Long story:
1. my daughter is expecting a baby boy, she has a baby girl who in our opinion is the best thing that happened to our families! Being the dutiful grandparents we decided to move closer to where she lives. So although we are still in the same general area we are moving 60 miles north, north east of where we live.
2. I have a tax practice which means that I work even longer hours from mid January thru April 15, actually my wife doesn't believe that is possible!, so we had to move before tax season starts.
Hence we started our search around the 10th of November and by the 18th of November we had bought our new home. However to finance the purchase we had to remodel our existing home, stage it for listing and subsequent sale. By the 11th of December we had sold our existing home.
3 The day our house was being listed for showing, we sprang a leak and the kitchen was flooded, fortunately I got it in time and put buckets in the attic to prevent further damage. While I was taking care of the water damage, the phone rang and my broker informed me they were liquidating my stocks as I hadn't responded to the margin call. I gave them the stocks and the order in which to sell and specifically told them NOT to touch my UNS stock. I had about 80,000 - 100,000 UNIS shares, mostly calls and puts. The only stock they liquidated was my UNS stock because that was sufficient and easy to meet the call. Legally they might be right but ethically they suck! I do not like lawsuits and I dislike lawyers who sue just because they can. In the US the lawyer gets paid even if they bring a frivolous case, so I am still debating whether that would be the right approach, since I don't like this type of lawyer, but how do you get justice when you are clearly wronged. Any thoughts?
BTW buying back on margin after a call is pretty complicated and it needs an ascending market, something that didn't happen!
I still believe in UNS but missed the recent jump in price, although I have bought back over 15,000 UNIS shares since the fiasco. I still think this is the best retirement stock but my broker sure made it complicated!
4. As we are moving my staff found other jobs and left
5. We move this weekend to our new home. We ahve lived in our present home for over 30 years. Try sorting your junk from your stuff!
6. We have some family issues
7. I still love life & UNS but I hope this helps explain my absence. IMHO this is still one of he best stocks to buy and hold until events overtake it. So far I see none on the horizon. Replacing the CFO, overdue IMHO, and signing new companies is the right approach. So be long but stay diligent.
I am guessing I am going to be dormant on this site for a little longer, or until I can get my life back in order, so thanks for your patience, assuming you really cared!!
As usual just my 2 cents & thanks for listening
UNS Price at posting:
88.5¢ Sentiment: Buy Disclosure: Held
