The Latent Power of GE Shareholders [View article]
Couldn't believe my eyes at first, "... so happy that he had Alzheimer the last five years," but it quickly made sense. How sad! Many comments and emails received similar to yours with regards to past employment and pride that has since eroded.
The Latent Power of GE Shareholders [View article]
That's one of the problems, non-executive insiders enjoy nowhere near the absurd remunerative privileges of the executive class, so even with a depressed stock price, many execs received million dollar-plus cash salaries, bonuses, and continued to accumulate millions more in pension value. The stock (and obviously the option grants) are like call options in some respect!
The Latent Power of GE Shareholders [View article]
Gregok -- unfortunately it's not just GE, any company can do the same (ie work the phones and other means to sway votes). That's exactly why I published this article and am trying to raise awareness. Hope that there will be more votes for cumulative voting this year -- although shareholder proposals are advisory (non-binding). Still, it's a start.
The Latent Power of GE Shareholders [View article]
No doubt the longstanding attitude has been to sell if displeased. Maybe even go short if you like. However, in this case, I think longer-term shareowners are best to heed Ben Graham's advice to take a stand.
The Latent Power of GE Shareholders [View article]
Saddened to hear your story. Hope that you have read the proxy, my review, and others' takes, and vote accordingly. While only advisory (i.e. non-binding) perhaps any tally of votes 'against' executive compensation at GE will be enough to send a message and/or generate momentum for future action and a future vote even more heavily 'against.'
The Latent Power of GE Shareholders [View article]
Thanks for your comment George. I concur 100% with regards to gross negligence -- within the current BoD and widespread across listed companies. Some walked away with millions, many remain entrenched with millions and are handing out or siphoning off many more millions.
Thanks for your comment, docscholl! I saw the NYT piece, too. Note that I have an update on GE forthcoming very soon that you must read. Follow me on SA or look out for it to hit the "wire".
"We have sold everything we can produce in silver and have demand for at least twice that volume," says the head of sales at the Royal Canadian Mint. Silver surges another 1.9% to $32.16/oz., even as news floats of an impending margin hike. Next stop: Hunt Brothers. SLV +1.0%. [View news story]
That should be $32.16 per "oz" not "lb." Anyway, margin hikes seem to hit price for day or two tops. Prudent perhaps, but previous ones were announced w/o warning and cause of unnecessary volatility. Dubious origin imho. Not sure it makes sense to invoke Hunt Brothers at current price level and circumstances (demand for physical!).
Correction: according to Cisco PR, buyback extended by $10B; Sept. 2001 to-date total buybacks completed of $67.5B; previous remaining funds for buybacks of $4.5B; new grand total buyback of $77.5B possible if $10B spent, no deadline for buybacks. Regarding dividend, announcement due this fiscal year (FYE Jul. '11). seekingalpha.com/news-...
Cisco has previously said it will pay a dividend at a yield of 1%-2%. I believe an announcement by the board is expected by year's end, making it payable sometime next year. Regarding buybacks, Cisco has spent $67.5 billion (yes billion!), if memory serves me correctly, over the past decade and will spend another $4.5 billion, as its board recently approved an extension to its buyback program. While I also think Cisco looks interesting here, I am discouraged by the the fact that it has spent so much on buybacks and seen its stock really go nowhere at the end of a decade's worth of intervention. Further, unless Cisco grows its dividend by high-single or double digits, I would really want to get in at a lower price. The board/management doesn't seem as if it would pay a sizable special dividend, or even one at all, as it is likely considering acquisitions instead. Cisco is not far from $18/share, but I'd like to buy at the $17-level, solidly under 10x forward earnings.
What's even more interesting when looking at performance, is the fact that given a deflationary environment, even a meager yield has actually increased the purchasing power of the principal.
I'm not the author; but they aren't enthusiastically buying, whereas the zombie institutional money managers are (with individuals' money): postal savings, public pensions, insurance co's, etc.
The Latent Power of GE Shareholders [View article]
The Latent Power of GE Shareholders [View article]
The Latent Power of GE Shareholders [View article]
The Latent Power of GE Shareholders [View article]
The Latent Power of GE Shareholders [View article]
The Latent Power of GE Shareholders [View article]
The Latent Power of GE Shareholders [View article]
GE’s share repurchases: buy high, sell low [View instapost]
Best,
Steven
"We have sold everything we can produce in silver and have demand for at least twice that volume," says the head of sales at the Royal Canadian Mint. Silver surges another 1.9% to $32.16/oz., even as news floats of an impending margin hike. Next stop: Hunt Brothers. SLV +1.0%. [View news story]
Book Review: 'Overhaul' - A Tell-All Account of the Rescue of GM and Chrysler [View article]
Cisco Shares Are Dirt Cheap [View article]
Cisco Shares Are Dirt Cheap [View article]
Japanese Yen: A Red Dawn? [View article]
Japanese Yen: A Red Dawn? [View article]
Japanese Yen: A Red Dawn? [View article]