The company was sued and the settlement has been finalized and approved by the court. I haven't seen a penny yet and even if I do we are talking about a 1% recovery on the total investment. If there was any criminal wrong doing it would have been pressed by the DA's. I still can't believe the GOVT let's these sham Chinese CORPS to list stock on US exchanges. This company is one of many Chinese COS that have just plain ripped off unsuspecting investors. This whole thing was a scam from the start apparently and I fault myself for not looking a little closer at it. Last time I ever buy into a Chinese company.
I worked at one of the plants in Metro Detroit years ago and one day the DEPT Superintendent brought me an opened letter addressed to me that was sent from my brokerage account. The letter contained a trading confirmation from a trade I had made earlier in the week. I called the firm and asked why the confirmation was sent to my place of employment and they said it was a " mistake ". Funny how they made a mistake when the earlier activity on the account was sent to the proper address at my home. Years later after the account was wound down one of the level one MGT personnel said " you were making money for a while ". I want to know what gives you people in these CORPS the right to spy on people and concern your selves with their personal business? Just because they are in labor union ? You people in that triple 6 club within these CORPS got a big set of cahunas and are nothing but NOSEY JERKS.
You're correct, but I was wrong about the class action part. I did file a complaint with the State Dept. of Consumer Protection Division though. Not that I'm a stickler but when different lots of the same bulb fail at 100 hours systematically instead of 985 hours, which they are rated at it's time to say something. This could be an intentional gouge to bolster the company treasury coffer and amounts to a staggering amount en masse.
I have been purchasing GE brand 60W light bulbs at Meijer stores in Michigan for the past year or two and have noticed after using at least a dozen of them that the rating on the packaging as far as useful life goes is not accurate. The box says the bulb is supposed to last at least .9 year based on usage of 3 hours a day and I have noticed they fail a lot sooner and on a consistent basis. These bulbs are supposed to last at least 987 hours at the minimum and they are failing after 100 hours or less. I understand that defects happen occasionally but this premature fail problem has happened over the course of several purchases and I suspect the problem is designed in or a gross MGT oversight. This amounts to a rip off of consumers because they have to replace bulbs more often than otherwise. I find it hard that a company worth over $250 B on the stock market can't identify the proper service period of their bulbs or make them last like they should. This is another example of CORPS ripping people off by what ever means are available to them. Maybe a class action lawyer can pay to commission test and validate this claim. You people In those suits who work in CORPS think most of the society is stupid don't you ? Far as I'm concerned you people in the top 20% of the income curve can pay more in taxes and take a pay cut like the rest of us. What a bunch of SHAMAN.
Use some of the cash to get that bond debt off the balance sheet. Ford has a much higher leverage ratio than the General, primarily because generous motors cleared it out when they filed BK in 2009. These auto stocks used to trade at P/E multiples between 8-12 but for some reason track closer to an 8 in the last 10 years. The UAW and the CO MGT needs to suck this paper up but I'd keep it at about 12.5 % of portfolio value to preserve a cushion in light of another Bush / Cheney / GOP induced recession similar to the last one.
Some advice to hourly people on some of those level one & level two MGT people: they have an agenda. One of them used to visit the local bar near the plant once in a while to mingle with the workforce. One night on NYE it seemed like he was taking notes on how much people drank. I think he ran back to upper MGT and tried to smear people he didn't like or to get them pegged as future "problems". They are nice as long as the company and your plant is in the black but when those numbers start coming in red they can get real nasty. They are experts at waging psychological war on people. Keep your cards close to your vest and don't confide in ANYONE at the plant, union or salary. Most of them will use it against you eventually.
They contribute to the culture musically - I just rocked out to some classic Lynyrd Skynrd on You Tube and the UAW is gonna organize the gomers at VW in Chat Town soon. So all is not lost. Hang in there - maybe they will start to pay people in sunshine plus cash by the end of the decade.
Again, refer to the SEC docs for the proper EPS figures as any public CO is legally required to calculate their financial results per GAAP conventions or else the CPA firm will not sign off on MGT results. One guy referred to share based comp. expense which is sort of moot because the shares issued to employees or directors instead of cash cause the profit to be spread out over more equity and dilute the EPS result.
Most of the data on the financial websites isn't accurate or is out dated and I suggest verifying everything before pulling the trigger by reviewing the SEC Docs. The P/E's displayed generally are calculated using by the former year's EPS. The relevant P/E is the FWD year though and I NEVER buy a stock with a P/E above 30 regardless of future predictions because there are safer places put your money. A 30 multiple is a good place to sell if the volume is light or AVG but the only circumstance where you hold a 30 flyer is if it's moving up on above AVG Volume, in which case you wait until it hits the apex and VOL cools. Cash out and rotate into a cozier position.
