quote:Originally posted by aaargh: morning all....etrade rep just returned my call from this am....said her 'expert' says " not really a split..a dividend...dated 5-13..so anyone holing after that wont get..." oh he also said..."don't watch bb's go to gluvcorp website or bloomberg...he's (etrade guy) the expert...he should know..." per etrade....sigh....
tell the exper he's wrong! ex date 23rd. No way aroung that.
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posted
it's same ol same ol; brokerages are so scattered clients get diferent answers depending on we talk to; other e-traders are getting different answers...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Declaration Date Ex-Dividend Date Record Date Payable Date 7/27/2004 8/6/2004 8/10/2004 9/10/2004
On July 27, 2004, Company XYZ declares a dividend payable on September 10, 2004 to its shareholders. XYZ also announces that shareholders of record on the company's books on or before August 10, 2004 are entitled to the dividend. The stock would then go ex-dividend two business days before the record date.
In this example, the record date falls on a Tuesday. Excluding weekends and holidays, the ex-dividend is set two business days before the record date or the opening of the market – in this case on the preceding Friday. This means anyone who bought the stock on Friday or after would not get the dividend. At the same time, those who purchase before the ex-dividend date receive the dividend.
With a significant dividend, the price of a stock may move up by the dollar amount of the dividend as the ex-dividend date approaches and then fall by that amount after the ex-dividend date. A stock that has gone ex-dividend is marked with an "x" in newspapers on that day.
Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date).
If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid.
If you have questions about specific dividends, you should consult with your financial advisor. You can also get information by going to your library and reading Standard and Poor's Dividend Record Binder.
posted
sorry for the jibber....can hardly think so frustated....yes in short....the rep at etrade says thier expert says " shares bought after the 13th will not get split..." by the way i am not allowed to speak w/etrades expert...just the rep....
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posted
My broker just called me (scottrade) he got an email this moring saying that the SEC and DTC are reviewing the R/S and F/S and that they are waiting for the out come of that. Once they hear back from the DTC we will know.
He called me because I had talked to him the other day about it. I think I am the only one of his customers that is in on it.
-------------------- If all goes well then great, if not, make it work.
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quote:Originally posted by aaargh: sorry for the jibber....can hardly think so frustated....yes in short....the rep at etrade says thier expert says " shares bought after the 13th will not get split..." by the way i am not allowed to speak w/etrades expert...just the rep....
again, he's wrong, thats why we have our shares. Call SEC your getting screwed.
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Ok Sally, from Etrade, says she must look into this more. And will call me back with a more detailed explantion in the next 2-3 hours. But shares have been delivered. Just because of the r/s then f/s they refuse to allow trading. And then, was told, no matter what broker promised last night, (being able to sell by phone no matter what account said) the company will not allow any trading on GVRP.
-------------------- Never underestimate the power of stupid people in large groups.
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quote:Originally posted by DirtyDealer1123: Ok Sally, from Etrade, says she must look into this more. And will call me back with a more detailed explantion in the next 2-3 hours. But shares have been delivered. Just because of the r/s then f/s they refuse to allow trading. And then, was told, no matter what broker promised last night, (being able to sell by phone no matter what account said) the company will not allow any trading on GVRP.
posted
Sorry I should have said Etrade will not allow any trading of GVRP.
Still on my 1st cup of coffee, these early morings are killing me. After this is done I need to go back to playing poker, much better hours! Hit the nail on the head, when someone said it was the 24 hr stock. I cant work or sleep till this is done.
-------------------- Never underestimate the power of stupid people in large groups.
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Thank you for contacting us this afternoon regarding GVRP.
Due to the circumstances surrounding GVRP, Ameritrade is not allowing any buy transactions at this time.
As a holding company, we do provide our clients an outlet to the securities markets. This service may not be available on any and all markets and securities. Please keep in mind, according to the terms and conditions of your account we do reserve the right to refuse a security order at our discretion. This is referred to in the Trading Handbook as follows:
86. Ameritrade may, at its sole discretion, refuse any security order, and I shall not hold Ameritrade liable for any loss I may sustain due to its refusal to permit the purchase or sale of the security.
If you have further concerns or inquiries, please reply to this message.
Sincerely,
Joy Busse Apex Reorganization and Safekeeping, Ameritrade Division of Ameritrade, Inc.
Original Message Excluded: -------------------------
I sent another email stating that was not the only question I asked and would still like an explanation of WHY those were posted to my account in the first place without having been received first.........or at least to be told there was a warning attached. I also explained that I had been contacted on Fri to tell me they were in my account....(no warning there either).........Also wanted her to know that I was personally told they had been received on Fri and had the rep double check at that time....we will see what she has to say this time.
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posted
So folks, if they were to reverse this entire farce......are we going to have a class action lawsuit? We should not have to cover this mess. Besides if there are no shares, in the event of a reversal, how could we buy them?
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posted
I for one, respect Scottrade and Etrade a lot more than Ameritrade at this point. Very disappointed that they are willing to let me sell shares at a risk, but I am not allowed to buy.
on a lighter note....if these shares were to be rescinded, why are they continuing to let us sell and create more havoc for everyone involved?
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quote:Originally posted by cruz: anybody try placing a sell at 0.0002 today? any takers?
I'm hoping that we see some competition between MM's later on today. I want to sell some today. But not at .0001, I'm gonna try for .0002 or higher. If they want my shares they are gonna have to come get 'em. I really don't want to whach the bid.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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quote:Originally posted by dishgal1: Notice how they are being very vague in their answers. They don't want anything in writing to incriminate them. IMO
it's written all over the tickers...LOL
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
Glass, I had asked several questions in the last email....none were answered .......Usually Ameritrade is very informative and there was a bluntness to these emails I thought.
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quote:Posted by: uwm135 In reply to: None Date:5/26/2005 10:33:52 AM Post #of 54636
READ NOW.
I have been on the phone with NASD Officials, As per my conversation with Jenifer Coragela from the Market Operation Dividend Department at NASD Office, Her phone number is 2033856317 and she has confirmed with me that they will not change the EXDATE.
She went to say the follwing its not gonna happen and that this is the first time they have been involved with something like this.
She also went on saying that their is an investigation and the company must comply with all regulatory laws. She could not comment on anything other that their very well aware of the situation.
I hope I have been usefull here. I think we will make out well out of this deal. Rules are Rules. They cant be change someone is in trouble.
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