Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (17454)	7/24/2003 7:42:32 PM
From: Paul Senior	Respond to of 78525

Selling about 1/5 of NTE (formerly NTAI). First sale in several years. I'm just antsy. Sold half of small position in TTPA. When posted here about nine weeks ago, it was a stock-below-cash play. Sold exploratory position in LBY. Lower earnings reported. I lost confidence. Trimmed position in Dale Baker pick MAXF given stock's recent surge. Buying more RNR as it declines. Also have bought shares in ASR, a Dale Baker pick. finance.yahoo.com

To: Paul Senior who wrote (17454)	7/25/2003 2:18:06 AM
From: 249443	Read Replies (1) \| Respond to of 78525

Timba can take the credit, but let's state the facts. :) 6/7/01 Message 15911859 Kaneb Services: TimbaBear, I would like to hear your thoughts on this small-cap company. I appreciate all of your work and thoughts. kaneb.com Kaneb Services is changing their name of its Information Services Group to Xtria "to reflect the integration of the company's information technology business" (per Value Line Extended Version). Kaneb is spinning off Kaneb Pipe Line Company (30 cents quarterly dividend) on 6/29/01 with a record date of 6/20/01. Kaneb Pipe Line Company will exist as a LLC -- and will be spun off in the following ratio: 1 share of Kaneb Pipe Line Company for every 3 shares of Kaneb (KAB). Kaneb (KAB): Thanks TimbaBear! I'll tell you what I know. 1) Kaneb will be added to the Russell 3000 index -- which will create index purchases of the common stock and effective on 7/1/01. russell.com 2) I am not sure of the partnership implications. There have been a few real estate (forest) deals that I have been involved with that have been partnerships -- but am not clear on this situation. (I anticipate selling the partnership shares -- and holding the higher growth common stock.) The partnership shares are being spunoff 1 for every 3 Kaneb owned. 3) I am showing (according to Value Line Extended) Kaneb Services had 31.14 million shares at the end of 2000. I like the fact that Franklin Balance Sheet is the top institutional holder -- since that fund does focus on the financial statements. Per Kaneb's earnings statement, dated 3/31/01, Kaneb had 31.261 (basic) million shares and 32.984 (diluted). 4) I am not sure of the issue of the 1.9 million shares to be sold -- per the 6/5/01 filing. (FWIW: the 1st quarter of 2001 share of earnings includes a $6,113,000 non-cash gain on the issuance of units by Kaneb Pipe Line Parners LP (KPP)). The financial statements are difficult to interpret due to Kaneb's "share of the pipelines, terminaling and product marketing businesses are now required to be reported in the financial statements as 'discontinued operations -- businesses to be distributed to common shareholders'". Time will tell -- I'm not clear on all of the different factors involved. I do believe that management is attempting to unlock value. Thanks Timba. siliconinvestor.com To:TimbaBear who wrote (12624) From: mrcjmoney Monday, Jun 11, 2001 8:36 PM View Replies (2) \| Respond to of 17455 TimbaBear or anyone, "KSL will own the general partner interest and 5.1 million limited parter units of Kaneb Pipe Line Partners, L.P." --- this is an excerpt from the 6/6/01 company news. 1) KPP is already issued and trading (20.29 million outstanding shares). 2) KSL will be new symbol for the new KAB. 3) KSL owns 5.1 million KPP shares. I'm trying to identify where the 1 for 3 spinoff (which Kaneb will spinoff on 6/29/01) shares will come from? 4) This does seem like a good arbitrage opportunity -- if I can identify all of the exact issues. Based upon KPP trading already, @ $36, then this gives us part of the equation...