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SWS Group, Inc. Message Board

catalprod 48 posts  |  Last Activity: Jan 16, 2015 11:06 AM Member since: Jun 20, 1999
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  • The new type of debt would build upon the $10 billion private-activity bond market by including funding for airports, ports, mass transit, water and sewer initiatives.

    Obama Proposes New Muni Bonds for Public-Private Infrastructure

    By Brian Chappatta - Jan 16, 2015

    President Barack Obama is proposing a new class of municipal bonds to spur public-private partnerships in U.S. infrastructure projects.

    The program, called Qualified Public Infrastructure Bonds, wouldn’t expire, and there’d be no cap on issuance, the administration said in a statement Friday. The debt also wouldn’t be subject to the Alternative Minimum Tax, which limits the tax benefits and exemptions that high-earning individuals can claim to reduce their levies.

    “QPIBs will extend the benefits of municipal bonds to public private partnerships, like partnerships that involve long-term leasing and management contracts, lowering the cost of borrowing and attracting new capital,” the administration said in the statement. The bonds will serve “as a permanent lower cost financing tool to increase private participation in building our nation’s public infrastructure.”
    The proposal for a new type of security in the $3.6 trillion municipal market is part of a broader White House plan calling for more investment in roads, bridges and other infrastructure in advance of the administration’s budget proposal that will be released Feb. 2.

    The market contracted in 2014 for an unprecedented fourth straight year as local officials refrained from borrowing even as tax-exempt interest rates were close to generational lows. The last time the market expanded was in 2010, the final year of the federal Build America Bonds program. That program provided municipalities a subsidy on interest costs for issuing taxable debt to finance infrastructure work.
    Building Block

    The new type of debt would build upon the $10 billion private-activity bond market by including funding for airports, ports, mass transit, water and sewer initiatives. The bonds couldn’t be used to privatize public systems or finance privately owned facilities.
    America’s federal, state and local governments need to spend $3.6 trillion through 2020 to put the nation’s critical systems in adequate shape, according to a 2013 report from the American Society of Civil Engineers. Without higher spending, the group projects the costs of travel delays, power and water outages will reach $1.8 trillion by 2020.

    Sentiment: Strong Buy

  • The U.S. Army Corps of Engineers, Philadelphia District, has just awarded a $128.17 million contract to Great Lakes Dredge and Dock, Co., LLC, Oak Brook, Illinois for the Long Beach Island shore protection project.

    GLDD won the contract, with options, for beachfill and completion of initial construction, from Barnegat Inlet to Little Egg Inlet, Long Beach Island, New Jersey, with an estimated completion date of August 11, 2017, according to the defense.gov

    Long Beach Island is an 18-mile barrier island in southern Ocean County, New Jersey. This area regularly suffers damages from coastal storms, hurricanes and northeasters. The shore protection project is designed to reduce erosion and property damages associated with these events.

    A Feasibility Report Completed in September of 1999 recommended a 22 foot high dune with a 125 foot long berm at an elevation of 8 feet above the water line to protect the island from wave and storm damage.

    Approximately 11,000,000 cubic yards of sand was planed for the initial construction. A periodic nourishment cycle will contribute an additional 2,000,000 cubic yards every 7 years.

    Dredging Today Staff

    Sentiment: Strong Buy

  • SEC website posting-
    Statement on Court’s Final Judgment in Case Against Life Partners Holdings, Brian Pardo, and R. Scott Peden
    Andrew Ceresney
    Director, Division of Enforcement
    Dec. 2, 2014

    We are pleased that the court today ordered Life Partners, Pardo, and Peden to pay over $46.8 million. In ordering this significant monetary relief, the Court recognized the egregious nature of their misconduct, noting that the Defendants engaged in ‘serious violations’ of the securities laws, that they ‘deprived the investing public of the information it needed to make a fully informed decision about whether to invest in Life Partners.’

    Sentiment: Strong Sell

  • A consortium consisting of Van Oord, Royal Boskalis Westminster N.V., NMDC (Abu Dhabi) and Jan de Nul (Belgium) has acquired a contract from the Suez Canal Authorities in connection with the expansion of the Suez Canal, which provides a vital shipping link between Europe and Asia. The total contract value amounts to USD 1.5 billion, with each partner entitled to an equal share of USD 375 million.

