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BankUnited, Inc. Message Board

smallercap 273 posts  |  Last Activity: May 27, 2016 12:36 PM Member since: Aug 14, 1998
  • Reply to

    This Stock Has Become a...

    by vipinkot47 May 13, 2016 9:27 AM
    smallercap smallercap May 13, 2016 10:41 AM Flag

    You need to do some DD on there working capital adjustments, in every Q1. You don't seem to understand the seasonality of there business, and how working capital(cash) changes dramatically. There sitting on 400M of inventory. This is already contracted for. Cash balances improve into the back 1/2 of the year, as they turn pellets into cash. This selloff is not being driven by any "liquidity" concerns.

  • Reply to

    Do the Math....

    by vipinkot47 May 11, 2016 9:05 AM
    smallercap smallercap May 11, 2016 9:29 AM Flag

    The fact you don't get it speaks to your investment IQ. Very very Dumb. Here is a hint fool.., large cap, mid cap,small cap, micro cap ! You should consider a new hobby.

  • Reply to

    Do the Math....

    by vipinkot47 May 11, 2016 9:05 AM
    smallercap smallercap May 11, 2016 9:13 AM Flag

    Operating earnings came in at (.37)/sh. The operating business lost money in Q1. The net earnings were from debt gains of close to 200M.

  • smallercap smallercap May 10, 2016 7:43 PM Flag

    Lishe, it is my take on the matter that Cliffs wanted to decommission, and demolish the mine, beginning early 2016, and filed all the necessary paperwork(Wabush Mines Decommissioning & Rehabilitation), to begin work. Then Mayor Colin Vardy intervened , claimed he had an interested party, and staged rallies, where he publicly threatened to line the streets with women and children to keep the demolition equipment away. It was on YouTube. No one took him serious at that time.

    "The mayor of Wabush has taken to Facebook to rally residents, in an effort to keep Cliffs Natural Resources from dismantling its iron ore mine, after the company filed paperwork with the province to do so."
    Cliffs environmental assessment states the company had tried to sell the site, but when it found no buyer, it turned towards demolishing the mine.Vardy disputed that, saying he knows of an interested party.
    Vardy said if Cliffs moves ahead with decommissioning, the site will be close to worthless.
    Vardy wants people to come together at noon on Saturday to rally, and send the message that the site should not be dismantled "If the buildings come down, it's the last nail in the coffin." Vardy wrote in his post.
    In its environmental assessment, Cliffs said it plans to demolish all buildings and infrastructure on site.
    As well, the company owns more than 100 housing units in Wabush, two apartment complexes, an office and the J.R. Smallwood Middle School. The document states if Cliffs cannot sell these assets, it will also demolish them — although it will discuss ownership of the school with the province.
    Cliffs estimates the demolition and rehabilitation work will take up to five years, and employ 131 people.

  • smallercap by smallercap May 10, 2016 5:38 PM Flag

    PNX goes out with a bang. Open block net death claims were $68 million unfavorable to expectations. Six claims with a $10 million retention level, versus the more typical one per quarter. This is routine now. Good luck to Nassau. I wonder if there gonna regret this.

  • Reply to

    US Infrastructure needs.

    by ironorestrong May 10, 2016 2:15 PM
    smallercap smallercap May 10, 2016 4:26 PM Flag

    Right , was that your thesis on Sun Edison? Solar.... FOOL

  • smallercap smallercap May 10, 2016 12:23 PM Flag

    Be careful what you wish for. Clarke's ERP Compliant has submitted a bid for U.S. Steel Canada, valued at about $1.5 billion, including debt, sources have said. It is also said he may be interested in acquiring the Essar Steel Algoma assets, they said. A merger would produce the 4 largest steel maker in North America. And Wabush would be a primary supplier to those blast furnaces, based on comments from Tom Clarke,, How would this be good for Cliffs???

    "U.S. Steel can be financially healthy if the costs of iron ore and coal to produce the coke used in steel making are reduced, he said. ERP Compliant can sell coal to U.S. Steel Canada at cost and is bidding to buy the closed Wabush Mines in Labrador so that the steel maker would have its own source of both key natural resources.
    We want to provide them with raw materials at cost so their finished goods can be more price competitive,” Mr. Clarke said. “That’s where we’ll make the profit.”

  • Reply to

    FORM 4 filed LG steps up

    by smallercap May 9, 2016 5:35 PM
    smallercap smallercap May 9, 2016 7:30 PM Flag

    Maybe, but look at it another way. He now owns 2.5 million shares, close to 3% of the company. If he can turn this boat around, and get the stock up, he stands to make a lot of money! Vested. How many shares did Carrabba own? How many did he sell, while wasting many billions of shareholder dollars, chasing Rio Tinto? Were you paying attention to his constant stock sales? Look it up !

  • smallercap by smallercap May 9, 2016 5:35 PM Flag

    Open market buys 100k at prices of 2.90 to 3.12 today

  • Reply to

    bonds not selling are par value

    by nicknuthals May 9, 2016 11:11 AM
    smallercap smallercap May 9, 2016 12:05 PM Flag

    Well as crazy as that post may sound, it is somewhat accurate(the default assumption). When a company with distressed debt and junk bond ratings, engages in "large transactions" designed to buy debt/tender/exchange at large discounts to PAR, it is in fact, by definition, a "Selective Default", to creditors. The rating agencies, Moody's and S&P, will assign "SD" Selective Default rating, to the tranche of bonds that are effected. Which THEY DID, on Cliffs last bond exchange. The part that makes no sense is "the admitting defeat" and "don't think we will see CLF buy bonds at less than PAR. This is EXACTLY what LG has been doing, as part of the effort to deleverage the company, and will continue to do, per his own words. It's a legal and acceptable strategy...another tool in his box..

