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Eastwood

Certifiably Surly
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Everything posted by Eastwood

  1. I remember you being a CHK stock lifer. You were groaning over it back when it was $7 before the split.
  2. Put options for CHK are insanely expensive across the board, right now. A $13 June 5 put is going for $4.90 a share. Wild.
  3. I think this is right. If this situation satisfies FM, it could open up a Pandora's Box of economical FM reasons. Texas courts are notoriously pro-lessee, but this is probably a bridge too far. Other companies going out and drilling holes into the ground makes the argument even weaker. "Go and do likewise."
  4. My new bank told me on Tuesday that I was "on the list," so I hope that's the list he was talking about.
  5. Force majeure litigation for literally years. Just in time for me to take the bar.
  6. Oxy, DVN, and APA still going up. Even CHK. Why? Their balance sheets are trash and their main source of revenue is obliterated for the foreseeable future.
  7. It is... If it worked. As of this morning, I am "Payment Status Not Available." It only updates overnight, so I have to wait until tomorrow morning to check again.
  8. Not only down the list, but the closer you are to the stimulus cutoff, the later you will get your check. Those who made 10k or less are having their check mailed this week. Then every week is the next 10k bracket. For example, individuals who are just under the cap at $70k have to wait until mid June before their check is mailed out.
  9. Yup. I filed April 6. Self employed, so I didn't get a refund and they don't have my direct deposit info on file. I'm deeply concerned that I'm going to have to wait until all the checks go out and I don't get one before the IRS will even begin to look into my stimulus status. Qualify under the married filing jointly category.
  10. It is starting to trickle out that banks put their biggest clients and those that they had personal relationships with to the front of the line.
  11. And we still have the API report this afternoon and the EIA tomorrow morning.
  12. I hate to break this to you, but it is nowhere near the same. Food quality is way down and the service is worse. I've hopped from location to location over the last 2 years hoping it's just restricted to them, but it's company wide.
  13. The Shake Shack CEO stated that they used it to keep as many people on payroll as possible, but when they saw how quickly it drained, decided to give it back because they had access to other capital that small businesses don't. And that is the crux of the issue. Publicly traded companies have several avenues for capital, debt restructuring, sizeable assets to borrow against, etc. Small businesses do not. Taco Cabana's parent company has a market cap of $189 million. They have ways to fund their payroll that do not involve taking from the mouths of small businesses.
  14. I haven't read the legislation at length, but even if the language in the bill itself didn't explicitly prevent large companies from participating, a dash of common sense and modicum of restraint should have told those companies it wasn't for them. All parties involved knew exactly what they were doing and they deserve to be brought down over it. That level of greed during a time like this is exceptionally dangerous because it will only escalate as this goes on.
  15. There's nowhere to talk about this without it going completely sideways into Politic Town, so I'll talk about it here. There really needs to be a full investigation into publicly traded companies draining the SBA Paycheck Protection Program. The companies and the banks that enabled them. Publicly traded companies worth hundreds of millions taking out Small Business Association loans. Multi-million dollar publicly traded companies taking from the trough filled by the government for small businesses. If that isn't a "let them eat cake" type moment, I would hate to see what is. Oh, and here is a link to a list of publicly traded companies that did this. https://www.cnbc.com/2020/04/21/large-public-companies-are-taking-small-businesses-payroll-loans.html Ruth's Chris isn't on there, but they were the first ones outed. Also on there is Pot Belly, J. Alexander, and Fiesta Restaurant Group which has Taco Cabana under their umbrella. None of them will get my business ever again. Shake Shack also did it, but is giving it back. Maybe it was because they were caught stealing, maybe not. Who knows.
  16. Not to mingle the market, stonks, and baron thread too much, but OKE calls at the 47.5 strike are going for 1.70 a share, right now. Tempting.
  17. There's a lot of East Texas and South Texas land about to be unleased. A lot of the leasing in that area occurred between 2015 and 2017. The 2015 leases will be out of their option period and the 2017 leases will either allowed to be expired or companies will have to eat the option bonus when cash is tight.
  18. Just be careful who you choose. Finally heard back from my bank (local credit union) today and they fully confessed to not having the resources to deal with the surge and fully copped to leaving me in the dark. I told them that I appreciate the honesty, but the genie is already out of the bottle. I found another small bank that had me on the phone and applying with 10 minutes of calling them and I didn't have a single cent in their bank. Not all small banks are created equal.
  19. Natty almost touched $2 today, though
  20. If demand can't get it together, I think it's possible this happens again next month
  21. Yet, Diamondback, Devon, Baker Hughes, and SLB are up on the day.
  22. Some news has been trickling out about a future junker program coming out to help the auto manufacturers. How old is the vehicle you're replacing?
  23. The energy stocks jumping like they are today is the most backwards thing I have seen in the market. Devon Energy jumped almost 12% today, for example. Insanity.
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