Hey Jim you told audience to sell Barclays (BCS) at PE of 1 at $2.75 US....I bought 25000 shares this week Barclays hit $7.30 thanks JIM....LOL
I guess you should verify some facts before assuming this piece of /%$/"/""!!"&??&...
"While many US banks have been hit hard with writedowns, losses, and resulting drops in stock prices, many European banks continue to trade at premium multiples despite facing similar if not more extreme credit risks and losses."
and dividend coming....read this... "We have committed to recommencing dividend payments during the second half of 2009. Thereafter, and as previously announced, dividend payments will be made on a quarterly basis. We will set out our dividend policy at the Annual General Meeting in April.John S. Varley CEO"
WFC:trade at PE of 22.17?? $0.05 dividend P/E (ttm): 22.17 EPS (ttm): 0.70
JPM:trade at PE of 19.30 dividend $0.05 P/E (ttm): 19.30 EPS (ttm): 1.37
BAC:trade at PE of 13.03 dividend $0..05 P/E (ttm): 13.03 EPS (ttm): 0.55
By the way Barclays (BCS) dividends coming back at next AGM...not like JPM...WFC..Citi....to name a few...LOL
2. We have committed to recommencing dividend payments during the second half of 2009. Thereafter, and as previously announced, dividend payments will be made on a quarterly basis. We will set out our dividend policy at the Annual General Meeting in April. John.S.Varley CEO
I guess you should know that most US Banks are in Caymans Islands like Canadian Banks and UK Banks just to put your note in perspective....because you just target Barclays here...wonder why???
Preview from Europe: The Bears Are Back [View article]
Few more banks here...LOL
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Cayman Brac & Little Cayman Cayman National Bank Ltd (Tibbetts Sq, Cayman Brac 948-1551 948-1261 Cayman National Bank Ltd (Blossom Village, Little Cayman) 948-0051 948-0049
Alexandria Bancorp Limited P.O. Box 2428, Grand Cayman, Cayman Islands, B.W.I. Phone: (345) 945-1111, Fax: (809) 945-1122. Email: Bancorp@CandW.KY Contact: Frank Flanagan - Managing Director, David Dobson - Trust and Corporate Services Wholly owned by Guardian Capital Group Limited, Toronto, Canada and our services include: Private banking (min. deposit US$100,000), trust and company formation and administration, mutual fund administration, investment management, Alexandria mutual funds money market and equity funds - min deposit US50,000 Subsidiary companies in BVI and Barbados
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Ansbacher (Cayman) Limited P.O. Box 887, George Town, Grand Cayman, Cayman Islands, B.W.I. 20 Jennett Close Tel: 345-949-8655 Fax: 345-949-7946 Telex: CP 4305 Contact: Bryan Bothwell - Managing Director, Gary Linford - Executive Director, Gary Crossan - Manager Trust Dept., Indy Singh - Head of Corporate Services Dept., Nestor Castillo -Head of Banking.
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Banco Bilbao Vizcaya P.O. Box 1115, George Town, Grand Cayman, Cayman Islands, B.W.I. Eliaabethan Square Ttl: 809-949-779() Fax: 809-949-9086 Contact: Enrique Arranz--Ceneral Manager; Elias Beniflah--Deputy General Manager Services: BBV, a major provider of banking and other financial services in Spain, also has an extensive international presence. Private banking clients in Grand Cayman thus have access to the full range of services available through our group network.
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Banco Bradesco, S.A. P.0. Box 30327 SMB, Grand Cayman, Cayman Islands, B.W.1. Caledonian House, 3rd Floor, Mary Street Tel: 809-945-1200 Fax: 809-945-1430 Telex: 4264 BIIADESCO CP Contact: Joao Albino Winkelmann-Manager Services: Promoting and providing support to international trade related financing, in line with the strategy of the Bradesco's head office in Brazil.
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Banco do Estado de Sao Paulo, S.A. P.O. Box 1811, George Town, Grand Cayman, Cayman Islands, B.W.I. The Clarion Grand Pavilion Hotel, 2nd Floor, West Bay Road Tel: 809-947-5144 Fax: 809-947-5153 Tclex: 4296 BANESGC CP Swift: BESPUS33ACAY Contact: Dorival Soares de Mello-General Manager; Odiwaldo T. Sancinetti--Manager Services: Incorporated in Brazil with limited liability.
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Banco do Estado do Rio Grande do Sul, S.A. -Banrisul P.O. Box 31499 SMB, Grand Cayman, Cayman Islands, B.W.I. British American Centre, First Home Tower Tel: 809-949-6604 Fax: 809-949-4834 Contact: Alexandre Pedro ronzi--General Manager Services: International trade-related transactions, private banking, asset management.
Banco Economico, S.A. P.O. Box 1112, George Town, Grand Cayman, Cayman Islands, B.W.I. British American Centre, Building 3, 2nd Floor, Dr. Roy's Drive Tel: 809-945-1027 Fax: 809-949-6455 Telex: 4223 BESA CP Contact: Andre Neeser--Manager Services: Deposit accounts, private banking, investment management and advisory services; trade financing and letters of credit.
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Banco Portugues Do Atlantico P.O. Box 30124 SMB, Grand Cayman, Cayman Islands, B.W.I. Scotia Building, 4th Floor, Cardinal Avenue Tel: 809-949-8322 Fax: 809-949-7743 Telex: 4283 ILEK Contact: Alvaro Cortes--Managing Director; Valdemar B. Lopes--Deputy General Manager Services: Banco Portugues Do Atlantico, Portugal's largest commercial and international bank, offers a comprehensive range of corporate and customer-tailored private banking services to its international customer base. We also offer agency representation to international banks as well as company incorporation and registered office services to individual and corporate clients.
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Banco Real S.A Grand Cayman Branch P.O. Box 473, George Town, Grand Cayman, Cayman Islands, B.W.I. Genesis Building, 3rd Floor, ~ennett Street Tel: 809-949-8633 Fax: 809-949-8742 Contact: Luis Flavio Nogueira Da Silva-General Manager; Wilson Coelho Do Vale-- Assistant Manager Services: Branch of a Brazilian bank, headquartered in Sao Paulo, Brazil. The branch was established in 1974, under category "B" license. Its operations consist primarily of promoting and providing support for international trade financing and investments for its corporate clients.
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Bank Bali Cayman Islands Branch P.O. Box 31241 SMB, Grand Cayman, Cayman Islands, B.W.I. Micro Commerce Centre #203A, North Sound Road Tel: 809-945-2921 Fax: 809-949-6532 Contact: Hadi Lesmon~--Vice President; Ary Satrio--Assistant Manager Services: Commercial and syndication loans, corporate finance, treasury services, trade finance, investment funds management, guarantees.
