Minutes. They are raising another 1 billion in capital which we dont want to get lost in the shuffle. 28. 7 conversion premium. A 6 cue ton. Thats pretty rich stuff for a company that many say, jim, didnt necessarily need to raise money or had plenty of cash, that cash being part of it. Any potential appeal that it might have had. As for the process itself, we all know it was a difficult one. I had pointed out many a times, the letter of intent that was signed by fairfax back in late september didnt obligate them to anything and financing a potential deal from them was going to be extraordinarily difficult as we reported right here at squawk on the street at 9 a share. They step up for 250 million of this convertible the company is issuing today. They are becoming the lead director, correct . Correct. Major turnover here. This seems to be one that every month is doing worse. So i know you said they dont need the capital but, to me, i look at it. They said they dont need the capital. Wh
Im jim cramer, and welcome to my world. You need to get in the game firms are going to go out of business, and hes nuts theyre nuts they know nothing i always like to say theres a bull market somewhere mad money, you cant afford to miss it. Hey, im cramer. Welcome to mad money. Welcome to cramerica. Other people want to make friends. Im just trying to save you a little money. My job is not just to entertain you but to educate you so call me, 1800743cnbc. After todays beautiful rally the dow gaining 120 points, the s p climbing. 88 , nasdaq falling. 97 , really knocking the socks off the panickers, worriers, and short sellers everywhere, lets cut right to the chase and go into next weeks game plan. Its clear now the most significant reason for the huge decline we experienced over this week the one where people came out of the woodwork to pronounce the bull slaughtered and the bear roaring back to prominence was the release of monthold, emphasis monthold fed meetings. Now, next tuesday a
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Offers to sell youre refor next week. Andy bush. Two of my favorite things, the oscars and chinese flash pmi. Seth mcfarland will be on. He will be great. The smes will probably disappoint for china. The ossi trade may not work out so good. Im with you for the oscars. He has a heck of a weekend. Im going to go with the euro swiss on the british down grade. Amelia . Im with todd. I like short. The kiwi cant keep a good trade down. Kathy . I would beware of big bend. If he depends q. E. Vigorously, it could kill the dollar rally. Thats it for us. Well see you back here next friday at 5 30 eastern only on cnbc. Have a great weekend to my world. You need to get in the game. Firms are going to go out of business, and hes nuts theyre nuts they know nothing i always like to say theres a bull market somewhere. Mad money. You cant afford to miss it. Hey, im cramer. Welcome to mad money. Welcome to cramerica. Other people want to make friends. Just trying to save you a little money. My job is no
Out of the woodwork to pronounce the bull slaughtered and the bear roaring back to prominence was the release of monthold, emphasis monthold fed meetings. Now, next tuesday at 10 00 a. M. , very, have i big, we find out how dated those minutes were when fed chief ben bernanke speaks in front of the senate. Nothing next week compares to this speech in its importance because if this markets going to avoid having another bear morning like we had on wednesday and thursday bernanke has to say that the fed sees the hazards of sequestration, he recognizes the spike in gasoline and the hurt the consumer might be feeling as she adjusts to the end of the payroll tax holiday, and hes going to adjust to it. He must make it clear, though, that hes not being profligate with all this bond buying, he is just simply trying to help keep Interest Rates down. Until employment picks up. He has to revert to and reiterate his stated mantra about unemployment. Ive got to tell you something. This is a tightrop