Does this mean, "For Sale, Now's The Time To Buy?"
Press Release from Joe:
WaterSound, FL - February 8, 2011 - The St. Joe Company (NYSE:JOE) today announced that its Board of Directors has unanimously decided to explore financial and strategic alternatives to enhance shareholder value.
The Board intends to consider the full range of available options including a revised business plan, operating partnerships, joint ventures, strategic alliances, asset sales, strategic acquisitions and a merger or sale of the Company.
The Board of Directors has retained Morgan Stanley & Co. Incorporated to assist it in the evaluation of these alternatives. The Company noted that there can be no assurance that the exploration of strategic alternatives will result in any transaction.
Britt Greene, St. Joe's President and CEO, said, "We have engaged Morgan Stanley to undertake a comprehensive and thorough review of all available alternatives, and our Board and management are committed to taking the appropriate and necessary actions to enhance value for St. Joe shareholders."
Replies
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Beach Fanatic
Where's Shelley?
Beach Fanatic
Whoa! And I always thought they had the deepest pockets in the area. I guess all that land isn't worth what it once was.
SoWal Insider
Sure didn't hurt their stock, up 9% in after hours. Investors liked the idea.
beats on hood
Well, Watersound West hasn't helped them any. If they'd replace that arduously long beach walkover (incredibly hot in the summer) with a golf-cart-friendly walkover, that 'hood would be hot in a good way, in my humble opinion.
Beach Fanatic
Does this mean, "For Sale, Now's The Time To Buy?"
Press Release from Joe:
WaterSound, FL - February 8, 2011 - The St. Joe Company (NYSE:JOE) today announced that its Board of Directors has unanimously decided to explore financial and strategic alternatives to enhance shareholder value.
The Board intends to consider the full range of available options including a revised business plan, operating partnerships, joint ventures, strategic alliances, asset sales, strategic acquisitions and a merger or sale of the Company.
...and the late Ed Ball rolled over in his grave and said "Just can't believe they're going across the creek after all those acres, all that slash pine, all those years"...
Meow
looking for a buyer.
Beach Fanatic
St. Joe Co. considering sale | considering, fla, joe - Northwest Florida Daily News
Panhandle land developer St. Joe Co. says it has hired Morgan Stanley & Co. to look at various options including a possible merger or sale of the company.
St. Joe Co. made the announcement late Tuesday. The company says it board of directors also voted to have Morgan Stanley look at possible partnerships, joint ventures, strategic alliances.
Beach Fanatic
Sure didn't hurt their stock, up 9% in after hours. Investors liked the idea.
JOE: Summary for St. Joe Company (The) Common St- Yahoo! Finance
Down 7% today, after hours trading is highly erratic, there can be a huge spread between bid and ask.
Watch ESPN instead.
Edited
Beach Fanatic
St. Joe for sale. A case of too many eggs in one (Panhandle) basket? - St. Petersburg Times
Did St. Joe put too many of its development eggs in one basket ? namely, yuppie vacation housing near the Panhandle beaches ? only to crash head-on into the collapsed real estate bubble and, for the coup de grace, the BP oil spill?
SoWal Expert
Interesting.
I was just thinking this weekend Joe needed to diversify a little and push to make the section of Watercolor near Publix primary housing focused on partial or full retirees.
If they could get the price points right, that area is ideally situated for it - places to walk & bike, close to grocery store and other amenities, restaurants, and easy to run a shuttle to areas like Seaside, Rosemary, Alys.
I was just thinking this weekend Joe needed to diversify a little and push to make the section of Watercolor near Publix primary housing focused on partial or full retirees.
If they could get the price points right, that area is ideally situated for it - places to walk & bike, close to grocery store and other amenities, restaurants, and easy to run a shuttle to areas like Seaside, Rosemary, Alys.
Beach Fanatic
In the other thread, I mentioned that I thought that if they'd develop in SoWal at a $200-$350K price point, they'd sell homes like hotcakes to the aspirational middle class.
Beach Comber
SEC released filing showing BLACKROCK with 17% of JOE...
Beach Fanatic
Where's Shelley?
Shelly? I think he shorted JOE stock a couple months back when David Einhorny said to, and bought stock in some computer company that he said will be around for 50 years or longer, can't remember what he bought long, if it was WANG, UNISYS, NORTEL, or INTEL...
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