St Joe stock appears to rebounding, why?

I'm not sure how the Arvida deal ever worked in JOE's favor. That was a lemon from day one.

Didn't that deal give JOE some construction control?

I'm not sure how the Arvida deal ever worked in JOE's favor. That was a lemon from day one.

Aside from the (argument) over whether or not JOE netted profits from the merger, JOE got

1) Access to ALCOA money
2) Instant recognition in southern FL
3) A ton of talented people
4) The learning curve of Weston
4) Pete Rummell

You have to remember, JOE until mid 90s was a Dupont spinoff, a one trick pony (excepting Florida National and a dodgy railroad ops), Rummell saw the vision of Seaside in Seagrove (Waterxxx later) and ran with it.

Dupont -> St. Joe -> Arvida -> JOE

Aside from the (argument) over whether or not JOE netted profits from the merger, JOE got


3) A ton of talented people

Many of whom are now laid off.
Rummell did okay for himself, though.
He's working for Jack Nicklaus now.

Rummell saw the vision of Seaside in Seagrove (Waterxxx later) and ran with it.

But that is ALL he saw and when the market slowed, St. Joe was left with nothing to sell, nothing to do, and no direction, which is why Rummell is gone (with most of him employees). Those few employees who are left to pick up the pieces have 800,000 acres of timberland and wetlands that they are struggling to find a use for.

But that is ALL he saw......

You must have thought I was speaking of Peter Rabbit.

Rummell was charged not with preparing JOE for our present misgivings but in turning a Mississippi barge ship sized company into something more akin to a cruise ship. There is no doubt he succeeded in spades in doing so.

One can look at his wake, which is Rummell's legacy, or to bow but in doing so, I supplant you are positioning him more as Rabbit than Rummell.

Many of whom are now laid off.
Rummell did okay for himself, though.
He's working for Jack Nicklaus now.

Real talented people can adapt and adjust. If the world wants what they are offering they'll never miss work. The way I read history those talented people created some great spaces with double the money they needed and 3 times the rework.

Real talented people can adapt and adjust. If the world wants what they are offering they'll never miss work. The way I read history those talented people created some great spaces with double the money they needed and 3 times the rework.

Yes. My husband has landed on his feet.
As for double the money and 3 times the rework, that has never happened to my spouse--you paint with rather a broad brush.

Hmmmm...


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Hmmm indeed. Very strategic. ;-)

Originally Posted by AAbsolute
Real talented people can adapt and adjust. If the world wants what they are offering they'll never miss work. The way I read history those talented people created some great spaces with double the money they needed and 3 times the rework.

Yes. My husband has landed on his feet.
As for double the money and 3 times the rework, that has never happened to my spouse--you paint with rather a broad brush.

Exuberance of a youth wasted from AA? AA has two problems, uno the use of the word "never", two-o, the reading of history attempting to replace being part-parcel of it. The real time experiences of JOE are never :shock:, er, often not eluted properly in history. Congrats on your Hubby landing adroitly on his hooves.

Originally Posted by AAbsolute
Real talented people can adapt and adjust. If the world wants what they are offering they'll never miss work. The way I read history those talented people created some great spaces with double the money they needed and 3 times the rework.
Exuberance of a youth wasted from AA? AA has two problems, uno the use of the word "never", two-o, the reading of history attempting to replace being part-parcel of it. The real time experiences of JOE are never :shock:, er, often not eluted properly in history. Congrats on your Hubby landing adroitly on his hooves.

Anybody commenting remember what the final cost of the baithouse was? How about the cost to construct the Yellow Homes in Watercolor's Tennis district? Let's hear from someone who has a St. Joe vendor number please about how many superintendants it takes to build a Watercolor or Watersound Cottage. Anybody privy to the final costs of the Watersound or Watersound West Beach special projects homes?

I'll wait till you get up to speed and they we can talk numbers. I'm ready when you are. Just give me a shout. I'll be out here working in the real world.

Anybody commenting remember what the final cost of the baithouse was? How about the cost to construct the Yellow Homes in Watercolor's Tennis district? Let's hear from someone who has a St. Joe vendor number please about how many superintendants it takes to build a Watercolor or Watersound Cottage. Anybody privy to the final costs of the Watersound or Watersound West Beach special projects homes?

I'll wait till you get up to speed and they we can talk numbers. I'm ready when you are. Just give me a shout. I'll be out here working in the real world.

So you have real numbers? Then why post "The way I read history those talented people created some great spaces with double the money they needed and 3 times the rework."

Which is the misstatement? This post or the one I quoted italicized above?

So you have real numbers? Then why post "The way I read history those talented people created some great spaces with double the money they needed and 3 times the rework."

Which is the lie? This post or the one I quoted italicized above?

I'm looking for some facts from people on the inside. I don't have the final numbers on those projects and that's why I asked. I really want to know facts.

