These Yahoo investor pumpers want to unload their stock holdings before the next step in financing takes place and Walgreens next credit rating report is released...
A corner convenience store selling at $60.00 a share that is funny..
Well that depends on how Hertz's lawyers and the SEC view this. Just looking at history, Bernie Madoff had to turn himself in... despite all the evidence the SEC was given and represented with, I will say no!!!
Sec criminal convictions in white collar crime from large corporations is almost always settled with a multimillion dollar fine and shamefully no one goes to jail..
So Fraud, would require someone inside Hertz to give the SEC compelling evidence, which will not happen as hush money is spread out to departing executives given future stock option grants and consulting agreements.
Now, Carl Icahn never waited for the SEC, so I think he will discharge these folks thru the Sock selling price..
Walgreens largest Investor Vanguard will be writing down over1 billion dollars+ of assets, thanks to Walgreens repriced shrinkage...
This price shrinkage will even gets better as Walgreens will be issuing new Debt (with interest payments) for the Alliance boots merger and more new issued stocks will coming onto the market to dilute the current share selling price.
Yes to the pumpers, the Healthcare Drug sector will experience growth, but the question to be answered, will Drug spending growth outpace the spending in high cost retail locations... offering low cost products with markups that must compete for the shoppers wallet...
When will the SEC regulators say enough is enough on Hertz accounting problems.. and put a stop to this stock from trading in the Market Place??
Mary Jo White(SEC) head needs to get on the side of investors and tell Obama & Company to step up to the job, in telling Hertz to deliver its accounting restatements to lenders, bond owners and stock holders..
This is Cal Icahn's evaluation and plan forward as he filed his SEC form in Hertz's holdings.
Mr. Icahn has been accumulating this stock based on Hertz poor financial, operational results and now with Hertz accounting problems this will be non negotiable for Hertz CEO as Mr. Icahn is seen as a master in reorganizing poorly run Corporations.
Will hertz current selling price remain, I would doubt it ,as the only thing that will get Hertz entrenched BoD attention is a selling price that shames their leadership skills and operations direction..
Mr. Icahn's fellow Investors most likely agree on Hertz's future to remain in business under the current leadership surprise with accounting screw-ups..
This is about as realistic as Walgreens 2014 3Q increase in inventory valuations as ABC took-over Walgreens Rx Wholesale inventory & distribution operations..... Oh yea!!! didnt Walgreens just resign its CFO who restated 2015 projected earnings to a 1 billion reduction..
Walgreen CEO was asked If Alliance Boots merger is accretive to earnings, Oh yes was his answer.. what he did not talk about was Walgreens past earnings had included business units Sales of assets... for the last 3 years, this was approved by Walgreens board of directors from Walgreens managers input, and now Alliance Boots now is the largest stockholder/owner of Walgreens. Co.
How nice for long term investors.. all those stock buybacks that should have been in Investor pockets have now gone to Alliance Boots and KK pockets..
I see someone pick pocketed these major investors..
Projecting forward to how Walgreens will cut expenses, 2 senior managers have been guests of the guillotine , yet Walgreens Board and CFO happily remain intact, and are currently planning for the next round of operational executions, sparing themselves from any financial accountability to these stockholders, who are powerless to see behind these shenanigans in financial engineering.
Yet, some of the Walgreens largest stock holder will soon see that hedging this selling price will make up for their loss in operational credibility .
Walgreens stock promoters are engaged in a campaign to dismiss Walgreens the major financial screw-up over the last 5 years including a 1.1 billion dollar income projected error for 2016..
Walgreens Board of Directors have been quoted in the Wallstreet Journal... as saying they where unaware of this error... and now is using social media to dismiss this lack of over site ... LOL
As you can judge from some recent posters avoiding to discuss this issue..
Now that is one meeting that needs to Occur on TV's CNBC, I would pay to hear Carl tell this CEO he needs to leave the Corporation as he has driven over a financial cliff.
Seeing as this TV meeting will not happen, at least Carl can do is give us a picture from his perspective of the Hertz meeting.
The SEC could suspend trading for Hertz, this would speed up the financial statement release..
Unless there is Accounting Fraud then Hertz needs to call the SEC and the DOJ in.
The idea that a billion-dollar forecasting error was solely the fault of two individuals, Crawford and Miquelon ,takes away any credibility Walgreens may have enjoyed.
Walgreens CFO walked away with $3.2 million in severance pay plus a $1.2 million performance bonus for this major Error.
This occurred As Walgreens Board of Directors was out and about meeting with the investor community saying they had no Idea!!!
Morgan Stanley rerated hertz selling price.
Several Hedge funds including Icahn offshore holdings moved into buying and shorting this stock, it has already been disclosed the accounting books have been cooked for over 3 years.
Its amazing that anyone posting here thinks Htz will recover to a higher selling price soon and the CEO was unaware what was going on.
The Banks, Mutual funds, and pension have billions out in loans to this company and are bailing out this sinking ship now, but in the end there is a hole in the earnings and for that reason it will be priced much lower..
A question we all should be asking is why has the SEC has not suspended this stock from trading as Hertz cannot release earnings..
Is a disinformation poster, As Moody's credit rating agency stated, Walgreens accounting practices are to be reviewed by the credit rating agencies as Walgreens need additional debt financing for the 2nd step in the Alliance Boots purchase.
Managements revenue projections were restated by 1 billion dollars, the CFO was dismissed, so this should call's into question Walgreens Income and Cash flow operating assumptions.
Projections... are the financial strategy in terms of anticipated cash flow and these credit agencies are now faced with a new CFO and a retained CEO who is not in charge of Corporate strategy..
If I was lending Walgreens billions, I and others would ask what is Walgreens ability to restore it credit ratings with operational changes announced every few months.
Take the $4.00 with the stock offering from a Pharmacutical Company that has a sales and marketing department before these patents run out....
Just some solid advice...from a very long term holder..
Well Walgreens manipulated forward earning then pulled it down, now the Walgreens Board of Destruction approved a 3 billion dollar stock buybacks when they did not even meet earnings..
Spending investors money like Drunken Drivers at a bankers bailout hearing,.
True, the CEO is in contract to come out with a gangster rap video called marksman Markey killing main street.
And the SEC are the backup singers..
Sentiment: Strong Sell
lastly from Walgreens last announcement the more Drugs Walgreens sells the more money they will lose...
Sentiment: Strong Sell
This is beyond the pale when Htz can't even produce its financial results for the last 3 years.
The Board better have a lot of liability insurance as they are approving to spend other Investors money based on a company that can't release earnings..
Did hertz CEO leave the USA yet...I think he applied for a switzerland citizenship to avoid
facing a lawsuite..
So it has been reported that Walgreens CEO was paid 14 million dollars last year in base pay, options and stock warrants including benefits...
All this for leading a executive team to misstating forward revenues by 1 Billion dollars..
Geez wouldn't you like to find a job like this, where you can be a screw up and receive 10's of millions...
I wonder how much more he would paid by bringing this company in bankruptcy