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.

Non-Tech : CHKE-Cherokee -- Ignore unavailable to you. Want to Upgrade?

To: Rick Slemmer who wrote (23)	1/5/1998 5:14:00 PM
From: Harbor	Respond to of 46

Check the CHKE thread, Message Board on Yahoo, message 42. Writer stated he had called the company and that you must hold the stock until Jan 16th to get the distribution. That would explain the reason why the stock hasn't dropped if true. That would be totally inconsistant with the Jan 2 ex-distribution date. Phone number is 310 422-0599, but I couldn't get through. Nothing about this stock makes sense including this distribution and the strange price fluctuations. I am also trying to decide wheather to sell or not and when. I am still trying to get additional infor and would appreciate any on this thread. Good luck on the stock--we may need it. Harbor

To: Rick Slemmer who wrote (23)	1/6/1998 9:38:00 AM
From: Marty Leder	Read Replies (1) \| Respond to of 46

I am not a believer, sold yesterday @13 7/8. I do not feel w/new setup that they will move in the right direction; rather they should begin to drop as a result of this move. Good luck !! Marty

To: Rick Slemmer who wrote (23)	1/15/1998 4:13:00 PM
From: Lazlo Pierce	Respond to of 46

From Briefing.Com <<CHEROKEE INC. (CHKE) 14 3/4 unch. This one requires careful review and the situation is unclear. On December 23, 1997, Cherokee put out a press release that said Cherokee "announced that it has declared a cash distribution...of $5.50 per share on its common stock, payable at or shortly after Jan. 15, 1998. The company will pay the distribution to stockholders of record as of the close of business on Jan. 2." Seems straightforward enough. The price of the stock spiked in heavy volume after the announcement from under 13 1/3 to over 17. Then, in early January the stock backed off, as would be expected after an ex-dividend date. Now the weird part. It appears that the Nasdaq has a rule (11140b) that says any company making a dividend in excess of 25% of the stock price must have the ex-dividend date the day after the payable date. This appears to apply and, the ex-dividend date may therefore be tomorrow, and shareholders of record as of today get the dividend. This would mean that shareholders that sold the stock since the presumed record date won't get the dividend they expect. Briefing called the person who put out the press release, and she said, rather obliquely, that it was her understanding that the Nasdaq rules apply, and that the record date is today, not January 2. Cherokee has not put out any press release to provide clarification. There are only a couple of hours left in trading today, and Briefing is not drawing any conclusions from this murky situation. To complicate matters, Cherokee reported excellent earnings yesterday of $0.49 a share, up from year ago $0.28 a share. This stock has been very volatile over the years. Cherokee licenses brand products such as Cherokee, Sideout, King of the Beach, and Pacific Express but has no product sales. It therefore generates cash from license deals, and when a big one came in recently, CHKE decided on the large dividend. This is a curious one to watch, but anyone interested should do independent research.>> What do ya all think? Dave