In total, the company had purchased 16.5 million shares at a total cost of $937.6 million, or an average price of $56.79 per share.
Acclaimed movie director Billy Wilder once said: “Hindsight is always twenty-twenty.” At October 27, 2008, with the common stock of Ensco trading at $33.40 a share, the company had lost about $386.5 million, or almost 41 percent, of the cash invested in the repurchase programs.
The Question: Might reinvesting the money on expanding its core offshore drilling business — opportunistic purchases of rigs on the cheap from smaller companies unable to compete in the current environment — be a better spend?
In September 2008, the Board of Directors authorized the repurchase of an additional $500 million of Ensco common stock.
Last Updated Oct 29, 2008 2:16 AM EDT. Pursuit of its own shares was probably not a meaningful tool in building value for Ensco stockholders.
The Upshot: During the nine-month period ended September 30, 2008, Ensco repurchased 3.7 million shares of its common stock at a cost of $256.0 million (an average cost of $69.92 per share) under a 2007 authorization plan
Powered by 150 to 250 horsepower outboard motors, they are equipped with live wells, electronic depth and fish finders, and electric trolling motors. Two-man jon boats can weight as little as 80 pounds. Canoes are also easily carried on roof racks. Anglers can choose from well-appointed bass boats with high-powered motors to personal water craft such as float tubes, with many other possibilities in between. They are light enough to carry on top of trucks and SUV’s, eliminating the need for a boat trailer. These boats are very stable, with wide, flat bottoms, but unlike jon boats, the bow and stern both taper to a point. Although float tubes are great for moderately deep holes, they are of little use when the water is shallow enough for standing, and they are not suitable for navigating rapids.
Jon boats are flat-bottomed craft with squared-off bows and sterns. Whether skimming the surface of a major river in a high-powered fiberglass vessel in search of 50 pound catfish, seeking browns and rainbows from a well-equipped drift boat, or gliding along quiet, wooded riverbanks in a kayak, anglers will enjoy fishing from the boats that best suit their needs. They are usually constructed of fiberglass and are over 18 feet long. With such a wide selection, every fisherman can find the boat that suits his budget and his fishing style.
Fishing Smaller Rivers
Fishing Big Rivers
Anglers who are after big catfish will need boats of a different style.
Pontoons have a seat for the passenger that is mounted between two floats. For moderately deep rivers with shallow stretches, it’s hard to beat a drift boat.
The angler who is shopping for a river fishing boat should be able to find the perfect craft.
Drift boats are popular with fishing enthusiasts and guides. They come equipped with rod holders and storage compartments.
Starting with the most expensive boats first, bass boats are the craft of choice for anglers who want to get around on big rivers in little time.
Very shallow water is known as skinny water. The heavy rods used in this type of fishing are mounted on the stern of the boat, so a deeper boat with a sturdy transom is necessary.
Choosing the best boat for river fishing depends upon the type of fishing desired and the size and depth of the rivers to be fished. These rugged aluminum boats can manage shallow water, and they stand up well to the occasional collision with underwater rocks and stumps. These can navigate shallower water than either jon boats or drift boats. These craft are easy to maneuver and light to transport. Boats of this type may be fiberglass or aluminum.
Fishing Skinny Water. However, major rivers have powerful currents, so the boat must be substantial enough to accommodate a big outboard. Anglers who seek smallmouth and trout in less powerful waters need boats that are versatile and maneuverable. These may be solid or inflatable, and they are tapered at the front end for greater responsiveness when the passenger needs to steer through rapids.
Smaller rivers don’t require as much current-kicking power. Fishing kayaks are designed to be wide and stable. Good watercraft for such rivers include kayaks, canoes, and float tubes. These low-slung boats have raised casting platforms in the bow and stern. These boats can come completely outfitted with storage boxes, pedestal seats, recessed rod holders, side or floor anchoring systems, and passenger seats. They are less stable than the wide, sit-on-top kayak designs, but they provide greater freedom of movement for passengers
You can place wagers 24 hours a day, 7 days a week. The ability to make wagers quickly, securely and easily makes offshore betting very popular.