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Bank of Bermuda (Cayman) Limited P.O. Box 513, George Town, Grand Cayman, Cayman Islands, B.W.I. British American Tower, 3rd Floor, Dr. Roy's Drive Tel: 809-949-9898 Fax: 809-949-7959 Contact: Stanley G. Wright--Manager, Corporate Banking Services: Corporate banking services include: Bankline-pre-eminent among the bank's cash management services. Allows the client on-line access via their PC to the bank's computers. Global check is our exclusive interest bearing checking account, denominated in U.S. dollars or British pounds sterling, providing access to offshorefunds.
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Bank of Butterfield International (Cayman) Ltd. P.O. Box 705, George Town, Grand Cayman, Cayman Islands, B.W.T. Butterfield House, Fort Street Tel: 809-949-7055 Fax: 809-949-7004 Telex: 4263 BFIELD CP Contact: Nicholas I. Duggan, FCIB-Managing Director; Coner O'Dea, ACADirector &Financial Controller; H. Camille Wight--Manager, Retail Banking Division Services: As one of the six clearing banks in the Cayman Islands, we offer a comprehensive range of personal and confidential services including: trust, corporate and private banking as well as investment management to our clients.
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The Bank of Nova Scotia P.O. Box 689, George Town, Grand Cayman, Cayman Islands, B.W.I. Cardinal Avenue and Airport Lndustrial Park Tel: 809-949-7666 Fax: 809-949-0020 Contact: Colin McKie-Vice-President &Manager; Bruce F. Bowen~ommercial Banking Manager; Doyle R. Scott-Retail Banking Manager Services: Complete range of local and international personal, commercial and corporate banking services to selected clients. Serving Cayman for over 25 years Scotiabank is one North America's largest financial institutions operating in 44 countries through 1,400 branches and offices worldwide.
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BankAmerica Trust &Banking Corporation (Cayman) Limited P.O. Box 1092, George Town, Grand Cayman, Cayman Islands, B.W.I. Fort Street Tel: 809-949-7888 Fax: 809-949-7883 Telex: CP 4234 BATCAYL Contact: Daniel Haase--Managing Director; Charles Farrington--Deputy Managing Director; Michael Carney--Deputy Managing Director. Services: Deposits, payments, Forex, S.B.L.C.'s. loans, personal trust services for tax and estate planning, corporate services for personal investment holding companies, mutual funds administration, captive insurance, investment management, safe custody.
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Barclays Bank PLC
P.O. Box 68, George Town, Grand Cayman, Cayman Islands, B.W.I. Cardinal Avenue Tel: 809-949-7300 Fax: 809-949-7179 Telex: CP 4219 Contact: Rolf Phillips--Manager Offshore Services; Farida Bedden--Senior Account Executive Services: As a full branch of the major British bank, Barclays provides a wide range of banking services to both the domestic and offshore11 sectors, including a multi-currency deposit service, securities trading, property finance and project finance.
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Barclays Private Bank &Trust (Cayman) Limited P.O. Box 487, George Town, Grand Cayman, Cayman Islands, B.W.I. Harbour Centre, 4th Floor, Mary Street Tel: 809-949-7128 Fax: 809-949-7657 Contact: Clive W. Black--Managing Director; Alan Symington--Deputy Managing Director; Kevin Brown--Trust Manager Services: Dedicated to the management of substantial personal assets. Private banking, investment management, trusts, company management, registered offices and bank agencies. Part of the Barclays PLC Group.
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Caledonian Bank &Trust Limited P.O. Box 1043, George Town, Grand Cayman, Cayman Islands, B.W.I. Caledonian House, Ground Floor, Mary Street Tel: 809-949-0050 Fax: 809-949-8062 Contact: David S. Sargison--Managing Director Services: Category "A" licensed bank and trust company, licensed mutual fund administrator and insurance manager. Provision of corporate, trust and mutual fund administration services, registered office and accounting services.
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CIBC Bank and Trust Company (Cayman) Limited P.O. Box 695, George Town, Grand Cayman, Cayman Islands, B.W.I. Edward Street Tel: 809-949-8666 Fax: 809-949-7904 Telex: 4222 CP Contact: Peter H. Larder--Managing Director; Tom Crawford-Deputy Managing Director, Banking Division; Ben Gillooly--Deputy Managing Director, Trust Division Services: Management and representation of offshore11 banks; fiduciary services for managed banks; full retail banking including term deposits, letters of credit, foreib~ exchange, checking and savings accounts. Inter-nation trade and project finance.
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Coutts &Co (Cayman) Ltd. P.O. Box 707, George Town, Grand Cayman, Cayman Islands, B.W.I. West Bay Road Tel: 809-947-4777 Fax: 809-947-4799 Contact: Chris Fish--Managing Director, Gerry Williams--Deputy Managing Director; Andrew Galloway--New Business Director Services: Investment management, offshore11 trust structures, company formation and management, banking, mutual funds and managed banks.
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Delta Bank and Trust Company Grand Cayman P.O. Box 706, George Town, Grand Cayman, Cayman Islands, B.W.I. Genesis Building, 2nd Floor, Jennett Street Tel: 809-949-0437 Fax: 809-949-9327 Contacts: 1. Henrique D. Campos--General Manager; Ademar M. Ferreira--Manager; Leonardo M.S. Couto--Junior Trader Services: A full range of international private banking services ranging from money market accounts to sophisticated investment portfolio management.
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Deutsch-Sudamerikanische Bank AG, Grand Cayman Branch P.O. Box 714, George Town, Grand Cayman, Cayman Islands, I3.W.I. Anderson Square Building Tel: 809-949-8888 Fax: 809-949-8899 Contact: Guenter Backer--Manager; David R. Ferry--Trust Manager Services: Trust services; company formation and registration; investment management services.
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Dextra Bank &Trust Co. Ltd. P.O. Box 2004, George Town, Grand Cayman, Cayman Islands, B.W.I. Tel: 809-Y49-7844 Fax: 809-949-2795 Contact: Peter Blackman-Managing Director Services: Private and investment banking, trustee services, company formation and administration, estate planning and administration, ship registration. Discount Bank &Trust Company (Incorporated In Switzerland)
P.O. Box 1047, George Town, Grand Cayman, Cayman Islands, B.W.I. Bank of Nova Scotia Building, Albert Panton Avenue Tel: 809-949-5733 Fax: 809-949-7615 Contact: Israel Behar-Manager Services: Private and offshore11 banking.
First Cayman Bank Ltd.
(This bank is in liquidation - for further information contact the liquidators.
