Yes, ouch for me. But my TAL is more than making up for it. Now I Gotta hope CZR doesn't pull a rabbit out of its hat... I'm expecting sale of marquee casinos to pay of the big debt.
They should change their last names because if a shareholder was ever to meet them and recognize them, it could get ugly.
I agree. I'm expecting share price to drop under $6 by end of week. As soon as rumors start about possible buyers (ex Steve Wynn, Tilman Ferititta, etc.) then CZR price goes up briefly... But when offer to buy comes in far short of the $$ needed to pay off debt, the share holder equity will crater.
Ironically, Melissa Knoll and Vincent Lazar probably bought a ton of put options or shorted CZR and will cum away with $$$$ on top of the $950/hr attorney fee Meilssa Knoll charged CZR for her services.
If ANY OF US had done what Vincent Lazar did to jeopardize such a high profile case, ALL OF US would be fired.
I hope all the CZR team and employees will read about this threesome and figure out they are ALL GETTING SCREWED by CZR's current management. Mark Frissora, Melissa Knoll, Vincent Lazar helped destroy the crown jewel of the Strip.
The attorney and her team hired by the desperate CZR team is caught with conflict of interest because she is having sex affair with a CZR attorney. That is just great. Her findings in defense of CZR's asset transfers is dismissed. Now CZR has NO PRESENTATION to counter the independent findings of the $5billion fraudulent transfer. CZR going down.
CZR is the parent company of Bally's Atlantic City casino. Apparently guests were not informed of the lead in water until recently !! Can someone smell more lawsuits coming to CZR?? When does the bad karma end?!!
TVIX will easily go back over $10. I'm not sure about $20 because that would be breaking below 1750 to me and quickly. I'm in at cost basis of about $6.25. TVIX is a great play to hedge to down side because you know volatility will come back.
That is lower than last year short volume reached over 15 million shares. Not much of a short squeeze event going to happen here. It is all mass exit of owned shares when BK order comes. Did someone yell "fire"?
Even the comments by Davis, investigator, was bondholders likely to win a lawsuit now because of the fraud.
It was pretty evident in the financial statements (yahoo finance) that net negative income each year since 2012 was going to eventually be a problem. Then you look at the balance sheet (qtrly) and see the long term debt to shareholder equity ratio was about 5:1. Total liabilities to shareholder equity about 9:1. Thus big debt to equity ratio, no earnings to make payments... sooner or later you miss a payment. Sort of like buying a house, mortgaging it to the hilt, then not making enough money to pay the loan regularly.
Say 200m shares x $5/sh stock price = $1 billion market cap valuation. But if they owe$18B, and selling all property is going to raise much less than $18B, I don't see how it can still have $1B valuation (ie. $5/sh stock price). If Junior bond holders get their payments, then share price has to tank quickly.
Look it up. Stock Trader Almanac shows amazing historical pattern for natural gas from Feb to June... prices go up. I have no idea why. It seems counter intuitive since the weather is warmer during that period. But GASL is a great leveraged way to play it. But don't hold it for long.
They made about $0.75/sh most recent past qtr and that easily covers their lowered $0.45/sh qtrly dividend (of which I have collected twice so far). Now it plummets from over $15/sh to $11.75/sh on no news and falling volume past five days. I'll have to wait a couple years for the global economy to turn upward, but I'll get paid over 13% at my dollar cost average cost basis each year while I wait.
Man, you gotta have patience with TAL and other shippers. Of course it is tough going now around the globe. But you are getting paid well over 10% dividend while you wait. Look at the stock price of TAL back at 2008. It was terrible. But then look what it did during global prosperity. Now is the time to buy, not sell. It is a rare chance to buy low, get paid 10% dividend to hold, then later sell high. I'm holding TAL and NAT and won't sweat it (as long as I get the 10% dividend) during all this bad global news.
Saw the Fortune Magazine artcle of March 6th. Bondholders will get somethings, shareholders will get very little. What a mismanaged business gem, yet no one will go to jail.
The Dec 2015 balance sheet only shows about $11 billion in liabilities. Granted the share holder equity is only about $1 billion which makes the LT debt/shareholder equity ratio terrible at 11, at least it is not 20 !
I'm short CZR too. But where did you find info about the independent reviewer? I did a search and did not come up with anything. Fraud is a big accusation. Yet they issued a gambling license to the head of CZR recently. Maybe he is positioning self for separate venture.