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OfficeMax Incorporated Message Board

legalbark 54 posts  |  Last Activity: 6 hours ago Member since: Jan 4, 2004
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  • Reply to

    Dividend unchanged

    by vjpj1110 8 hours ago
    legalbark legalbark 6 hours ago Flag

    I agree. I sold the May 10 calls against my long positrion. Between the dividend and the premium I think it makes sense. GLTA

    Sentiment: Buy

  • Reply to

    Back in at $9.50.

    by kenpalley2000 Mar 30, 2015 9:50 AM
    legalbark legalbark Mar 31, 2015 7:10 PM Flag

    Ken- Agreed. I think we both went in earlier at about the $9.50 price. I think it's the bottom and bot more today at $9.50. Great yield that I think will hold and selling forward calls at a nice premium. GLTA

  • Reply to

    1 Billion Dollar investment by EIG

    by ilovesilversilver Mar 30, 2015 7:43 AM
    legalbark legalbark Mar 31, 2015 6:54 PM Flag

    Yes, but think about it a bit more than a knee jerk reaction. Here's a very sophicated investor putting up a billion dollars of investment in BBEP. They are better at reading the financials than you or me. They insisted that the distribution to the old holders go down to $.50 a year. This protects their investment. So her I am, a holder of BBEP with a 9% return on the present price and in a margin account that amounts to an 18% return. Sell future calls against a fairly stable position and I don't know what more you could want. GLTA

    Sentiment: Buy

  • legalbark legalbark Mar 30, 2015 5:38 PM Flag

    BBEP recently put out 2015 guidance. I know it isn't binding becease of all the protection statements. Still, it essentially said that with cut back to $1.00 distribution everything was going to be OK. That's the way I read it and I'm sure other investors read it the same way. The management scrwed their investors. They know months before where things are going financially. How they could give the comfort of the $1 annual distribuution and then cut it 50% is outrageous. I hope they are sued to hell by plaintiff's lawyers. GLTA

  • Reply to

    I think Karen_Lupa could be right

    by bruce_jemcek Mar 27, 2015 11:33 AM
    legalbark legalbark Mar 27, 2015 6:50 PM Flag

    So where are you with this stock? I bought 5000 at $6.10 and sold the April 10 calls at .$.40 against the position. I'm feeling pretty good as long as the monthly distribtution continues. GLTA

    Sentiment: Buy

  • Reply to

    I think Karen_Lupa could be right

    by bruce_jemcek Mar 27, 2015 11:33 AM
    legalbark legalbark Mar 27, 2015 6:12 PM Flag

    My money is still on BBEP at a bottom around $6. Therefore, I purchased 5000 shares at $6.10 and sold 50 April 6 calls at $.40. Not more than $1500 on a $15000 investment (margin account) . GLTA

    Sentiment: Buy

  • Reply to

    management will make you rich

    by roadtoad30 Mar 27, 2015 2:14 PM
    legalbark legalbark Mar 27, 2015 5:16 PM Flag

    I don't think you really get . LINE is issuing more LNCO shares in the market pursuat to their Marketing Agreement. This is having a very negative effec on the PPS of LNCO. Therefore, it will be over at some point. Now is the time to buy cheap. GLTA

    Sentiment: Buy

  • legalbark legalbark Mar 26, 2015 7:05 PM Flag

    bear- Believe it or not, I do know a little history. Actually, I consider myself rather well read in world matters. If you're referring to the Ottoman Empire, fine. That's not SA. None of the Gulf States have any kind of military record whether in my lifetime or history. You'll notice that in Yemen the press is reporting that Egypt "and SA" are going to lead the ground forces against the Shites. The Egyptian troops do have a history. SA has none.. GLTA

    Sentiment: Buy

  • legalbark legalbark Mar 25, 2015 7:59 PM Flag

    Well, you know, the arab countries have never scored militarily. They can protect their kingdoms but when it comes to going out of country and waging war on a foreign opponent, I can't think of one instance where the armies of the Arab kingdoms have shown any guts or military skill. They can keep their populations under control, but going abroad they don't have a clue. I'm not counting on them to beat ISIS. My bet is on the U.S. Marines. GLTA

    Sentiment: Buy

  • Reply to

    Short Interest

    by bridgejumper08 Mar 16, 2015 7:49 PM
    legalbark legalbark Mar 16, 2015 8:27 PM Flag

    I think you're totally wrong. The banks have been with BBEP a long time.. They've made tons of money on their loans and fees. They are going to keep that profitable relationship even through this industry-wide down turn. Management told us at the conference call they do not expect their borrowing base to be reduced below the current borrowing level. They also issued a projected budget for 2015 that shows the company living within cash flow even with the $1 annual distribution. Why would they say all these things and invite class action law suits if they didn't really believe the statements? I don't think they're that dumb and 2015 is going to turn out OK even with the ups and downs of the pps as WTI moves up and down. GLTA