IBT Schroder Bank &Trust Company
P.O. Box 1040, George Town, Grand Cayman, Cayman Islands, B.W.I. West Wind Building, 3rd Floor Tel: 809-949-2849, 809-949-5566 Fax: 809-949-5409 Telex:0293-4274 Contact: Rory Heary--General Manager; Virginia Suekoo--Corporate Officer Services: A subsidiary of the Industrial Bank of Japan based in New York City. Also affiliated with the Schroder Group. Offering bank representation in Cayman, Lnterbank deposits, U.S. dollar clearing and cash management services.
ITAU Bank Ltd.
P.O. Box 1379, George Town, Grand Cayman, Cayman Islands, B.W.I. Ansbacher House, 3rd Floor, Jennett Square Tel: 809-947-4175 Fax: 809-947-4185 Telex: 4284 Contact: Antonio Carlos Genoveze-General Manager; Luisa Vaquinhas-Assistant Manager; Gustavo Alegria-Assistant Manager Services: ITAU Bank Ltd. was incorporated in the Cayman Islands on 24 July 1992, providing offshore11 commercial banking ser vices under class "B" unrestricted banking and trust license. A wholly owned subsidiary (Banco ITAU S.A.) is established in Brazil.
Lloyds Bank International (Cayman) Ltd.
P.O. Box 857, George Town, Grand Cayman, Cayman Islands, B.W.I. CIBC Building, 3rd Floor Tel: 809-949-7854 Fax: 809-949-0090 Services: Providing a full range of international private banking and trust services, company incorporation and portfolio management.
Mercury Bank and Trust Ltd.
P.O. Box 2424, George Town, Grand Cayman, Cayman Islands, B.W.1. Caledonian House, 3rd Floor, Mary Street Tel: 809-949-0800 Fax: 809-949-0295 Telex: 4331 MERCURY CP Contact: Volker Mergenthaler-Resident Manager Services: Company formation and registration, trusts, mutual funds administration and banking services.
Morgan Grenfell (Cayman) Limited
P.O. Box 1984, George Town, Grand Cayman, Cayman Islands, B.W.I. Elizabethan Square Tel: 809-949-8244 Fax: 809-949-8178 Contact: Nigel C. Bradley--Executive Director; Darren P. Riley--Secretary; Andrew R. Collins--Manager Services: Morgan Grenfell (Cayman) Limited is part of the Morgan Grenfell Offshore Group and wholly owned subsidiary of the Deutsche Bank Group and provides offshore11 administrative services to mutual funds, asset backed securitizations and banking services to inter-nation corporate clientele.
Mutual Security Bank (Cayman) Ltd.
P.O. Box 31120 SMB, Grand Cayman, Cayman Islands, B.W.I. Caledonian House, 3rd Floor, Mary Street Tel: 809-949-8002 Fax: 809-949-4006 Telex: 4278 MSB Contact: Andre Iton; Anthony Powell; Karen Parchman Services: Provides a wide range of private banking services to the international private and corporate client, including formation and management of companies. Small accounts are welcome.
PT. Bank Negara Indonesia (Persero)
P.O. Box 30708 SMB, Grand Cayman, Cayman Islands, B.W.I. First Home Tower, 2nd Floor Tel: 809-947-5573 Fax: 809-949-4166 Telex: 4291 BNICMN CP Contact: Thomas S. Pamell--General Manager; Martono Soeprapto-Manager Funds &Treasury; Tote Suharto-Loan Administration Officer Services: Specialises in loans to Indonesian companies and other Indonesian related business. Active in foreign exchange and money market activities for clients and own account.
Queensgate Bank and Trust Company Ltd.
P.O. Box 30462 SMB, Grand Cayman, Cayman Islands, B.W.I. Ugland House, South Church Street Tel: 809-945-2187 Fax: 809-945-2197 Telex: 4279 QBTC CP Contact: J.D. Hunter--Managing Director; M. Couch--Manager, Capital Markets; F.O. Flanagan-Vice-Chairman Services: Full range of financial services, professionally managed and in strictest confidence.
Royal Bank Of Canada
P.O. Box 245, George Town, Grand Cayman, Cayman Islands, B.W.I. Cardinal Avenue Tel: 809-949-4600 Fax: 809-949-7396 Telex: CP 4244 Contact: H.C. Chisholm--Manager; G.M. Dombowsky--Senior Assistant Manager; C.M. Chan-A-Sue-Assistant Manager, Customer Service &Operations Services: We cover all aspects of personal and commercial banking, trust and investment services, etc. As Canada's largest bank, we offer you international services through a worldwide network of branches and correspondents.
Schroder Cayman Bank and Trust Co. Ltd.
P.O. Box 1040, George Town, Grand Cayman, Cayman Islands, B.W.I. West Wind Building, 3rd Floor Tel: 809-949-2849, 809-949-5566 Fax: 809-949-5409 Telex: 0293-4274 Contact: Rory Heary--General Manager; Jeffrey Hodkin--Assistant General Manager; Greg Link--Assistant Manager Services: A member of the international merchant banking network of the London based Schroder Group. Full range of banking and trust services including: investment management, unit trusts, mutual fund administration, company formation and management, accounting and bank representation.
Sul America International Bank (Cayman) Ltd.
P.O. Box 30869 SMB, Grand Cayman, Cayman Islands, B.W.I. Genesis Building, 3rd Floor Return to Cayman Islands Home Page
Jim Cramer's Stop Trading! 2/7/08: Prudential's Prudence [View article]
Hi Jim you should tell US investors to buy Canadian Banks like RBC (RY) They keep buying back shares vs US Banks who are Dilluting sharesholders with more financing and CDO and SIV and more crap....look at Citigroup with over $900B debt on balance sheet??? vs $30B with $300B cash for RY??? Manulife Financial and Royal Bank buyback shares – Insiders Posted: February 08, 2008, 10:00 AM by Jonathan Ratner Market Call, SEDI Astral Media, Manulife Financial, Royal Bank, Stantec and TransCanada are included in this report.
Insider transactions filed on Feb. 7, 2008 Source: SEDI
Astral Media Inc. bought back 286,100 shares between Jan. 16 and Jan. 31, 2008, bringing its holdings to 5,451,039 shares.
Manulife Financial Corp. bought back and cancelled 2,896,300 shares between Jan. 4 and Jan. 31, 2008.
Royal Bank of Canada bought back and cancelled 11,020,000 shares between Jan. 3 and Jan. 16, 2008.
Jim Cramer's Mad Money Lightning Round, 1/9/08: Mary Just Might Make It After All [View article]
Jim forget to tell you this from Q3 analysts meeting:
This is from the CFO Kevin Twomey:
Ed Kelly - Credit Suisse
In terms of the Eckerd synergies, were the synergies you achieved this quarter in line with what you had expected?
Kevin Twomey
Very much so, Ed.
