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Joy Global, Inc. Message Board

js291955 126 posts  |  Last Activity: Aug 27, 2015 4:09 AM Member since: May 31, 2009
  • js291955 js291955 Aug 27, 2015 4:09 AM Flag

    Maybe the best thing to come out of this settlement conference September 2016 date is that we'll hear nothing much about the SEC's case against Modany and Fitzpatrick for AT LEAST A YEAR. No need to worry about any SURPRISE bad news from the SEC.

  • js291955 js291955 Aug 25, 2015 8:24 AM Flag

    The SEC doesn't want Modany and Fitzpatrick to go to prison. They just want them to reimburse shareholders for not giving shareholders correct financial info. Hopefully, Modany and Fitzpatrick will reimburse ITT at least $20 million. That would increase ITT's cash position by $1/share.

  • "California Abandons Unlawful Attempt To Suspend ITT Technical Institute"

    Can ITT sue for damages? Or can States just do whatever the hell they like?

  • js291955 js291955 Aug 25, 2015 3:54 AM Flag

    This could be very positive news for ESI stock. The SEC is only going after Modany and Fitzpatrick. Any money the SEC gets from them goes back to ESI. Remember that the SEC sued on behalf of shareholders. I'd like to see the SEC fine Modany and Fitzpatrick $20 million. That would put $20 million more into ESI cash position. I agree with illini. The SEC holds the cards and ESI will benefit. Maybe the SEC will fine them $40 million ... but

    The settlement amount is more likely in the $15 to $20 million range.

  • js291955 js291955 Aug 22, 2015 8:16 PM Flag

    I think what you are saying is that when the market crashes, some people who are short ESI and are also long other stocks on margin, get margin calls on their long positions. Then they have to (or choose to) buy back their ESI short position in order to reduce their overall margin percentage exposure. They choose to use their cash to buy back their ESI short because they don't see it going down more anytime soon. They then hope their long positions recover.

    In essence, they see their long positions recovering before ESI goes down more.

    Thus, more market decline will benefit ESI.

  • SYNA closes EXACTLY at $70.00 on August options expiration day!
    On a day when the day dropped 500 points!

  • The most obvious reason is that shorts are beginning to realize that they aren't going to make much more money on ESI and are looking to cash in on a crashing market. Why keep dead short money in ESI when every other stock is going down?

    The other reason is that shorts are beginning to realize that $3.00/share is an absolute bottom for ESI and too many buyers will buy under $3. ESI is obviously not going out of business and the idiots and political hacks at the DOE have decided to delay any new regulations on for-profits until the election In November, 2016. Even the bozos at the CFPB are so slow to do anything at all that they have become irrelevant.

    The other thing bothering the shorts is that if the economy slows and hiring slows down OR if the Fed raises interest rates too soon and melts down the economy, there will be more unemployed headed back to school. There just aren't that many more future negative events that would push ESI significantly below $3.

    ESI is paying down debt, generating cash, rebalancing supply and demand, and can look forward to a $90 million payment from the DOE in 2019 (or earlier if we get a Republican President). The Republican Senate and House of Representatives (otherwise known as HORs) all despise Obama's war on for-profits and in 2016, Obama's war will end.

  • js291955 js291955 Aug 20, 2015 7:26 AM Flag

    I think the reason the DOE decided to finalize it's debt relief plans by November 2016 is because November 2016 is presidential election month. If the Republicans win the presidency, the DOE knows that the Republicans will trash any plans the DOE has made. The Republicans will also get rid of all DOE management and replace them with business friendly political hacks. If the Democrats win the Presidency, the DOE will have the go ahead to start their persecution of for profits and any other schools they deem unworthy of Federal funds.

    So, the long wait to November 2016 begins.

  • Reply to

    More Juicy Dirt on ITT..

    by luke.2012 Aug 18, 2015 6:15 PM
    js291955 js291955 Aug 20, 2015 4:19 AM Flag

    It may be a "Neutralization Technique" but it works well. If fact, it takes very little to neutralize anything qsf says. Usually not worth the time.

  • Reply to

    More Juicy Dirt on ITT..

    by luke.2012 Aug 18, 2015 6:15 PM
    js291955 js291955 Aug 20, 2015 4:14 AM Flag

    Looks like it will soon be $80 Billion.
    You also have to maintain a 2.5 GPA. Deadbeats will not get a free education.

    "President Obama’s plan to offer tuition-free community college would cost taxpayers $80 billion over the next decade, the White House said in advance of Obama rolling out his program Friday.

    The federal government would pay $60 billion, while the states would pay $20 billion.

    "That is a significant investment, but it's one the president believes is worthwhile because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy,” said White House spokesman Eric Schultz.

    The White House originally refused to say how much the program would cost, but under repeated questioning, told reporters Friday it would cost the federal government $60 billion. That number covers only the federal share of the program, not what states would have to pay for students to attend community college who maintain a 2.5 grade point average."

