$28 is the takeover price target (such as Cummins might offer). The issue is when a takeover will occur. This Canadian technology is receiving increasing acceptance worldwide. Thus, numerous takeover sharks lurking out there for this company.
Going to around $22.50 gap point before it bottoms. If it breaks that, $20 should hold ok.
Add to that under funding pension obligations. OBLIGATIONS.
If I were to fail to make car payment OBLIGATIONS to Ford, a tow truck would take the car.
Ford has decided to make a dozen new types of vehicles instead of focus on quality of the ones they already make = self destruction.
Next these companies will give themselves huge year-end bonuses to ensure even faster self destruction.
Other companies have sued their joint partners in China when they failed to fulfill their partnership agreements. Abbot Labs recently won as have many others.
China is the country you can NEVER trust. NEVER.
This does not look good for next quarterly report.
1. Accounts Payable Rose from $9,405,000 to $25,710,000 (nightmare).
2. Net Receivables: Rose from $3,009,000 to $3,180,000 (good).
3. Tangible Assets: Worsened to a negative $17,630,000 from a negative $13,261,000 (bad).
4. Retained Earnings Worsened to a negative $98,506,000 from a negative $91,901,000 (bad).
5. Short/current LT Debt worsened to $3,180,000 from $1,731,000 (bad).
I am amazed this company has, to date, survived.
If it was 100 billion the stock would drop to 100.
1. IPI is doing and will continue to do just fine as the best value in agriculture today. In fact, it may be a buyout target.
2. AGU dependence on potash is miniscule relative to its total business and is highly diversified making it a virtual moat in the industry. Its moat is worldwide diversification in multiple products. That is why its past 10 years has beaten Google in growth.
3. POT is indeed heavily dependent on potash but has bottomed.
4. There is one fact of life you miserable shorts cannot face in the mirror: Agriculture is second only to water and air in meeting the needs for human survival.
Other sources of lithium like China and India have virtually zero reliability due to massive corruption and asset seizures. There is virtually 0.00 transparency in those countries. Zero.
But, that does not make SQM a buy because its share in the lithium industry is something like 1 percent.
1. Total Stockholders' Deficit doubled to (17,630,000) from (8,769,000).
2. Retained deficit now around 98 million which is several times what the bank is worth.
3. Tier ratios are abysmal.
Not for me.
:20PM Newcastle Investment announces agreement to acquire $1 bln of senior housing assets from Holiday Retirement (NCT) 5.41 -0.15 : Co announced that it entered into an agreement to acquire a 52-property portfolio of senior housing properties from certain subsidiaries of Holiday Acquisition Holdings LLC for approximately $1.01 billion. The Company expects to invest approximately $300 million of equity to acquire the Holiday Portfolio and to fund the remainder of the purchase price with non-recourse mortgage debt. The Holiday Portfolio includes 52 independent living properties with 5,885 units located across 24 states. The Portfolio is 100% private pay and had an average occupancy rate of 91% as of September 30, 2013. Concurrently with the closing of the Holiday Acquisition, the Company intends to enter into two triple net master leases with affiliates of Holiday with first-year rent equal to 6.5% of the purchase price. Upon closing the Holiday Acquisition and other committed transactions, the Company will have invested approximately $600 million of equity in senior housing assets. The NCT Senior Housing Portfolio, inclusive of the Holiday Acquisition and other committed transactions, includes 99 properties with 12,347 rentable units, and is targeted to generate a 17% FFO yield in 2014.
You are right Roy was: "President/Managing Director, Whirlpool Greater China"
At the very least he should know what he is dealing with given the Whirlpool appointment.
This is all conjecture but based on my many years working in Asia.
1. Cooper did not use USA accountants in its quarterly audit of its Chinese partner.
2. Apollo likely knew this and may have conjured up a plan to take advantage of the same.
3. Both India and China are famous for absconding with property of their business partners with the stronger winning.
4. Cooper likely has nobody on its Board of Directors or senior executive management who is highly experienced in working with and managing corruption (in this case Asia but can be likewise in Latin America and Africa).
5. Cooper likely did not hire American lawyers with experience working with China which resulted in lack of ongoing over sight. But, using the right legal counsel, on can win in the end. Case in point: Beckman Coulter, Inc. won a $15m settlement from a Chinese partner using proper counsel:
Note: "Beckman Coulter Inc. In connection with this settlement, Mindray will take a litigation related charge of approximately $15 million in the fourth quarter of 2013."
Suggest Cooper secure similar legal assistance.
6. Many American companies make this same mistake and their Chinese partners seek naieve folks like Cooper.
My advice to Cooper:
1. Let this Apollo thing take its course. Let shareholders decide in another vote. Anything under $35 and I will vote NO.
2. Hire legal assistance similar to Beckman Coulter, Inc. did. Sue the Chinese partner to recover whatever they can. Do this IMMEDIATELY.
3. Send complaints to senior authorities in China.
4. Cooper stock is extremely CHEAP and their are plenty of buyers out there if they market their "strategic alternatives". Hire advice for this marketing. No need to pay expensive fees for this (there are lots of high integrity smaller players).
If you do business in China it is MANDATORY your accounting people are physically IN CHINA and are NOT Chinese.
Best advice: NEVER do business with China or invest in China. You will LOSE 95% of the time. Corruption galore.
The horrific business practices of the Chinese partner is adding to the shame of doing business in China.
Is it worth it? I don't think so.
This is simply one more to add to the list of bankruptcies by China based companies listed on USA markets.
Trees, hogs, poultry breeding, technology, solar, ............. more companies going belly up.
Question: Why is ANYBODY buying China based stocks?
Chengshan had flirted with making a bid for Cooper before the Apollo deal was signed.
TIme to fish or cut bait for all China investments by ALL corporations.
China is gaining the reputation of ABSOLUTE CORRUPTION based on what I have read.