Is JOE worth buying ???

[Matt J]

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.

Apparently thru the grape vine the Inn has dropped from a 5 star to 2 star. In addition it is rumored that there is Black mold in the entire building and that they were supposed to shut it down last year to fix the problem. The other rumor is that they are shutting it down to make the repairs and then sell it off as a time share. Again rumors not press statements.

 

[scooterbug44]

I was told a year or so ago that the Black mold rumor was started by a competitor and had no basis in fact.

 

[goofer]

http://www.joe.com/NR/rdonlyres/3983AD62-809F-4F2E-8995-7E3589666B54/5984/ChairmansLetter.pdf

 

[SHELLY]

.
:roll:

ST JOE...Downsizing Our Way to Profitability

. I'm Home!


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[goofer]

The latest and greatest restructuring is having the desired effect...JOE stock up $1.45 today to 35.50. That is what JOE really cares about. I am a homeowner at WS and a shareholder of JOE. I gotta tell you....JOE senior management really scares me. I intend to sell my 2500 shares in this run up. They have no vision and no committment and now they will just be a dirt company. Because they have no committment and no guts, they have given up all the upside when things eventually do turn up. Thanks for the profit, JOE.

 

[SHELLY]

The latest and greatest restructuring is having the desired effect...JOE stock up $1.45 today to 35.50. That is what JOE really cares about. I am a homeowner at WS and a shareholder of JOE. I gotta tell you....JOE senior management really scares me. I intend to sell my 2500 shares in this run up. They have no vision and no committment and now they will just be a dirt company. Because they have no committment and no guts, they have given up all the upside when things eventually do turn up. Thanks for the profit, JOE.

They're down to $34.79 in afterhours.

Just a thought: Wouldn't it be better to just write off a small loss to this years gains instead of taking a short-term capital gains hit?

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[goofer]

Actually the print of 34.79 in the after market is some hedge fund that is SHORT Joe marking DOWN the stock to decrease the loss that the position generated today. When I was in the hedge fund business , we would mark up and mark down positions everyday. The price in the newspaper will show JOE closing at 34.79 and that is the price the prime broker will use when they do the daily profit and loss report. But JOE will open tomorrow at 35 and change. If you want to see crazy price action watch trading on Dec 31 this year and then the marks in the after hour trading.
I am already doing tax planning. I have gains this year from the stock market that I am pairing off against real estate that I am selling to realize those losses. Thanks for the advice, though.

 

[jlweathers]

all in all i think this will be positive for joe - they appear to be getting back to their core competency (cost basis of raw land). essentially, they are getting out of the end user market & into b2b. the will now focus on adding value through the entitlement process - this compressed value chain will likely prove them to be a much more flexible organization in this current state of turmoil.

Their maybe some longer term value there, but i personally would want more clarity as to how they will proceed strategically, what assets they are holding on to, & a little more about the stock repurchase &/or future expected dividends. otherwise, you would think their is going to be some volatility & hence opportunity in the short-run.

 

[full time]

Dude - Strategy ... What strategy? I have some undeveloped or underdeveloped land, make me an offer. That ain't much of a long term business plan. Sorry, I fail to see the positives for Joe or this area at this juncture. Hopefully, I'm wrong.

 

[Miss Kitty]

sowalgayboi...before you have to retract another statement on here, please consider what you are posting before hitting the submit button. Thanks.