    While the consortium Dredging International NV (75%) – Great Lakes Dredge & Dock Company, LLC (25%) has been awarded the assignment to deepen and widen the western branch of the Suez Canal at Great Bitter Lake, Deversoir Reach and Kabreet Reach (lot number 6), worth 540 million USD.

    Van Oord, Royal Boskalis Westminster N.V., NMDC and Jan de Nul contract includes the construction of the parallel section of the canal with a length of approximately 50 kilometers to allow ships to simultaneously transit in two directions as well as the widening and deepening of a number of existing sections to a depth of 24 meters. The majority of the dredging activities for the canal expansion will be executed with 17 cutter suction dredgers. The project will commence in 2014 and is expected to be completed in 2015.

    The scope of works, awarded to the joint venture – Dredging International NV and Great Lakes Dredge & Dock, include the widening and deepening of the Suez Canal over a length of 25 km and until a depth of -24m. The consortium has committed to execute the works within a very short time frame in accordance with the requirements of president al-Sisi. Six cutter suction dredgers (4 DI CSD’s and 2 GLDDC CSD’s) and two hopper dredgers (DI) including some auxiliary equipment will be mobilized to perform the job. Works will start immediately.

    Sentiment: Strong Buy

  • The large drop in revenues and revenues net of brokerage fees, the significant legal and professional fees, and large operating losses have eroded the strength of our financial condition. We are managing our cash to fund our current operations through fiscal 2015. We may have to decrease our stock dividends and may make further cuts. Working capital is tight and we may have to explore other financing options if business does not increase and such financing options may not be available on favorable terms to us if at all.



    Outlook



    We are confronting a general decline in the life settlement markets and the fallout of the SEC action and the resulting private litigation. Regarding the life settlement markets, we believe that life settlements have desirable investment features that will eventually restore their attractiveness in the marketplace. We expect the supply of qualified life settlements to remain sufficient for our clients’ demand and believe the low correlation of life settlements returns to fixed-income and equity securities and their competitive rates offer an attractive alternative investment.



    Even though we were exonerated by the outcome of the SEC suit it is clear that the suit did damage to our reputation and our relationships within our licensee network and client base. We are working to rebuild confidence among our licensees and clients and to expand our client base. We continue to invest significantly in programs to develop and strengthen our relationships with new and inactive licensees. We have increased our communication with our client base, emphasizing the inherent benefits of life settlements as an asset class and the particular advantages of our settlements, which do not cap investor returns as do many of the settlements offered in the industry. We believe we are making progress in restoring the confidence and interest of our clients. We are exploring alternatives for expanding our client base, including new structures for investing in life settlements, such as the marketing of life settlements as securities. Over the last two calendar years, there have been over $112 million in payouts from our life settlement transactions.



    While we are working diligently on plans to increase business for both individual and institutional investors, our operating results for the First Half of this year are disappointing and we must do more to improve our operating results. Despite the increase in revenues, the significant legal and professional fees and the operating losses we experienced in fiscal 2014 have eroded the strength of our financial condition. We believe we have sufficient currently available working capital to fund our current operations through fiscal 2015. Our recurring operations are not currently generating sufficient cash to support operations. To supplement recurring operations, we have sold most of the settlements we held for investment. While we believe we could further support our working capital through other possible asset dispositions, borrowings or equity sales, our opportunities for generating significant cash apart from continuing operations are narrowing. We believe we must generate approximately $30 million in annual revenues to fund our operations and pay dividends, and we are working toward that end. Beginning in the Third Quarter of this year we will bill our life settlement investors for policy monitoring costs in order to recover the expenses of tracking policy premium payments and maturity payouts through the life settlement process. In addition, we are conserving our cash. We may reduce or eliminate the dividends for the remainder of fiscal 2015 and for 2016 to conserve working capital until we can realize improved operating results.

    Sentiment: Sell

  • Reply to

    Congress passes WRDA

    by rsp980 May 23, 2014 10:51 AM
    catalprod catalprod May 24, 2014 8:58 AM Flag

    Once Obama signs it we should see the pop. Short sighted investors still pouting after a weak first quarter where the worst winter in 20 years might possibly have been a factor??? The whole widened Panama Canal infrastructure play has yet to reach investors antennae but it will.