My company has a St. Joe vendor number and I knew Sam, Crystal, Paul, Ray, Daryl, Dave, Bridget, Brian etc. etc. I remember telling them to give us a try on a West Beach Cottage side by side with one of their Haven Modular Plans or one of their special projects. We finally bought a lot direct and showed them with our own money what we were talking about.

I'm sorry for painting with a broad brush Cil. I shouldn't do that. Who's your husband? My name is John Carroll.

Didn't we read somewhere in a JOE press release that they were paying off all their debt with the sale of these giant parcels that fell through? So does that mean they still have the debt and the rural land that is not in demand?

Don't get me wrong for a minute. I wish I had their problems.

Didn't we read somewhere in a JOE press release that they were paying off all their debt with the sale of these giant parcels that fell through? So does that mean they still have the debt and the rural land that is not in demand?

Don't get me wrong for a minute. I wish I had their problems.

...they offered up 17,145,000 shares of stock at $35 per share to pay off the debt.

.

Didn't we read somewhere in a JOE press release that they were paying off all their debt with the sale of these giant parcels that fell through? So does that mean they still have the debt and the rural land that is not in demand? Don't get me wrong for a minute. I wish I had their problems.

FYI JOE has acquired a $100M LOC with BB&T, yet unused.

...they offered up 17,145,000 shares of stock at $35 per share to pay off the debt.

.

Did that take the place of the sale of non strategic assets? It sounds like giving up $557,500,000 dollars worth of stock in transfer for satisfaction of debt is not satisfaction, rather it would be reallocation wouldn't it.

FYI JOE has acquired a $100M LOC with BB&T, yet unused.

It looks like JOE can pay its operating expenses through the continued sale of assett's quarter by quarter. What do you think they'll use the Line of Credit for?

So you have real numbers? Then why post "The way I read history those talented people created some great spaces with double the money they needed and 3 times the rework."

Which is the misstatement? This post or the one I quoted italicized above?

That can't be all you got. I thought I'd get a blistering by now from Sowal's wordsmith.

Did that take the place of the sale of non strategic assets? It sounds like giving up $557,500,000 dollars worth of stock in transfer for satisfaction of debt is not satisfaction, rather it would be reallocation wouldn't it.

No.

No.

Whay do companies sell stock? Why do companies buyback their own stock?

Whay do comapnies sell stock? Why do companies buyback their own stock?

They sell stock to raise capital--expanding operations is a good reason to sell stock, raising money because the company is going down the crapper is a bad reason to sell stock. Selling stock dilutes the earnings of current shareholders, or in JOE's case, spreads out the losses.

Companies buy back stock when they believe it's cheap and/or need it to dole out for employees' stock options.

A buyback is usually good for current shareholders since it decreases the amount of shares on the market thereby giving each shareholder a larger percent in the company's equity. However, if a company screws up and buys back stock when the price is too high, those equity gains vanish quickly. JOE has done a few big buybacks at too high prices--mostly to benefit DuPont and, I suspect, a number of JOE insiders.
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No.

If I understand this correctly JOE had previously announced that it was selling non-strategic assets and the pending contracts on same were going to pay off their last corporate debt's. If the sale of the non-strategic assets fell through and they satisfied the debt by giving up 1/2 Billion US worth of Corporate Stock it seems like a loan.

If I understand this correctly JOE had previously announced that it was selling non-strategic assets and the pending contracts on same were going to pay off their last corporate debt's. If the sale of the non-strategic assets fell through and they satisfied the debt by giving up 1/2 Billion US worth of Corporate Stock it seems like a loan.

JOE engineered the sale of stock to pay off debt in Feb '08: http://www.secinfo.com/dsvRx.t166.htm

Why do you think of stock sales as a loan? Selling bonds is more like a loan.


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JOE engineered the sale of stock to pay off debt in Feb '08: http://www.secinfo.com/dsvRx.t166.htm

Why do you think of stock sales as a loan? Selling bonds is more like a loan.


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Is this a proper example:

If I wanted to raise money to pay off a mortgage and I was unable to sell a property I might have considered transfering an ownership interest in my firm to someone with cash. I would assume that my firm would be diluted as the party would share in the profits. This would cost money. In order to regain the ownership control my company would have to raise cash to repay the shareholder.

I know we are not publicly traded, it's a rudimentary example. Am I thinking of it to simply?

Anybody commenting remember what the final cost of the baithouse was? How about the cost to construct the Yellow Homes in Watercolor's Tennis district? Let's hear from someone who has a St. Joe vendor number please about how many superintendants it takes to build a Watercolor or Watersound Cottage. Anybody privy to the final costs of the Watersound or Watersound West Beach special projects homes?

I'll wait till you get up to speed and they we can talk numbers. I'm ready when you are. Just give me a shout. I'll be out here working in the real world.

Is there anyone on Sowal who is truely informed on the subject who can share the knowledge?