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Hutchinson Technology Inc. Message Board

longtimefollower 602 posts  |  Last Activity: Jul 9, 2014 9:30 AM Member since: May 12, 2000
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  • Reply to

    Shah Capital bought more Stocks

    by z.oezdamar Jul 8, 2014 12:54 PM
    longtimefollower longtimefollower Jul 9, 2014 9:30 AM Flag

    Any purchases were done PRIOR to ED's action against the company. There have been no reports of any subsequent purchases. And I highly doubt there will be.

  • ...tthe fact that he effectively destroyed Corinthian Colleges, through the sin of pride and hubris, and put them into (pending) bankruptcy.

    That an executive would not sense, and would not FEEL, that "the end was near," and that he was "twisting in the wind," is the ultimate in incompetence and arrogance. Jack basically sent the message to the government that "we don't have to do anything you want"...and the government said, al contrair, Mr. Massimino.

    Jack Massimino gets the ultimate booby prize....for reckless incompetence...and willfull blindness...and asinine contemptuous defiance.

  • longtimefollower longtimefollower Jul 9, 2014 9:19 AM Flag

    To say "I know exactly what is coming" reveals your hubris, and grandiosity, in spades. Only ED knows exactly what is coming. Are you the Secretary of Education??

    You are going to get your hat handed to you.

  • longtimefollower longtimefollower Jul 9, 2014 9:18 AM Flag

    Thank you. Now, it would be nice if you would agree that it was very hard to see or know exactly when this game of musical chairs was going to stop. And that, if it continued for another year or more, COCO could have been a profitable "flip," buying the stock at $1.

  • longtimefollower longtimefollower Jul 9, 2014 9:16 AM Flag

    I'm not a short. I'm a former long who lost his shirt, but got out within a day of the ED announcement effectively closing COCO down. Shareholders don't get treated nicely in what is effectively a government declaration of "game over." They are looking to PUNISH COCO management. Don't forget that.

  • Reply to

    Corinthian purchase of Herald at $395 million

    by drdilipdo Jul 9, 2014 4:32 AM
    longtimefollower longtimefollower Jul 9, 2014 9:11 AM Flag

    You're living in the past. This doesn't matter any more, because entities looking to acquire COCO assets are more fearful than ever about the liabilities attached. The assets are going to go for a fire sale price, now. They are tarred and feathered, and buyers are FEARFUL. Unless COCO settles a ton of legal cases pronto, which seems highly unlikely.

  • longtimefollower longtimefollower Jul 9, 2014 9:05 AM Flag

    DOE is certainly not "helping" the company. It is facilitating an "orderly wind down." That means shareholders are the LAST people DOE is concerned about.

    They are basically, astonishingly, taking the assets AWAY from this sleazy management team, and saying "game over." The outcome of that process is very likely to involve 1) fire sales, and 2) outsized costs in the winding down process.

    DOE, in my opinion, WANTS the shareholders of COCO to get nothing, and wants the remaining entity to go bankrupt....after all of the students are provided for. The reason they WANT that to happen is that they want to teach a lesson to similarly sleazy operators. To remind shareholder owners that if you get in bed with the devil, DOE will no longer just turn away its gaze, and hand over its money to you.

    I can't believe the board didn't fire Jack, IMMEDIATELY upon this happenstance. It shows how feckless and cowardly they are. Although it wouldn't matter, at this point.

  • longtimefollower by longtimefollower Jul 8, 2014 9:16 PM Flag

    This is now my largest coal holding. I prefer it to ACI, now.

    This is a spectacular intermediate to long term buy, imho. I agree with the Seeking Alpha article.

    Buy it for the discount to book, and turnaround potential. Sell it for break even or better, a year or more from now, if things don't turn around.

    This one is due for a major dead cat bounce....regardless of the near to intermediate term fundamentals. They have liquidity, so bankruptcy is NOT an issue for a good long while.

    Sentiment: Strong Buy

  • longtimefollower longtimefollower Jul 8, 2014 7:38 PM Flag

    To say you NEVER sell a stock you buy, for any reason, is the mark of an amateur. You HAVE to be willing to sell. If you can't change with the fundamentals, you will lose as much as you win in the stock market, and your returns will be BELOW average, or even negative. Curring losses is critically important. (Mind you, I am also a huge fan of averaging down....but only when I should. COCO being one case when I was mistaken in averaging down. But I turned on a dime, when ED announced they were ripping the rug out from under these stooges.)

  • longtimefollower longtimefollower Jul 8, 2014 7:33 PM Flag

    You're in dreamland. The company said nothing about shareholders. They are in a FIRE SALE of assets, which will get much less than you say. And the wind down expenses will be extraordinary.

    The stock is trading at 20 cents for a reason. My guess is there is less than a 10% chance that shareholders get anything. "The powers that be" have decided to drive a stake through the heart of COCO. That means that they "plan" on shareholders getting order to "teach a lesson" to the "evil people" that were running this thing.....and to the other for profits.

    I hope Masimino is charged with criminal fraud. Separately, I feel the company hid from investors, and downplayed the fact that ED was looking for very specific info, that the company was not providing. And WHY weren't they providing it. Isn't THAT a breach of fiduciary duty, in its own right? Ignoring the goverment, that supplies 85% of your revenues?

    Basically, ED decided "You don't provide us with information when we ask for it, we close you down." If that is what they decided (that the clowns at the top of COCO will NEVER run a for profit college again, essentially), they are SEEKING to ensure that shareholders get nothing. And that WILL be the outcome here. This is not a good time to be selling these assets.

