My only argument is theres a reasonable chance that SO falls back to $48-49 anyway. If not lower.
Im not willing to sell my position based on that possibility but stopping the dividend reinvestment is something I would consider.
My broker, Fidelity, has a lot of good things going for it, but their page where one can change the dividend reinvestment options is like something out of the 70s. Poorly designed and it doesn't update until the next day.
Another concern with SO is the huge amounts they keep writing off related to nuclear.
I get the patience part. Ive been investing for nearly 30 years. Its just that SO was my first utility.
I suspect the landlords of the closed stores will be stiffed but the other creditors should get more than 10%.
Of course, Riley will have first dibs on everything. Their $20 million is ahead of everyone else.
Maybe if they get 10-15 people in a room, they can brainstorm and figure out a way to serve me.
You already spent the $435 to file suit. And you aren't even going to serve me ?
I feel cheated. Plus, I was kind of looking forward to learning how to get the frivolous case thrown out pro se.
Tell you what, for a consulting fee of 50,000 shares I will go ahead & file an appearance and get the case thrown out.
(This is a JOKE, not an actual offer of settlement)
Last night would have been a good time to serve me, I went to my nephews high school basketball game.
My nephew is probably not good enough to walk on at Wake Forest, but I feel pretty confident he wont cheat people for a living when he gets older.
Well, Ive seen the stock take off & them not get anywhere near enough shares tendered. (BAMM)
Since I sold half at $14.94, I really don't know what Im going to do.
I doubt they could give away either the "business" or the ship wreckage with all the court mandated #$%$.
A reverse split. A massive money losing business. A private placement for anyone who wants to call in ?
Still no filing. (As of yesterday)
Stock inching down to $14.50.
I forgot to mention that TWMC also had a tender offer. Last year at $5.10. I did nothing and the stock was in the low $3s yesterday.
Millers form 4 for yesterday...
Bought 244.607 at $3.175 avg.
And today, the volume is 188k+ so they almost certainly bought more.
Miller has been buying for months now but this was their biggest block recently.
Stock is up to $3.24-3.29 apparently as others saw the form 4 and join in.
I paid $3.11 for mine.
I don't get the impression Sweetwood is the guy. Plus he is 66 and might not want it.
On the other hand, if the company is in play, a buyer might want their own man as CEO.
Selling it for $12-13 would be fine with me.
During a Dec. 9 conference call to discuss Pep Boys’ quarterly financial results, Sweetwood addressed the search for a new CEO. He said on the call that “the search is well underway” and Pep Boys is “moving diligently to have a new chief executive onboard as soon as possible.”
An analyst pointed out that Pep Boys’ prior CEO had a strong background in service and retail. (Odell joined Pep Boys in 2007 after a stint as the executive vice president and general manager of Sears Retail & Specialty Stores. His background also included time as vice president of stores for the Sears Automotive Group.) Sweetwood was asked if Pep Boys is looking for something different in its next chief executive.
“We’re looking for someone who is strong in service, hopefully has some retail,” Sweetwood said. “We view this as a pretty plum job actually — for someone to step into a business that has a tremendous amount of potential, that has a one share of a $200-billion market and participates with no dominance in the service area. It’s a very, very fragmented market. There are no barriers to success in the industry in our area of focus. So, we’re looking for the person who can energize us around that.”
He added that, at this point in the search, “we’re still at the top of the funnel; we’re looking at everyone.”
Different firms do it different ways.
And even the company has their own DRIP.
Fidelity says : Dividend reinvestments are priced at the average price that the security is purchased by Fidelity.
Fidelity pre-identifies all customers that will be reinvesting their dividend and goes to the market to purchase shares three days prior to the payable date. We purchase as many shares as possible on a best-efforts basis, determine the average share price, and reallocate these shares proportionately to the customers that are reinvesting their dividend. This process typically results in a different reinvestment price than the price that the security is currently trading
Disclosure is the only reason the SEC hasn't shut this company down by now.
Its fairly obvious whats going on here. Its disclosed.
That said, I know they have put out 12 years of false & misleading press releases. Almost all made to sound "material" but none requiring an SEC filing. (Which means they were not material at all)
I am on record as calling him a criminal, a con-man and the company a scam.
I believe that to be 100% true. An any objective observer would agree.
This is a worthless company with a $29 million market cap.
They have no prospect of ever having material revenues let alone earnings. Its all smoke & mirrors.
Its not practical to short it. If it was, it wouldn't have a $29 million market cap.
Anyone think a buyout of Biglari might be on the table ?
As a BH shareholder, Id king of like to see them cash out of some or all of their CBRL position.
But, Biglari might be willing to hang in there for the long term and get control later on.
He will probably live longer than anyone on the board.