Post by
farmerman on Dec 13, 2014 9:49am
A VERY MERRY CHRISTMAS
Well my moola in this is done
But
I find a wierd sense of satisfaction
if STP goes broke management will have a tough time finding a job
Yes they can open some other kind of play but if your an engineer and the whole sector is
in the toilet what use to another play in some other industry are you.
I don't like to use the word loser, I like to think act with the best intention (this is slowly being ground out of me)
But I hope lutes is over financed and looses his home, heck I hope he looses everything
Home, car, wife, family career etc
The buck stops with management, raising money to drill out senlac and not doing it was irresponsible to say the best.
To put the company in a review, lock down news, do a news release to get production up and thats what saying the money to drill out senlac was. Then not doing it and we cant tell you why.
Where is the fiduciary obligation?
So if you guys feel that is honesty and that is how things are done it is your right to offer that opinion. You all know what mine is and as such I believe that he deserves to loose everything.
Sadly he will probably come out on top
IMHO
Comment by
farmerman on Dec 13, 2014 9:51am
this sentance I like to think act with the best intention was suppose to read l kike to think PEOPLE act with the best intention
Comment by
farmerman on Dec 13, 2014 11:02am
I am glad to see i am not the only one who thinks saudi is shorting the market
Comment by
Pandora on Dec 15, 2014 12:49pm
Well we're down to 1/2 cent on over 3 million shares -- is it over? Will someone be left to turn off the lights or will Santa have something in his bag in return for our milk and cookies?
Comment by
ShatnersRug on Dec 15, 2014 12:57pm
The idiot(or genius) who has a bid in at 0.04 cents for the debs would be lucky to get filled. Let's assume that he can get 1000 at face value $100. @ 3% that would normally pay $3000 come Dec 31. If shares are issues instead, that's 300,000 shares at a penny. If the guy turns around and sells the 300,000 shares the next day(at 0.005), he gets $1500. Gross +$1100
Comment by
ShatnersRug on Dec 15, 2014 12:58pm
Of course, there's gthe accrued interest to think about... but still. It derisks the initial purchase considerably.
Comment by
ShatnersRug on Dec 15, 2014 1:19pm
Actually, I miscalculated by a 0. A $40 purchase for the debs at 0.04 So gross profit (not including accrued interest) would be $1460
Comment by
ShatnersRug on Dec 15, 2014 1:40pm
The debs just sold at a penny!!!!
Comment by
farmerman on Dec 15, 2014 3:39pm
Well I tried to pissss away another $100 to buy some debs at a penny but waterhouse wouldnt take my order Ill use it to buy some whiskey likely a better invest reward scenario Dave
Comment by
ShatnersRug on Dec 15, 2014 3:50pm
lol Dave. Yeah for debs you gotta make a call and speak to a Waterhouse idiot. Still same commission rate though. 7 or 10 bucks or whathaveyou.
Comment by
bambus on Dec 15, 2014 4:09pm
why are people still buying, and why there are still bids at 0.005 for common share holders...holly f#$#@
Comment by
bambus on Dec 15, 2014 4:40pm
Shat you called it... I remember you telling me when it was at 0.05 that it will soon be at 0.005... you were bang on... Darn...just tell me what you buying and selling next and I'll just fallow ;)
Comment by
nikehercules on Dec 15, 2014 5:23pm
Incredible! The debs have a market cap of $8,630 bucks. That might be enough to buy a used Toyota Corolla. I wonder what the second lien is trading at. Will Credit Suisse even be made whole????!???
Comment by
jaffnaguy2014 on Dec 15, 2014 8:47pm
Shat, I called TD waterhouse to place an order but Rep told that I have pay interest to seller. Is it true? I never play STP.DB.
Comment by
birdie22 on Dec 15, 2014 10:45pm
Yes around $2.80 +/-per unit so that would be $2.90/unit at .05 cents so now how dose .05 cents look ? Huge risk they may not pay Dec.31 interest payment and default that is why they are at .05 cents. but canot buy very many at .05 cents I`d say none.
Comment by
nikehercules on Dec 15, 2014 10:46pm
@jaffnaguy2014 The debs have not officially defaulted, so the buyer is responsible for paying 6 months of accrued interest. If you're interested in playing the debs, buy them in 2015 after the Dec. 30 payment is hopefully made.
Comment by
burtyburty on Dec 17, 2014 3:17pm
What do you mean pay? You get the interested when you buy em and pay it back when you sell em. No buyer has to pay 6 months of interest?
Comment by
ShatnersRug on Dec 17, 2014 3:43pm
burty? burty???
As in birdie...
https://www.youtube.com/watch?v=qYCth6-8aYA
Comment by
birdie22 on Dec 17, 2014 4:31pm
Thanks for the laugh Shat, he was great comedian/actor. and yes burtyburty the buyer pays the interest from 0 to 6 months depending when they buy and hopefully get it back if ( STP ) Company pays June-30th and Dec.31 payment dates . So at this poit even .005 cents has a $ 2.85 interest payment tagged to it.
Comment by
bambus on Dec 18, 2014 12:13am
How long you guys think this review is gonna last ?
Comment by
wdr2 on Dec 15, 2014 12:54pm
And just where do you think are Arab friends learned about shorting the markets.Yup thats right from our Hebrew friends on Wall Street.The tides have turned for a change. wdr2