Comments on Edward Tseng's articles RSS Syndication from SeekingAlpha.com http://seekingalpha.com/author/edward-tseng/articles http://seekingalpha.com/article/60907-housing-prices-demand-correction?source=feed#comment-112962 112962 Sat, 26 Jan 2008 15:46:38 -0500
It will take time for all to get their reality dose in time.]]> http://seekingalpha.com/article/60907-housing-prices-demand-correction?source=feed#comment-112566 112566 Thu, 24 Jan 2008 00:18:00 -0500 http://seekingalpha.com/article/60907-housing-prices-demand-correction?source=feed#comment-112185 112185 Tue, 22 Jan 2008 12:18:28 -0500 http://seekingalpha.com/article/59209-indymac-bancorp-time-to-take-reos-online?source=feed#comment-109813 109813 Sat, 12 Jan 2008 14:06:05 -0500
**** **** ****
My dear,
The price fluctuation of a stock DOES NOT make any effect on the daily operation of a company issuing the stock.
The only chance for IMB as a business entity to get richer or poorer is the time IMB makes a public offering to get capital from the investors or public.
The sock price goes higher doesn't make IMB richer as a company. Conversely it does not make it poorer. No profit or loss for IMB gets in either conditions.
Thank you for letting me know the Q42007 report will be due by the end of January 2008. Yes, I believe it is a critical time for the change of future direction of IMB stock.
Basically before that point, everything happen is just "social sentiment" which may be not rational or can be controlled by IMB management. ]]> http://seekingalpha.com/article/59209-indymac-bancorp-time-to-take-reos-online?source=feed#comment-109729 109729 Fri, 11 Jan 2008 18:21:21 -0500
Shareholder’s Email:

Mike,

It’s been some time since we’ve had a chance to meet and talk. I’m a shareholder once again … While I realize that the decline in IMB’s stock price has been painful to you in many ways (not just financially) I think there can be no stronger message about the viability of IMB as an institution than significant insider buying at these depressed levels. If management can’t step up at these levels, then imagine what a “leap of faith” it must be for outsiders to purchase the stock at these levels. Thanks for taking the time to read my email in what must be an incredibly hectic time for you. Best of luck.

Mike Perry’s Response:

I completely agree with the point of your note. I think you know I bought $1 million of our stock earlier this year at $29. In addition, we have had a lot of other managers and some directors purchase this year, too.

Also, management and the board have lost more personally this year than anyone else by far…as most of us have not sold any stock or options in 2006 or 2007 (no sales from the CEO, President and CFO during this time). As a result, most of us are not in a personal financial position to purchase shares…even though we would like to.

With that said, management and certain key employees (about 130 employees total) have over $40 million in the deferred compensation plan, and the company has arranged to be able to “open this plan up” and for individuals to be able to use these funds to purchase IMB stock….and several of us, including myself, plan to do this (personally, I am planning to invest more than $1.5 million).

Unfortunately, our window for insiders to trade IMB stock is currently closed.

I would expect that the window will reopen once we release 4th quarter earnings in late January, and I would expect to see myself and other insiders purchase in a material way (for management) at that time. I hope that makes sense.

mike
]]> http://seekingalpha.com/article/59209-indymac-bancorp-time-to-take-reos-online?source=feed#comment-108873 108873 Tue, 08 Jan 2008 00:04:08 -0500 Most content of the article are initially written for a professional real estate website. To better understand those professional jargons, you may go to the website or my blog at: activerain.com/blogs/r....

There are basically 3 stages in a foreclosure.
The 1st one is called NOD (Notice of Default) that means something real and serious starts legally.

The 2nd is called NOTS (or NOT in short) that means a date of foreclosure is scheduled legally.

A property in the above two stages are called "pre-foreclosure" property.

The 3rd is a foreclosure sale by itself. There is a foreclosure minimum bid amount for the sale. If nobody wants buy the subject property for that amount, there is no way for you to bargain it down, the property will be struck off and the title to the property is legally transfered to a lender at that instant. Of course, you can make a deal with the lender at the auction site right after the auction is completed. You may get less, but it depends the situation.

Once the foreclosed property belongs to a bank or lender, it is called a "REO" (real estate owned) by the general public. In fact, it is not correct, it shall be called "OREO" (other real estate owned) since some banks DO own some properties for its daily business operation.

Hope I make it clear. In this case, if someone is willing to raise his hand to pay $380K (the minimum bid for foreclosure sale), he will get and own the property, not the lender. The property will not be called a REO.

Since nobody wants to pay that price of $380K, the lender has to take it back as a REO and try to sell it by a more reasonable price. Sometimes, the asking price will be even higher than the minimum bid, after a 2nd junior lien or other liens are wipe out.
]]> http://seekingalpha.com/article/59209-indymac-bancorp-time-to-take-reos-online?source=feed#comment-108864 108864 Mon, 07 Jan 2008 23:12:06 -0500