Fake maverick strikes again. Funny that there is no bigkahuna, moe, circle, regarded... posting anymore. Just a tip - the real maverick (me) rarely starts a thread.
Note too, that fake maverick toggles his language from go baby run, panties in a wad and such to sounding rational. Anybody doubt there are paid posters to spread misinformation? Language usually does not vary like that.
Ridiculous. NRF shareholders just overwhelmingly voted for mgmt compensation and the incentive plan and you expect them to vote against the merger?
Even more ridiculous is that you knowingly respond seriously to a person who uses multiple ID posts to spam the board and imitate others. Hint: check the date he created his ID, also maverick757200 and maverick7570200. Look at the date my account was created. BTW,the fake maverick is also moe (who himself mimicked another moe), regardedsolutions, harbourmaster and more IDs -actually yahoo aliases.
The only buyback they have done is ~$18 per share. Since they have most likely not been buying back this year, it remains to be seen what price any buybacks will be achieved.
That NAV is overstated in a couple of respects, one of which they WILL flow through their next calculation. The other is more the sleight of hand variety.
We won't see any restraining order. He talked about a lawsuit earlier, and we won't see one initiated by kahuna.
But if he begs to differ, he needs to post his full name now so that any action that takes place can be linked to him. So, kahuna, what will it be?
I don't like to put posters on ignore, but doing so sure gets rid of all the threads by new accounts and old accounts that just began posting about NRF. Something about a potential merger brings out lots of screaming posters saying little. I used to doubt there were people paid to post misinformation and such, but now believe it is pretty widespread. I know people who openly, not anonymously, post tremendous misinformation despite having a mantle of credibility.
If you put someone on ignore, you still see their posts when not logged in, which is most of the time for me.
This post makes no sense to me. No securities are being placed (sold), so how is there a placement price?
How are there possible bidders when the parties are in exclusive negotiations?
Elsewhere dar posted how the resulting dividend would be about $1.11. I worked it differently than he, but come up with the same conclusion. Call the dividend $1.10 to $1.15. Add the market caps of the entities and divide by the number of shares outstanding (sum of three) and you get a stock price of roughly $13.75 per share.
To retain a $1.60 dividend means they need to find over $200mm in annual savings (don't have the number handy and can't remember if it is low or high $200s).
NRF and CLNY get a div cut. NSAM get a big div increase. At $13.75, NRF gets a stock price bump, NSAM gets a nice jump, and CLNY gets a big drop in price.
This was an extremely top level quick take using very rough number and obviously there are no details. Still, something to think about.
Mgmt certainly does not deserve their comp. I don't mind negative opinions, but Kahuna is just spamming the forum. When he does introduce facts into his posts they are usually wrong. He and moe have tag teamed other stocks in the past I think. Hmmm.
I have not done calcs after the most recent qtly, and there are a number of sale scenarios to consider, but certainly after the previously reported contracted sales the $1.60 div is sustainable. Further sales will impact that, so I need to re-do my calcs.
The point is that moe, kahuna and you are likely one idiot, er, person. You all post nothing of substance on a common set of companies (Ford, CPLP and NRF in your case).
What a stunning coincidence, eh?
Human nature is that when people get in a position where they believe they can steal real money from others without getting caught, they will. I have seen it time and again, even from those who are well respected, held in high regard, pillars of their church and community.
That said, I generally agree with you that outside those circumstances, most are pretty professional.
Voting no on the merger returns everybody to being subject to the excess compensation that will continue to drain NRF. Even if the board via proxy gets an overwhelming no vote, a few independents will be put on the board but many will remain. Those independents will be professional, credentialed, will be well advised legally and will make solid efforts - but will they be able to accomplish anything?
It's clear this merger is from weakness. Mgmt forgoes bonuses and salaries and gives up some other comp, gets all paid in stock which is locked up for two years - all signs that NRF/NSAM were desperate. People post about lawsuits, turning over the NSAM contact, etc - anybody can sue, but it takes deep pockets to successfully sue. Who is putting up millions in legal fees here?
