I bet he does time for this:
This Is How Politicians Get Rich
Meet a modern-day gangster
If you’re like me, you’ve often wondered: How do so many politicians strike it rich when they only make a salary?
Well, a seasoned politician in Montana has provided the answer.
Aspiring Democratic presidential candidate and former Governor Brian Schweitzer is showing us exactly how to get rich without breaking a sweat.
While in office, Schweitzer apparently saw promise in the mining business… and he decided to join the fun. Soon after leaving the Governor’s mansion, he targeted Montana’s largest mining company, Stillwater Mining Company (SWC), which produces palladium and platinum.
Schweitzer launched a massive propaganda campaign against Stillwater, claiming mismanagement by the Stillwater Board of Directors and, specifically, their longtime CEO, Frank McAllister. Schweitzer teamed up with a New York hedge fund, the Clinton Group, and – through public denouncements and intimidation – forced the Board of Directors to fire McAllister.
By then, Schweitzer was unemployed, and he became part-time Chairman of the Board of Stillwater. He was paid a salary of $188,000, but that was only the beginning of the booty.
Schweitzer now owns 39,703 shares of Stillwater Mining that, at Tuesday’s closing price of $16.71, are worth around $663,437. Not a bad haul for someone who’d never run a mining company, and has zero experience or training in geology, metallurgy, or mining engineering – three disciplines crucial to running a successful mining company.
from Don Willis:
This was a heck of a show. It was a whirlwind of activity for me as the show was not only sold out but PCGS invited a couple dozen of the top coin dealers and auctioneers in China to attend. I was so busy I didn't get a chance to say hello to many of the people that I usually do.
Attendance set records on both Thursday and Friday. Most dealers I spoke with were very pleased. There was a nice buzz in the air for most of the show. Even Saturday was busy.
The US Mint sold much more than they expected. I believe they sold out of all the coins they had held for the show. Pawn Stars had people waiting for hours to audition for their show. I got outbid on all my lots in the Heritage sale....
Contrary to some idle speculation, every table was sold and there was a waiting list! People were complaining that there weren't as many tables to eat their lunch! Many of the dealers who abandoned Long Beach a couple years ago are trying to get back in and are fighting for good table locations.
Expos is a separate division of Collectors Universe. It is not the PCGS show (ours is in Vegas). In my opinion the Expo team has done a great job of rejuvenating the show after a few years of neglect.
Hope you were there and enjoyed it.
actually, this deal cuts his chances of a nomination. Being anti-business will not get him elected to anthing
wouldn't it be funny if these guys were pushing the stock down every day since end of March and negotiated a deal with Jagid at the low point?
about 1.2M shares traded since end of March. Share price was $5.68 then. How could these guys pick up 700K of 1200K shares and have the price down almost $2? Had to be a private transaction. Jagid may be gone folks.
709,000 shares of Common Stock
Emancipation Capital is a long/short equity fund that employs fundamental analysis to identify deep value opportunities within the technology sector. The fund emphasizes business models that have large recurring revenue streams such as Enterprise Software, IT Services and BPO, and assumes an activist posture where appropriate to generate alpha. The Fund Manager looks for catalysts, or may seek to be the catalyst to unlock value that the market is not recognizing.
Jagid must have sold some to these guys. Could have even been a private transaction. These guys were not a holder at end of March. I don't think that many shares even traded from end of March to now.
what a joke Avis and Hertz are. The debt of the companies is MORE than the market cap. Who invests in junk like that? Oh yeah, pediophiles
thought the same thing but then I come back to 2 things:
- 675K shorts
- Russell Index rebalance and 700K+ shares needing to be bought (Russell announces additions/deletions next Friday)
Everyone is reporting the busiest June Long Beach show ever. Typically things starts to slow down now but this show is going gang busters. The have the Pawn Stars people there, many dealers form China, and the US Mint is offering the much desired Baseball coins for sale.
And I'm talking like announcing a $100M suit. Something that would get credit agencies to lower their rating.
CLCT issues lifetime warranties on the products they certify. If they say the grade is X, and it is determined later that it should have been X-1, they will pay you the price difference.
should spur economic growth but be bad for their $20B in float they hold. If ADP has to start PAYING to hold customer funds, that would be negative.
But they pay a solid dividend which should be good. This is all hard to figure out.
still strong into June. warranty costs are running way down, about $10K in last 30 days and 1 year is now at $400k. Coin and card certs still running about 10% ahead of last year
dividend paying stocks typically do well in a low interest rate environment. The utilities are leading the market this year. Now rates are negative in Europe. uncharted territory. Anyone know what good dividend paying stocks do in negative rates? I would think go higher still