    Sentiment: Strong Buy

  • equity committee appointed by US Trustee who blasts company plan to force the plan through in the proverbial dark of night-Law360, Wilmington (April 24, 2014, 9:35 PM ET) -- The U.S. Trustee’s Office blasted Dolan Co.’s Chapter 11 plan and related disclosure statement Thursday in Delaware bankruptcy court, arguing that it is missing crucial financial information and “challenges notions of due process and good faith” by seeking to be fast-tracked

    Sentiment: Buy

  • Reply to

    steinway tower 111 w 57th

    by catalprod Apr 17, 2014 12:44 PM
    catalprod catalprod Apr 17, 2014 12:47 PM Flag

    also profiled in may 2014 issue of vanity fair - this months edition

    Sentiment: Strong Buy

  • great site to follow the progress of Ambases largest asset the Steinway Tower at 111 W 57th otherwise known as the stairway to heaven- newyorkyimby

    Sentiment: Strong Buy

  • allowing cellphone usage above 10,000 feet as FCC is proposing today will likely require the use of satellite bandwidth which ENT has in abundance?

    Sentiment: Strong Buy

  • catalprod by catalprod Aug 28, 2013 6:14 PM Flag

    once again SWS has proven what it needs to be parceled out in any kind of chunks buyers would like- sell the brokerage, sell the bank or just sell the whole thing outright. If there is a meadow muffin these guys haven't stepped in they will soon find it- seem to have figured out how to lose money in every corner of financial services

    Sentiment: Hold

  • turnaround continues with gain on conversion of TARP and very clean balance sheet. Still haven't put the $50 million deferred tax asset on the balance sheet which will really boost book value. Company continues to be very press shy perhaps until rights offering is completed.

    Sentiment: Strong Buy

  • once the june quarter results are posted (which should show a gain from the TARP conversion) then the rights offering to old shareholders can be completed THEN the reverse split can take place and this stock will start trading like a real company with real earnings and might even hold conference calls and get analyst coverage. All these positive shoes should start dropping real soon

    Sentiment: Strong Buy

  • Reply to

    stock offering yet preferred gets ZIP

    by catalprod Aug 8, 2013 11:40 AM
    catalprod catalprod Aug 8, 2013 12:58 PM Flag

    make them less than two years for selling shareholders and preferred holders have gotten no dividend for four years now- hmmm government converts TARP and gets to sell while preferred holders get lowball exchange offers and no dividends- nice work if you can get it. What kind of sheep would buy this offering with a ton more of the Treasury's shares soon to follow as soon as this offering is shoved down their throats

    Sentiment: Sell

  • the guys who bought inat $3.50 less than a year ago are cashing in while preferred holders haven't received a dividend in year. Man I gotta get a job in private equity

    Sentiment: Sell

  • catalprod by catalprod Jul 29, 2013 11:18 AM Flag

    insiders priced their share grants late last week after annual meeting approval so the stock is free to rise now- watch and see if this does not occur. also news on amazon chattanooga expansion along with other amazon expansions of warehouses. Reverse split one for ten ratified but no date yet- will make the stock marginable and more eligible for institutional ownership

    Sentiment: Strong Buy

  • investor lawson files 13D asking company to hire investment banking firm to sell the bank or otherwise realize value from this bank which has absolutely no reason to be public and independent

    Sentiment: Buy

  • Reply to

    prelim proxy

    by catalprod Apr 22, 2013 8:31 PM
    catalprod catalprod Apr 22, 2013 8:32 PM Flag

    prelim proxy filed this afternoon- no pro formas included

    Sentiment: Buy

  • catalprod by catalprod Apr 22, 2013 8:31 PM Flag

    not liquidating they are looking to buy or merge with another company once this is done- dicey but the right purchase could make it fly

    Sentiment: Buy

  • Reply to

    plan of reorganization filed Nov 6

    by catalprod Nov 17, 2012 11:16 AM
    catalprod catalprod Nov 27, 2012 10:29 AM Flag

    try united western- leave out bancorp or bank- case number 1:12-bk-13815- i can send you the 16 page pdf if you like

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