Problem is one cant known in advance when dips are dips. Plus, its not cost effective commission wise to buy small amounts.
Biglari is spending a lot of money bidding on the other 2 stocks.
Is this rational or is this an out of control ego ?
Well, the old CFO was apparently working out of Florida. An out of town CFO doesn't inspire confidence.
But I don't think we can presume the change is positive.
Klingle has 100% control. Paying a premium to buy out everyone else makes no sense.
Indeed, he can sell his control stake to someone else at a premium if he wanted.
Our best bet is to wait for him to die and hope the company is sold then. But even then, why wouldn't his widow just sell her control stake at a premium and leave the rest of us where we are ?
NAV or book value isn't really relevant. LOAN is trading on its dividend.
I get about $2.51 per share diluted at the end of the 3rd quarter.
Using $13.883 million divided by 5527 diluted shares.
It might be slightly less because the share count may not reflect the entire offering.
I guess Im more qualified to be their IR firm than the firms they are paying. lol
(LOAN) announced today that its board of directors declared a $0.08 quarterly dividend instead of the $0.07 quarterly dividend that was previously declared. The dividend will be paid to all shareholders of record on January 10, 2015 with pay date on January 15, 2015.
The board has not changed the $0.07 quarterly dividend that is set for April of 2015
Kicking myself for not buying more below $2.50. Was thinking it might test $2.
If we presume they will go to 8 cents, its still a 9.17% yield at $3.49.
Nice to see this stock attracting yield buyers.
Analyst Wilkes Graham commented, "The Board announced a voluntary liquidation in April 2014 which was approved by shareholders on August 5, 2014 allowing for a 2-year liquidation period. The company's detailed asset-level disclosures provide for a solid basis from which to estimate future liquidation proceeds. We arrive at a Liquidation NAV of $21.03 compared to the company's recent estimate of $18.35. The most critical asset in our NAV is 20 Times Square, the company's $1B hotel/retail development in NYC. In this report, we lay out in detail the assumptions in our Liquidation NAV model and note that the longer FUR waits to sell its interests in assets in which we ascribe NAV upside, the greater the potential returns for shareholders along the way. Further, management, led by Michael Ashner of previous liquidations lore, could sell the company at any point, thereby accelerating returns."
This is from the same guy that most of us wanted gone way back when.
Not sure how it all went down but its nice to see.
Book value is up to 75.3 cents (I think) And future imprved profitability is very likely. "We look forward to continued improvements in the operational results going forward.”
Seems to me the stock should be trading for at least book value. Possibly $1+.
Type messageThe FACTS are solidly on my side. TRUTH is on my side.
GAAP losses of over $64 million.
Nuway oil & gas=Belly up.
Nuway Medical=Belly up
Beep for free=Belly up.