ISM/OSM yet again - Page 5

cute fuzzy bunny · 01-04-2008, 07:31 PM

Speaking of schmucks...

Sallie Mae shares tumble on disclosure - Yahoo! News

"We expect to see many participants exit the student-loan industry in response to the (new law) as well as current market conditions," the company said. As a result, it said, it expects to partly compensate for its reduced loan volumes "with increased market share taken from participants exiting the industry."

So they'll write fewer loans, but make up the volume by taking market share from other companies? WTF?

"In a stormy conference call with analysts, Sallie Mae chief executive Albert L. Lord brushed aside several questions and ended the session with an expletive."

Stupid, ineffective AND offensive! A triple play in effect!

JohnEyles · 01-06-2008, 06:20 PM

Quote:

Originally Posted by cute fuzzy bunny

Speaking of schmucks...

Sallie Mae shares tumble on disclosure - Yahoo! News

"We expect to see many participants exit the student-loan industry in response to the (new law) as well as current market conditions," the company said. As a result, it said, it expects to partly compensate for its reduced loan volumes "with increased market share taken from participants exiting the industry."

So they'll write fewer loans, but make up the volume by taking market share from other companies? WTF?

"In a stormy conference call with analysts, Sallie Mae chief executive Albert L. Lord brushed aside several questions and ended the session with an expletive."

Stupid, ineffective AND offensive! A triple play in effect!

Remind me, again, what this means, and why, for the ISM/OSM bonds ?

haha · 01-06-2008, 08:29 PM

Quote:

Originally Posted by JohnEyles

Remind me, again, what this means, and why, for the ISM/OSM bonds ?

schmuck

119 up, 50 down

it is a yidish word and it means prick
my boss yelled at me for something i didnt do.what a schmuck

Ha

youbet · 01-06-2008, 09:56 PM

The anticipation and excitement of wondering whether SLM will deposit an interest/divident payment to my account for my holding of ISM keeps my arteries clear....... The same kind of feeling I used to get from penny stocks, Vegas Night over at the parish and driving Chicago expressways.

Funny though, I bought it to be a boring, inflation indexed interest payer.......

cute fuzzy bunny · 01-06-2008, 11:11 PM

Quote:

Originally Posted by JohnEyles

Remind me, again, what this means, and why, for the ISM/OSM bonds ?

It means theres a good chance you wont get your principal back on this investment. The company is being run by morons, they screwed up a buyout - twice - that would have paid off handsomely, they're profit margins are about to get squeezed, and their big idea is to cut back on their loan volume.

I've heard "we lose money on every sale, but make it up in volume", but I think the latter part of that meant increased volume, not reduced. And i'm pretty sure it doesnt work that way either.

clifp · 01-07-2008, 02:09 AM

Quote:

Originally Posted by cute fuzzy bunny

It means theres a good chance you wont get your principal back on this investment. The company is being run by morons, they screwed up a buyout - twice - that would have paid off handsomely, they're profit margins are about to get squeezed, and their big idea is to cut back on their loan volume.

I've heard "we lose money on every sale, but make it up in volume", but I think the latter part of that meant increased volume, not reduced. And i'm pretty sure it doesnt work that way either.

As Warren said "invest in a company that an idiot can run because soon or later an idiot is going to run it"

Clearly SLM is now officially run by idiots and I if I was stockholder, I'd be livid.

The beauty of SLM business is part of their business is idiot proof. Loan money to students with Federal guarrantee, package these loans to investors. As long as the rate students pay is higher than amount investors demand viola a built in profit. Unfortunately the idiot proof portion of their business has gotten less profitable thanks to Congress. (Of all the wasteful stupid subsidies Congress decide to cut why pick on the one that effects me!!). Still roughly 80% of their business is idiot proof.

The good news is they still are depositing checks to my account and at rate of 6.7% on current value (5.7% on my cost) it beats most other investment especially with inflation heating up. Of course if I still held my TIPs bonds I'd be collecting an inflation adjusted 3.5% coupon until 2011, without any drama....

BTW does anybody know what the historical default rating for BBB companies and how much on average investors got back.

cute fuzzy bunny · 01-07-2008, 08:18 AM

You're presuming they stay at BBB.

But the default rate isnt that high at BBB.

Pretty amusing to watch this whole thing unfold. If I were going to lay out a blueprint for how to %$# up a company and make its investors want to take their money elsewhere, this is almost exactly how I'd go about it.

If this Lord character moons the analysts at the next meeting, its definitely some sort of plan.

youbet · 01-07-2008, 12:05 PM

SLM Shares Jump on Management Changes: Financial News - Yahoo! Finance

SLM up 13%. New management at the helm. Looks like happy days are here again!

haha · 01-07-2008, 12:18 PM

SLM up 13%. New management at the helm. Looks like happy days are here again!

