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- Tim Bergin (of On Beyond Investing newsletter) wrote a post on Life Insurance Company of Alabama. See our earlier posts on this: Life Insurance Company of Alabama, Shareholder Activism at Life Insurance Company of Alabama, and Letter Sent to Life Insurance Company of Alabama (LICOA) Shareholders. Also see the Concerned Shareholders of LICOA website. There was a hearing in the federal court cases against LICOA on Wednesday, and the court rejected LICOA's motion to dismiss which means that LICOA will have to file an answer and discovery will be proceeding.
- Management at First United Corp (FUNC) won the proxy contest against activist investor Driver Management. Unfortunately, Glass, Lewis & Co. and Institutional Shareholder Services Inc. both recommended that shareholders support First United's management, which resulted in the Vanguard and DFA index funds voting for management. Be sure to see the letter that Driver wrote to the Maryland Commissioner of Financial Regulation about FUNC's efforts to derail activism.
- We posted updates on results from Hanover Foods, Pardee Resources, Coal Creek, as well as a proposed reverse split at York Corrugating. We are working on the June 2020 Issue of the Oddball Stocks Newsletter, which will be our 30th. It will have updates on annual results for tons of the Oddball companies. If you are curious about trying it we have back issues available a la carte as well as a Highlights Issue which we released in February.
- Tesla (which we have written about in the Newsletter) broke $1,000 per share and has a market capitalization and enterprise value second only to the far larger and more competent Toyota Motor Corporation. If you have never delved into Tesla before, check out some links... Tesla Deaths, podcasts like TeslaCharts and Quoth the Raven, Crowdsourced Tesla Research (which shows things like sudden unintended acceleration Vehicle Safety Complaints), Elon Musk Today (which has unfulfilled Elon Musk promises and predictions), PlainSite (with a comprehensive report).
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