investorgold2002's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/88754/comments http://seekingalpha.com/article/39514-china-yuchai-international-a-shareholder-speaks-up?source=feed#comment-90649 90649 Sun, 08 Jul 2007 17:51:08 -0400 http://seekingalpha.com/article/39514-china-yuchai-international-a-shareholder-speaks-up?source=feed#comment-90494 90494 Thu, 05 Jul 2007 20:33:59 -0400 http://seekingalpha.com/article/39514-china-yuchai-international-a-shareholder-speaks-up?source=feed#comment-90386 90386 Thu, 05 Jul 2007 00:27:09 -0400 http://seekingalpha.com/article/39411-corus-bankshares-brush-engineered-materials-two-winners-among-losers?source=feed#comment-89860 89860 Wed, 27 Jun 2007 23:05:40 -0400 http://seekingalpha.com/article/39411-corus-bankshares-brush-engineered-materials-two-winners-among-losers?source=feed#comment-89859 89859 Wed, 27 Jun 2007 23:05:21 -0400 http://seekingalpha.com/article/39411-corus-bankshares-brush-engineered-materials-two-winners-among-losers?source=feed#comment-89858 89858 that's why i said to publish all facts in your story itself and possibly remove your subjective hyperboles]]> Wed, 27 Jun 2007 23:01:21 -0400 that's why i said to publish all facts in your story itself and possibly remove your subjective hyperboles]]> http://seekingalpha.com/article/39411-corus-bankshares-brush-engineered-materials-two-winners-among-losers?source=feed#comment-89841 89841 >>&g...

They are not doing anything criminally illegal. Check when corus specialized into giving loans for condos, This is only recently not 50 years. Also, check when they went public

If you think points and concerns are valid and you respect, please rebalance your published story. You may mislead a lot of retail investors that unfortunately invest by reading such articles. Hopefully we can educate the people what they are getting into before they put a cent in]]> Wed, 27 Jun 2007 18:22:01 -0400 >>&g...

They are not doing anything criminally illegal. Check when corus specialized into giving loans for condos, This is only recently not 50 years. Also, check when they went public

If you think points and concerns are valid and you respect, please rebalance your published story. You may mislead a lot of retail investors that unfortunately invest by reading such articles. Hopefully we can educate the people what they are getting into before they put a cent in]]> http://seekingalpha.com/article/39411-corus-bankshares-brush-engineered-materials-two-winners-among-losers?source=feed#comment-89735 89735
Corus’ methodology for calculating the Allowance for Loan Losses is designed to first provide for specific reserves associated with “impaired” loans, as defined by Generally Accepted Accounting Principles. These loans are segregated from the remainder of the portfolio and are subjected to a specific review in an effort to determine whether or not a reserve is necessary and, if so, the appropriate amount of that reserve.

The remainder of the portfolio is then segmented into groups based on loan characteristics, seniority of collateral, and loan rating. A reserve is calculated and allocated to each of these groups based on historical net charge-off history coupled with a subjective Management Adjustment Factor. The Management Adjustment Factor is intended to incorporate those qualitative or environmental factors that are likely to cause estimated credit losses associated with the Bank’s existing portfolio to differ from historical loss experience.

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Glickman also sold some half million shares this year...so he already has some 8 million dollar bank balance just this year by selling stock.]]> Wed, 27 Jun 2007 08:40:17 -0400
Corus’ methodology for calculating the Allowance for Loan Losses is designed to first provide for specific reserves associated with “impaired” loans, as defined by Generally Accepted Accounting Principles. These loans are segregated from the remainder of the portfolio and are subjected to a specific review in an effort to determine whether or not a reserve is necessary and, if so, the appropriate amount of that reserve.

The remainder of the portfolio is then segmented into groups based on loan characteristics, seniority of collateral, and loan rating. A reserve is calculated and allocated to each of these groups based on historical net charge-off history coupled with a subjective Management Adjustment Factor. The Management Adjustment Factor is intended to incorporate those qualitative or environmental factors that are likely to cause estimated credit losses associated with the Bank’s existing portfolio to differ from historical loss experience.

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Glickman also sold some half million shares this year...so he already has some 8 million dollar bank balance just this year by selling stock.]]> http://seekingalpha.com/article/39411-corus-bankshares-brush-engineered-materials-two-winners-among-losers?source=feed#comment-89731 89731 >>&g...
what major charges are you talking ? The most that can happen in most corporate mis-governance is a class action law suit , that will eventually end with monetary settlement. Happens all the time.

>>&g...
The developers, in the first place, have to justify obtaining the financing, regardless of what source and regardless if it is secured or not. Banks simply do not just hand out dollars to these developers. Additionally, at some point, even if it is a few years, things will turn around and the projects will be complete and units will sell. The developer could bail out now, but why? To lose all that has been put into the deal - which is sizeable from a personal standpoint for these developers - is not going to happen. Things might be tight for them, but they will wait around if they need to before defaulting. Therefore, I would surmise that CORS will come out with some battle scars, but will not collapse, despite the negativity facing this sector.

