quote:Originally posted by stockvaper: George, for future reference, you might want to read up on the Insider Trading & Securities Fraud Enforcement Act of 1988 (ITSFEA)...that is why some CEO's use a "T1" halt to trading... -------------------------------------------- In part: Notice of Insider Trading
The undersigned states and attests as follows:
I understand that should I acquire material* non-public corporate or market information whose dissemination would reasonably be expected to impact the value of related securities , it would be a violation of exchange Rules and Federal Securities Laws for me to capitalize on that information by trading in those related securities while such information remains material and non-public.
*Materiality:
For purposes of securities fraud, information is material if there is a substantial likelihood that, under all the circumstances, the information would have assumed actual significance in the deliberations of the reasonable shareholder. Omitted information is material if there is a substantial likelihood that the disclosure of the omitted fact would have been viewed by the reasonable investor as having significantly altered the total mix of information made available.
I understand all that...the insider can hold material information...it does not mean they have to halt trading because they do...material information just means an insider knows something that WILL affect a PPS and they can not use it to their advantage...they have material information...it does not mean just because they know it they have to halt trading and do a PR...they would be doing this every day...They just can not use material information for their own gains... They do not have to halt trading because they are going to release material information...companies release material information everyday in PRs...I know they say a T1 is for material news....because you would not halt news on something that is not going to affect the PPS...but this is diffrent from an insider holding material news....either way we have beat it up enough....Good luck and lets see where she settles....
[ March 17, 2006, 15:36: Message edited by: George ]
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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Timothy Huff, CEO of GlobeTel stated, "We are in constant communication with Internafta and believe that so long as we feel they are continuing to work in good faith and so long as substantive progress is being made on the transaction, it is in the best interests of GlobeTel and its shareholders to allow the process to continue to its ultimate conclusion. This is a very large transaction that requires solutions to many commercial issues, the implementation of tailored banking facilities, and the conformance to many international treaties, regulatory requirements and legal matters. The parties continue to work in good faith and remain committed to building a state-of-the-art wireless network in Russia. We feel that the process must be given every reasonable opportunity to succeed given the commercial stakes involved."
gte has nothing to lose here...huge amounts of money transacted with many different banks. you have to make sure everything is done perfectly..if more time is needed than so be it. The mistake,as i see it, was having a dead line in the first place
-------------------- jordan Posts: 5812 | From: st paul,mn | Registered: Feb 2004
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George...we agree...they do not have to halt trading when they hold material information, but I'm saying sometimes that is the reason they do, and that is their decision.
-------------------- "Whether you think that you can, or that you can't, you are usually right." - Henry Ford Posts: 798 | Registered: Jun 2004
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quote:Originally posted by stockvaper: George...we agree...they do not have to halt trading when they hold material information, but I'm saying sometimes that is the reason they do, and that is their decision.
I guess we are both getting to the same place on diffrent roads.....thanks
Looking pretty good though...I think this news just keeps the PPS going sideways because it really is just another extension at this point..."Hang in their guys we are still working on it and it is not dead but the payment plan is diffrent and it might take a little longer finalize"....show not really have much affect in the end to me...
Needs to get back to about 3.22 to be back on track from the first anouncment about the delay...
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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Guess I was wrong about it tanking...I thought at best it would trade in the same area but hell you never know how the street will react to news like this...Thats why I said I guess it depends on how you are playing, long, short or shorting....good news for longs because it means it is not dead...
-------------------- If all goes well then great, if not, make it work. Posts: 2562 | From: Louisville, KY | Registered: Feb 2005
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Peaser.... what do you work for motley fool? The deal is far from dead and you call it BS this is great news for us holding since it went up so much and the deal isn't even finalized
Posts: 274 | From: union,nj,usa | Registered: Jan 2004
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I really don't care what or why a stock goes up or down or if whatever does it is BS or valuable information, so long as I make money.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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The actual PR makes it appear that the deal is closer to completion than it was previously thought. Primarily a change in payment structure at the request of the lead bank. I can see why this PR caused the pop today.
I think GTE can most likely hold some of these gains, if not pop higher next week. The reason is two-fold.
COB Myers is officially out as of 3-19-06(Sunday), so it would be a safe bet that they'll announce the new COB next week(could be huge depending on identity of new COB). Tim Huff also already said that the 4Q numbers were going to be released early(due 3/31), which more likely than not also means next week. Both of these items should be released next week, which should stabilize and drive the SP. GLTA!!
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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imakmony2005
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posted
Very nice HUFF keep the ball rolling.
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quote:Originally posted by imakmony2005: Very nice HUFF keep the ball rolling.
Didn't you read the NEWS???? It mentioned in there that they needed to check the business plan of both companies before financing could even be set up. I took the news as another attempt to keep the shareholders aboard the sinking ship. If this was all a done deal like all the news releases made it sound.....why are they having to change banks....re-evaluate the deal.....and business plans.
Peaser.....I mean the MOTLEY FOOL will love the latest news.....I would EXPECT some wise cracks out of them on the latest news report.
But when they halted trading....I thought the stock was going to CRASH!!! (deal off).