You don't buy or hold a stock that is trading at 30 times FWD year earnings, you sell it. Why do you think banks have maximum of 30 year terms on their mortgage loans ? Because that's the point of diminishing returns on cash flow streams. New account growth will flat line soon because the CO. is 8 + years old and growth is slowing. Plus, China will never open their market to F.B. and the Russians either because it facilitates political opposition to the status quo politically. Get out now and buy it back when it drops to $75 a share. The MGT can't even find a suitable office BLDG for their peculiar staff let alone navigate a numb ship of fools like this.
F.B. comment cops unfairly target certain people because of philosophical differences. I have been barred from posting on the system twice because of crybaby complaints made by other adults who found my comments provocative. Facebook censors think they can speak for other adults who find comment content offensive or disagreeable. Rather then rebut or ignore content these RATS report to F.B. and then some granola bar sitting in the lotus position acts as a clearinghouse and bans people like a prickly bartender. You granola bars need to stretch your legs and uncurl from the lotus position and get into the fetal position you thin skinned babies ! I suggest other account holders overload the complaint DEPT by reporting every offensive comment they read and give these 25 year old geeks a workout. This company's MGT can't even find an office BLDG big enough for parking all their peculiar employees who like to play with computers. I hope the Teamsters organizes your bus drivers so you egg heads get offended by the guy driving when he scratches his butt on the way to work !
I don't now how the MGT of this firm got away with pulling off that plain view robbery of shareholders but some one needs to screw these culprits over like they screwed shareholders. These people need to be held to account and if they escape the arm of justice some one needs to handle it on the street. This is like the rich stealing from the poor. Now news on this black box either. People get #$%$ when a-holes with nice clothes steal their last $5,000. Go to the bottom of the sea LOSERS !
34 times earnings is not a good valuation to buy a stock, growth or not. Also, what is relevant is future year earnings not past year earnings. You sell at a 30 multiple, not buy unless the volume is above average and lifting it up to another level, then you ride the move and cash out at the apex. Why do you think banks have a maximum of 30 year loans on mortgages ? Because that is the point of diminishing returns on cash flow returns. Get out now !
No, it's not ludicrous, it's incredulous and naive to think stock markets are always rational. F.B. does have global scale but the company is 8 + years old and growth is slowing. Go ahead and pay 30 times FWD earnings if you deem it a good proposition. Fair value can be subverted if a seller has sudden bills and must liquidate. Stock markets go down in tandem and many good bargains can be had when the heard heads for the exits but the fundamentals remain intact. People over pay and get value every day. The stock is due for a hair cut.
Trump will never win the election. He has never held an elected office and is unqualified to preside from the White House. Cruz, Kasich, Huckabee, Romney and even Barbara Bush will likely form a loose coalition and prevent him from clinching the nomination to avert a disaster scenario and tweak the odds for a GOP win against Hillary. Time for Trump to go back to his Manhattan Ivory Tower or stay in the race another six months and watch his beloved bank account notch down another level or two.
Fair value is defined by the price of what a rational exchange occurs at, not a nostalgia buy or a desperation move. The house in a given neighborhood sells at $150k and a similar house will garner a fair bid similar to the previous sale. That's fair value and not speculative avarice. There is another old saying among investors, " buy low and sell high".
Facebook claims 1.2+ B users or 1.6B but if you look at the users who have logged on within the last 30 days the number of active account holders drops to about 800M. I had 30 friends on my page and deleted half of them because they created an account in 2010 when the platform was relatively novel and new but have since ceased to spend any time on the system. This info. may or may not be disclosed in the SEC DOCS, but knowing how MGT likes to sugarcoat results it's no surprise if it's not. Also, it's also possible to take pony rides at the state fair but how many people are going to watch major global events on a buggy computer platform when they can turn on the TV. F.B. is a stupid pass time like baseball and beer drinking. Surely they will find another way to use technology to wring cash out of the cyberspace realm. What and how is an exercise for the Harvard brain trust and I could care less. Stay within your "circle of competence" like Buffet says.
I was going to thumb you up but you are incorrect as far as saying the stock is at fair value. People paid $200 for a tulip bulb in Holland during the 19th century and people over pay for stocks all the time. China's roadblock will flat line new account growth and F.B. will decline in price to $65-$75 a share.
If I buy some foot sandles and move to CALIF can I sit around in the lotus position at Yahoo Corp. offices and play with computers ? Can I sit next to a deviant psychic vampire so he can sabotage my account and manipulate me like one of his pet toads ? You triple 6 devil hats in these corporations need to be reined in and John Boehner has the right idea when he complains about you low lifes.