Interview w/ St. Joe CEO

Discussion in 'Real Estate' started by GreenWaveDave, Jan 7, 2006.

  1. GreenWaveDave

    GreenWaveDave Beach Lover

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    St. Joe CEO sees strong housing demand
    Peter Rummell, CEO of The St. Joe Company, Florida's largest landowner, says retiring baby boomers continue to move into the state in large numbers, resulting in strong demand for housing despite hurricanes and higher interest rates.

    Hopefully this link will work......
    http://www.marketwatch.com/tools/quotes/quotes.asp?symb=joe&siteid=mktw&dist=mktwqn

    The St. Joe CEO did a broadcast interview on CBS MarketWatch. He blamed the relative slowdown in '05 on the early and strong hurricane season and the negative media frenzy. The statistic he likes the most is that on average 1,200 people are moving into FL per day. He thinks we are just at the beginning of a boom in FL that will last for years to come.....
     
  2. SHELLY

    SHELLY SoWal Insider

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    He certainly HOPES the boom will last...considering he's been cashing out his shares of JOE hand-over-fist for months & months:

    Rummell Insider Selling of JOE

    But hey, $1.3+ million per month don't go as far in Florida as it used to--the company's shareholders certainly understand that. :blink:
     
    Last edited: Jan 7, 2006
  3. GreenWaveDave

    GreenWaveDave Beach Lover

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    Good call Shelly. You're right, St. Joe is probably the next Enron. I bet they won't even exist in a year or two once everyone realizes all the land they own is swamp land........You called it!

    Maybe they'll be the focus of your upcoming thesis.
     
  4. Unplugged

    Unplugged Beach Fanatic

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    :clap_1:

    :lol:

    _______________________________
     
  5. SHELLY

    SHELLY SoWal Insider

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    Not the focus...but it's included.
     
  6. pk305

    pk305 Beach Fanatic

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    Shelly, I may have missed this somewhere....is your thesis for a degree or for a publication or specifically what? You may have mentioned this previously, but I have an interest in publication and am more than curious?
    Thanks!
     
  7. DBOldford

    DBOldford Beach Fanatic

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    Shelly is a fictional character created to inspire misgivings and virtual angst. He/she is not part of the world of accademia or of business. Shelly is a signpost in a two-dimensional world: fear and loathing. :pissed: :sosad: :eek:
     
  8. Cil

    Cil Beach Fanatic

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    That's a slight exaggeration, I'd say.
    The amount of scrutiny St Joe receives would forestall any Enron-type of scenario. And not all their land is wet.
    It's been interesting watching what other developers try to get away with: I've seen a couple doozies in the short time I've been here.
    But you don't read about those because they don't make good copy the way St Joe does.
    BTW: your link doesn't work for me, Dave, but here is a link that does have the "approximately 1,200 people" quote
    Rummell
     
    Last edited: Jan 9, 2006
  9. STL Don

    STL Don Beach Fanatic

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    Outstanding summary
     
  10. Smiling JOe

    Smiling JOe SoWal Expert

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    The founders of Google are also selling stock, about $43,000,000 per week. Does this mean Google, too, is headed south? (Not trying to change the subject) Many people think that Google, not Microsoft, is set to take over the world.
     
  11. csamps

    csamps Beach Comber

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    Cil- could you elaborate on some of these examples? I'd be curious.



    It's been interesting watching what other developers try to get away with: I've seen a couple doozies in the short time I've been here.
    But you don't read about those because they don't make good copy the way St Joe does.
     
  12. GreenWaveDave

    GreenWaveDave Beach Lover

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    I don't know why I can't get the link to work. Sorry. If you want to hear the interview, just go to www.marketwatch.com, enter the ticker symbol JOE, and you'll see related stories with the stock quote.

    FYI, my cynicism on JOE was not real, just for Shelly's benefit. Of course I don't think they're the next Enron!
     
  13. pgurney

    pgurney Beach Fanatic

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    Since the stocks and options are a significant portion of his compensation package, and his sells have been fairly regular for about 18 months, and they started just after he excercised a large option order, and they occurred during a period of increasing stock value....I don't see why anyone would be concerned about this "insider selling". :confused:
     
    Last edited: Jan 9, 2006
  14. Kurt Lischka

    Kurt Lischka Admin Staff Member

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    try this next time

    <sarcasm> </sarcasm>
     
  15. SHELLY

    SHELLY SoWal Insider

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    It's my graduate thesis. The title is still up in the air....but I've had to reject my first choice: "The Real Estate Boom: Investing in Dot-Condos at Enron-by-the Sea." :funn:
     
  16. Cil

    Cil Beach Fanatic

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    I was afraid somebody would ask this! ;-)
    I really don't want to name any names, but one guy simply began putting in a new housing development along 30-A. He removed trees, and had gotten as far as thinking about putting in a sewer system. Something like three months into the project, everything halted.
    There was a minor detail: The guy apparently didn't have a permit.
     
  17. Advance The Man

    Advance The Man Beach Lover

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    You're getting it mixed up a little bit. "insider trading" is illegal, but "insider selling" makes no sense. You can sell shares if you want. Do I smell jealousy?

     
  18. Rita

    Rita margarita brocolia

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    OR a signpost going nowhere?
     
  19. Kimmifunn

    Kimmifunn Funnkalicious

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    Oh snap Miss D! ;-)
     
  20. SHELLY

    SHELLY SoWal Insider

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    It does if you're familiar with the stock market. :cool:
     

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