by Freddie Mooche - Senior Financial ColumnistBoots & Coots (AMEX: WEL) CEO, Jerry Winchester, seemed delightedly surprised after learning that Prudential was returning $3.8 million of profits.
Laptop Battery Visit our AXcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. Take our oil & gas poll too!
According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.
Thinkpad Print This Page
Computer memory is the quickest, cheapest, and easiest way to improve the performance of your system. Find RAM memory upgrades for desktops, laptops, servers, and printers all backed by a lifetime warranty and guaranteed compatible with your computer. Shipping is an everyday low price of $1.99! Computer Memory Outlet sells memory compatible with all leading computer manufacturers like Dell, Apple, Compaq, HP, Sony, IBM, Lenovo, and many more.”
Microsoft Aug 15, 2003 (AXcess News) - Boots & Coots International Well Control, Inc. (AMEX: WEL) received $3.8 million from The Prudential Insurance Company of America from sales of WEL stock within the last six months.In what was seemed like an ironic turn of events, Prudential's surrender of the profits made from swings in Boots & Coots stock even suprized the company.Jerry Winchester, the Company's Chief Executive Officer stated: "While it is unfortunate that Prudential inadvertently incurred this liability, we are impressed with Prudential's candor and prompt payment. Obviously, this is a significant unanticipated benefit to the Company."
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Laptop Computers While Winchester was obviously pleased by Prudential's payment, it was only a few weeks before that Prudential was breathing down Boots & Coots neck as its loan payment fell into default.
Indeed, containment of the spill was at first delayed by Ogoni youths, who put the demand to the assesment team that visited Ogoniland. The team included two commissioners of the Rivers State government, as well as a member of the Rivers State House of Assembly. Other members of the team were Shell's site engineers and experts from Boots and Coots, the American oil well company. Last December, engineers from Boots and Coots helped stop a similar flow from a Shell well in Delta State, after it was vandalised by unknown persons.
Laptop Computer The well control company has had a running on again, off again affair with Prudential, only recently announcing on July 2nd (see, "The Nine Lives of Boots & Coots") that it had cured its latest default. As part of the agreement, Boots & Coots agreed to issue approximately $2.4 million of new subordinated notes to Prudential representing past due interest, with the option through December 31, 2003, to pay in kind the interest on the subordinated notes accruing through that period.The Company further agreed to accelerate the optional conversion date for approximately 33% of the Company's outstanding Series E Preferred Stock, all of which are held by Prudential, to January 1, 2004, from the original optional conversion date of December 27, 2005.Wall Street can only speculate on how Prudential's recent share sale pressures affected AMEX: WEL's share price. The well control company has been using its stock to solve its debt obligations, having issued 5.5 million shares of common stock to repay Specialty Finance, which was owed $1.4 million at that time.
"Computer industry analysts estimate that some 60 percent of all corporate data exists only on desktop and laptop computers, " said Walter Scott, CEO of Acronis. "Incorporating Acronis True Image with New Mexico Software backup server is the ideal solution to capture that corporate data and ensure that it is not lost. While traditional server backups are effective for protecting server data, every company should have a combination of server and workstation backup plans."
Desktop Computer Boots & Coots is one of the few small cap companies that has sufficient trading volume to warrant creditors' acceptance of shares for debt. Its 200-day moving average exceeds the majority of companies in its market cap range and several times in the last 12 months it was the volume leader in stocks priced under $5.00 a share. (see chart below)
Notebooks At the time of the annouced loan default cure with Prudential and payoff of the Specialty Finance loan, CEO Jerry Winchester said, "Reaching this agreement with Prudential is a key accomplishment in Boots & Coots' objective to restructure its debt. We will continue our efforts toward simplifying the Company's financial structure. The management team at Boots & Coots remains committed to this objective while improving our operating performance."
Lenovo Now that the street's gotten a glimpse into Winchester's thoughts wth the surprise rebate from Prudential, investors can see his aim; when the paper runs out, print some more.
Hard Drive If Winchester really wanted to paper the town, his company would be on the look out for a cashflow stream of acquisitions. His management style is one that supports Winchester's ability to lead under pressure, that same style combined with the market liquidity of Boots & Coots stock puts the potential for expansion at hand if dilution is thrown to the wind.
Travelstar Only time will tell what Winchester's got up his sleave next.
Gateway AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If your not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.
[ Comment, Edit or Article Submission ]
