"On RVP’s request for lost profit, Judge Davis denied RVP’s request for an additional $260.7m in the form of wrongful profits earned by BD through false advertising. But he did so because he believed that the trebled antitrust award was a sufficient monetary sanction to BD, even though he agreed with RVP that BD’s conduct warranted disgorgement of its profits: “Here, the principles of equity require BD to forfeit a portion of its profits. However, BD has already done so by paying the trebled amount of its antitrust damages. The $340,524,042 BD must pay is a sufficient monetary sanction in this case.” Judge Davis’ confirmation of the trebling of damages should be interpreted positively, clarifying that trebling is mandatory for the $113m jury award, “RTI’s relief—trebled damages and an injunction—is adequate for its injury,” and that RVP deserves meaningful monetary relief for its claims."
This is important to keep in mind. I interpret it to mean, that, if for some reason the treble damages are denied on appeal, then $260M in lost profits is back in play (plus the $113M jury award would likely stay in force regardless). BD is just killing time, which is understandable.
They can't drag this out for long if they want a good chance with regulator approval. It's now or never, and I think they realize that. But who knows.
It would be interesting to speculate on the appreciation and market value of the multi family properties in RAS and IRT. I assume that most of their markets have not appreciated like the coast markets have, but I also assume they HAVE appreciated reasonably or better. And they are probably not bubbles waiting to pop like some markets. I'm in Utah where apartments are going up by the thousands, which would make me nervous to be betting on.
I'm guessing the hope is that the GPT management can take CSG, which really hasn't done much for years, and make it into something. It will take years however.
Just down 6 months of dividends per day.
Clearly somebody knows something that we have not been privileged to participate in. But you would sure think that most of those apartments are worth more than they paid at this point.
All the REITs are getting slammed every day. I plan to buy most of the country when they hit zero. Won't be long at this rate.
I believe Q2 will be week because of temporary shut downs. The report will probably disappoint. If so, I think it will be a good time to get brave.
There was a very big sell at the close. 444k.
I'm still not seeing anything that says IRT will issue more shares if the SP goes down. I see that IRT has the option to issue more cash and fewer shares, but that would be extremely foolish at this point. Right now TSRE and IRT are about at equity since according to the deal, TSRE shareholders yet .4108 shares of IRT @7.85 + $3.80 = $7.02.
This is the possible adjustment I am seeing in the PR:
IRT has the option to increase the cash portion of the consideration from $3.80 per share of Trade Street common stock up to $4.56 per share of Trade Street common stock with a corresponding decrease in the stock portion of the merger consideration as provided for under the terms of the merger agreement, in which case the exchange ratio will be adjusted to reflect the new consideration mix.
You can get to the IRT message board by going to http://finance.yahoo.com/mb/irt/
You just will be alone. If a few of us contact YHOO about it, maybe they will turn the link back on.
There is no rhyme or reason behind yahoo's message boards. Sometimes they are available, sometimes not. You would think with 13k employees, they could do stuff.
It would make most sense for RAS to sell the whole business to a high bond rated company that can come in and replace the debt and preferreds at much lower rates. That would instantly make the whole operation much more profitable.