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accelerated vesting in case of a significant ownership change.
accelerated vesting in case of a significant ownership change.
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“It is no use trying to 'see through' first principles. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.”
― C.S. Lewis, The Abolition of Man -
Vesting is 1/3rd a year for three years (which is better than I've had in the past) with accelerated vesting to 100% in the event of buyout.Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...Comment
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Newsweek has put "Recession" on its front cover. In the past, this usually means the market bottom is very close. Let's see how things work out this time. However, since the stock market looks ahead, business cycle may not bottom out until 3-6 months later.Comment
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The stock markets are as likely as not to be perfectly fine while the rest of the economy crumbles like the wall of Jericho. Sometimes they synch up, as in the last recession, sometimes they don't as in the previous recession and the previous crush.
The best indicators are jobs, new housing starts, etc.Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...Comment
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S&P just revised down S&P 500 2007 core earnings again -- from $74.35 a share to $73.06 a share.
2007 is a year of increasingly shrinking profits -- now estimated to be down 10% on the year. There's still a small piece of earnings season to go.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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& in UK the Northern Rock shareholders are *****ing about the prospect of Virgin Buyout, or Nationalization...
In what world do shareholders of a bust, but taxpayer bailed out company have a word on what happens with it, IMO they should shut up or put up the 25bn themselves if they are so sure in the success of the company they own.
as for the recession - I would be surprised that this one is only 6 months, I would bet that with the housing slump just gearing up in US, and expected to follow up in UK, Spain, Ireland + some others there is a lot more to come...Socrates: "Good is That at which all things aim, If one knows what the good is, one will always do what is good." Brian: "Romanes eunt domus"
GW 2013: "and juistin bieber is gay with me and we have 10 kids we live in u.s.a in the white house with obama"Comment
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/me nods head in agreement.Originally posted by OneFootInTheGrave
In what world do shareholders of a bust, but taxpayer bailed out company have a word on what happens with it, IMO they should shut up or put up the 25bn themselves if they are so sure in the success of the company they own.
As for the UK housing market, you'll have to tell me when I can declare victory against Dr Spike in this thread. Looks like the market is giving it its best shot...I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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A ticker tape parade, just in time to cheer on the bears!
Dow, S&P 500, and NASDAQ each down 3%.
It got downright ugly in Europe again, with Spain down 5%. France down 4%. Another Societe Generale?Attached FilesLast edited by DanS; February 5, 2008, 17:55.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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So Warren Buffett says he will reinsure AMBAC's and MBIA's policies on municipal debt. The stock market rallied, while the stock of AMBAC and MBIA each sank 16%.
It's tough to read the reason why this happened, but maybe Buffett's action was seen as giving S&P and Moody's permission to downgrade AMBAC and MBIA without the specter of the whole municipal debt market imploding. It was an odd situation to see S&P and Moody's hesitate to downgrade AMBAC and MBIA, when it was evident that they didn't deserve the AAA rating. I'm guessing that S&P and Moody's will proceed to downgrade these folks.
If this guess is true, then Buffett did no favors to the banks exposed to AMBAC and MBIA-insured non-municipal debt. AFAIK, chief among those exposed is Citibank. But Citibank's stock was up 2% today.
/me scratches his headLast edited by DanS; February 12, 2008, 17:22.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Whitney Tilson is a very successful portfolio manager and long term Berkshire Hathaway investor, his explanation of this matter seems to be the best so far.Comment
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But why does Citibank go up?
In any event, very interesting interview. Like me earlier, Buffett pointed out the absurdity of a AAA-rated company paying 14% on a bond.
Buffett: Well, when a company issues a 14 percent bond when U.S. Treasuries are below 4 percent and it's rated triple-A, we've now seen the cow jumping over the moon.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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S&P 500 2007 earnings now down to $72.09 a share, even before Sprint/Nextel and AIG announced.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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investors have no clue what they are doing, a totally new situation and it will take a while for them to understand the impact of all this...Socrates: "Good is That at which all things aim, If one knows what the good is, one will always do what is good." Brian: "Romanes eunt domus"
GW 2013: "and juistin bieber is gay with me and we have 10 kids we live in u.s.a in the white house with obama"Comment
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UK house prices suffer biggest fall since 1992
By Emma Thelwell
Last Updated: 4:17pm BST 08/04/2008
House prices across the nation saw the largest monthly fall since 1992 last month, according to Halifax, prompting the country's largest mortgage lender to cut its forecast for prices for the rest of the year.
Halifax, which is part of the HBOS group, reported that property prices fell an average of 2.5pc overall, and as much as 5pc in some areas.
The lender, which previously had predicted flat growth for the current year, now expects a "low single digit" fall in house prices this year - indicating that prices could fall by up to 5pc.
Hmmm...Last edited by DanS; April 8, 2008, 17:29.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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And S&P 500's 2007 earnings are almost compiled... at $70.83/share, a 12.6% reduction for the year.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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