Thanks hobo. Be nice to see some of that returned to shareholders directly.
seems too good to be true.
Well as you know they have certainly taken care of the buybacks so given the fact that the divvy increase is so paltry, unless they plan on using the proceeds from dow corning sale for another aquisition, it makes sense to enhance the dividend as a one time distribution. Obviously, like the rest of us on this board, I am speculating.
the buyback vs dividend allocation was decided, the proceeds from the sale of the dow corning piece must have been in the plan. I believe the conservative dividend increase proposed will be enhanced by a special dividend from the dow corning sale.
Selling the dow corning stake should move the needle. I have seen some valuations as high as 1.5 dow earnings for the Corning share. If that became reality it would be huge.
beginning. As the judge said I know you are losing money now but what do you project for the future? That will determine the ability of gtatq to meet its debt obligations as well as the sustainability of current equity.
Could be. Samsung sold its glass substrate business to Corning its supplier of smartphone covers but is still looking to separate itself from Apple. When Apple failed to put sapphire on the I phone 6, which Samsung was worried about, they saw an opening. They may be interested in buying the equipment and creating a sapphire production subsidiary.
any potential value to current shares, at least enough to warrant an official equity committee. If Judge Boroff denies an official committee then the Debbie Downers on this board will be vindicated.
and negativity, and reports from GTATQ lawyers will highlight the money that the company is currently losing. The day trader stuff is normal but the company reports are designed to influence the judge to kill the idea of an equity committee. In the end the equity committee may not happen, but Judge Boroff understands the game. Last week he told GTATQ lawyers "I know you are losing money now but what is the potential for future profit." The answer to that will determine the ruling on the equity committee.
GTATQ lawyers continue to lose the confidence of the judge. First the bonuses and now collusion in the sale of Hyperion. Not sure what this means going forward but if there are assets, it is helpful to have someone looking after our interest.
The judge used the word insensitive to current stockholders to the gtat lawyers when they asked for bonuses for the executives instead of stock because the stock had little value. Whether or not they uncover other assets the judge saw the bonus request as an arrogant over reach and decided to let the adhoc committee get a win to at least open the file.
later with an additional $95 million in DIP financing we are still "restructuring." Guess this is a new definition of "restructuring." We can't pay our debts so we acquire more debt in order to survive and keep a business that can't pay its debts operating in order to hopefully acquire more financing so that we can keep a business that can't pay its debts operating. If you accept that negative analysis of GTAT, one has to wonder why anyone would give them $95 million in DIP financing. Do the creditors know something we don't about the future of GTAT?