The earlier thread was deleted. Skipping the details, they are all relatively recent IDs, and all post on the same stocks: CVRR, CPLP, MCEP, F, NRF. Coincidence?
And now regardedsolutionsfanclub shows up - who posts on CVRR, F, NRF. More coincidence?
Probably more IDs as well. If you look at one of the stocks they post on, a lot of new posters all around the same time. I suspect many more yahoo id's being used by them to have reinforcing discussions with themselves. The question is why? Could be a lot of different motivations. People don't create a whole bunch of identities and move from security to security to tell the truth. Tbe truth is usually factual and stands well on its own. It is usually to get others to do something, for whatever reason they have.
I see too they have created a fake Maverick ID. They are so brilliant. Look for the 2000, just like the year. Don't be fooled by imitators!
Maybe guppie figured that if a poster using multiple IDs goes to all the trouble to repeatedly post about how bad the merger is, there must be an ulterior motive. So vote for the merger instead.
After all, it is not like the same poster has been on the NRF board for long. And it is not like the same poster has not done similar things with other stocks. Who knows, maybe it is Land and Buildings behind the posting?
Besides, it is only money, and almost never does a vote matter.
fake maverick strikes again. So threatened by disclosure of kahuna, circle, moe, and more being one person that he created three fake maverick ids to discredit me.
Believe as you wish. BTW, that $29 NAV was only $25.XX per the last update. Ooops, $4 gone. Oh, and that NAV is overstated by virtue of one of the calculations which is hiding in plain sight. More NAV gone (forget the amount). Oh, and that is NAV of the assets unburdened by the mgmt contract.
I have spent little time lately thinking about NRF - any reasoned thoughts about the next event in this process they are going through?
Fake maverick IDs include 20000 and 0200.
Just a tip - I rarely start threads. See a thread started by a maverick in the near term - it is fake maverick.
jridley, any doubt that harbourmaster and moe are the same person? Here is moe posting on Barclays (BCS) with the Morgan Stanley stuff: Well Done Working Class Brits - You Just Killed Yourselves Financially by moe3355 •3 hours ago
ruswise, kahuna is full of hot air. Anyone with experience knows shareholder litigation hurts the company and the shareholders and benefits the attys. He is starting thread after thread that say nothing but are negative - for reasons only he knows.
Selling assets and not buying back shares was entirely predictable from the prior earnings call. Now, though, the CLNY deal prevents further buybacks and it remains to be seen what happens next.
I can speculate that the asset selloff is part of a market call. They are opportunistic and maybe think if cap rates are rising and real estate has peaked, sell now. Perhaps their plan is to use the proceeds to be a vulture lender of sorts as real estate loans are maturing in a declining market with unwilling lenders. They have spoken of this opportunity before. I have no idea.
CAD, like NAV, is a manufactured number. Calculated precisely but with some loosely identified filler items that are significant. (Take a look at NRE's CAD for fun. Can you find Waldo?)
However, the div is covered enough (mav adjusted), such that I saw no risk this quarter.
1) the CMBS reference was about NRF stock dropping early this year (one of the catalysts of the price drop), creating the buyback opportunity
2) please link any yahoo finance post where I have touted NRF. The only thing I touted was they should buyback stock, should have moved heaven and earth to do so when the stock was cheap. You and I agree they should have but did not.
Lunco, that is the fake maverick. He is the same person as moe, bigkahuna and others (posting under multiple id's) and got mad at me for exposing him so used the clever tactic of making a username similar to mine.
moe, should shareholders take advice from you - a person who posts under multiple yahoo aliases (harbourmaster, regardedsolutions, three fake maverick ids and others)? A person who has spammed the board repeatedly? A person whose is either just a nut case, or one who is paid by somebody to use yahoo message boards to get some particular result (maybe by investor village to make the Yahoo message boards worthless?).
Of course, maybe your gambit is to spread hate, become hated and cause people to vote FOR mgmt. Nah, that sounds above your pay grade.