Hiding Bear Posted July 21, 2004 Report Share Posted July 21, 2004 Welcome to B4 The Bell! The Empire strikes back against a bearish market trend. Mr. Softy wants not only to pay out a big dividend to help the Gates Foundation, but thought of a clever excuse to reduce the price of existing employee stock options. This excerpt from their news release won't be found in your business news this mroning: Because the company's employee stock plans did not contemplate a one-time special dividend, the board has approved adjustments, subject to shareholder approval, that will protect employees as the share price declines due to the one-time special dividend. Mathematically, after a company makes a large one-time distribution, the overall value of the company declines by the amount of the distribution, which in turn reduces the stock price by a similar amount. "The innovations our employees have created over the years have made our company successful, and our stock compensation programs have been a critical part of our ability to create this shareholder value," Ballmer said. "Adjusting the stock options and unvested stock awards held by our employees to offset the impact of the special dividend is a fair and logical step to ensure that our employees are not inadvertently disadvantaged by it. " Adjusting employee stock options for dividends? It appears to be a new way to transfer company wealth away from shareholders. How nice! OPEC still talking about increasing production, even though they have failed to do so in July and probably will again in August. OPEC wants help, and admits it can't keep up: OPEC to discuss possible output rise for September - president AFX Europe (Focus); Jul 21, 2004 JAKARTA (AFX-ASIA) - The Organisation of Petroleum Exporting Countries (OPEC) will discuss a possible output rise for September, the cartel's president Purnomo Yusgiantoro said. Asked by reporters whether OPEC plans such an increase, Yusgiantoro replied: "We'll discuss it." Yusgiantoro said there is a tendency for oil prices to rise owing to increasing demand but added that OPEC have increased production. Yusgiantoro, who is also Indonesia's energy minister, said calls by OPEC for non-members to raise production have received no response even though they have large spare capacity. Yusgiantoro said OPEC still has spare capacity but only for a short term. "That is why we asked non-members to help increase world oil supply," he said. http://search.ft.com/search/article.html?i...arch&state=Form Link to comment Share on other sites More sharing options...
Hiding Bear Posted July 21, 2004 Author Report Share Posted July 21, 2004 More of the strong growth that the Lizard King predicted: Mortgage Applications Fell Last Week Wed Jul 21, 2004 07:01 AM ET NEW YORK (Reuters) - New applications for U.S. mortgages fell last week after a brief rise in early July, as mortgage rates for most loans were flat to lower, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted market index, a measure of mortgage activity, fell for the week ending July 16 by 4 percent to 617.9 from the previous week's 643.9. The Washington trade group's purchase index, a gauge of new loan requests for home purchases, fell last week by 6.1 percent to 440.3 from 468.8 in the prior week. The Washington trade group's seasonally adjusted refinancing index decreased by 0.7 percent to 1,651.1 from previous week's 1,662.4. http://www.reuters.com/newsArticle.jhtml?t...storyID=5729309 Link to comment Share on other sites More sharing options...
DrStool Posted July 21, 2004 Report Share Posted July 21, 2004 Al Smokes The Bong Buck Gets Higher Uncle Buck and the Long Bong Hit, including short and long term updated charts and price targets, is now loaded. Take a subscribatory and get the latest whiff of Uncle Buck and the Long Bong Hit. 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
Guest Posted July 21, 2004 Report Share Posted July 21, 2004 More of the strong growth that the Lizard King predicted: The Washington trade group's purchase index, a gauge of new loan requests for home purchases, fell last week by 6.1 percent to 440.3 from 468.8 in the prior week. The Washington trade group's seasonally adjusted refinancing index decreased by 0.7 percent to 1,651.1 from previous week's 1,662.4. [/i] http://www.reuters.com/newsArticle.jhtml?t...storyID=5729309 It fell 6.1% in ONE WEEK??? Aren't we in the midst of the selling season for homes? The entire globe needs the Ten Year Yield to collapse. Might as well bet on it. Link to comment Share on other sites More sharing options...
trinharder Posted July 21, 2004 Report Share Posted July 21, 2004 The sheeple reply to the MSFT news with gusto. I am amazed at how often in situations like this that folks seem to think they are receiving a windfall of some kind, unaware that the stock price will drop by $3.00/share, leaving them in the hole by what ever amount they have to pay out in taxes. The danger lies in the future as the fumble managers receive a cash infussion from the dividend which will undoubtably be put to work immediately. Based on the futs this morning the VIX may challenge the low of 13.34 from last week. I agree with Ike's commentary last night even as a short-term bounce appears to be under way. May scalp long but holding shorts longer-term. Haven't said it enuf, thanks to all for their contributions to this board. Great work and much appreciated. Link to comment Share on other sites More sharing options...
DrStool Posted July 21, 2004 Report Share Posted July 21, 2004 Gold Takes a Licking Will It Come Back Kicking? Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW!? Link to comment Share on other sites More sharing options...
Guest yobob1 Posted July 21, 2004 Report Share Posted July 21, 2004 More of the strong growth that the Lizard King predicted: The Washington trade group's purchase index, a gauge of new loan requests for home purchases, fell last week by 6.1 percent to 440.3 from 468.8 in the prior week. The Washington trade group's seasonally adjusted refinancing index decreased by 0.7 percent to 1,651.1 from previous week's 1,662.4. [/i] http://www.reuters.com/newsArticle.jhtml?t...storyID=5729309 It fell 6.1% in ONE WEEK??? Aren't we in the midst of the selling season for homes? The entire globe needs the Ten Year Yield to collapse. Might as well bet on it. According to Money/CNN it was the huge upsurge of .1% in rates that cooled demand. Geeze I wonder what 1% would do? If there's any speck of sanity left on the planet spreads should be opening up to reflect the increased risk of lending $300,000 to illegal immigrants for a zero down, interest only mortgage. BWTFDIK Frankly I think you're starting to see the satruation effect. They're running out of potential buyers with a pulse. Time to do a little grave robbing. Link to comment Share on other sites More sharing options...