Posts: 2367 | From: Detroit | Registered: Mar 2005
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imakmony2005
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Sorry i take that news to be good, Thats alot of cash to change hands, I like that HUFF is getting the i dotted and Ts crossed.Ship all that stuff over there and they dont pay whats gte gonna do nothing, They just kick there butts right out of the country and were screwed.GTE GOING UP IMHO
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Face the facts: because the markets found the news to be good, it's good news. Reason being is that the contract is still there, whereas they had threatened to terminate it at the end of this week. This pushed the price higher in the "last hour only," and the MM's dragged it lower in order to buy cheaper in preparation for Monday's early run. This one's going higher on Monday!
[ March 18, 2006, 14:01: Message edited by: rkh2005 ]
Posts: 340 | From: Pleasanton, CA | Registered: Jan 2006
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I guess we should be expecting some fnancial information being released here shortly. I do not remember seeing the Oct-Dec 2005 quarterly financials.
Posts: 230 | From: Virginia | Registered: Mar 2005
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quote:Originally posted by Edster: I guess we should be expecting some fnancial information being released here shortly. I do not remember seeing the Oct-Dec 2005 quarterly financials.
4Q due before 3/31, and Tim Huff did say they would release revs a few days early. Also new COB is to be announced this week. Might get us a nice spike out of the deal. GLTA!!
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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Looks like we're gonna be hanging out in this range until some news pops.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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It's sure nice to have you around for GTE advice. For me and all the rest of us, Thanks!
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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J. Randolph Dumas Named Chairman of GlobeTel Communications Corp. FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 23, 2006--GlobeTel Communications Corp. (AMEX:GTE) today announced that J. Randolph Dumas, Vice Chairman, has been elected Chairman of the Board of Directors, succeeding Sir Christopher Meyer, who remains with the Company as Chairman of the GlobeTel International Advisory Board, but who has resigned his seat on the Board of Directors.
Randolph Dumas stated, "After more than a year-and-a-half of intensive involvement with my friends and colleagues at GlobeTel, I have come to greatly admire the highly dynamic, entrepreneurial and cutting-edge technology culture which dominates the company. While there are growing demands associated with managing, prioritizing and positioning our five businesses, we are also bringing a series of world-class business executives into the company in order to fully nurture and control the rapid growth in each of these businesses. I am hugely excited about the quality and quantity of the major revenue-generating opportunities facing us and I very much look forward to capitalizing on these situations with Sir Christopher, with the Board, with Tim Huff and with the highly-committed GlobeTel team."
Timothy Huff, CEO, responded, "I'm delighted that Randolph Dumas has agreed to step into this very demanding position as our Chairman. We have known each other for more than 15 years, during which time I have come to deeply respect and rely upon his outstanding judgment, counsel and vision. With more than 30 years of professional experience as a senior investment banker and as a successful private equity practitioner globally, he brings a wealth of invaluable perspective about the cross-border commercial and capital markets. I believe he and I have developed, over the years, the kind of time-tested partnership ethic which will serve both the company and its shareholders in an outstanding way."
In his new role as Chairman of the Company's newly-formed International Advisory Board, Sir Christopher, although resigned from the Board of Directors, maintains an important geo-political role in GlobeTel's international initiatives. The Company anticipates that Sir Christopher and his appointees will make an excellent series of targeted contributions to its activities around the world without the significant demands of managing and monitoring its growing global organization.
"I am extremely pleased to be able to leave my responsibilities in the very capable hands of Mr. Dumas," stated Sir Christopher "He's a superlative business practitioner. His exceptional international experience, combined with his intelligent and tireless support of GlobeTel's objectives, ensures that the company is well-positioned to capitalize on its ever-expanding array of commercial opportunities."
About J. Randolph Dumas
J. Randolph Dumas has served as a member of the Board of Directors of GlobeTel Communications since December 2005. Mr. Dumas served as a Naval Aviation Officer during the Viet Nam War Era and, later, served as a briefing officer within the Central Intelligence Agency in Washington D.C. before attending The Wharton School where he completed his MBA degree in finance in 1977. Currently, a resident of London, England - he has lived and worked in Europe for the past 25 years. He became a senior Managing Director at Salomon Brothers International Limited where he was responsible for the firm's European corporate finance, mortgage securities and real estate investment banking businesses for a number of years. Subsequently, Mr. Dumas founded and became the Managing Partner of two prominent private equity firms: Dumas West & Co. (a 50:50 partnership with the "Baby Bell" telecommunications company, US West) and Rubikon Partners, a firm focusing on European leveraged buyouts founded by Mr. Dumas, Dr. Henry Kissinger, Thomas F. McLarty III (President Clinton's Chief of Staff) and Leo A. Daly III. Mr. Dumas has had extensive experience working in virtually every business sector and in every country within Europe, Asia and in much of the Middle East. He maintains strong relationships in these countries at the highest levels.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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Kinda quiet for GTE today. Other than the little bump-up due to the naming of Mr. Dumas as the new GTE Chairman - not much happenin. Looks like we are kinda stuck in the 2.50 - 2.60 price range for a while.
Posts: 230 | From: Virginia | Registered: Mar 2005
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quote:Originally posted by Edster: Kinda quiet for GTE today. Other than the little bump-up due to the naming of Mr. Dumas as the new GTE Chairman - not much happenin. Looks like we are kinda stuck in the 2.50 - 2.60 price range for a while.
Looks like we'll continue idling in this range until the 10Q is released later this week.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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