  • Reply to

    CASA is OUT

    by smallercap May 6, 2016 5:39 PM
    smallercap smallercap May 8, 2016 4:59 PM Flag

    NNUT you think to WAY too much of these hedge fund investors.......................

    There were 979 hedge fund closures and 968 startups in 2015. Clients pulled $15 billion in quarter in Q1/06, most since mid-2009. Hedge-fund shutdowns outnumbered startups last year for the first time since 2009, HFR said last month. Clients of Tudor Investment Corp. have asked to pull more than $1 billion from the hedge fund firm founded by billionaire Paul Tudor Jones after three years of lackluster returns.

    Nearly a decade ago, Warren Buffett made a million-dollar bet: that by investing in a completely unmanaged, broad-market low-fee index fund, he could beat the gains earned by a high-powered hedge fund with a team of managers at the helm. His opponent was Protege Partners, LLC, a New York City hedge fund with $3.5 billion in assets under management. His simple Vanguard S&P 500 (VFINX) fund has delivered returns more than 40 points higher than those of the hedge fund. “I believe this is the most important investment lesson in the world,” he said.

    Analysis of regulatory filings by Ackman’s Pershing Square Capital Management, and volume-weighted average prices during some periods that shares were purchased, Ackman appears to have lost well over $2 billion on his Valeant investment at current prices

    Casablanca appears to be just a dysfunctional and broke fund , that decided to shutdown, and return capital to investors. And leaderless.

  • smallercap smallercap May 7, 2016 9:07 PM Flag

    clf2016 Probably was a deliberate course of action per there legal counsel, and strategy set. No insider share buys or open market bond buys, ahead of 1.2 billion bond exchange offer in Feb. IMO

  • Reply to

    so, what happened

    by alex_iff May 7, 2016 10:06 AM
    smallercap smallercap May 7, 2016 12:18 PM Flag

    Ya, seems like CASA had a lot of enemies on Wall Street. Even in the end, I think the sale was LEAKED, and cost them another 10/15M. Very poorly done by the CASA trading desk. Totally butchered this liquidation.....

  • Reply to

    so, what happened

    by alex_iff May 7, 2016 10:06 AM
    smallercap smallercap May 7, 2016 11:37 AM Flag

    If they did engage in any type of shenanigans(trading), they broke the law, and could go to jail if proven by a court of law. A 5% holder with Board seats CANNOT "short against the Box", or otherwise use options to short, without filing FORM 4. Very strict rules are in place. So they would have to use hand shake deals with other players, to trade in the company's stock..Possible for sure, but illegal.

  • Reply to

    CASA is OUT

    by smallercap May 6, 2016 5:39 PM
    smallercap smallercap May 7, 2016 11:27 AM Flag

    Column 5 represents the # of shares Beneficially Owned(CASA) AFTER each Reported Transaction in column 4. After each sale, it goes down, and represents CASA's remaining shares. Which is now zero.

  • Reply to

    CASA is OUT

    by smallercap May 6, 2016 5:39 PM
    smallercap smallercap May 7, 2016 11:05 AM Flag

    lishe235..... this is right from the SEC filing on Form 4, as reported by Douglas Taylor, the reporting person for Casablanca Capital LP ("Casablanca") :

    On May 4, 2016, Casablanca sold 576,470 common shares on behalf of the Accounts. Avg price 4.42/sh
    On May 5, 2016, Casablanca sold 2,058,681 common shares on behalf of the Accounts. Avg price 3.96/sh
    On May 6, 2016, Casablanca sold 4,596,369 common shares on behalf of the Accounts. Avg price 3.67/sh
    After such sale, zero common shares are held by the Accounts of Casablanca Capital LP.

    Douglas Taylor retains 14,400 and, 72,319 shares in 2 personal accounts. These shares are held in a trust for the benefit of the reporting person's children. The reporting person's spouse is a trustee of the trust

  • Reply to

    CASA is OUT

    by smallercap May 6, 2016 5:39 PM
    smallercap smallercap May 6, 2016 9:29 PM Flag

    CASA controlled 4 board seats thru there proxy battle, 5 if you include the CEO. Very unique for a 5% holder. Now there gone like the wind. So there is no clear mandate for this BOD. Lame Duck status. I think its possible we may here more M&A chatter from here. It was the path LG took at Metals USA. Can never rule it out.

  • Reply to

    Anyone see the form 4 clf just filed?

    by lishe235 May 6, 2016 6:49 PM
    smallercap smallercap May 6, 2016 7:50 PM Flag

    Your misreading the Form 4. Douglas Taylor has retained ownership of a total of 86,719 shares of Cliffs, per the SEC filings.

  • Reply to

    Anyone see the form 4 clf just filed?

    by lishe235 May 6, 2016 6:49 PM
    smallercap smallercap May 6, 2016 7:09 PM Flag

    Yes.Taylor is the reporting person for Casablanca Capital LP. I think he still has a few shares in the family trust account, but I would expect him to resign. This was a disaster for him and Drapkin, from the get go.

  • Reply to

    CASA is OUT

    by smallercap May 6, 2016 5:39 PM
    smallercap smallercap May 6, 2016 6:39 PM Flag

    There was nothing in the senior bond trading this week that indicated this was related to MT. Do not think they sold on insider information. I'll take them at there word on this. Loosing 170M is one thing, going to the joint is another.

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