Orion Marine Group, Inc Message Board

connjobb,

<And $1.07 billion in debt. Yippee! Ho...>

You are overlooking GSI's nearly 300 mil in cash and 7 mil metric tons of capacity of which approximately 50% is covered by a 20-year UMA and represents all new state-of-the-art production facilities favored by below the market supply agreements for both iron ore and coal.

AKS (in the US) is probably closest in size to GSI with 8400 employees vs GSI's 6600. AKS, which has revenues of approx 6 bil has a market cap of 1.7 bil; GSI has revenues of 2 bil and a market cap of 93 mil.

Plus PRC annual growth rate exceeds US by several times.

I like that.

specsit.

I am long GSI.

connjobb,

You are very good at looking backward and noting GSI's debt position.

The issue is what will happen in the future, and whether the acquisitions taken on with debt actually pay off.

Meanwhile, the partnership with Shaanxi and transition to PWC are both recent events AND promising for the future, as are the addition of active PR and second consecutive stock buyback. Not to mention $2b of sales in a section of PRC where infrastructure improvement is at the center of the next 10-year plan.

JMO.

specsit.

I am long GSI.

I, also, would be interested in the reason(s) for your statement.

specsit.

I am long AWP.

connjobb,

I must have misinterpreted your comment:

<You mean taking out the trash!>

I guess you were referring to the act of rebalancing a portfolio.

In any event, lets drop the subject.

Congrats on a good day on the short side!

specsit.

I am long GSI.

A LOT!

In the real estate business, correct use of the dumpsters is a major profit center.

specsit.

connjobb,

Remiinds me of a sign I used to have posted on my office wall:

"Your trash is my cash".

GLTA.

specsit.

I am long GSI.

connjob,

Thanks for your comment on asset distribution.

Personally, I have the appropriate level of long stock in GSI that a bet of this quality merits IMO.

The company PR piece speaks for itself:

http://finance.yahoo.com/news/General-Steel-Announces-prnews-2273271809.html?x=0&.v=1

I am long. You are short. I am simply betting that GSI's market penetration and strategy will be successful over the long terms.

To date, you are successful as a short.

GLTA

specsit.

jaret,

Based on today's Updated Assessment from NTE your March 15 comment looks pretty much "right on."

http://finance.yahoo.com/news/Nam-Tai-Electronics-Inc-prnews-522633545.html?x=0&.v=1

The question now is what do reasonable 2011 estimates look like? Certainly, there is a major revision to do.

Dust off your calculating machine.

The wheel turns!

specsit.

I am long NTE.

Oh, geeze.

Stop whining.

You bought the stock.

So management has to go?

Try looking in the mirror or just sell your position.

specsit.

I am long XRTX and quite satisfied with the risk reward proposition I purchased. All that is required now, IMO, is patience which I have plenty of.

max,

Q. When don't the shorts dig in their heels?

A. When they're NOT
professional shorts.

Have a great m-day weekend.

specsit.

I am long KLIC.

Agree with that.

Plus, its all on the current side of the balance sheet.

Will Henry "fix" that or fold on his 30% equity share?

Stay tuned.

specsit.

I am long GSI.

soft,

Hate to burst your bubble on Mittal, but I think the public/private UMA makes that unlikely.

FWIW.

specsit.

I am long GSI.

connjobb,

Thanks for your take on the GSI "fail to earn" analysis.

It is absolutely well deserved to date.

For me, GSI is a speculative bet on the future. It is clear they have/are spending big $ on accounting, PR, and even their NYSE listing. The Shaangxi Unified Management Agreement is a significant operating strategy recently concluded.

But it all boils down to if they begin to add retained earnings to their balance sheet.

These earnings should be substantial given their enlarged sales and substantial share (about 70%) of their relevant (regional) market. As I understand it this share is consistent with the PR ten-year public/private steel company landscape.

Stay tuned.

GLTA.

specsit.

I am long GSI.

Do you have a particular price target?

A particular reason for being short at these levels?

Just interested.

specsit.

I am long GSI.

connjobb stated that he was short 15K shares @4 and change.

No specifice reasons given.

specsit.

I am long GSI

craig,

GSI is NYSE listed and an SEC reporting firm.

Their auditor beginning Q2 2011 is PwC and will be for the year ending 12.31.2011.

specsit.

I am long GIS.

She will run.

The recent convert move to illogical premium is just the first indicator.

The sharp increase in short positiion is probably related to that:

KLIC
Kulicke and Soffa Industries, Inc.NASDAQ-GS
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
5/13/2011 4,605,869 4,130,996 1.114954
4/29/2011 3,311,283 1,017,575 3.254092
4/15/2011 3,340,859 984,081 3.394902
3/31/2011 3,577,108 1,082,922 3.303200

specsit.

I am long KLIC.

sd,

To put some numbers on your JV discussion, they are ESEA, $25m, and the other two JV partners - Rhone and Eton Park, $75 mil apiece - for a total JV of $175 mil.

http://www.euroseas.gr/press_releases.html?irp=pr2&relid=57948

As a comparison, at a price of 5, the total ESEA market cap would be about $150 mil.

specsit.

I am long ESEA.