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Pfizer Inc. Message Board

koleffstephan 11 posts  |  Last Activity: Jun 10, 2014 4:56 PM Member since: Feb 4, 2005
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  • Reply to

    Class action

    by dguiney2001 Jun 10, 2014 4:41 PM
    koleffstephan koleffstephan Jun 10, 2014 4:56 PM Flag

    I certainly hope so!

  • Reply to

    Insider Purchases

    by schieboutz Jun 5, 2014 10:50 PM
    koleffstephan koleffstephan Jun 6, 2014 6:18 AM Flag

    schieboutz: No insider can purchase PSEC stock during this period of time that they are waiting for a decision from the SEC accounting. A few weeks ago, I called the Investor Relations Department of Prospect to express my opinion that if the insiders began purchasing their own company stock (PSEC) at these prices below NAV it would send a nice, favorable "message" to the investor community about management's confidence in the company and it's stock. The Investor Relations manager informed me that they were/are prohibited from purchasing any PSEC stock until an ultimate decision is made. Along those lines - if you listened or read the earnings call transcript - the company is also not issuing any more stock until an ultimate decision about the accounting is determined. Hope this helps.

  • Reply to

    There is more to the story

    by turfstarr Jun 4, 2014 10:50 AM
    koleffstephan koleffstephan Jun 4, 2014 11:33 AM Flag

    I think that "nervousness" is a legitimate adjective to describe an investor's perception of the PSEC accounting dispute. However, I don't believe that the reason for the nervousness should not be for reasons that the individual investor is concerned about accounting shenanigans or fraud. I think the nervousness should be because the investor is concerned about the shrinking stock price and therefore, PSEC' lack of ability in issuing shares accretive to earnings as well as it's lack of ability to issue more shares to generate income for further investments until the accounting issue gets resolved.

  • Reply to

    Why haven't insiders purchased recently?

    by eagles123 May 22, 2014 3:31 PM
    koleffstephan koleffstephan May 22, 2014 5:02 PM Flag

    Insiders are not allowed to purchase now because of their appeal to the accounting division of the SEC regarding PSEC's controlled investments. They are precluded from either buy or selling any of their shares at this time. That is directly from the Investor Relations Department of PSEC.

  • Reply to

    On balance

    by supranationalshanghai May 18, 2014 11:02 PM
    koleffstephan koleffstephan May 19, 2014 9:28 PM Flag

    rousehowse: If you purchase PSEC stock at this price, you will be receiving over 13% monthly dividend payout. Are not "those financial rewards" to quote your own words a very good start?

  • Reply to

    On balance

    by supranationalshanghai May 18, 2014 11:02 PM
    koleffstephan koleffstephan May 19, 2014 4:33 AM Flag

    supranationalshanghai: Yes, insiders are barred from purchasing or selling any shares right now during this period of "waiting" to hear back for a final determination from the accounting office of the SEC. I spoke to the Investor Relations Department of PSEC to ask the same question (about insiders purchasing) and that's what I was told. As far as the rationale for appealing the decision to restate, I believe that PSEC believes that is gives the portfolio companies and PSEC more legal/liability protection. I also believe that management reaps more financial rewards to have the accounting set up this way.

  • Reply to

    Yesterday's After Hours Bad News for PSEC...

    by johnsonjoel1 May 13, 2014 7:06 AM
    koleffstephan koleffstephan May 13, 2014 7:29 AM Flag

    I would think that the only reason the deal does not get done is because the SEC decides that Nicholas Financial cannot be a controlled investment in the way that PSEC wants to structure the deal from an accounting purpose. I would assume (I am not an accountant) that the way PSEC and NICK were going to structure the deal - from an accounting perspective - was going to be beneficial to both companies. Therefore, if the SEC compels PSEC to change the accounting methodology in the way they are going to purchase and subsequently "hold" NICK as a controlled investment, then both companies may walk away. However, I think that NICK wants to be purchased by PSEC and that NICK shareholders will vote to continue the acquisition agreement providing there is no material change in PSEC as a company.

  • Reply to

    This is hardly an endorsement for the CEO

    by g0ldenbear May 8, 2014 4:05 PM
    koleffstephan koleffstephan May 9, 2014 5:24 AM Flag

    ray: Yes, CEO Barry has purchased many shares of the company, on the open market, practically every year and/or every time the stock "gets hit" with a stock price reduction in addition to his longer dated purchases that occurred at stock prices much higher (16 to 11's) than what PSEC is presently trading/selling for. The CEO is very conservative and I too, am certain, that he has discussed the accounting issue with CPA's in addition to his own PSEC accountants prior to commenting on the conference call about the the potential ramifications of the SEC accounting and how it relates to PSEC. I believe this drop in price is a buying opportunity and I purchase another 2000 shares at a price of $10.31/share. Hopefully, I would like to see the COO and CFO step up to the plate and purchase some shares at these prices as that would be a "good investor sentiment indicator" that management is comfortable with the accounting of the company and with the long term prospects (no pun intended) of the business.

  • Reply to

    This is hardly an endorsement for the CEO

    by g0ldenbear May 8, 2014 4:05 PM
    koleffstephan koleffstephan May 8, 2014 4:30 PM Flag

    goldenbear:

    The CEO has purchased and owns over 40 million dollars of stock and you think "it's time for a new boss?" Nah. The fact that a CEO has purchased over 3 million shares on the open market with his own cold cash tells me that he has "plenty of skin in the game," and is one of the many reasons why I want the CEO to stay aboard. Not to mention that the CEO is intelligent, street savvy, and delivered over $13 in dividend payments to investors (more than the present share price of PSEC) since PSEC has been a public company (year 2004). Nah, no new CEO is needed or wanted.

  • koleffstephan koleffstephan Apr 30, 2014 6:30 AM Flag

    I did call JP Morgan's retirement department who contacted their "in house" tax department. JP
    Morgan maintains that they are required to withhold the tax. It's kind of annoying as I know they are incorrect and that my former custodian of my IRA account - The Vanguard Group - did not withhold. I guess I am going to to have to try to call the Investor Relations Department of MFC to see if they can help.

  • I own MFC Industrial stock in my IRA account for which The Vanguard Group was the custodian of my account. Whenever I received a dividend from MFC, Vanguard never "took out" or withheld a certain percentage of the dividend to pay Canadian income tax. Recently, I transferred the custodianship of my IRA from Vanguard to JP Morgan. Now, JP Morgan is withholding a percentage of my dividend payout from MFC Industrial despite my informing them that the U.S. and Canada have a tax agreement in place that waives the withholding of foreign dividend tax being held in a IRA account between both countries. Does anyone else have this problem? Additionally, can someone send me or post a authoritative document/link that I could print out as proof to show JP Morgan that they are wrong? Thank you for your anticipated help with this.

PFE
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