[/quote]

At least the equity holders might want to go easy on the bubbly-

Sallie Mae also said Albert L. Lord, who held the chairmanship for three weeks, has been appointed vice chairman and will remain chief executive.

Ha

youbet · 01-07-2008, 02:11 PM

Quote:

Originally Posted by haha

SLM up 13%. New management at the helm. Looks like happy days are here again!

At least the equity holders might want to go easy on the bubbly-

Sallie Mae also said Albert L. Lord, who held the chairmanship for three weeks, has been appointed vice chairman and will remain chief executive.

Ha[/quote]

Yes, but the new chairman has accepted the assignment of making Lord keep his pants covering his butt during analyst calls!

brewer12345 · 01-07-2008, 02:18 PM

Quote:

Originally Posted by youbet

Yes, but the new chairman has accepted the assignment of making Lord keep his pants covering his butt during analyst calls!

Well, if he does disrobe, maybe the analysts can play "flesh" with him, as described in the epic story of my avatar: the analysts get to take turns smacking his @ss and if he can guess which one of them it is, they have to take his place. Seems fitting, really.

Darryl · 01-15-2008, 06:17 PM

Ha, as promised I am announcing todays sale of half my purchase at $19.79 for a loss of 11 cents a share, of course I fully expect a handsome profit when I sell the other half

haha · 01-15-2008, 08:59 PM

Quote:

Originally Posted by Darryl

Ha, as promised I am announcing todays sale of half my purchase at $19.79 for a loss of 11 cents a share, of course I fully expect a handsome profit when I sell the other half

Best of luck Darryl. Weirder things have happened.

Ha

youbet · 01-22-2008, 08:08 PM

I had some unexpected ISM activity in my account today. Normally I get an interest credit on the 15th and that happened normally this month. Unexpectedly today I also received a "credit interest" and a slightly larger negative posting.

Anyone have any clues as to what is going on?

clifp · 01-22-2008, 09:14 PM

I talked to Schwab. It seems that Sallie Mae in addition to all of their other crimes against share and bond holder is also an Indian Giver.

The promised us $.09xxx interest payment in Dec 15, and today they realized they screwed up and are only going to pay us $.08xxx/share for Dec. I am too lazy to go double check the CPI numbers to see if they screwed up. The good news is it may lower your taxes/ My ISM is in my IRA so I had to sell sell Money market shares to have positive cash balance argh.

youbet · 01-22-2008, 09:34 PM

Ahhhhh........ OK I see it now........

Today's negative number is the same as the Dec credit interest. So, they debited Dec's interest and then credited me the smaller, get it right this time, amount. How nice.

FUEGO · 01-23-2008, 09:01 AM

I think they screwed this up with ISM Jan-Feb 2007 as well. Seriously guys - I hope someone at SLM is reading the prospectus so they can figure out how to properly pay us our dividends.

cute fuzzy bunny · 01-23-2008, 09:03 AM

I'm just glad I sold the @#%$ and sorry I ever bought it. Isnt that the second time they screwed up the interest rate? Is it really that hard to figure out or is this company just a bigger bunch of idiots than I thought? Because that would be a big stretch...

clifp · 01-28-2008, 02:16 AM

Now they are taking money back from OSM payments also. God what idiots

charlie · 01-30-2008, 02:00 PM

I bailed on ISM at a loss some time ago. A similar exchange traded debt
security is PFK. It pays 2+% plus YOY CPI and has a better credit rating.
If you want to stay in an inflation linked security you might
consider selling ISM and buying PFK and harvest the tax loss if you
are underwater on ISM. You can check out PFK on Quantumonline.com
This is just a suggestion, of course. Follow my advise or any other
recommendation you find on this forum at your own risk.

Cheers,

Charlie

01-04-2008, 07:31 PM	#81
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: z Posts: 19,942	Speaking of schmucks... Sallie Mae shares tumble on disclosure - Yahoo! News "We expect to see many participants exit the student-loan industry in response to the (new law) as well as current market conditions," the company said. As a result, it said, it expects to partly compensate for its reduced loan volumes "with increased market share taken from participants exiting the industry." So they'll write fewer loans, but make up the volume by taking market share from other companies? WTF? "In a stormy conference call with analysts, Sallie Mae chief executive Albert L. Lord brushed aside several questions and ended the session with an expletive." Stupid, ineffective AND offensive! A triple play in effect! __________________ Do not try and bend the spoon. That's impossible. Instead... only try to realize the truth. There is no spoon. Then you'll see that it is not the spoon that bends, it is only yourself.

