shares. It's obvious based on recent trading that there are plenty of people willing to sell down here.

  • Reply to

    annual meeting

    by vonbinsk May 5, 2016 12:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 24, 2016 12:15 PM Flag

    Thanks for the update. Did they mention when this quiet period is over? Was the annual meeting stopping them from buyback back more shares? Definitely agree the merger and uplisting won't happen until the case is settled. Did they mention they would still like to get that done?

    I'm sure when asked about the stock price they always insist they are in it for the 'long term' and don't focus on day to day share price movements, but did anyone ask them if BFC is trading significantly below BV (which is likely significantly understated itself) why wouldn't they buy back more shares aggressively?

    Of course they will always defend their compensation. They are easily overpaid, but that won't change, so it has to be accepted. BBX Sweets who knows. I don't suppose anyone asked them about Renin? I have no idea what their plan is with that.

    It is funny to see the old, long term investors who show up. I think the stock could be at ten cents and they wouldn't complain.

  • Reply to

    annual meeting

    by vonbinsk May 5, 2016 12:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 20, 2016 8:38 AM Flag

    Thanks. That would be Von is going and me not going.

    BBX can appoint all the 'independent directors' they want. That doesn't stop lawsuits. I think with a merger BBX shareholders might have a harder case claiming they got ripped off. Let's say BFCF bought the rest of BBX straight out for $25. Well I can easily make the case that BBX is worth more than that. In the case of a merger assuming a reasonable merger ratio like they had before (5.39:1 shares BFCF for each share BBX) it is harder for shareholders to argue. After all if BBX is severely undervalued then it's a lot easier to make the case that so is BFCF since it owns 80% of BBX.

  • Reply to

    annual meeting

    by vonbinsk May 5, 2016 12:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 19, 2016 9:07 PM Flag

    micro,

    Unfortunately I can't attend the meeting due to another appointment, but based on conversations with the company I am fairly confident that BFC still intends to uplist. The appeal to the SEC suit appears to be one of the things holding that up. I also believe that BFC is going to need to get its share price higher to get on a major exchange. The share repurchase they just did they wanted to fit in before the earnings blackout. I get the feeling they are going to do more repurchases, but the main reason I wanted to attend was to push that case. The valuation is so ridiculous they should definitely be doing a major repurchase and definitely not any other acquisitions.

    The BCF - BBX merger was cancelled because of the ongoing SEC lawsuit at the time which prevented BFC from uplisting which was one of the clauses in the merger agreement. The tender caused no complications because it was completely voluntary. It also enabled them to get to the 80% ownership mark which allowed them to consolidate their financials. If they would have tried purchasing BBX that would have opened them up to potentially messy lawsuits from BBX shareholders claiming they didn't get fair value (sound familiar?). I think the next step will be an uplisting and then more likely a merger than a buyout for the rest of BBX.

    I could not imagine them wanting them to get back into the banking business. Especially at this point. Who wants to run a bank?

    I've asked about conference calls in the past and don't get the impression they plan on starting anytime soon.

    Regarding the lawsuit I don't expect them to win the appeal. The worst case scenario would be a retrial. The monetary penalties are minor and whether Levan gets banned for two years I couldn't care less.

    You can call Leo Hinkley from IR to ask about roadshows.

  • buy_buy_buy_123 buy_buy_buy_123 May 18, 2016 4:31 PM Flag

    Last I checked IMOS shareholders still have a controlling share of Chipmos. That only changes if the Tsinghua deal gets approved.

  • buy_buy_buy_123 buy_buy_buy_123 May 17, 2016 10:51 PM Flag

    Sean - Thanks. I can clearly say I don't pay any attention to the thumbs down.

  • buy_buy_buy_123 buy_buy_buy_123 May 17, 2016 10:50 PM Flag

    conversion - If it were that simple I don't think China would bother with Chipmos. It's not super advanced technology, but it's not something they can order out of a catalog either. Chipmos does have patents on some of their processes as well as skilled labor. Management indicated on the call that they see the demand with or without the Tsinghua deal getting done which is why they aren't waiting for approval before starting the expansion.

  • buy_buy_buy_123 buy_buy_buy_123 May 17, 2016 4:46 PM Flag

    johnny - I agree I'd feel more comfortable with the Tsinghua deal going through - both for the 40NT price they are paying and the customers they can direct towards Chipmos. That said I'm not sure China has a choice for now. If China wants to grow their industry they will need the help of Taiwanese companies like Chipmos. China is trying to build a semiconductor industry from scratch. They have neither the technology nor the expertise to do LCD bumping. Chipmos is only spending $50M this year on Shanghai expansion. By the end of the year we will probably know whether the JV goes through. After the Chipmos can decide if they want to spend for 2016 expansion, but if the demand is there I'm sure they'll proceed.

  • buy_buy_buy_123 buy_buy_buy_123 May 17, 2016 12:44 PM Flag

    Yes, the total capex requirement is about $200M total. From what I heard on the conf call and based on my emails with David P. the following day the demand from customers for the expansion in China is independent of whether the Tsinghua deal gets approved. They feel the demand is there either way. The $200M capex is through 2018 with only $53M for 2016. So if there is a recession or something and demand goes down they always have the option to delay or cancel the rest of the expansion.