Most offshore wagering sites have all of this in one site or they are linked to their sister site that handles a particular interest. This can be done in various ways from money orders and bank wires to credit cards and online money services. You don’t have to go to a local cardroom to play poker. There is no question that gamblers are flocking to online gambling sites in record numbers. For example, an online site might have a sports betting name but be very involved in poker as well. You would then have access to their poker site with the same money you used for sports betting. No longer do you have to go to a local casino to place wagers on sports. The ability to make wagers and play poker from the comfort of your own home is a huge plus for gamblers around the globe.
Dealing with an online betting offshore site can be like dealing with a bank. Your money is safe and secure and available for use at anytime. Another plus is that these sites give you bonuses and perks for gambling with them. Normally you can get deposit bonuses that you can turn into real money.
From sports betting and horse racing to poker and casino play, offshore betting is how many gamblers bet their money.
Offshore betting begins for most gamblers by sending money to an offshore gambling site. The same thing applies to horse racing and casino wagering as you would be linked to those options through the one site.
Open a New Account and start offshore betting on sports at SBG Global!
The easy of betting offshore is a huge appeal to most gamblers. The money is put into your offshore online gambling account and bets can be made on a wide variety of things including sports, horse racing, poker and casino games.. You can deposit or withdraw your money from these sites at anytime. You can do everything at one gambling offshore site
Related: 4 reasons September could be good for stocks
The betting appeal: Americans bet an estimated $380 billion each year on sports.
“You’re making a wager based on some facts and some intuitions.
Such hedging tools are not as readily or even feasible to sports gamblers, Fine said.
To put it another way, the stock market is a lot more forgiving than the MGM Grand (let alone your local sports bookie). It’s easy to see why fans may be tempted to gamble on their favorite teams and athletes.
Manning is really, really good at what he does for a living.
“Betting is more difficult and riskier,” said one resident of Hoboken, New Jersey, who bets on illegal gambling sites and also invests in stocks.
Those are pretty good odds. Gambling on football star Peyton Manning to win might seem like a safe bet, especially compared with picking winners in the stock market.
Related: Apple and 9 other stocks hit new records
Investors also have the ability to spread their money out among many stocks.
And investors have greater access to tools that can minimize the risk of losing money.
That’s the percentage of time that Stovall’s research shows the S&P 500 — the gold standard in the stock market — has increased in value during the years since 1926. A bettor gambling on the Green Bay Packers will instantly lose his or her entire $500 bet if Aaron Rodgers and his teammates fail to win or cover the spread. Heck, even his commercials are funny. And in neither instance can you be guaranteed to be correct,” said Randall Fine, managing director of The Fine Point Group, one of the casino industry’s largest consulting firms.
However, someone sinking $500 into Apple stock has little risk of losing that entire initial investment, especially in the short term.
But take it from one person who has lots of experience in both worlds.
A stock can theoretically be held onto for an infinite amount of time, but a sports bet can end in the blink of an eye.
“You can hold onto your betting tickets all your life, but you’re not going to get squat,” said Stovall. Gambling on sports may be more fun, but it’s definitely a more risky use of money than putting it in the stock market.
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But don’t let those similarities fool you.
“A lot of people regard investing as gambling, but I frequently say no.
In the long run, investors have the chance to make more money because there are fewer downside risks.
CNNMoney (New York) First published August 31, 2014: 8:14 AM ET
They both believe they can predict the future, and they sometimes fall into the trap of making decisions with their hearts instead of their brains. While many stocks offer steady returns, investors sometimes hit the jackpot (think: buying Apple back in early 2009 or Tesla in 2012). For example, a stop-loss order instructs a broker to dump a stock when it tumbles below a specific price.
The same can’t be said for those who bet big on the Denver Broncos last Super Bowl.
At the same time, investing in stocks actually carries higher upside potential.
Related: How $2 billion Clippers bet could pay off
Gamblers and investors also have far different time horizons. People often invest in funds that buy dozens or even hundreds of stocks, which helps reduce the risk.
Even the unlucky investors who jumped into the market at its peak in October 2007 eventually made their money back when stocks reclaimed their pre-recession levels in 2013.