01-06-2008, 09:56 PM	#84
youbet Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 3,404	The anticipation and excitement of wondering whether SLM will deposit an interest/divident payment to my account for my holding of ISM keeps my arteries clear....... The same kind of feeling I used to get from penny stocks, Vegas Night over at the parish and driving Chicago expressways. Funny though, I bought it to be a boring, inflation indexed interest payer....... __________________ Over all was the silence of the wilderness - Sigurd Olsen

01-07-2008, 08:18 AM	#87
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: z Posts: 19,942	You're presuming they stay at BBB. But the default rate isnt that high at BBB. Pretty amusing to watch this whole thing unfold. If I were going to lay out a blueprint for how to %$# up a company and make its investors want to take their money elsewhere, this is almost exactly how I'd go about it. If this Lord character moons the analysts at the next meeting, its definitely some sort of plan. __________________ Do not try and bend the spoon. That's impossible. Instead... only try to realize the truth. There is no spoon. Then you'll see that it is not the spoon that bends, it is only yourself.

01-07-2008, 12:05 PM	#88
youbet Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 3,404	SLM Shares Jump on Management Changes: Financial News - Yahoo! Finance SLM up 13%. New management at the helm. Looks like happy days are here again! __________________ Over all was the silence of the wilderness - Sigurd Olsen

01-07-2008, 12:18 PM	#89
haha Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Apr 2003 Location: Seattle Posts: 6,973	SLM up 13%. New management at the helm. Looks like happy days are here again! [/quote] At least the equity holders might want to go easy on the bubbly- Sallie Mae also said Albert L. Lord, who held the chairmanship for three weeks, has been appointed vice chairman and will remain chief executive. Ha __________________ You can't be too rich, or too thin, or too cynical.

01-15-2008, 06:17 PM	#92
Darryl Recycles dryer sheets Join Date: Mar 2007 Posts: 290	Ha, as promised I am announcing todays sale of half my purchase at $19.79 for a loss of 11 cents a share, of course I fully expect a handsome profit when I sell the other half __________________ Your focus determines your reality - Qui-Gon

01-22-2008, 08:08 PM	#94
youbet Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 3,404	I had some unexpected ISM activity in my account today. Normally I get an interest credit on the 15th and that happened normally this month. Unexpectedly today I also received a "credit interest" and a slightly larger negative posting. Anyone have any clues as to what is going on? __________________ Over all was the silence of the wilderness - Sigurd Olsen

01-22-2008, 09:14 PM	#95
clifp Thinks s/he gets paid by the post Join Date: Oct 2006 Posts: 1,564	I talked to Schwab. It seems that Sallie Mae in addition to all of their other crimes against share and bond holder is also an Indian Giver. The promised us $.09xxx interest payment in Dec 15, and today they realized they screwed up and are only going to pay us $.08xxx/share for Dec. I am too lazy to go double check the CPI numbers to see if they screwed up. The good news is it may lower your taxes/ My ISM is in my IRA so I had to sell sell Money market shares to have positive cash balance argh.

01-22-2008, 09:34 PM	#96
youbet Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 3,404	Ahhhhh........ OK I see it now........ Today's negative number is the same as the Dec credit interest. So, they debited Dec's interest and then credited me the smaller, get it right this time, amount. How nice. __________________ Over all was the silence of the wilderness - Sigurd Olsen

01-23-2008, 09:01 AM	#97
FUEGO Recycles dryer sheets Join Date: Nov 2007 Posts: 281	I think they screwed this up with ISM Jan-Feb 2007 as well. Seriously guys - I hope someone at SLM is reading the prospectus so they can figure out how to properly pay us our dividends.

01-23-2008, 09:03 AM	#98
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: z Posts: 19,942	I'm just glad I sold the @#%$ and sorry I ever bought it. Isnt that the second time they screwed up the interest rate? Is it really that hard to figure out or is this company just a bigger bunch of idiots than I thought? Because that would be a big stretch... __________________ Do not try and bend the spoon. That's impossible. Instead... only try to realize the truth. There is no spoon. Then you'll see that it is not the spoon that bends, it is only yourself.

01-28-2008, 02:16 AM	#99
clifp Thinks s/he gets paid by the post Join Date: Oct 2006 Posts: 1,564	Now they are taking money back from OSM payments also. God what idiots

01-30-2008, 02:00 PM	#100
charlie Thinks s/he gets paid by the post Join Date: Mar 2004 Location: Dallas Posts: 1,044	I bailed on ISM at a loss some time ago. A similar exchange traded debt security is PFK. It pays 2+% plus YOY CPI and has a better credit rating. If you want to stay in an inflation linked security you might consider selling ISM and buying PFK and harvest the tax loss if you are underwater on ISM. You can check out PFK on Quantumonline.com This is just a suggestion, of course. Follow my advise or any other recommendation you find on this forum at your own risk. Cheers, Charlie Last edited by charlie; 01-30-2008 at 02:46 PM.

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