Guest Posted July 21, 2004 Report Share Posted July 21, 2004 Stand-by....WalMart will be running specials on worry beads. Link to comment Share on other sites More sharing options...
Hiding Bear Posted July 21, 2004 Author Report Share Posted July 21, 2004 More of the strong growth that the Lizard King predicted: The Washington trade group's purchase index, a gauge of new loan requests for home purchases, fell last week by 6.1 percent to 440.3 from 468.8 in the prior week. The Washington trade group's seasonally adjusted refinancing index decreased by 0.7 percent to 1,651.1 from previous week's 1,662.4. [/i] http://www.reuters.com/newsArticle.jhtml?t...storyID=5729309 It fell 6.1% in ONE WEEK??? Aren't we in the midst of the selling season for homes? The entire globe needs the Ten Year Yield to collapse. Might as well bet on it. According to Money/CNN it was the huge upsurge of .1% in rates that cooled demand. Geeze I wonder what 1% would do? If there's any speck of sanity left on the planet spreads should be opening up to reflect the increased risk of lending $300,000 to illegal immigrants for a zero down, interest only mortgage. BWTFDIK Frankly I think you're starting to see the satruation effect. They're running out of potential buyers with a pulse. Time to do a little grave robbing. Despite what I've read here and on MTM about the availability of home mortgage credit in Kali - such as 100% mortgages, prospective buyers are now being turned away in NJ because they are failing the income qualifications at the present price levels. The next recession/depression is going to hit the southwest much harder than the rest of the country because of this. We had the Okies in the 30s, in the 00s will we have the Dopies? Link to comment Share on other sites More sharing options...
Guest yobob1 Posted July 21, 2004 Report Share Posted July 21, 2004 Kodak's got the bit in her teeth. Earnings up after previous lay-offs, so why quit now. Kodak cans another 1300. Wonder how real estate is doing in Rochester? Link to comment Share on other sites More sharing options...
Guest yobob1 Posted July 21, 2004 Report Share Posted July 21, 2004 More of the strong growth that the Lizard King predicted: The Washington trade group's purchase index, a gauge of new loan requests for home purchases, fell last week by 6.1 percent to 440.3 from 468.8 in the prior week. The Washington trade group's seasonally adjusted refinancing index decreased by 0.7 percent to 1,651.1 from previous week's 1,662.4. [/i] http://www.reuters.com/newsArticle.jhtml?t...storyID=5729309 It fell 6.1% in ONE WEEK??? Aren't we in the midst of the selling season for homes? The entire globe needs the Ten Year Yield to collapse. Might as well bet on it. According to Money/CNN it was the huge upsurge of .1% in rates that cooled demand. Geeze I wonder what 1% would do? If there's any speck of sanity left on the planet spreads should be opening up to reflect the increased risk of lending $300,000 to illegal immigrants for a zero down, interest only mortgage. BWTFDIK Frankly I think you're starting to see the satruation effect. They're running out of potential buyers with a pulse. Time to do a little grave robbing. Despite what I've read here and on MTM about the availability of home mortgage credit in Kali - such as 100% mortgages, prospective buyers are now being turned away in NJ because they are failing the income qualifications at the present price levels. The next recession/depression is going to hit the southwest much harder than the rest of the country because of this. We had the Okies in the 30s, in the 00s will we have the Dopies? I can see it now, an endless parade of SUVs leaving California with their surf boards and hot tubs strapped on top. Link to comment Share on other sites More sharing options...
Drano Posted July 21, 2004 Report Share Posted July 21, 2004 An update on the situation of my friend who has been trying to sell his house in a midwestern city, in a "hot" area, for several months: still no action, though the price has been reduced twice. He is now paying two mortgages, because of relocation for job purposes. 65% of income, to service debt. The horror. Link to comment Share on other sites More sharing options...
DrStool Posted July 21, 2004 Report Share Posted July 21, 2004 MoGauge Slips Bumps Along Near The Lows Once a week Doc fills you in on the all important MoGauge , straight from the MoGauge Bankers Ass. The MoGauge reflects a major source of liquidity in the financial bubble world and is an important indicator of future market behavior, often forecasting broad market movements months in advance. Take a subscribatory and download your MoGauge RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
DrStool Posted July 21, 2004 Report Share Posted July 21, 2004 The correlation between mortgage rates and mortgage apps week to week is zero. Proving again that financial journalists have their heads up their asses and don't have a clue. Link to comment Share on other sites More sharing options...
Guest yobob1 Posted July 21, 2004 Report Share Posted July 21, 2004 Buried in GMs results are the fleet/ retail percentages, leases and inventory. Hmmm fleet sales are way up, leases are up and inventory is up. Yeah I'd be cutting my Q3 estimates too. U.S. Retail/Fleet Mix Q2 04 Q2 03 6mo 04 6mo 03 % Fleet Sales - Cars 37.6% 29.5% 37.7% 29.8% % Fleet Sales - Trucks 17.9% 15.1% 18.1% 14.9% Total Vehicles 25.7% 21.0% 26.1% 21.3% Retail Lease as % of Retail Sales Total Smartlease and Smartbuy 14.2% 7.3% Days Supply of Inventory at June 30 United States - Cars 87 73 United States - Trucks 123 98 Oh yeah and their GMAC mortgage earnings dropped 25% Link to comment Share on other sites More sharing options...
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