Tracking my Restricted Shares

Lets take a moment to review the activity since November 30, 2007. This was the day I was granted restricted shares in the firm for my year end bonus. Mind you that was only 5% of my 20% bonus so good for 1% of my annual compensation for 2007. Pretty immaterial in the grand scheme of things, but none the less...

I was granted these shares with a strike price $15 less than the closing price on Nov. 30th. So roughly $47/share. Today the firm projected a $2.8 Billion loss for fiscal 2nd quarter 2008 and the stock closed today at $29.48. This puts my shares roughly $17 underwater. Nice piece of annual compensation huh? They also plan on raising $6 Billion of new capital, further diluting the value of my shares. Very nice!

Anyway, the shares vest at 75% in 3 years and 100% in 5 years so no big deal if you are looking long term. Buying opportunity right?

Anticipation

Almost time for the highlight of the summer, Kristy and my trip to Chicago. We are flying out on Saturday morning on American (right before the baggage fee is implemented) and returning Tuesday night (right after the baggage fee is implemented). Should be a lot of fun. We are staying at Swissotel for 2 nights and the Hotel Sofitel for one night.

Planned dinners include Kristy's choice of Geja's Cafe, and mine of Gibson's Steakhouse. I have eaten at Gibson's before on my last trip to Chicago, but out in Rosemont near O'Hare. I really enjoyed it then, so I am looking forward to the downtown Chicago location.

We plan on seeing the Navy Pier, taking an architecture tour, and seeing the musical "Wicked" among other things. I also want to have my picture made in front of the Michael Jordan statue at the United Center. Should be a lot of fun to celebrate our 5th Anniversary.

Korea Exchange Bank

I can't help but feel sorry for my old employer, Lone Star Funds/Hudson Advisors. They have been trying to sell their interest in KEB for some time now. If you read the article, know that this is at least the 2nd major buyer they have found for the bank, but regulators in Korea either never want foreign investment in their country again or are incredibly stupid. They have been grasping at straws to find a way to keep the investment fund from making a huge profit after Lone Star took a substantial risk by buying the bank in the first place.

If you go back in time to when Lone Star bought the bank, you would see nothing but positive press in Korea of this heroic fund from America coming to save the day and their insolvent national bank. Now through excellent management, Lone Star is going to make a very hansom profit for their investors and the Koreans simply don't like that.

crock pot thief

Hope you enjoy your new crock pot. It was only $3 to begin with. I am sure it will be used well in your home. Surely, you could have at least offered half price before stealing it. I hope your pot roasts come out like boots, your queso burns, and your chicken is extra dry. Don't come back to Sachse anymore!

live blogging from the garage sale

So far we have made we have made $236 selling baby stuff, a TV, clothes, a stroller, car seat, shoes and other odds and ends. Not bad I must say.

Our neighborhood allows 2 garage sales a year and they do all the promoting of it. Yesterday we had a ton of traffic out here in Sachse, and a good time hanging out in the sun. We combined our sale with our friends the Wehrli's and they made about $170. Good results and we are getting rid of a lot of stuff! Come on out today!

maybe I lead you to believe...

Where amazing happens

Don't know if you caught the game today, but just let it be known that Dirk is one of the toughest athletes in the NBA. He is recovering nicely from that horrible fall a couple weeks ago and I am hoping for more in the playoffs,