    Sentiment: Buy

  • Reply to

    LINE/LNCO Price Difference

    by widjj Mar 12, 2015 2:16 PM
    legalbark legalbark Mar 14, 2015 6:52 PM Flag

    I agree. Entering into the contract to dump $500 million in LNCO stock at market prices has depressed the pps of LNCO immensely. One can only wait until this huge stock overhang is gone. I still think the $9.50 area is about as low as it goes. So I bot some more at $10 and sold the April 10 calls to hedge the stock position. We'll have to see how it works out. GLTA

    Sentiment: Buy

  • Reply to

    DIVIDEND retracement

    by delldudelives Mar 12, 2015 10:21 AM
    legalbark legalbark Mar 12, 2015 6:05 PM Flag

    BBEP filed an SEC document approving the sale of a large number of BBEP shareholders who got their stock as an exchange for ORE. I think theyre all selling and this is putting tremendous pressure on the pps of BBEP. Personally, I'm buying nto this weakness at the present and selling off calls to hedge the position GLTA

    Sentiment: Buy

  • Reply to

    So Obowel vetoed the Keystone Pipeline.

    by underground871 Mar 6, 2015 10:14 AM
    legalbark legalbark Mar 8, 2015 2:07 PM Flag

    You know, we all read what is published and form our personal opinions on just the published reports. We are really ignorant of all the ramifications of the Keystone Pipeline except what we read. From a big picture perspecitve, the pipeline would create a lot of jobs buildiing it, probably causing enviromental problems in the process, but at the end of the day the pipeline will be delivering Canadian oil sands oit to the Gulf Coast refineries. This can't help but put price pressure on the US producers that are currently suppying crude oil to the refineries. Bottom line, why support a pipeline that creates more price pressure on US companies like BBEP and LINE? GLTA.

    Sentiment: Buy

  • Market Edge, the technical service available at Schwab, just raised BBEP to LONG which means it is a BUY in their opiniion from a technical standpoint.. Also, Credit Suiisse and one other investment firm put out new ratings agreeing on a target price of $8. There obviously are no promises here, but this all makes me feel more comfortable with my position. GLTA

    Sentiment: Buy

  • Reply to

    making money on the short

    by roadtoad30 Mar 6, 2015 2:49 PM
    legalbark legalbark Mar 6, 2015 7:31 PM Flag

    I'm still in both LINE and LNCO pretty significanctly and I don't like the current stock action in LNCO. It's obvious from the tape that the constant dribbingly out of stock under the Distribution Agreement is having a very negative effect on the PPS of LNCO. I think they would have been better advised to take an immediate hit and price the whole offering below market and be done with it. As it is now, we just have Chinese water tourture every day with no real buying support because everyone knows how much new stock has to be distributed. I don't believe management made the right choice on new equity raising. GLTA

    Sentiment: Buy

  • legalbark legalbark Mar 3, 2015 6:44 PM Flag

    I don't think that's what management said. I heard them say any redetermination would not be below the current owed balance. Therefore, they may be 100% borrowed after the redetermination but they really don't have to take any drastic action. They plan to live within cash flow and generate $80 million in excess cash. I think the company is fine. GLTA

    Sentiment: Buy

  • Reply to

    1750% earnings beat, 2.27 vs .13 expected

    by shivering_gums Mar 3, 2015 9:27 AM
    legalbark legalbark Mar 3, 2015 11:00 AM Flag

    Why don't you just relax and take the company at its word. Management is surrounded by SEC attorneys and I guarantee you, they would not say what they said today if they had any doubt. Why tell a lie and invite class action suits? i think the BBEP management know their business better than any of us and if they see the guidance as being met, I really don't know how someone outside the company working with old information can dispute it. GLTA

    Sentiment: Buy

  • Reply to

    1750% earnings beat, 2.27 vs .13 expected

    by shivering_gums Mar 3, 2015 9:27 AM
    legalbark legalbark Mar 3, 2015 9:46 AM Flag

    Probably not, but the report does affirm that based on operations so far this year (2 months) they feel comfortable with the 2015 guidance given on January 2nd. That's what I consider the important point. GLTA

    Sentiment: Buy

  • Reply to

    Earnings Out March 3

    by thegreatbahoo Mar 2, 2015 1:21 PM
    legalbark legalbark Mar 2, 2015 4:47 PM Flag

    What difference do 4th Quarter earnings mean at this point? The whole pricing of oil and gas has changed dramatically and BBEP has given us their guidance for 2015. I can't imagine why anyone at this point of time would want to look in the rear view mirror to decide whether to make an investment. I think the more correct question would be is BBEP on track during the first two months of 2015 to achieve its guidance for 2015. GLTA

    Sentiment: Buy

  • Reply to

    What is the PV10 @ $50 a barrel?

    by brryry47 Feb 24, 2015 10:40 PM
    legalbark legalbark Mar 1, 2015 1:54 PM Flag

    I've listened to a number of oil and gas mlp calls the last month or so. They all indicate they're seeing substantial reductions in their costs. Rigs are less costly, support services are less costly, and at LGCY I understand the salaries were cut. Everyone is fixated on the price of oil and gas and no one seems to be giviing that much credit to the reductions in the cost side of the income statement. GLTA

    Sentiment: Buy