If it's not for the purchase of the bonds, then they better have a damn good explanation.
Yeah...let the Saudi's fend for themselves. Like paving the way for the #1 country sponsoring terrorism to have the bomb. Brilliant move.
Shhhh. Don't spin his head around with actual facts like that. You'll ruin the smoke and mirror show of their Bizarro World reality.....
Dubya far worse??? Hey the guy was no Ace, but to make that statement is sheer ignorance. Let's see, Obama has given us Obamacare, which penalizes the working class with insurance policies with $10k deductibles and sky high co-pays in order to provide insurance for the lower class; the vast majority on welfare. Speaking of; during his watch EBT card enrolled have doubled. Don't forget Obamacare also has employers keeping people under 30 hours so they don't have to provide company insurance; which skews the actual employment numbers....but no one talks about it. Then there's his fantastic illegal immigration policies....or rather lack of enforcement of policies already on the books; providing incentive for more and more illegals to come over and clog up our schools and medical facilities; again on our dime. Then there's his terrific foreign diplomacy; hopping in bed with Iran and crushing our long relationships with our real allies in the Middle East. And last but not least; he and Holder have done a fantastic job of inciting racial division; thus destroying 50 years of progress in race relations. Oh yeah....he's done a GREAT job.
Even for an Obama Basher like me, that's a reach. I'm much more inclined that it's gross ignorance coupled with a no-reality ideology that has earned him Worst President EVER. And before you throw out the race card, I would have walked 20 miles to the voting booth to vote for Colin Powell. I'd do the same for Ben Carson. It's not about race; it's about a President that has put our country in deep peril with his horrible decisions.
If you dare disagree with the warped ideology of the left, in their mind you are a fool, racist, hate mongering war mongering capitalist pig.
If they do that they'd need to leave the country and change their identities. Screw big time investment mafioso players with a 11.70 secondary, turn around and cut the distribution on them, then screw them to the hilt with a buyout at $5?? There ain't no place on the planet they could hide. Tony Soprano and the crew will find them.
Bonds are pricing in 90% chance of bankruptcy. If LINE is buying back bonds you'd think the bid would start to rise. I'm not seeing that at all.
Lol fair enough! It's my calculated guess that there are quite a number of traders that have bought the pop from $2 and after exdiv will dump. Could I be wrong. Very possible! As far as the Saudi's; I think their commitment to this killing spree is unquestionably 200%. They have come too far now to cut and run. This whole put-US-production-out-of-business is a fight for their longer term survival. They can blow through their reserves if that is a means to an end of being the undisputed King of supply and gaining absolute control over pricing. Once the Saudi's have killed off most of their competition, they will jack the price to all-new highs. US bankers will be way way to gunshy to lend to anyone trying to resurrect their US oil business; knowing full well the Saudi's can flip the switch ANY TIME THEY WISH. As far as me being crazy....well no sh@t sherlock! Everyone knows that!
45 years has my respect. I'd be interested in hearing from your take on this supposed "glut" we're experiencing. By my calculations, demand for oil still outpaces supply easily two years out; sooner if more players start dying off.
They aren't buying back the bonds; nor is that their primary concern. Milking this cow to keep their fat salaries intact for as long as possible is all they're concerned with.
And it's INEXCUSABLE that they don't do this. They could EASILY put 10 million towards a tiny effort of support for the shareholders. The fact that they won't shows just how little they care. Couple that with Lee's miserable presentation (unless you're short) and something really is suspicious with this whole debacle. Stilley et al can't obviously be short their own stock without landing in prison, but how about the management at NE? Are they prevented from shorting their spinoff? If not, whats to prevent NE management from having a back door deal with Stilley and his cronies on shorting the company into insolvency, forcing bond holders to take a huge huge hit then turning back around and acquiring the company back?? And if not NE then perhaps the bond holders of NE debt to sweeten their own mess? Crazy conspiracy theories....but this is too messed up for any logical reasoning. No management team on the planet with the earnings this company has produced thus far in 2015 would let their shares/market cap trade for 2 weeks of earnings. They should be thrown out for such gross negligence.
The guy is clearly clueless and has no idea how to conduct investor relations. Shorts on the other hand absolutely love him as he is money on the bank for the short thesis.
Folks aren't waiting around to grab the last twelve cent distribution. The selling will intensity massively after that final distribution and most likely send the units/stock to $1. Hyped story about Saudi's cracking on output was a sham; Saudi's will NOT cut production until they blow through all $680 billion of their reserves.
Presentation offers a further stark and gloomy forecast. To me they are preparing everyone for insolvency and eventual bankruptcy. Yes I know their debt isn't an issue till 2019, but clearly something is seriously wrong with management's ability to run this company and/or relate to their shareholders.
It does appear that very well could happen. Dangerous play if management decides to screw everyone.
The schizophrenia of the oil market is at a level never seen before. Basically no one knows where oil is headed for the near term. Long term it will soar, but who will still be around when the tide changes? We are in uncharted waters.