Ed Kelly - Credit Suisse
Can you give us a sense as to how much of that $200 million has been achieved so far, year-to-date?
Kevin Twomey
As we talked before, because of some of the ramp up, the fourth quarter is not evenly spreads off the three quarters, but we are very, very close to two-thirds of it.
OK 2/3 of $200M=$133M saving in Bank...Copy that ??
Next...
Ed Kelly - Credit Suisse
Kevin, could you just go over the liquidity situation? Whens your next big maturity? Whats under the revolver? What are you expecting in free cash for this year? Do you still expect it to be positive next year?
Kevin Twomey
The required maturities over the next three years are less than $175 million and the largest component of that is the $150 million note thats due December 15, 2008. Basically as we are going through the integration and ramping up the synergies, fiscal 2008 is going to be what everybody refers to as a negative free cash flow. In other words, operating cash flows will be less than the capital expenditures.
But in fiscal 2009, we still expect operating cash flows to exceed CapEx and in fact have us paydown the revolver. So from a, if you will, strategic perspective, from a commitment in terms of keeping things balanced, nothing haschanged. We are, if you will, very, very flexible; we have a lot of flexibility with regards to revolver and there are no restrictions on it.
So we think we are in very good shape, and as I mentioned, we areat our holiday season third quarter inventory build along with the planogram, retrofitting the Brooks/Eckerds, along with the moving out of the non go-forward inventory and restocking adding an additional burden in building inventory. So, we are kind of where we need to be, but that doesnt mean we dont have opportunities. I think that I would be remiss in my duties as a CFO by saying that we arent always looking for ways to improve the investment of our working capital inthe business.
And last....
John Heinbockel - Goldman Sachs
Finally, you sound pretty comfortable with the revolver availability. At this point you dont seethe need to go out and raise permanent capital to be able execute the CapEx program over the longer term? You are happy with the availability on the revolver?
Kevin Twomey
Very much so, John. I mean, we basically established our revolver and with the mix of revolver and term loan and senior notes with the idea in mind that we needed to have a lot of flexibility and a lot of liquidity to support our business plans over the next several years.
I know its inthe back of everybodys mind because the markets areso goofy right now, but we dont have to access the capital market to execute and support our business plan.
Jim Cramer's Mad Money Lightning Round, 1/9/08: Mary Just Might Make It After All [View article]
Hey Jim you didn't say that Rite Aid (RAD) was a takeover target at $3.50 why???
The Capital Research analyst, stated that the title of Jean Coutu Group may rise sharply if Rite Aid (NYSE: RAD), American Chain Drug Stores, owned 31.7% by Jean Coutu Group, was acquired.
As I mentioned Jean Coutu Group holds 31.7% of Rite Aid or approximately 252 million shares, which closed yesterday at Cap $ 2.2 Americas. The real value of the investment is approximately 560 million Americans.
What nobody said it and the problem is the following is that the same shares of Rite Aid worth $ 6.38 to June 29, 2007.
In other words, in six months, the placement du Groupe Jean Coutu melted like snow in the sun. The course is worth 3.5 billion American (3731 billion Canadian), the investment has grown to 560 million US-dollar (565.54 million).
What was the actions of the Jean Coutu Group 6 months ago? At the same time placing Rite Aid worth 3,731 billion Canadian, or at June 29, 2007, shares of Jean Coutu Group worth $ 15.50.
So in closing price yesterday, while the placement du Groupe Jean Coutu in Rite Aid founded nearly 85% (in Canadian currency), the shares of Jean Coutu Group lost almost 28%.
Some analysts believe the US drugstore chain Rite Aid could be acquired by a competitor. Assuming that possibility and the purchaser would pay approximately $ 3.50 reflecting a fairly reasonable premium of nearly 45% over the closing price yesterday of $ 2.22.
If this situation took place, the Jean Coutu Group therefore receive 789 million Americans for all its shares of Rite Aid.
Cramer's Mad Money - 10 Stocks to Watch (3/23/09) [View article]
This is your crap...on paper Jim....
Do say "I SCREW UP" sorry Barclays...LOL
Cramer's Mad Money - 10 Stocks to Watch (3/23/09) [View article]
this week Barclays hit $7.30 thanks JIM....LOL
I guess you should verify some facts before assuming this piece of /%$/"/""!!"&??&...
"While many US banks have been hit hard with writedowns, losses, and resulting drops in stock prices, many European banks continue to trade at premium multiples despite facing similar if not more extreme credit risks and losses."
Barclays (BCS) trading at PE of 1.99
P/E (ttm): 1.99
EPS (ttm): 3.32
and dividend coming....read this...
"We have committed to recommencing dividend payments during the second half of 2009. Thereafter, and as previously announced, dividend payments will be made on a quarterly basis. We will set out our dividend policy
at the Annual General Meeting in April.John S. Varley CEO"
WFC:trade at PE of 22.17?? $0.05 dividend
P/E (ttm): 22.17
EPS (ttm): 0.70
JPM:trade at PE of 19.30 dividend $0.05
P/E (ttm): 19.30
EPS (ttm): 1.37
BAC:trade at PE of 13.03 dividend $0..05
P/E (ttm): 13.03
EPS (ttm): 0.55
NOW who trades at higher multiples???
Gewwwezzzz stop lying...LOL
Financial Sector Must Be Reined In [View article]
2. We have committed to recommencing dividend payments during the second half of 2009. Thereafter, and as
previously announced, dividend payments will be made on a quarterly basis. We will set out our dividend policy
at the Annual General Meeting in April.
John.S.Varley CEO
Financial Sector Must Be Reined In [View article]
www.ecayman.com/fin/ba...