“A large, steady company has a low chance of plummeting and causing you to lose all your money, but even Peyton Manning doesn’t cover the spread sometimes,” he said.
All or nothing: Gambling on sports tends to be a zero-sum game. The stock might go up and down some, but it typically doesn’t go to zero. He asked for his identity to be withheld due to legal concerns. Which casino in Atlantic City, Las Vegas or Macau pays the bettor 73% of the time?” said Sam Stovall, chief investment strategist at S&P Capital IQ
Betting also threatens the integrity of sports games by opening the door to price fixing, the leagues argued.
The park has already spent $1 million to outfit a sportsbook room through the largest North American sports betting operator, the U.S. The NCAA said in a statement that “the spread of legalized sports wagering is a threat to student-athlete well-being and the integrity of athletic competition.”
“A New Jersey win will have immediate, far-reaching implications beyond its borders,” said Daniel Wallach, a Florida sports and gambling attorney who has followed the case closely. The leagues said that violated a 1992 federal law that banned the activity in all but four states – particularly Nevada – where it was already allowed. Court of Appeals for the Third Circuit.
Humphrey and others called the leagues “hypocrites” for blocking sports betting while actively investing in fantasy sports companies.
“There is an obvious appetite among sports fans for a safe and legal way to wager on professional sporting events,” he wrote.
So far, the NBA is the sole league calling for federal authorization.
A decision is expected any day from the U.S. In a November op-ed in The New York Times, NBA Commissioner Adam Silver urged Congress to adopt a federal framework to allow betting on professional sports, arguing that a state-by-state spread of measures like New Jersey’s would be bad public policy.
If legal sports betting spread, New Jersey could eventually grab about $10 billion of a national market that could be as much as $400 billion, said Dennis Drazin, an advisor to two parties involved in New Jersey’s Monmouth Park Racetrack, where on Aug. But with an eroded casino industry and sluggish state economy, New Jersey has been pushing for sports betting for several years and carrying the ball in the legal battle while other states wait and watch.
NEW YORK Legalized U.S. subsidiary of Britain’s William Hill PLC. 2 American Pharoah won his first race since taking the Triple Crown.
By Hilary Russ
| NEW YORK
The state may have only one major league franchise bearing its name: the New Jersey Devils NHL hockey team. It could be as big as $3 trillion, nearly all of it illegal, he estimated.
Those venues would then be free to oversee their own sportsbooks under the latest bill, which the sports leagues also tried to block in court. They won that case as well, and New Jersey appealed.
Other states – especially Pennsylvania and Delaware, which are also in the Third Circuit – might immediately follow New Jersey’s lead if it won and begin pushing for broader sports betting, Wallach said.
“Our long-standing position against the proliferation of gambling on NFL games remains,” NFL spokesman Brian McCarthy said in an email.
But New Jersey faces long odds, according to some analysts. The NHL did not reply to a request for comment.
The tide may be turning, however.
The NCAA, NFL, NBA and other leagues sued after New Jersey lawmakers legalized sports betting in 2012. Whichever side loses will almost certainly appeal.
“It’s going to go down in flames,” said Chuck Humphrey, lawyer and author of the website gambling-law-us.com.
New Jersey lost the case, but it tried again last year with new legislation that attempts an end-run around the federal ban – which prohibits states from authorizing, sponsoring, operating or licensing the practice – by essentially removing state control and deregulating sports wagering at casinos and racetracks.. sports betting, resisted by professional leagues since they won a federal ban nearly a quarter century ago, could begin spreading around the country if the state of New Jersey prevails in a pending federal court case.
Major League Baseball declined to comment.
Americans bet $3.8 billion illegally on this year’s Super Bowl game, compared to approximately $100 million of legal bets on the event annually, according to American Gaming Association estimates.
Globally, the market is at least $1 trillion, 90 percent of it conducted illegally, said Patrick Jay, who oversaw Asia’s largest regulated sportsbook as director of trading at the Hong Kong Jockey Club. “It will prompt swift action by other states.”
(Reporting by Hilary Russ; Editing by Frances Kerry)
“It would be a huge economic boost to Monmouth Park and New Jersey and Atlantic City casinos,” Drazin said