So, since the company was in hiding this entire quarter, I thought it might be fun taking some bets on what will be said with the earnings announcement/call this week. A number of you know Miller and this company reasonably well, so let's hear what you think.
GAAP/unadjusted EPS for the quarter:
10-1: Loss of more than $1/share
7-1: Loss between 50 cents/share and $1/share
3-1: Loss of 25 cents/share up to 50 cents/share
3-2: Breakeven to a loss of 25 cents/share
5-1: Profit of up to 10 cents/share
10-1: Profit between 10 cents/share and 25 cents/share
50-1: Profit between 25 cents/share and 50 cents/share
100-1: Profit over 50 cents/share
Excuses given for non-movement on TGGT:
3-2: "I did say 30 to 60 days, but sorry, it is taking longer"
2-1: "We are still in discussions with some parties that I can't discuss. We'll make an announcement when we are required to, not before"
4-1: "We are so very close, but we are still working on the final details"
10-1: "Unfortunately the parties we were talking to were looking for garage sale pricing and we were not going to give it away"
10-1: "We really want to sell our stake, but BG is not being flexible, and the potential buyers we're negotiating with want the whole thing"
25-1: "Well, we've decided to take it off the block and not sell"
25-1: "I wish I could tell you more, I really do, but Marcia won't let me"
If anyone else has questions and ideas about what might be said to address them, add your own.
...from May 2.
Not happening folks. Nobody wants it for the asking price - overvalued. Do you really believe there were a couple offers?
Will love to see how much debt has gone up over the last quarter.
These boys are in serious trouble.
Subash - time for an update...don't hold back.
Joseph D. Allman - JP Morgan Chase & Co, Research Division
Got you. That's very helpful. And then, Doug, could you just give us a timetable on these -- I think you said with the JV, we should expect to hear something within the next 30 days. What about the TGGT deal? When...
Douglas H. Miller
We have a couple of offers. We have a couple more people coming in to look. We're scheduling them right now. I'd love to say 30 days, but give me 30 to 60.
Joseph D. Allman - JP Morgan Chase & Co, Research Division
Okay. Any other transactions we can look forward to?
Douglas H. Miller
You never know.
No insider buying.
Last transactions were a week ago, and it was giving directors their free shares as compensation for being directors.
Go to sec.gov and see for yourself.
joelle knows squat.
"Give me 30 to 60 days".
The market realizes once again, as I've posted here and told you all - it isn't happening, and just as always, he says what he has to to forestall the day of reckoning.
We are now absolutely beyond 60 days - wake up - it isn't #$%$ happening.
Great rebuttal. Simply brilliant. Your parents would be proud of the exrement they created with such intellect. Typical of folks like yourself who infest Y! - when you can no longer dispute the facts, start the name calling.
No, I have no reason to apologize, because I am right. You, vig, ram, and every last person here who is claiming 3.9M shares purchased is wrong.
This is a very good thing in my mind, because it shows without question how very uninformed most "investors" are. How many people do we have here now claiming 3.9M shares were purchased? And only two (myself and I believe one other) who correctly understand it was only 1.3M shares.
If anything, you should likewise be apologizing to me. Get in line.
Apology accepted - thank you for once again admitting that the SEC Filings confirm the total purchased was 1.3M. You've already admitted as much, no need to continue.
Wilbur is not on a buying binge. It was a typical/periodic purchase throwing good money after bad to average down a bad position.
It is as extraordinarily bullish as his purchases in August at over $15/share.
Here are links to the actual Form 4s. Read each of them carefully including references to the footnotes. Based on your command of the English language and unambiguity of it, you should be able to decipher what it is saying.
No, we don't disagree - I am right, you and the other guy here are wrong. Call it "unambiguous English" if you like - 3.9M is not official, 1.3M is offical. It is not the number of shares traded, but the number of shares traded "represented by the Form 4". There is a difference, and if that is ambiguous English, then that's the way it is, because that is the meaning of the three filings.
Let me spell it out for you by explicitly stating what the filings indicate. Yahoo and everywhere else that aggregate filings have no way of interpreting what the notes on the Form 4 filings indicate and so you just get a line for each of the Form 4. Folks like yourself, who think they know everything, and merely look at websites that show summary information don't know any better and just repeat what they think is "unambiguous English". But, with SEC Form 4 filings, there are quite a few ways that the English does make it ambiguous and there are many examples of filings which prove that.
1. If you look at the two SEC Form 4 filings for the WL ROSS & CO LLC funds (which you aren't since you're just looking at single lines on sites like Nasdaq and Y!) you will notice a line in the notes section of each, indicating that there were two Form 4s submitted because of the long list of Reporting Persons that could not fit on one sheet.
First Form 4: Remarks:
This Form 4 is being filed in two parts due to the large number of Reporting Persons. Please reference the Form 4 filing filed on the date hereof separately by WLR LLC, Parallel Fund, Invesco Private Capital, Inc., INVESCO WLR IV Associates LLC, WLR/GS Fund AIV, and WLR Master.
Second Form 4:Remarks:
This Form 4 is being filed in two parts due to the large number of Reporting Persons. Please reference the Form 4 filing filed on the date hereof separately by WLR LLC, Fund IV AIV I, Fund IV AIV II, Fund IV AIV III, Co-Invest Fund AIV, El Vedado, LLC, WLR LP, Fund IV and WLR Select.
2. So, the above accounts for the 1.3M shares total as distributed across the 15 funds listed on the two forms. Now, the third Form 4 which is for Wilbur. The 1.3M shares indicated on it is not shares he purchased. Those are the same 1.3M share reported on the other two by the funds. Because Ross is a director, he is required to report indirect ownership of related party purchases. So, again, it is duplicate reporting of the same 1.3M shares.
Once again, there were only 1.3M shares traded - two filings for the 1.3M shares across the 15 funds, the third for Wilbur and his indirect ownership which he has to report being a director. He is the indirect/beneficial owner of the shares. The same filing scenario would take place if Wilbur's wife were a 5% owner and she purchased shares. She would make a filing for herself and Wilbur would likewise make a filing for those same shares exactly the same as was done here. Same shares, required to be reported multiple times.
There is no disagreement, you are wrong.
Then you agree to be wrong - it was only 1.3 million shares triple counted.
Has absolutely nothing to do with all by a Ross-owned company.
If you understand how to read the SEC Form 4 filings, this is a silly discussion because folks like yourself are simply proving you don't know what you're looking at.
You can post 3.9 million shares as many times as you like, but that's your biggest mistake because it was only 1.3 mllion.
You are entirely wrong so you may as well just give up unless you enjoy continuing to show your stupidity.
Jon Corzine told the people of NJ that he was their man specifically because of his illustrious business background.
Be careful what you ask for.
You bet it is an insightful post, and if Wilbur were hanging out here, he might not own as much of this garbage as he does today, have a better looking portfolio and more money in his wallet to show for it.
Now 5 weeks from that statement and still no sale of TGGT.
But, we also know he then said "...well, give me 60". Who thinks it's really going to happen in the next 3 or 4 weeks?
Any naive/gullible folks here that actually believe anything the bozo says? If so, you haven't learned your lesson yet.
But hey - "Wilbur says..."
If a TGGT sale doesn't happen by July 4, you will see XCO making a new 52 week low, guaranteed.