Preview from Europe: The Bears Are Back [View article]
Cayman Islands area code - (345)
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e Alexandria Bancorp Limited 945-1111 945-1122
e Altajir Bank 949-5628 949-6339
e BNP Private Bank & Trust Cayman Ltd 945-9208 945-9210
e Banca Unione Di Credito (Cayman) Ltd 949-7129 949-2168
e Banco Bradesco S A 945-1200 945-1430
e Banco Do Brasil S A 949-5907 949-8872
e Banco do Estado do Rio Grande do Sul S A Banrisul 949-6604 949-4834
e Banif-Banco International Do Funchal 945-8060 945-8069
e Bank Austria Cayman Islands Ltd 949-3800 949-2030
e Bank Danamon Indonesia 946-0046 946-0047
Bank Espirito Santo International Ltd 949-3128 945-6911
Bank Niaga Grand Cayman Branch 945-2003 945-2004
Bank of America Trust & Banking Corp 949-7888 949-7883
Bank of Bermuda (Cayman) Ltd 949-9898 949-7959
Bank of China 945-2000 945-2200
Bank of Credit & Commerce International (in liquidation) 949-4722 949-8258
e Bank of New York Trust Company 949-7734 945-1295
Bank Vontobel Cayman 945-9200 945-9201
BCN International Bank Ltd 949-9647 949-9651
BCP Bank & Trust Co. Ltd. 949-8322 949-7743
Bessemer Trust Company (Cayman) Ltd 949-6674 945-2722
BHD Cayman International Bank 949-0243 949-2439
e Butterfield Bank (Cayman) Limited (Fort St.) 949-7055 949-7004
e Butterfield Bank (Cayman) Limited (Compass Centre) 815-7557 945-2698
e Butterfield Bank (Cayman) Limited (West Shore) 949-8565 949-8406
CIBC Bank & Trust Company (Cayman) Limited 949-8666 945-2311
e Caledonian Bank & Trust Ltd 949-0050 949-8062
Cayman Islands Development Bank 949-7511 949-6168
e Cayman National Bank Ltd (Main Office) 949-4655 949-7506
e Cayman National Bank Ltd (West Wind) 949-6344 949-4215
e Cayman National Bank Ltd (Buckingham Square) 949-7137 949-5755
e Cayman National Bank Ltd (Centennial Tower) 946-3334 946-3453
Citco Bank & Trust Co Ltd 949-3977 945-3888
e Close Bank Cayman Limited 949-8455 946-9717
Coutts (Cayman) Ltd 945-4777 945-4799
Delta Bank & Trust Co 949-0437 949-9327
Deutsche Bank (Cayman) Ltd 949-8244 949-8178
e Dextra-Bank & Trust Co Ltd 949-7844 949-2795
Dresdner Bank Lateinamerika AG 949-8888 949-8899
Dundee Bank (Dundee Leeds) 946-8688 946-8691
e Fidelity Bank(Cayman) Ltd. 949-7822 949-4079
FirstCaribbean International Bank 949-7300 949-7179
First Cayman Bank (In Liquidation) 949-5266
Fortis Bank (Cayman) Ltd 949-7942 949-8340
Gerfiner Bank 946-2078 946-2079
Givens Hall Bank & Trust Ltd 949-8141 949-8295
Gulf Union Bank Ltd 949-5398
e HSBC Financial Services (Cayman) Limited 949-7755 949-7634
IBJ Whitehall Bank & Trust Co 949-2849 949-5409
Julius Baer Bank & Trust Co Ltd 949-7212 949-0993
e LGT Bank ln Liechtenstein (Cayman) Ltd 949-7676 949-8512
Mercury Bank & Trust Ltd 949-0800 949-0295
Merrill Lynch Bank & Trust Co (Cayman) Ltd 949-8206 949-8895
Midland Bank Trust Corporation (Cayman) Ltd 949-7755 949-7634
Morval Bank & Trust Cayman Ltd 949-9808 949-9794
Multi Banking Corporation (Overseas) Ltd 949-5765 949-3338
e National Building Society of Cayman 945-2014 945-2015
e NCB (Cayman) Limited 949-8002 949-4006
PDG Bank (Cayman) Ltd 946-6101
Piguet Bank & Trust Ltd 946-1378 946-1379
PT Bank Mandiri (Persero) Tbk 945-8891 945-8892
PT Bank Niaga 945-2003 945-2004
e Queensgate Bank & Trust Co Ltd 945-2187 945-2197
Royal Bank of Canada (Shedden Rd) 949-4600 949-7396
Royal Bank of Canada (Queens Court) 949-6836 949-9733
Royal Bank of Canada Trust Co (Cayman) Ltd 949-9107. 949-5777
Schroder Cayman Bank & Trust Co Ltd 949-2849 949-5409
Scotiabank (Cayman Islands) Ltd 949-7666 949-0020
Scotiabank Ltd (Fosters Airport Br) 949-7666 949-0118
Scotiabank Ltd (The Strand) 945-7066 945-7060
Sul America International Bank (Cayman) Ltd 949-0855 949-0866
Trade Link Bank 949-6675 945-5702
e Transocean Bank & Trust Ltd 949-7493 949-7524
Unicorp Bank & Trust Co Ltd 949-6800 949-6801
United Mizrahi Bank 949-9639 949-9639
e Venecredit Bank 7 Trust Ltd 949-6917 949-8017
Wachovia Bank & Trust Company (Cayman) Ltd. 949-0873 945-1295
Wing Hang Bank (Cayman) Ltd 949-6509
Cayman Brac & Little Cayman
Cayman National Bank Ltd (Tibbetts Sq, Cayman Brac 948-1551 948-1261
Cayman National Bank Ltd (Blossom Village, Little Cayman) 948-0051 948-0049
Preview from Europe: The Bears Are Back [View article]
•Barclays (BCS) is on the slide this morning on a Guardian story that it may have made £1bn through tax avoidance. Not good PR.
Lots of Banks in Caymans Islands...LOL
207.57.79.93/banks.html
just to name a few "600" present...
CAYMAN OFFSHORE SERVICES
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BANKS
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Alexandria Bancorp Limited
P.O. Box 2428, Grand Cayman, Cayman Islands, B.W.I.
Phone: (345) 945-1111, Fax: (809) 945-1122.
Email: Bancorp@CandW.KY
Contact: Frank Flanagan - Managing Director, David Dobson - Trust and Corporate Services
Wholly owned by Guardian Capital Group Limited, Toronto, Canada and our services include: Private banking (min. deposit US$100,000), trust and company formation and administration, mutual fund administration, investment management, Alexandria mutual funds money market and equity funds - min deposit US50,000 Subsidiary companies in BVI and Barbados
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Ansbacher (Cayman) Limited
P.O. Box 887, George Town, Grand Cayman, Cayman Islands, B.W.I. 20 Jennett Close Tel: 345-949-8655 Fax: 345-949-7946 Telex: CP 4305
Contact: Bryan Bothwell - Managing Director, Gary Linford - Executive Director, Gary Crossan - Manager Trust Dept., Indy Singh - Head of Corporate Services Dept., Nestor Castillo -Head of Banking.
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Banco Bilbao Vizcaya
P.O. Box 1115, George Town, Grand Cayman, Cayman Islands, B.W.I. Eliaabethan Square Ttl: 809-949-779() Fax: 809-949-9086 Contact: Enrique Arranz--Ceneral Manager; Elias Beniflah--Deputy General Manager Services: BBV, a major provider of banking and other financial services in Spain, also has an extensive international presence. Private banking clients in Grand Cayman thus have access to the full range of services available through our group network.
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Banco Bradesco, S.A.