  • longtimefollower longtimefollower Jul 7, 2014 7:38 PM Flag

    I didn't say i doubled down last week. I didn't say anything, nor shall i right now. Because i have nothing to say. Except that i think uptab is very savvy.

  • longtimefollower by longtimefollower Jul 7, 2014 9:25 AM Flag

    Nothing short of astonishing, really. Calls for all manner of superlatives.

    The stock could easily trade for double the current price....and damn well should.

    Sentiment: Strong Buy

  • Reply to

    longtime lost big on COCO?

    by svenkarls1 Jun 25, 2014 12:32 PM
    longtimefollower longtimefollower Jun 28, 2014 11:36 AM Flag

    It wasn't that "the book value didn't have value" with's that the government decided it had had enough, and had state attorneys general breathing down its back, and decided to shut COCO down suddenly. That really fouls up any reasonable expected value scenario one had with COCO, because the game of musical chairs suddenly stops. I estimated the risk of the government doing such a thing as much lower than it was. I partly made that assumption based upon the fact that, last fall, the government "waived coco through" on the financial sustainability ratio, and did NOT require a posting of a letter of credit. Unfortunately, things changed drastically, since then, and "the powers that be," including, i believe, the POTUS himself, decided it was time to "make an example" of "the worst of the worst" of the for profit colleges. In restrospect, Leon Panetta getting on the board of COCO, and then off, 3 months later, may have been the canary in the coal mine.

  • Reply to


    by davenport_mba Jun 23, 2014 10:37 AM
    longtimefollower longtimefollower Jun 23, 2014 11:05 AM Flag

    Insiders would not be allowed to sell stock in the open market. They'd be thrown in jail.

    I don't you've EVER been short this stock...or ever made a dime in the stock market in your life. Your just too busy lording over yourself. Goo'gooing and gaa'gaaing.

  • Reply to

    Massimino must have a tin ear.

    by longtimefollower Jun 22, 2014 4:06 PM
    longtimefollower longtimefollower Jun 23, 2014 3:06 AM Flag

    Nonsense. I sold 2.6 million shares over two days. Salvaging the capital will almost certainly be the smart move. And the courageous one.

    The government made a decision. They are not going to go back on it. They are going to make an example of corinthian....and "punish" and humiliate Massimino and Co. For defying them, and making a mockery out of their authority.

  • Reply to

    Director BURMAN TERRY LEE buys $10k at $14.08 on 5/15

    by smaycs4 May 19, 2014 11:59 AM
    longtimefollower longtimefollower Jun 22, 2014 4:39 PM Flag

    Pure contrivances. They wanted to show "faith," that the story is still intact. But the buys are token. If they hadn't bought, the street wouldn't have trusted rouleau's "new company on sept 1st" folderol, and the stock would have dropped to $8-10, after the last earnings release.

    Rouleau and burman are just buying time. But it only means the stock goes down MUCH HARDER, after the xmas results come out, are disappointing... and rouleau starts talking about more merchandise "repisitionings," and "necessary clearances," to set us up for an "absolutely fantastic future."

    We're getting pretty close to the "pay no attention to the man behind the curtain" time with these bozos. In fact, that's EXACTLY what burman 's and rouleau's open market buys fatuously represent. I see it as an integrity issue. What they have to lose, they're thinking, if it "buys" them credibility, for another 6 months....when that credibility should be in tatters, at this point.

  • Reply to

    Rouleau is doing no better than Mason!

    by longtimefollower Jun 18, 2014 3:23 AM
    longtimefollower longtimefollower Jun 22, 2014 4:29 PM Flag

    Ive lightened up considerably in emms....but was buying when it got down to $2.65.

  • longtimefollower by longtimefollower Jun 22, 2014 4:06 PM Flag

    The very fact that it could come to this testifies to the height of his arrogance and stupidity and grandiosity. Why didn't he voluntarily leave the company months ago, in order to save it? Why didn't this stupid 11 member board know that It was getting to the final straw with ED.

    Will the government, in the end, be able to prove fraud, and will Jack be criminally indicted?? One would feel better if such was the case. Otherwise, That he could get away with "mere" stupidity and arrogance would leave a sorry taste in one's mouth.

    The fact of the matter is that he, and this stupid board, should have known the company was WAY out on a limb with ED.

    Jack's statement referring to an "orderly transition of our operations" shows it is, indeed, over, and that ED has effectively decided to force COCO to close. Everything from this point onward will be on ITS terms.

    Sentiment: Strong Sell

  • longtimefollower longtimefollower Jun 21, 2014 2:12 AM Flag

    I think they knew EXACTLY what they were doing, when they put COCO on a 21 day delay. And that their intentions are clear.....even though they are DISINGENUOUS in the way they are communicating those intentions.

  • Reply to

    I'm out.

    by longtimefollower Jun 20, 2014 1:15 PM
    longtimefollower longtimefollower Jun 21, 2014 2:09 AM Flag

    I don't believe that was knowable. The fact that, 8-9 months ago, ED waived the company's need for a letter of credit, related to the financial stability score, suggested to me that the government was NOT looking to attempt to shut down Corinthian. Obviously, attitudes within ED changed over the intervening months.....because now ED is overtly seeking to come up with an "excuse" to shut the company down. (The 21 day delay in paying COCO no doubt has the INTENTION of pushing the company over the edge.) They are basically punishing mangement, and making an example of them.

    If the truth of the manipulation of information is true, i hope there will be criminal fraud charges against appropriate COCO mangement figures.