SURPRISE SEX: ENER INTERRUPTS BULL RUN WITH BANKRUPTCY FILING

Fucking morons deserve to lose money.

Down 80%, after an early rally.

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$150 mill+ gone.

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13-d

CVR Energy: Icahn spoke with mgmt and told them CVI would be better served if it commenced a process to put itself up for sale – amended 13D filing (26.96)
On February 13, 2012, Carl C. Icahn and other representatives spoke with Jack Lipinski, the Chairman, Chief Executive Officer, and President of CVI, and discussed the initiatives announced on February 13th. Icahn stated that they believed that shareholders would be better served if CVI commenced a process to put itself up for sale, rather than pursue the limited initiatives announced by the co. Icahn believes that CVI’s stock price does not reflect current high crack spreads. CVI is a small company with only two refineries. As a result, shareholders face an unfavorable risk reward ratio since they bear not only the risk of a decline in crack spreads, but also the risk of production interruptions which would reduce the upside from high crack spreads. Icahn expressed their belief that there are three or four possible acquirers that could benefit greatly from the synergies that could be realized from a combination with CVI and that are better positioned to hedge currently high crack spreads. Mr. Lipinski stated that he would take the Icahn’s suggestions under advisement and discuss them with his board of directors and advisors.

[youtube:http://www.youtube.com/watch?v=9chNh_baJe0&feature=g-all-u&context=G290057fFAAAAAAAAQAA 603 500]

This is in response to this ridiculous video

[youtube:http://www.youtube.com/watch?v=buHdybFhoo4&feature=g-all-u&context=G2b3801bFAAAAAAAAEAA 603 500]

[youtube:http://www.youtube.com/watch?v=B0Xhrd8SIb4&feature=g-all-u&context=G2b79b96FAAAAAAAADAA 603 500]

Jeremy Lin had 38. Obviously, he discovered some sort of sports enhancing serum while studying at Harvard.

+1.9% for the day, thus far.

ROFL. You fuckers are all gonna die, one way or another.

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GSV Capital files form N-2 related to offering of 3 mln shares (19.50 +0.75)
From filing: “Our common stock is listed on the NASDAQ Capital Market under the symbol “GSVC.” On February 8, 2012, the last reported sales price on the NASDAQ Capital Market for our common stock was $18.75 per share, which represents a premium of 41.4% to our net asset value per share as of September 30, 2011, or 46.5% to the low point of our unaudited estimated net asset value per share range as of December 31, 2011. In addition, our investment adviser, GSV Asset Management, LLC, and our administrator, GSV Capital Service Company, LLC, have limited experience managing and administering a business development company, respectively.”

In a private sale, 150,000 shares of Facebook were sold for $44, reported today.

Down $16 to $20.

Diamond Foods: audit committee investigation announces findings – will restate 2010 and 2011 financial statements; announces appointment of new CEO and CFO (36.66 -1.00)
Co announced that the Audit Committee of its Board of Directors has substantially completed its investigation of the Company’s accounting for certain crop payments to walnut growers. The Audit Committee has concluded that the Company’s financial statements for the fiscal years 2010 and 2011 will need to be restated. Over the course of the last three months, the Audit Committee has carefully reviewed the accounting treatment of certain payments to walnut growers. The Audit Committee has concluded that a “continuity” payment made to growers in August 2010 of approximately $20 million and a “momentum” payment made to growers in September 2011 of approximately $60 million were not accounted for in the correct periods, and the Audit Committee identified material weaknesses in the Company’s internal control over financial reporting.

The Board of Directors is taking a number of corrective actions including the appointment of a new Chief Executive Officer and Chief Financial Officer. Effective immediately, the Board has appointed Director Rick Wolford to serve as Acting President and Chief Executive Officer and Michael Murphy, of Alix Partners, LLP, to serve as Acting Chief Financial Officer. The Company is commencing searches for permanent replacements for the CEO and CFO positions. The Board has also appointed Robert J. Zollars, who previously served as Lead Independent Director, to the position of Chairman of the Board. Michael J. Mendes and Steven M. Neil have been placed on administrative leave from the Company.

Diamond is working diligently to complete financial restatements for the affected periods and will file all required reports with the U.S. Securities and Exchange Commission as soon as possible. While the timing of the restatement is difficult to predict at this time, the Company will endeavor to provide updates on timing and other material developments.

Rick Wolford previously served as Chief Executive Officer, President and Chairman of Del Monte Foods. Michael Murphy is currently a Managing Director at Alix Partners, a leading financial consulting firm.

Hmmm, I wonder why? Maybe it has something to do with the fact that they are worthless, and will never be honored due to perpetual bailouts.

Heavy primate population in those states.

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