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Flaherty Crumrine Total Return Fund V.FLC


Primary Symbol: FLC

Flaherty & Crumrine Total Return Fund Incorporated (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide its common shareholders with high current income. Its secondary investment objective is capital appreciation. The Fund invests at least 80% of its total assets in a diversified portfolio of preferred securities and other income-producing securities, consisting of various debt securities. It invests at least 25% of its total assets in the financial sector, which is comprised of the bank, thrifts and mortgage finance, diversified financial services, consumer finance, capital markets, asset management and custody, investment banking and brokerage, insurance, and real estate investment trust (REIT) industries. The Fund also focuses its investments in other sectors, such as energy, industrials, utilities, communications and pipelines. Flaherty & Crumrine Incorporated is the investment advisor of the Fund.


NYSE:FLC - Post by User

Comment by Dougthebugon Dec 20, 2012 2:57pm
317 Views
Post# 20757185

RE: RE: Tried to contact Hoss

RE: RE: Tried to contact Hoss

Reading through the reports...I am trying to pieces together what may be happening here.

 

The insiders own 35% of the stock.  They may have paid themselcves a bundle over time.  Took the money and lent it back to the company as secured creditors.

Now the comapny is in a tailspin.  They put it into receivership/bankruptcy, and take all the assets for the loans they have against the assets.

 

The ceridtors and the shareholders are screwed.

 

I heard they have been offered .02 cents for 60% of the company and a promise to deal with the creditors and save the company for the 40% who want to stay in....I'd sell at .005 if you can, because Hoss won't make a deal if he can take everything for what he's put in.

 

 

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