P.0. Box 30327 SMB, Grand Cayman, Cayman Islands, B.W.1. Caledonian House, 3rd Floor, Mary Street Tel: 809-945-1200 Fax: 809-945-1430 Telex: 4264 BIIADESCO CP Contact: Joao Albino Winkelmann-Manager Services: Promoting and providing support to international trade related financing, in line with the strategy of the Bradesco's head office in Brazil.
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Banco do Estado de Sao Paulo,
S.A. P.O. Box 1811, George Town, Grand Cayman, Cayman Islands, B.W.I. The Clarion Grand Pavilion Hotel, 2nd Floor, West Bay Road Tel: 809-947-5144 Fax: 809-947-5153 Tclex: 4296 BANESGC CP Swift: BESPUS33ACAY Contact: Dorival Soares de Mello-General Manager; Odiwaldo T. Sancinetti--Manager Services: Incorporated in Brazil with limited liability.
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Banco do Estado do Rio Grande do Sul, S.A.
-Banrisul P.O. Box 31499 SMB, Grand Cayman, Cayman Islands, B.W.I. British American Centre, First Home Tower Tel: 809-949-6604 Fax: 809-949-4834 Contact: Alexandre Pedro ronzi--General Manager Services: International trade-related transactions, private banking, asset management.
Banco Economico, S.A.
P.O. Box 1112, George Town, Grand Cayman, Cayman Islands, B.W.I. British American Centre, Building 3, 2nd Floor, Dr. Roy's Drive Tel: 809-945-1027 Fax: 809-949-6455 Telex: 4223 BESA CP Contact: Andre Neeser--Manager Services: Deposit accounts, private banking, investment management and advisory services; trade financing and letters of credit.
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Banco Portugues Do Atlantico
P.O. Box 30124 SMB, Grand Cayman, Cayman Islands, B.W.I. Scotia Building, 4th Floor, Cardinal Avenue Tel: 809-949-8322 Fax: 809-949-7743 Telex: 4283 ILEK Contact: Alvaro Cortes--Managing Director; Valdemar B. Lopes--Deputy General Manager Services: Banco Portugues Do Atlantico, Portugal's largest commercial and international bank, offers a comprehensive range of corporate and customer-tailored private banking services to its international customer base. We also offer agency representation to international banks as well as company incorporation and registered office services to individual and corporate clients.
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Banco Real S.A
Grand Cayman Branch P.O. Box 473, George Town, Grand Cayman, Cayman Islands, B.W.I. Genesis Building, 3rd Floor, ~ennett Street Tel: 809-949-8633 Fax: 809-949-8742 Contact: Luis Flavio Nogueira Da Silva-General Manager; Wilson Coelho Do Vale-- Assistant Manager Services: Branch of a Brazilian bank, headquartered in Sao Paulo, Brazil. The branch was established in 1974, under category "B" license. Its operations consist primarily of promoting and providing support for international trade financing and investments for its corporate clients.
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Bank Bali
Cayman Islands Branch P.O. Box 31241 SMB, Grand Cayman, Cayman Islands, B.W.I. Micro Commerce Centre #203A, North Sound Road Tel: 809-945-2921 Fax: 809-949-6532 Contact: Hadi Lesmon~--Vice President; Ary Satrio--Assistant Manager Services: Commercial and syndication loans, corporate finance, treasury services, trade finance, investment funds management, guarantees.
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Bank of Bermuda (Cayman) Limited
P.O. Box 513, George Town, Grand Cayman, Cayman Islands, B.W.I. British American Tower, 3rd Floor, Dr. Roy's Drive Tel: 809-949-9898 Fax: 809-949-7959 Contact: Stanley G. Wright--Manager, Corporate Banking Services: Corporate banking services include: Bankline-pre-eminent among the bank's cash management services. Allows the client on-line access via their PC to the bank's computers. Global check is our exclusive interest bearing checking account, denominated in U.S. dollars or British pounds sterling, providing access to offshorefunds.
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Bank of Butterfield International (Cayman) Ltd.
P.O. Box 705, George Town, Grand Cayman, Cayman Islands, B.W.T. Butterfield House, Fort Street Tel: 809-949-7055 Fax: 809-949-7004 Telex: 4263 BFIELD CP Contact: Nicholas I. Duggan, FCIB-Managing Director; Coner O'Dea, ACADirector &Financial Controller; H. Camille Wight--Manager, Retail Banking Division Services: As one of the six clearing banks in the Cayman Islands, we offer a comprehensive range of personal and confidential services including: trust, corporate and private banking as well as investment management to our clients.
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The Bank of Nova Scotia
P.O. Box 689, George Town, Grand Cayman, Cayman Islands, B.W.I. Cardinal Avenue and Airport Lndustrial Park Tel: 809-949-7666 Fax: 809-949-0020 Contact: Colin McKie-Vice-President &Manager; Bruce F. Bowen~ommercial Banking Manager; Doyle R. Scott-Retail Banking Manager Services: Complete range of local and international personal, commercial and corporate banking services to selected clients. Serving Cayman for over 25 years Scotiabank is one North America's largest financial institutions operating in 44 countries through 1,400 branches and offices worldwide.
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BankAmerica Trust &Banking Corporation (Cayman) Limited
P.O. Box 1092, George Town, Grand Cayman, Cayman Islands, B.W.I. Fort Street Tel: 809-949-7888 Fax: 809-949-7883 Telex: CP 4234 BATCAYL Contact: Daniel Haase--Managing Director; Charles Farrington--Deputy Managing Director; Michael Carney--Deputy Managing Director. Services: Deposits, payments, Forex, S.B.L.C.'s. loans, personal trust services for tax and estate planning, corporate services for personal investment holding companies, mutual funds administration, captive insurance, investment management, safe custody.
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Barclays Bank PLC
P.O. Box 68, George Town, Grand Cayman, Cayman Islands, B.W.I. Cardinal Avenue Tel: 809-949-7300 Fax: 809-949-7179 Telex: CP 4219 Contact: Rolf Phillips--Manager Offshore Services; Farida Bedden--Senior Account Executive Services: As a full branch of the major British bank, Barclays provides a wide range of banking services to both the domestic and offshore11 sectors, including a multi-currency deposit service, securities trading, property finance and project finance.
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Barclays Private Bank &Trust (Cayman) Limited
P.O. Box 487, George Town, Grand Cayman, Cayman Islands, B.W.I. Harbour Centre, 4th Floor, Mary Street Tel: 809-949-7128 Fax: 809-949-7657 Contact: Clive W. Black--Managing Director; Alan Symington--Deputy Managing Director; Kevin Brown--Trust Manager Services: Dedicated to the management of substantial personal assets. Private banking, investment management, trusts, company management, registered offices and bank agencies. Part of the Barclays PLC Group.