  • Reply to

    Earnings and CC thoughts

    by imos_is_garbage May 12, 2016 4:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 17, 2016 10:44 AM Flag

    HIMX did tank quite a bit after earnings, but then again it had a big run-up and trades at a much higher multiple than IMOS. I think people get all excited over HIMX with the VR stuff, but probably a little overhyped short term is my guess.

  • buy_buy_buy_123 buy_buy_buy_123 May 16, 2016 9:28 PM Flag

    Zheng Shijie said: "Thank you very much for Nanmaokeji syndicated loan consortium and the management team for a long time given the support and affirmation Nanmaokeji current business focus is to maintain the existing flash memory and DRAM packaging and testing services, at the same time. actively expanding the liquid crystal display driver IC and wafer bumping manufacturing capacity to meet the strong demand 4K2K and other ultra-high-resolution panels. this year's capital spending to LCD driver IC packaging and testing and wafer bumping based manufacturing capacity expansion. "

      South Mao in the first quarter is not only better than expected revenue, earnings per share performance is better than the industry Qi State (6147), in the second quarter outlook, due to the large size of the wafer line drive significant signs of rejuvenation, plus upstream customers wonders of the season optimistic outlook, south-mao quarter by quarter revenue is expected to single-digit percentage, while the single-quarter profit growth rate was significantly better than chance on the quarter; Further south mao just recently announced the opening of treasury shares, which is the company's first year treasury shares to enable the second time, since the number of treasury shares to the last South Mau full foot, to this end, the industry is expected, this time south of Mao 15000 will also get full, warm sound with this industry, together with treasury shares advantage for the subsequent share price performance is expected to have some help.

  • Reply to

    Earnings and CC thoughts

    by imos_is_garbage May 12, 2016 4:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 13, 2016 1:48 PM Flag

    Some nice trading going on. Some people seem content to sell, but there have been some very large buys of 10k and 20k..

  • Reply to

    Zacks

    by generator77 May 13, 2016 9:40 AM
    buy_buy_buy_123 buy_buy_buy_123 May 13, 2016 9:47 AM Flag

    I don't even know if most of those Zacks writeups are real people. Sometimes they change from sell to buy and back to sell if a few days.

  • Reply to

    Earnings and CC thoughts

    by imos_is_garbage May 12, 2016 4:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 13, 2016 9:44 AM Flag

    That big pre market hit was a toal of 600 shares.. and after the one dope who probably only can read a headline sold a few thousand shares on open the smart people came in and jumped on it... I was going to buy a bit if it kept down a while longer, but it jumped up quick...

  • Reply to

    Earnings and CC thoughts

    by imos_is_garbage May 12, 2016 4:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 12, 2016 8:38 PM Flag

    Sounds like it. Thanks.

  • Reply to

    Earnings and CC thoughts

    by imos_is_garbage May 12, 2016 4:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 12, 2016 8:13 PM Flag

    Here is that part of the call. So does that mean they vote on it at the end of May? Is that a shareholder vote? If so I guess IMOS votes yes.

    Scott Bishins - Caffeine Holdings

    Hi S.J., S.K. I have just two questions here. First of all, have you yet announced the dividend for 2015 for 81.50 [ph]?

    S.J. Cheng

    Actually yesterday we had a Board meeting and the Board already have -- we already proposed to the Board but need approval in the main shareholder meeting. That's the current status. And --

    Q - Scott Bishins - Caffeine Holdings Have they stated the amount?

    S.J. Cheng

    Okay. Let me finish with -- in my stream. Since the process in Taiwan we've got approval in the May 31 shareholder meeting. Their board [inaudible]. And we are ready to propose to the Board to distribute the cash dividend end of the 2016. So after the merger, so that ChipMOS Bermuda shareholders can enjoy this cash dividend after the merger.

  • Reply to

    Earnings and CC thoughts

    by imos_is_garbage May 12, 2016 4:21 PM
    buy_buy_buy_123 buy_buy_buy_123 May 12, 2016 7:55 PM Flag

    No I don't think so. Here is what I pulled up from the last conference call transcript:

    "Another that come up around the merger agreement announcement was the dividend policy of ChipMOS Bermuda and Taiwan. We fully understand the timing issue. We do not have any resolution to talk about on today's call. But I can tell you, we plan to propose to the board that ChipMOS Taiwan's dividend distribution happen later in 2016. This will be also reflect the interest of current ChipMOS Bermuda holder.

    So the process [inaudible] the cash dividend is normally reported on in the May ChipMOS Taiwan shareholder meeting. After approval, the Board can decide a distribution and authorize the plan. We plan to propose that the A-share [ph] distribution be set for later in 2016, after the merge goes. That is where things currently stand on both merge and dividends."

PETM
82.980.00(0.00%)Mar 11 4:00 PMEDT