I would like to know that too. Earlier today I posted a question asking if NAT moves oil or gas 'FROM" the USA ?
No one has answered yet.
Maybe they don't know.
I could try to get through to Investor Relations to ask, but since the CEO doesn't seem to tell the truth on Mad Money, I wouldn't expect honesty from anyone in the company.
Years ago Cramer was saying to buy this when it was almost $24, and continued to call it a buy well into the low teens.
Cramer ate up all of the bologny that the NAT CEO served up each tme hey was on Mad money.
I don't know who the bigger clown is, Cramer or NAT's CEO ?
I see no hope. I bought a lot of shares after the CEO was interviewed by Jim Cramer several years ago.
That was before I knew what a BS'er Cramer is. Now I know to use his BS to do research, and I usually make money by going against his recommendations.
The PPS back when I bought was around $23.48, and as the SP continued to sink, every time the CEO came on Mad Money he would bloviate about how rates will be going up, and he is buying another ship, and yada, yada, yada.
Each time he came on I wondered how he can claim that it is good for his company to buy another ship and to have a larger fleet, when we knew that an excess of ships was one reason why shipping rates were depressed?
After this many years of losses for the tanker companies, I just don't see a recovery- ever!
I had to sell my NAT shares in my taxable account last year or in 2011 at a huge loss.
Since I don't see a decent recovery in the SP, I'm thinking of selling my shares in my IRA at a loss of $77,000.
To bad I can't write off a loss in an IRA.
I'll never make back those losses, and I should have done my own DD as I do now.
I will never believe Cramer or the CEO of NAT again!
I do wonder if the US starts exporting more oil, gas, and LNG, will NAT be shipping any of that?
Since they need to keep LNG refrigerated, I would guess that they could not ship it.
Does anyone know anything about NAT shipping "from" the USA?
Mr. Dog, Daisy and other board members,
Is it your opinion that this paultry $50 million is NOT going to the bondholders?
That is the way I'm reading it.
It seems that this settlement is explained in the following paragraph that was in the article:
"GM will make the $50 million payment to a trust representing the former Nova Scotia unit. The hedge funds agreed to cut their claims against Old GM to around $1.54 billion from around $2.67 billion. Reducing their claim potentially increases the amount available for other creditors."
So if I'm understanding it correctly, the hedge fund agreed to reduce their claims by over a billion dollars in exchange of this 50 million, which I'm not sure of the reasoning behind it.
So here are a few questions for you folks to ponder:
1) The bondholders are NOT a recipient party for part of the 50 million dollars, right?
2) Are the bondholder's claims still being proccessed?
3) Are they implying that it is "possible" that the claim reduction of over a billion dollars "potentially" increases the amount available for other creditors?
4) Are the bondholders one of the creditors that "may" share in that billion dollar "potential" increase?
It seems that at some point the MTLQU units are no longer needed for distributions, so they would be exchanged for New GM Common and warrants, wouldn't you agree.
The question is when will all potential distributions via MTLQU be exhausted?
Are you thinking that the distribution late this year or early 2014 isn't the final one that is possible?
Also, do you still hold all of your New GM shares and warrants?
It is a distribution of what?
Cash, new shares, more units of MTLQU or ???
Do you think that they will issue information as to what the distribution means to holders of MTLQU units, and what, if any rights to remaining funds or disputes we may or may not have?
If I knew how to check your calculations I would do it.
One more question,
After the distribution and any conversion of the MTLQU units to whatever you say they will be converted to, if it is doubtful that we will receive anything new by holding them, there would be no down side to selling them, right?
If the $15 value is in addition to the current trading price of MTLQU, what happens with the MTLQU units after the new distribution?
Does it convert to New GM shares, warrants, cash, credit towards the purchase of a new GM vehicle? (kidding)
Thanks Again !
Thanks for the post, but I have questions about what you wrote:
1) Are you stating that New GM shares worth aprox. $15 will be issued for each MTLQU unit we have?
2) Is that $15 in addition to the current value of the MTLQU units, or is that the new value?
3) After the distribution, are all claims from former bondholders complete, or are there still parts of other pending claims that we may receive?
Thank you - again !
How does this enhance the value of our MTLQU shares?
What still reamins to be done?
I have only had 6.5 hours sleep the past two days, so please excuse me if I am not seeing something that you people feel is obvious.
Sentiment: Strong Buy
Anyone that used to frequent the website that I think was Silicon Investor would remember the King of pump posters for FGT, Mr. Wong.
He was very wrong !
FGT didn't go up. it went from mining, to a share in an offf shore Scottish oil driller, to bust.
Shore Gold CEO Ken McNeill and the other useless officers of this company looks to be keeping SGF going long enough to milk a living out of it, but how long does a sick animal suffer before it is put down?
Boy, do I wish I had sold SGF when it was at $8 !
This is only the second Canadian stock I have ever invested in.
The first went out of business, and SGF looks like it is barely running.
I'll NEVER invest in another Canadian or Chinese company (scam) !