Again they made out secured loans on inflated collateral. So you give a loan of 100 million considering development is worth 100 million but then turns out project is worth Only 60 million. Who loses ?

Although writing off a loan will take time(years), the number of non performing loans will increase significantly this year and next year. This will increase their loan loss reserve...this year and next year

It is not hard to see what will happen to their regulatory capital ratios if their loan loss allowance goes from current 50 million or so to 300-400 million . And remember it can get to that 300-400 million
Loan loss provision is based on subjective judgements by management based on historical charge offs, etc.. So current calculation, is very skewed . They have never in their history taken such huge risk by giving out so many high value loans in HIGHLY inflated condo market. Factor that, loan loss provision seems rather oddly small number


>>&g...
Yes, there is great risk, but that is why CORS is currently yielding about 6% (excluding the special one-time dividend). If eating loans to the point of going under was a real possibility, I doubt CORS would continue their dividend payments to shareholders. For them, making a bad decision knowing what will happen in the end if it is bad is an almost definitive path to having to forfeit their monies received from the strategy and watching their many-multi-million dollar stake deteriorate.

Insider owning some 40% is good. But I do not work in securities industry. I have heard from many people the amount of manipulation that happens in securities industry. The heavy shorting, the announcement of $1 per share special dividend doesnt give me the confidence to invest or short this stock.
This special dividend is by no means a prudent measure when the entire housing market is down and going to be down in foreseable future and esp since they have seen experienced first time in their history an increase of their problem loans . So i dont know what the intent of management is ...ward off shorts?
i dont know. As i said, some stocks are manipulated by hedge funds and others in ways ordinary investors cannot and will not know.
just staying from those is the best thing to do for retail
Again, banking on Glickmans stake is not good idea. Glickman would have made >1 million dollar a year for several years, may have already sold millions in stock]]> Wed, 27 Jun 2007 08:10:23 -0400 >>&g...
what major charges are you talking ? The most that can happen in most corporate mis-governance is a class action law suit , that will eventually end with monetary settlement. Happens all the time.

>>&g...
The developers, in the first place, have to justify obtaining the financing, regardless of what source and regardless if it is secured or not. Banks simply do not just hand out dollars to these developers. Additionally, at some point, even if it is a few years, things will turn around and the projects will be complete and units will sell. The developer could bail out now, but why? To lose all that has been put into the deal - which is sizeable from a personal standpoint for these developers - is not going to happen. Things might be tight for them, but they will wait around if they need to before defaulting. Therefore, I would surmise that CORS will come out with some battle scars, but will not collapse, despite the negativity facing this sector.

Again they made out secured loans on inflated collateral. So you give a loan of 100 million considering development is worth 100 million but then turns out project is worth Only 60 million. Who loses ?

Although writing off a loan will take time(years), the number of non performing loans will increase significantly this year and next year. This will increase their loan loss reserve...this year and next year

It is not hard to see what will happen to their regulatory capital ratios if their loan loss allowance goes from current 50 million or so to 300-400 million . And remember it can get to that 300-400 million
Loan loss provision is based on subjective judgements by management based on historical charge offs, etc.. So current calculation, is very skewed . They have never in their history taken such huge risk by giving out so many high value loans in HIGHLY inflated condo market. Factor that, loan loss provision seems rather oddly small number


>>&g...
Yes, there is great risk, but that is why CORS is currently yielding about 6% (excluding the special one-time dividend). If eating loans to the point of going under was a real possibility, I doubt CORS would continue their dividend payments to shareholders. For them, making a bad decision knowing what will happen in the end if it is bad is an almost definitive path to having to forfeit their monies received from the strategy and watching their many-multi-million dollar stake deteriorate.

Insider owning some 40% is good. But I do not work in securities industry. I have heard from many people the amount of manipulation that happens in securities industry. The heavy shorting, the announcement of $1 per share special dividend doesnt give me the confidence to invest or short this stock.
This special dividend is by no means a prudent measure when the entire housing market is down and going to be down in foreseable future and esp since they have seen experienced first time in their history an increase of their problem loans . So i dont know what the intent of management is ...ward off shorts?
i dont know. As i said, some stocks are manipulated by hedge funds and others in ways ordinary investors cannot and will not know.
just staying from those is the best thing to do for retail
Again, banking on Glickmans stake is not good idea. Glickman would have made >1 million dollar a year for several years, may have already sold millions in stock]]> http://seekingalpha.com/article/39411-corus-bankshares-brush-engineered-materials-two-winners-among-losers?source=feed#comment-89709 89709 your analysis is half baked .]]> Tue, 26 Jun 2007 21:53:29 -0400 your analysis is half baked .]]>