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Latest JOE rumor
- Thread starter Matt J
- Start date
scooterbug44
SoWal Expert
Um, WHY? 
Matt J
SWGB
Um, WHY?
Gee, I can't imagine why a major military contractor would want large amounts of land near major military testing bases.
beasmiester
Beach Lover
Oh, I hope it's just a rumor......GE will find some way to move it off-shore. JOE in China, Vietnam, Pakistan or some other third world country.
ASH
Beach Fanatic
And this from the Motley Fool site. Berkowitz recently bought into GE. He now owns chunks of both companies...:roll:
Just one addition
Berkowitz started only one new position during the third quarter, but the pick is surprising nonetheless. Fairholme purchased more than 14 million shares of onetime American icon General Electric. The industrial giant is among the top 10 American companies by market capitalization, but the financial crisis took away some of its shine.
Personally, it's hard for me to find a lot to like about GE right now. The company has been a big beneficiary of the economic stimulus package, and of a U.S. government in general that has piled on debt over the last decade. If threatened spending cuts actually become reality in the U.S., GE could lose substantial amounts of revenue. Meanwhile, the company still has huge amounts of debt and remains fairly highly leveraged.
On the other hand, Berkowitz clearly sees value that I may not. Perhaps it's the improvement in the company's once extremely troubled financial arm. GE Capital has seen its loan portfolio bounce back as losses shrink. Citigroup even put out a report last month stating its belief that the finance arm will create more than 50% earnings growth next year for the company.
It will be interesting to see how Berkowitz's out-of-favor picks St. Joe and General Electric perform over the coming months. He's beaten the market routinely by picking downtrodden stocks that almost no one wants to own. St. Joe and General Electric are certainly not sexy, but they might be by the time Berkowitz is ready to sell.
Just one addition
Berkowitz started only one new position during the third quarter, but the pick is surprising nonetheless. Fairholme purchased more than 14 million shares of onetime American icon General Electric. The industrial giant is among the top 10 American companies by market capitalization, but the financial crisis took away some of its shine.
Personally, it's hard for me to find a lot to like about GE right now. The company has been a big beneficiary of the economic stimulus package, and of a U.S. government in general that has piled on debt over the last decade. If threatened spending cuts actually become reality in the U.S., GE could lose substantial amounts of revenue. Meanwhile, the company still has huge amounts of debt and remains fairly highly leveraged.
On the other hand, Berkowitz clearly sees value that I may not. Perhaps it's the improvement in the company's once extremely troubled financial arm. GE Capital has seen its loan portfolio bounce back as losses shrink. Citigroup even put out a report last month stating its belief that the finance arm will create more than 50% earnings growth next year for the company.
It will be interesting to see how Berkowitz's out-of-favor picks St. Joe and General Electric perform over the coming months. He's beaten the market routinely by picking downtrodden stocks that almost no one wants to own. St. Joe and General Electric are certainly not sexy, but they might be by the time Berkowitz is ready to sell.
Matt J
SWGB
I don't see the cost savings of moving 900 square miles of US soil to foreign country, but then I'm not a financial wiz.