  • js291955 js291955 Aug 19, 2015 7:23 PM Flag

    Here's what most people think:

    "So, Corinthian defrauded these students, and it is we taxpayers who foot the bill? Claw back money from the Corinthian execs and Board, and share it those injured. These students made a personal financial decision. That is their problem, not mine."

    John Lieto
    at 3:50 PM August 19, 2015

  • From the LA Times:

    "Following the collapse of Corinthian Colleges Inc. this spring, the U.S. Department of Education is crafting new regulations to help students seek debt relief and better hold colleges accountable for wrongdoing..

    A final regulation is not expected until November 2016, and the department offered few specifics Wednesday. U.S. Under Secretary of Education Ted Mitchell said the rules will complement an initiative already underway that allows potentially hundreds of thousands of former Corinthian students to apply for federal student-loan forgiveness."

  • "And I would also point out that the first set of so-called gainful employment measures are not scheduled to be published until January 2017 and then any consequence of that, if there is any, wouldn't be until January of 2018. And so the bottom line is we've got time and we've got options, and we're in the process of analyzing all those options and we'll keep you posted."

  • Bridgepoint Education (BPI -4.4%) discloses it received a request for information from the CFPB.
    The probe centers on deceptive marketing practices of private student loans.

  • Spoooofing.

    A lonely guy. Despised by all. Sitting in his one room apartment. All alone. Depressed.
    "Oh God, I hate myself more than I hate Modany" he moans. "I need to have a reason to live", he cries.
    There's no other option, he thinks. It's time to spoof. Maybe more than once if he's up to it.

    "Spoofing, sometimes called "layering," is a form of market manipulation where you pretend you want to sell a lot of stock, and everyone's all, "Oh in that case I want to sell a lot of stock too," and the stock goes down, and you actually buy a bit of stock instead, and you wait like a second and then pretend you now want to buy a lot of stock, and everyone's all, "Oh well, now I want to buy a lot of stock too," and the stock goes up, and you actually sell back the stock you bought, and you make some money because people are sheep."

    "That's why I spoof", he thought. People are sheep. And I like spoofing the sheep!

  • Buy back a few million shares at $3/share.
    Do it slowly so they don't jack up the price too much. Say 50,000 shares/day.
    They are currently authorized to buy back 7 million shares so it's just a matter of doing it on the sly.
    Then announce that they've bought back a few million and watch the fun.

  • js291955 by js291955 Aug 10, 2015 8:35 AM Flag

    "•Trump says simplifying tax code would be one of his domestic priorities as president; “You can say fair tax, you can say flat tax, you can say 100 different taxes, or you can say simplification”
    •Says his tax documents “would literally probably be 10 feet high if I put them together, it is so complicated and so terrible”
    •Says other domestic priorities would be cutting costs of environmental and education agencies, creating incentives for inner-city investment and jobs"

    Trump will trash the Department of Education (as it should be trashed!)

  • "Laura Strong, a 29-year-old in suburban Chicago, owes $245,000 on student loans for the psychology Ph.D. she finished in 2013. This year, she says she hopes to earn $35,000 working part-time jobs as a therapist and yoga teacher—not enough to manage a loan payment of about $2,000 a month. But Strong isn’t paying anything close to that. She’s one of at least 3.8 million Americans who’ve qualified for federal programs that tie payments to income and eventually forgive debt for some struggling borrowers, leaving taxpayers to pick up the tab.

    President Obama has praised the programs for offering a lifeline to borrowers who’d otherwise default, scarring their credit. Strong pays about $100 a month on her federal loans, which she used to finance her graduate studies at Argosy University, a FOR-PROFIT institution. “I wouldn’t know how I would pay it back otherwise,” she says.

    Critics say the plans are a hidden subsidy to well-off students and colleges, which can justify tuition increases by reassuring students that they may not have to repay their debt."

    Looks like only the dummies are making big payments.

  • js291955 by js291955 Aug 3, 2015 10:54 AM Flag

    "Citigroup Inc., the third-largest U.S. bank by assets, is being investigated by the Consumer Financial Protection Bureau over its student-loan servicing practices, a person with direct knowledge of the matter said.

    Citigroup is cooperating with the probe, the New York-based firm said Monday in a filing that didn’t disclose which regulator was involved. That agency is the CFPB, said the person, who asked not to be identified discussing an ongoing investigation.

    The inquiry may result in penalties or having the bank offer restitution to customers, and echoes an enforcement action against at least one other institution, according to the filing, which didn’t name the other firm. Spokesmen for Citigroup and the CFPB declined to comment.

    Discover Financial Services disclosed a similar probe by the CFPB in February 2014 and last month agreed to refund $16 million to consumers and pay a $2.5 million penalty. The agency found the Riverwoods, Illinois-based firm overstated minimum amounts due on billing statements and denied consumers information needed to obtain income-tax benefits. Discover also engaged in illegal debt collection tactics, including calling consumers early in the morning and late at night, the CFPB said."

  • As well as his thoughts on the other 10 moving parts.

JOY
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