"it deserves to be included within those 60 high.growth comanies [sic]..."
Only if they bring a stripper...
You thought that buying at $11 was a great idea because it was earlier marked down from $15 and you never bothered to look inside the package to find that someone took all the gum sticks and you only have the paper wrappers left..
You will get the cash all at once. "When" depends on when the deal closes but assuming there are no complications, that will occur shortly after the Aug 6 vote. The two managers in question, CFO & GC, cut a specific amount deal that is spelled out in detail in the agreement that is part of the proxy exhibits. CFO gets $1.4 mil and the CGF something just short of that.
AFSI issued an 8-K disclosing that it is providing for $250 million of financing for ACP and another operation, and included language that it is allowing for further deterioration of SinkHole's financial condition in its forward thinking, reiterating that it agreed to a merger as detailed in January and April. Thus the pop in the stock price over the past two days. Surprised that ASFI thinks this is such an incredible deal that it cannot or should not squeeze SinkHole's privates some more.
Ah, well...some of my more creative invective has fallen victim of the Yahoo robo-censor. Was really surprised that my comment about Backwoods-Boo-Fay's cousin made it through. Legal question for Boo-Fay (he's a double Who, you know?): If you and your wife get divorced, are you still cousins?
Amazing! I know some of the people at Tocqueville, and have for years. They won't be happy when this is over.
You would figure by now that I do not own, have never owned, nor would I ever think of owning SinkHole shares. Therefore, I do not, nor would I, have the opportunity to vote for or against anything the company proposes. I simply stated how I would be inclined to vote IF the occasion arose.
Well actually the agreement tells you all that, guy. Remember the first amendment to the deal? All it did was add the discussion about how the CFO and General Counsel had been negotiating for a big bonus if and when the deal closes. All of these discussions were going on while investors, the SEC and the regulators were awaiting the delayed financial reports including the year-end numbers (10-K) and the first quarter's results. Who cares where the money is coming from? It belongs to the shareholders.
Given how badly management has performed over the past year, including the CFO, I would have gladly voted "No!" on #2, the authorization for bonus compensation for certain memebers of mgt. The CFO and general counsel will each walk away with over one million of your dollars.
I read Boo-Fays-Proct-Ologist's article on TSLA and I can agree he has a valid point. But he gets there for all of the wrong reasons. Most of the 125 comments he cites are from a very small number of respondents, some posting multiples and multiples of times. And of course he rudely dismisses those that disagree with his conclusion.
His conclusion lacks the rigor of good research. Instead he seems to believe that all stocks will revert to the mean (his interpretation of his hero's description of "intrinsic value"), and in so doing ignores changes in economic fundamentals that may be having an impact either on actual earnings performance or investors' perceptions of future growth prospects. That is consistent with his view on the SinkHole in which he ignores completely the company's rapidly deteriorating finances and the potential that those controlling ACP and its related entities will actually do something fiscally responsible for their stakeholders.
He draws nice pictures and charts and compiles tables that foot and tie, but he does not seem to understand what he is looking at.
On a separate issue, the point has been made that ACP's immediate owner is the Karfarkle Trust, which is true. However, the trust and its trustees and ACP's Board of Directors have a fiduciary duty to other stakeholders including existing clients that do not wish to have their reinsurer's balance sheet (and therefore claims paying ability) weakened by the acquisition of a property of such questionable finances as the SinkHole.
Zacks does not think. It uses the simplest of black-box formulas, basing its ratings on forward earnings estimates from Street analysts. It is an okay indicator (but not the only one you should use) when you are looking at a fairly stable and well-followed company. The model falls apart when you are talking about a failing company that is followed by only one analyst -- the SinkHole story.
At one time, Zacks used to provide a really good service to the Street by compiling earnings estimates from the various analysts and then calculating the consensus figure. But other outlets can do this so Zacks is trying to remain relevant by coming up with a way to use the estimate data. By all appearances, a high school sophomore adds the words to fill out the ratings indications.
Why should anyone read anything that you have written about anything? You have demonstrated here that you know next to nothing. So you have 125 comments. That is as good as having 750 friends -- on Facebook. All it proves is that there might be 125 people with less wit about them than even you. Hard to believe.
I'm not a fan of either Zacks or Seeking Alfalfa. Zacks tends to come in quite late, well after the news has been fully digested by the market and reflected in the stock price. SA is a blog for amateurs and guys that want to think they are pros, as evidenced by the plethora of anonymous contributors, including You-Know-Who. What I find hilarious is that Boo-Fay's contribution on the SinkHole has been deemed by SA to be a "Pro" article that one has to pay for. What a hoot (or should I ask, "what a double-Hoot?").
aj, I think you should read the correspondence again, more carefully, and read the amended agreement. Tower demanded ACP deliver its agreement that an "insolvency event" had NOT occurred and that it state its intention to complete the transaction. ACP's response that you cite said nothing about an agreement regarding its earlier verbally expressed concerns about and insolvency event, and its statement regarding its intentions to complete the deal with the proviso that it " reserves all its rights under the Merger Agreement, with respect to the matters referenced in your letter or otherwise." The agreement is tight but does include some "outs" for ACP should the SinkHole falter on a number of issues and there remains the question of a final price if the deal does get completed.