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Caledonian Bank &Trust Limited
P.O. Box 1043, George Town, Grand Cayman, Cayman Islands, B.W.I. Caledonian House, Ground Floor, Mary Street Tel: 809-949-0050 Fax: 809-949-8062 Contact: David S. Sargison--Managing Director Services: Category "A" licensed bank and trust company, licensed mutual fund administrator and insurance manager. Provision of corporate, trust and mutual fund administration services, registered office and accounting services.
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CIBC Bank and Trust Company (Cayman) Limited
P.O. Box 695, George Town, Grand Cayman, Cayman Islands, B.W.I. Edward Street Tel: 809-949-8666 Fax: 809-949-7904 Telex: 4222 CP Contact: Peter H. Larder--Managing Director; Tom Crawford-Deputy Managing Director, Banking Division; Ben Gillooly--Deputy Managing Director, Trust Division Services: Management and representation of offshore11 banks; fiduciary services for managed banks; full retail banking including term deposits, letters of credit, foreib~ exchange, checking and savings accounts. Inter-nation trade and project finance.
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Coutts &Co (Cayman) Ltd.
P.O. Box 707, George Town, Grand Cayman, Cayman Islands, B.W.I. West Bay Road Tel: 809-947-4777 Fax: 809-947-4799 Contact: Chris Fish--Managing Director, Gerry Williams--Deputy Managing Director; Andrew Galloway--New Business Director Services: Investment management, offshore11 trust structures, company formation and management, banking, mutual funds and managed banks.
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Delta Bank and Trust Company
Grand Cayman P.O. Box 706, George Town, Grand Cayman, Cayman Islands, B.W.I. Genesis Building, 2nd Floor, Jennett Street Tel: 809-949-0437 Fax: 809-949-9327 Contacts: 1. Henrique D. Campos--General Manager; Ademar M. Ferreira--Manager; Leonardo M.S. Couto--Junior Trader Services: A full range of international private banking services ranging from money market accounts to sophisticated investment portfolio management.
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Deutsch-Sudamerikanische Bank AG,
Grand Cayman Branch P.O. Box 714, George Town, Grand Cayman, Cayman Islands, I3.W.I. Anderson Square Building Tel: 809-949-8888 Fax: 809-949-8899 Contact: Guenter Backer--Manager; David R. Ferry--Trust Manager Services: Trust services; company formation and registration; investment management services.
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Dextra Bank &Trust Co. Ltd.
P.O. Box 2004, George Town, Grand Cayman, Cayman Islands, B.W.I. Tel: 809-Y49-7844 Fax: 809-949-2795 Contact: Peter Blackman-Managing Director Services: Private and investment banking, trustee services, company formation and administration, estate planning and administration, ship registration. Discount Bank &Trust Company (Incorporated In Switzerland)
P.O. Box 1047, George Town, Grand Cayman, Cayman Islands, B.W.I. Bank of Nova Scotia Building, Albert Panton Avenue Tel: 809-949-5733 Fax: 809-949-7615 Contact: Israel Behar-Manager Services: Private and offshore11 banking.
First Cayman Bank Ltd.
(This bank is in liquidation - for further information contact the liquidators.
IBT Schroder Bank &Trust Company
P.O. Box 1040, George Town, Grand Cayman, Cayman Islands, B.W.I. West Wind Building, 3rd Floor Tel: 809-949-2849, 809-949-5566 Fax: 809-949-5409 Telex:0293-4274 Contact: Rory Heary--General Manager; Virginia Suekoo--Corporate Officer Services: A subsidiary of the Industrial Bank of Japan based in New York City. Also affiliated with the Schroder Group. Offering bank representation in Cayman, Lnterbank deposits, U.S. dollar clearing and cash management services.
ITAU Bank Ltd.
P.O. Box 1379, George Town, Grand Cayman, Cayman Islands, B.W.I. Ansbacher House, 3rd Floor, Jennett Square Tel: 809-947-4175 Fax: 809-947-4185 Telex: 4284 Contact: Antonio Carlos Genoveze-General Manager; Luisa Vaquinhas-Assistant Manager; Gustavo Alegria-Assistant Manager Services: ITAU Bank Ltd. was incorporated in the Cayman Islands on 24 July 1992, providing offshore11 commercial banking ser vices under class "B" unrestricted banking and trust license. A wholly owned subsidiary (Banco ITAU S.A.) is established in Brazil.
Lloyds Bank International (Cayman) Ltd.
P.O. Box 857, George Town, Grand Cayman, Cayman Islands, B.W.I. CIBC Building, 3rd Floor Tel: 809-949-7854 Fax: 809-949-0090 Services: Providing a full range of international private banking and trust services, company incorporation and portfolio management.
Mercury Bank and Trust Ltd.
P.O. Box 2424, George Town, Grand Cayman, Cayman Islands, B.W.1. Caledonian House, 3rd Floor, Mary Street Tel: 809-949-0800 Fax: 809-949-0295 Telex: 4331 MERCURY CP Contact: Volker Mergenthaler-Resident Manager Services: Company formation and registration, trusts, mutual funds administration and banking services.
Morgan Grenfell (Cayman) Limited
P.O. Box 1984, George Town, Grand Cayman, Cayman Islands, B.W.I. Elizabethan Square Tel: 809-949-8244 Fax: 809-949-8178 Contact: Nigel C. Bradley--Executive Director; Darren P. Riley--Secretary; Andrew R. Collins--Manager Services: Morgan Grenfell (Cayman) Limited is part of the Morgan Grenfell Offshore Group and wholly owned subsidiary of the Deutsche Bank Group and provides offshore11 administrative services to mutual funds, asset backed securitizations and banking services to inter-nation corporate clientele.
Mutual Security Bank (Cayman) Ltd.
P.O. Box 31120 SMB, Grand Cayman, Cayman Islands, B.W.I. Caledonian House, 3rd Floor, Mary Street Tel: 809-949-8002 Fax: 809-949-4006 Telex: 4278 MSB Contact: Andre Iton; Anthony Powell; Karen Parchman Services: Provides a wide range of private banking services to the international private and corporate client, including formation and management of companies. Small accounts are welcome.
PT. Bank Negara Indonesia (Persero)
P.O. Box 30708 SMB, Grand Cayman, Cayman Islands, B.W.I. First Home Tower, 2nd Floor Tel: 809-947-5573 Fax: 809-949-4166 Telex: 4291 BNICMN CP Contact: Thomas S. Pamell--General Manager; Martono Soeprapto-Manager Funds &Treasury; Tote Suharto-Loan Administration Officer Services: Specialises in loans to Indonesian companies and other Indonesian related business. Active in foreign exchange and money market activities for clients and own account.
Queensgate Bank and Trust Company Ltd.
