Yep, you heard it here first. Apple with cut its dividend before year 2100 - sell now! In fact APPLE will file BK soon thereafter. Price target $0.
Don't believe me... just you wait and see.
Prove me wrong... I dare you!
While sure I can't be proven right... you the reader prove me wrong!
Now repeat the quote.
OMG - these people are nuts.
Yes an MLP is a K-1 investor taxed vehicle. But, no way are the "investors" going to be allocated and taxed on "debt" restructuring if they file BK - Why? Because of the at risk rules. The "gain" would be equal to the write off and the loss - would then be equal to their new adjusted basis. Thus, your carrying value will negate. We are also, cash basis tax payers.
This is so nutso.
My belief is while a restructuring not leading to BK may be a taxable event - a BK is not a taxable event - because the underlying value of shares would be $0.
The question is... is it better to own something of value or of no value.
I take the value and thus the event.
Silly stock pundents
Homer... hoops and ima are correct. Its an average thing over the period being reported upon. Look at the Balance sheet where it discloses ... actual shares issued and outstanding as of the balance sheet date.
Keep in mind they are an Ireland based entity with a corp tax rate of 12% or so...
All in and on average.... its really not an awful lot if you have to move some depr / amort around on a year to year basis...
Hard to get fired up about it as Ireland tax rates are 25% of US composite average (fed/state).
What's a few million... here or there .... really. Ultimately, its just a timing difference regardless.
Could have something to do with sale - leaseback accounting standards on the planes that are being purchased from manufacturers and then immediately leased. That either 1. Its a sale since substantially all of the useful life is leased.... or that there should be defferral of gains over the lease period. As opposed to immediate recognition. Would have to look through the summary of significant accounting principles in the 10-k or equivalent and compare that to AER and others. Chances are others are doing it similarly and that FLY has always done it what ever way they are doing it and that their accountants "signed" off on it.
Could effect presentation, but not CASH - so - since FLY and others do not trade as multiples of EPS - just look at AER that is at what 5x PE? - but rather as a cash attribute - its really should be a non - event. Sure, its a head ache but should not be too killer.
If at a minimum every "document" is 2 pages in length on average... 11K docs is 22K pages. 22K Pages is 44 reams of paper ... 44 reams of paper is 4.4boxes of paper. That's HUGE.
Think of it... An awful lot can get lost in 22,000 pages of paper. An awful lot.
Brother... a PE ratio of 17 is a bit lofty.... In this scenario; my expectation is a PE of around 12.5
Either way - its fine... but want to moderate my own vision.
The cash settlement of this on a per share basis allocated over the 8 year holding period should be around $20 a share. Considering I've held shares on and off during this period on average - my figuring is i should recoup around $8 to $12 a share in one time settlement. Yes, the true settlement / damages on a per share basis potential - figuring the RICO statutes is very large - it just won't happen.
My thinking is the PWC / Deloitte and as well suing the "private" law firms that led them to approve the disclosures in SEC filings (as suggested elsewhere) will tip the scales on this and will force resolution.
Its going to take an awful lot to "walk" this back.
The economic damages here are probably close to $1 Trillion (all in)
The loss politically to our Country is far worse.
And for what greed?
Looking at the financial statements - these folks are small small. They really shouldn't be a public company. Growth potential - with the business model they have is zilch. Unless they've created a new secret sauce to waste disposal - like some microb that eats waste; that recycles, creates energy and saves space.
This is a no.
Revenue at $480K a quarter is nothing exciting.
Listen, I get it - they are probably good people here but as an investment ....
Couple of things if you read it.
1. It clearly states that state law carries the day and they entity is subject to it. -
2. It indicates that the motion was due to statute of limitations
3. It incorrectly calls FHFA as a "receiver" when they are a "Conservator".
There are others.
But, this is by no means a bad thing.
Ya know - this judge is full of double talk.
That's like saying... lady - i get it your pregnant and for the purposes of getting free materninty coverage you get it - but you can also have free drinks too. Cause for the purposes of maternity care - you are pregnant and for the purposes of it being ladies night - well you qualify for that too.
Wow, I see you signed that contract - did you seek legal counsel Mr. Attorney? No. For the purposes of that document I did not. Aren't you an attorney? Well sure. But at the time I signed the contract; well I wasn't acting as an attorney? Oh, so you can pick and chose when you turn it off? How do people know when you are acting as an attorney or not?
Women was directing traffic at school. She was hired by the private school to help abate traffic. Some other lady - who had to pee - parked her car and went to take care of her problem. When the lady got out she was arrested by the traffic person for "disobeying" a lawful order?
So, was the private school paying a citizen to direct traffic or a cop? Which are they? Why is a cop always a cop and the GSE's either one or the other ?
See... if Mel Brooks (watt) got into a fight at a bar. The other person would be arrested for hitting a public servant.... But, what if he were at a ball game with his kid? As a dad? Same crime? See, its either yes or no, not both.
I think either you are or you aren't you are never both - and you can't pick and choose and be all willy nilly.
This "Win" for FHFA and not having to pay out the FCA $$ should have ruinous affects on the other pending litigation as this wowfully undermines the other positions and defines the GSE's as "Private" companies. Thus most of the picking and choosing the defense du jor by the federal government will be stopped.
Its going to be very interesting to see how the government later spins these findings. Its really the affect of undermining the decision in Lambreadth 15 months ago.