I figured after Karn Evil 9, y’all needed a break.
I do love the Coconut Telegraph.Â More meetings.Â No looka good.Â Big fish eats little fish? Waiting for a smoke signal from Folsom.Â Note to Ivy.Â RUN!
LFG 3 Year Chart (Ted’s Excellent Alpine Ski Jump Adventure)
Under heavy trading yesterday LandAm dropped 8.34% in ONE DAY.Â Ouch mon.Â That’s what happens when your investor call (10am yesterday EST) includes such jewels as a $45.9 MILLION dollar Q4 loss.Â That’s what happens when your claims are up to 9% of your premium dollar for the year. Â Good news they got rid of a bunch of those cumbersome FTE’s.
The Big Mo
Someone out there knows what they did to recoverÂ a little here.Â I guess it helps when you only lose $40.2 million dollars.Â Their stock was essentially flat yesterday, I think Wall Street already adjusted for this.
$44.9 million dollars is a lot of freaking burgers Bill.Â It takes some brass ones to announce a .30 cent per share dividend when you bleed money like that.Â I suppose getting rid of all those nasty expensive FTE’s helped a lot.Â Nice job Billy, now lets talk about your handicap.
Parker’s Posey moment
February 28 8a.m. PST is FAF’s call. Â If you haven’t submitted your guess for how much they lost, you have until 8am Thursday morning.Â Of course, so does Parker.
The Wine Dog is drinking….
Highgate 1999 Winemaker’s Reserve Cabernet Sauvignon.Â Out of Graton, California.Â A friend sentÂ me a mixed case of wine a few years ago.Â Essentially, the deal went like this:Â I was expanding into San Francisco County.Â I knew we needed the E&R cards that Egon Hall had created over his career.Â I called an old friend who happened to have a copy.Â This copy came from the ORIGINAL Commonwealth Title Company of San Francisco.Â They failed in 1984 or 85.Â My friend was sitting in the empty building with the commissioner’s deputy who said “I don’t know what we’re going to do with this crap (meaning the title plant itself) Take what you want”.Â She took the E&R cards, knowing that they were the key to San Francisco.Â In 2002, I was opening a new San Francisco Title operation.Â I called her and she says “you know I’ve got the old E&R cards in my basement”.Â I paid her handsomely for them (wasn’t my money and really it was cheap for an entire county).Â She sent back a case of wine.Â In it were two bottles of Highgate.Â I’d never heard of them and still can’t find much about them.Â Anyway, it’s aged quite nicely.Â Deep berries, plums, a touch of sweetness you don’t usually see in a cab, but it’s nice.Â Very well structured, beautiful mouth feel and a much better bottle than I thought I was opening last night.
Oh yeah, and it’s raining.