P.O. Box 30462 SMB, Grand Cayman, Cayman Islands, B.W.I. Ugland House, South Church Street Tel: 809-945-2187 Fax: 809-945-2197 Telex: 4279 QBTC CP Contact: J.D. Hunter--Managing Director; M. Couch--Manager, Capital Markets; F.O. Flanagan-Vice-Chairman Services: Full range of financial services, professionally managed and in strictest confidence.
Royal Bank Of Canada
P.O. Box 245, George Town, Grand Cayman, Cayman Islands, B.W.I. Cardinal Avenue Tel: 809-949-4600 Fax: 809-949-7396 Telex: CP 4244 Contact: H.C. Chisholm--Manager; G.M. Dombowsky--Senior Assistant Manager; C.M. Chan-A-Sue-Assistant Manager, Customer Service &Operations Services: We cover all aspects of personal and commercial banking, trust and investment services, etc. As Canada's largest bank, we offer you international services through a worldwide network of branches and correspondents.
Schroder Cayman Bank and Trust Co. Ltd.
P.O. Box 1040, George Town, Grand Cayman, Cayman Islands, B.W.I. West Wind Building, 3rd Floor Tel: 809-949-2849, 809-949-5566 Fax: 809-949-5409 Telex: 0293-4274 Contact: Rory Heary--General Manager; Jeffrey Hodkin--Assistant General Manager; Greg Link--Assistant Manager Services: A member of the international merchant banking network of the London based Schroder Group. Full range of banking and trust services including: investment management, unit trusts, mutual fund administration, company formation and management, accounting and bank representation.
Sul America International Bank (Cayman) Ltd.
P.O. Box 30869 SMB, Grand Cayman, Cayman Islands, B.W.I. Genesis Building, 3rd Floor Return to Cayman Islands Home Page
Jim Cramer's Stop Trading! 2/7/08: Prudential's Prudence [View article]
Manulife Financial and Royal Bank buyback shares – Insiders
Posted: February 08, 2008, 10:00 AM by Jonathan Ratner
Market Call, SEDI
Astral Media, Manulife Financial, Royal Bank, Stantec and TransCanada are included in this report.
Insider transactions filed on Feb. 7, 2008
Source: SEDI
Astral Media Inc. bought back 286,100 shares between Jan. 16 and Jan. 31, 2008, bringing its holdings to 5,451,039 shares.
Manulife Financial Corp. bought back and cancelled 2,896,300 shares between Jan. 4 and Jan. 31, 2008.
Royal Bank of Canada bought back and cancelled 11,020,000 shares between Jan. 3 and Jan. 16, 2008.
www.rbc.ca
Jim Cramer's Mad Money Lightning Round, 1/9/08: Mary Just Might Make It After All [View article]
This is from the CFO Kevin Twomey:
Ed Kelly - Credit Suisse
In terms of the Eckerd synergies, were the synergies you achieved this quarter in line with what you had expected?
Kevin Twomey
Very much so, Ed.
Ed Kelly - Credit Suisse
Can you give us a sense as to how much of that $200 million has been achieved so far, year-to-date?
Kevin Twomey
As we talked before, because of some of the ramp up, the fourth quarter is not evenly spreads off the three quarters, but we are very, very close to two-thirds of it.
OK 2/3 of $200M=$133M saving in Bank...Copy that ??
Next...
Ed Kelly - Credit Suisse
Kevin, could you just go over the liquidity situation? Whens your next big maturity? Whats under the revolver? What are you expecting in free cash for this year? Do you still expect it to be positive next year?
Kevin Twomey
The required maturities over the next three years are less than $175 million and the largest component of that is the $150 million note thats due December 15, 2008. Basically as we are going through the integration and ramping up the synergies, fiscal 2008 is going to be what everybody refers to as a negative free cash flow. In other words, operating cash flows will be less than the capital expenditures.
But in fiscal 2009, we still expect operating cash flows to exceed CapEx and in fact have us paydown the revolver. So from a, if you will, strategic perspective, from a commitment in terms of keeping things balanced, nothing haschanged. We are, if you will, very, very flexible; we have a lot of flexibility with regards to revolver and there are no restrictions on it.
So we think we are in very good shape, and as I mentioned, we areat our holiday season third quarter inventory build along with the planogram, retrofitting the Brooks/Eckerds, along with the moving out of the non go-forward inventory and restocking adding an additional burden in building inventory. So, we are kind of where we need to be, but that doesnt mean we dont have opportunities. I think that I would be remiss in my duties as a CFO by saying that we arent always looking for ways to improve the investment of our working capital inthe business.
And last....
John Heinbockel - Goldman Sachs
Finally, you sound pretty comfortable with the revolver availability. At this point you dont seethe need to go out and raise permanent capital to be able execute the CapEx program over the longer term? You are happy with the availability on the revolver?
Kevin Twomey
Very much so, John. I mean, we basically established our revolver and with the mix of revolver and term loan and senior notes with the idea in mind that we needed to have a lot of flexibility and a lot of liquidity to support our business plans over the next several years.
I know its inthe back of everybodys mind because the markets areso goofy right now, but we dont have to access the capital market to execute and support our business plan.
Jim Cramer's Mad Money Lightning Round, 1/9/08: Mary Just Might Make It After All [View article]
The Capital Research analyst, stated that the title of Jean Coutu Group may rise sharply if Rite Aid (NYSE: RAD), American Chain Drug Stores, owned 31.7% by Jean Coutu Group, was acquired.
As I mentioned Jean Coutu Group holds 31.7% of Rite Aid or approximately 252 million shares, which closed yesterday at Cap $ 2.2 Americas. The real value of the investment is approximately 560 million Americans.
What nobody said it and the problem is the following is that the same shares of Rite Aid worth $ 6.38 to June 29, 2007.
In other words, in six months, the placement du Groupe Jean Coutu melted like snow in the sun. The course is worth 3.5 billion American (3731 billion Canadian), the investment has grown to 560 million US-dollar (565.54 million).
What was the actions of the Jean Coutu Group 6 months ago? At the same time placing Rite Aid worth 3,731 billion Canadian, or at June 29, 2007, shares of Jean Coutu Group worth $ 15.50.
So in closing price yesterday, while the placement du Groupe Jean Coutu in Rite Aid founded nearly 85% (in Canadian currency), the shares of Jean Coutu Group lost almost 28%.
Some analysts believe the US drugstore chain Rite Aid could be acquired by a competitor. Assuming that possibility and the purchaser would pay approximately $ 3.50 reflecting a fairly reasonable premium of nearly 45% over the closing price yesterday of $ 2.22.
If this situation took place, the Jean Coutu Group therefore receive 789 million Americans for all its shares of Rite Aid.