Is JOE worth buying ???

[NoHall]

Are the shoes really that dangerous or are the wearers just that stupid?

Maybe people should actually be monitoring their kids on escalators?

Are wheelie shoes and crocs on escalators the latest form of natural selection?

How are they more dangerous than flip flops or loose shoelaces?

I still don't understand the escalator thing. I remember being very, very small and riding escalators. It was the same deal as car doors--keep fingers and toes out of the cracks. I'm not at all scared of them, but I watch my fingers and toes and shoe parts when I'm on them.

As for crocs, my massage therapist recommends them. I have Morton's toe (where the "index" toe is longer than my big toe,) and he says that it makes me roll off differently, which aggravates my sciatic nerve. Because the shape of the toe box on the crocs compensates for it, I don't have sciatic pain when I wear them. Great for gardening and wandering across the yard to my parents' house, too!

 

[elgordoboy]

Lmao at crox today, short squeeze or news inc?

 

[Pirate]

I own 2500 joe at a cost of 33.80. the party has just started since the markets will expect and demand further rate reductions. the perception will be that the housing industry and the general economy will be saved from recession. i believe homebuilders and housing related stocks will all move up at least 25% between now and the end of the year. I intend to remain long JOE well into the 4th qtr.
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I am often stunned by your picks and the fact that they come through. I think you may be very adept at day trading but the short term buy high sell higher phenomenon is over on this stock. If you hold it for 10 years its a fine stock.

 

[goofer]

I am often stunned by your picks and the fact that they come through. I think you may be very adept at day trading but the short term buy high sell higher phenomenon is over on this stock. If you hold it for 10 years its a fine stock.

I am not sure if that is a compliment, but thank you anyway. I am NOT a day trader....never have been. Once in awhile I will take a shot and buy a stock I think has been oversold....that is my take on JOE. I think by year end it could be through 40....but who knows. An example of what I do is.... today I bought 500 WAG ( Walgreen). WAG is a very good company and I think the selling was exaggerated. 500s is not enough to matter but a small position gets and keeps my attention. I will add if the stock continues to go lower. JOE is the least quality of all the stocks in my portfolio. I have listed my other stocks in previous posts. They are all the biggest and best of the blue chips. Most raise their dividends every year by 10%. I intend to have them in my portfolio for life. I had a career on Wall St. for over 30 years. There is a method to my madness. In any event it has worked very well for me.

p.s. I am not sure how you arrived at the buy high sell higher statement since I scaled down on JOE from 40 to 30.50. The stock is near a multi year low.

 

[Pirate]

I am not sure if that is a compliment, but thank you anyway. I am NOT a day trader....never have been. Once in awhile I will take a shot and buy a stock I think has been oversold....that is my take on JOE. I think by year end it could be through 40....but who knows. An example of what I do is.... today I bought 500 WAG ( Walgreen). WAG is a very good company and I think the selling was exaggerated. 500s is not enough to matter but a small position gets and keeps my attention. I will add if the stock continues to go lower. JOE is the least quality of all the stocks in my portfolio. I have listed my other stocks in previous posts. They are all the biggest and best of the blue chips. Most raise their dividends every year by 10%. I intend to have them in my portfolio for life. I had a career on Wall St. for over 30 years. There is a method to my madness. In any event it has worked very well for me.

p.s. I am not sure how you arrived at the buy high sell higher statement since I scaled down on JOE from 40 to 30.50. The stock is near a multi year low.

I was complimenting you on previous gains when I doubted the choice. I have always thought to myself "that guy knows the stock market". My opinion is JOE has been a bad play since the middle of 2005. I am sure people made money trading it, but it was and is very poor fundamentally IMO. It continued to rise after the retirement/second home feeding frenzy and that is why I say buy high sell higher. Not necessarily your mantra but the only explanation of the increases in a hurting real estate market for a company with a bunch of swamp land, a little prime beachfront and a real P/E of 80 then. I think you trade more stocks than the average investor but seem to know a great deal about the industry. Many things that happen in the stock market astound me and that's why I don't move around in stocks much. I'm a buy and hold type of guy and I don't have the time to devote to really trade. I do have a little money in the portfolio that I really take chances on. I call it "the slush fund". JOE might be that for you, I don't know but it isn't a low risk play. Real estate is what I do know and JOE doesn't look so hot to me at the present time. Hopefully I am wrong and you make money again. I realize you have a good buy in position in relative terms and the bottom can't be far if it hasn't been reached already, but think of the people that bought only 5 months ago at 60. Or even when this thread started?

 

[goofer]

yeah...I hear you. It is always very helpful to get the opinion of someone who is involved day to day in real estate. I appreciate your take on things. I think it will be a long time ( 2 or 3 years ) for the real estate market to be in equilibrium. Sellers have to capitulate to clear the inventory. The more I think about it the more I think I ultimately will lose on JOE. But my game plan is to ride it until year end and if I am losing money...sell it for a tax loss. If I am making money , I will re-evaluate in early 2008. Thanks again, Pirate.

 

[drsvelte]

St. Joe Company to accelerate value creation (34.15 )

Co announces it intends to significantly accelerate its value creation process in Northwest Florida and is restructuring the co to accomplish that objective. The restructured JOE is designed to increase its financial flexibility and strengthen its balance sheet. To improve its financial performance the co intends to: Significantly reduce capital expenditures, meaningfully decrease selling, general and administrative expenses, divest non-core assets, aggressively lower debt and eliminate the current dividend and over time return value to shareholders through the share repurchase program. In connection with this restructuring, JOE expects to take a charge to earnings of approx $7 mln consisting of severance benefits to employees. This charge will be expensed substantially in 2007 and 2008. JOE's restructuring is expected to generate annual savings of approximately $10 mln in 2008, approx $18 mln in 2009 and approx $20 mln in later years. In addition, JOE expects to take charges aggregating approx $25 to $30 mln in Q307 related to contract termination costs, the write-off of capitalized costs at certain projects, the impairment of completed spec homes in several communities and the write-off of goodwill related to Sunshine State Cypress Mill.

 

[Capricious]

On Bloomberg:


Oct. 8 (Bloomberg) -- St. Joe Co., Florida's largest private landowner, plans to eliminate 760 jobs, sell about 100,000 acres of land and scrap its dividend to contend with the worst housing slump in 16 years.

The company will also sell the Sunshine State Cypress Mill, 190 homes and about 1,200 developed home sites, Jacksonville-based St. Joe said today in a statement. It will take a charge of up to $30 million in the third quarter and have $7 million in severance costs this year and next.

St. Joe is shifting from building homes in Florida, where sales plummeted 41 percent in the second quarter, according to the National Association of Realtors, to helping create towns. The company's profit has dropped four of the last six quarters and sales haven't risen since the third quarter of 2005
........

 

[Capricious]

http://www.bloomberg.com/apps/news?pid=20601087&sid=azK8QFx7PSQo&refer=home

 

[Smiling JOe]

I don't see any mention of JOE selling off the WaterColor Inn, but I'd guess that would account for about 50 of those employees they are ditching, if the deal goes through.