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Wow!

Discussion in 'Swift' started by mike76, Dec 17, 2010.

  1. Dec 17, 2010 #1
    mike76

    mike76 Light Load Member

    165
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    Sep 3, 2009
    mesa,Arizona
    0
    I knew swift had a debt problem, But did not think it was that high.


    Phoenix-based Swift Transportation Co.raised $806 million Thursday in its initial public offering, in the second biggest IPO by a U.S. company this year.
    Only General Motors Co.'s $20 billion stock sale in November.
    Swift share prices closed on Thursday at $11.10, just barely above the company's informal asking price of $11.




    Trading was flat all day, with the per-share price ranging between $10.61 and $11.16. The company offered 73.3 million shares.
    The trucking company, owned by former Phoenix Coyotes owner Jerry Moyes, originally had planned on suggesting a price in the $13 to $15 range.
    Moyes founded the company in 1966. It went public in May 2007 but in 2007 he bought it back for $2.74 billion, paying $31.50 a share.
    Swift remained a private company, losing money every year, and still had at least $2.3 billion in debt in September.
    The company's shares trade on the New York Stock Exchange under the ticker SWFT.



    ​
     
    mike76, Dec 17, 2010
    mike76, Dec 17, 2010
    #1
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  3. Dec 17, 2010 #2
    biker dave

    biker dave Medium Load Member

    439
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    Jul 5, 2010
    pittsburgh,pa
    0
    yep, read that at http://www.truckinginfo.com/news/news-detail.asp?news_id=72443 they where hoping to get 14 dollars per share but got only 11 dollars or so, there almost 3 billion dollars in debt, this IPO will reduce it to under 2 billion, BUT the interest on that DEBT is 240 million per year, NOW you know why they want you to lease and students are running team to help the bottom line, i was looking at two companys this spring, millis transfer and swift, now its millis transfer and werner, there DEBT free and there stock price is 22 dollar per share, jb hunt is 39 dollars per, swift only 11 bucks,
     
    biker dave, Dec 17, 2010
    biker dave, Dec 17, 2010
    #2
  4. Dec 17, 2010 #3
    scottied67

    scottied67 Road Train Member

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    Mar 14, 2010
    california norte
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    Yes we to acknowledge a blackout period wherein Swift employees may not engage in SWFT equities trading. I was like 'shucks, can't short it lol' .
     
    scottied67, Dec 17, 2010
    scottied67, Dec 17, 2010
    #3
  5. Dec 17, 2010 #4
    DickJones

    DickJones Road Train Member

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    Aug 16, 2010
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    as far as they know....
     
    DickJones, Dec 17, 2010
    DickJones, Dec 17, 2010
    #4
  7. Dec 17, 2010 #5
    scottied67

    scottied67 Road Train Member

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    california norte
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    Swift directly says you cannot short sell SWFT stock as an employee. You may not go long using margin either.

    Swift would never find out you were doing these things against company policy, until you did your taxes lol. Then the SEC would get involved and you might go to jail.
     
    scottied67, Dec 17, 2010
    scottied67, Dec 17, 2010
    #5
  8. Dec 18, 2010 #6
    DickJones

    DickJones Road Train Member

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    hmmm.....think so?
     
    DickJones, Dec 18, 2010
    DickJones, Dec 18, 2010
    #6
  9. Dec 18, 2010 #7
    scottied67

    scottied67 Road Train Member

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    california norte
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    I triple dog dare you to short even 1 share of SWFT.
     
    scottied67, Dec 18, 2010
    scottied67, Dec 18, 2010
    #7
  10. Dec 18, 2010 #8
    DickJones

    DickJones Road Train Member

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    whats wrong scott.....you insecure you have to bring down others around ya? I've seen the ads on TV for the meds for that....

    and besides...there are ways around EVERYTHING.... ;-)
     
    DickJones, Dec 18, 2010
    DickJones, Dec 18, 2010
    #8
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