Company Profile SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services. The company also offers facility maintenance services, including power sweeping and washing, painting and general repairs, and cleaning and seasonal services; security services comprising training and hiring of security officers and patrol, as well as customized services and technology; and an online and mobile app consumer platform through parking.com website. In addition, it provides multi-platform marketing services, including SP+, AeroParker, and KMP Digitata branded websites that offer clients a platform for marketing their facilities, mobile applications, search marketing, email marketing, and social media campaigns. The company offers its services primarily under the SP+, Sphere, Bags, AeroParker, MetroParker, and KMP Digitata brands. It serves private and public owners, municipalities, managers and developers of office buildings, residential and commercial properties, shopping centers and other retail properties, sports and special event complexes, hotels and resorts, healthcare facilities and medical centers, airlines, and cruise lines. The company was formerly known as Standard Parking Corporation and changed its name to SP Plus Corporation in December 2013. SP Plus Corporation was founded in 1929 and is headquartered in Chicago, Illinois.
A MESSAGE FROM THE TOP FLOOR- They want us to believe that this might be an electric squid. Look carefully at tail I don't think so and the disc-like form-
Interesting tidbit from an old insider trading case King pharm- funny story- In January 2019, the Second Circuit found a patent attorney guilty of violating the federal laws against insider trading (United States of America v. Tibor Klein and Robert Schulman) related to a merger between Pfizer and King Pharmaceuticals in 2010. Schulman was a patent attorney who represented King Pharmaceuticals. He learned from one of his law firm colleagues about the potential merger. The defendant (Schulman) was not able to convince the jury that his casual pun – “Boy, it would be nice to be king for a day,” which he made over dinner and drinks with his financial advisor (Klein), was not conspiracy to commit securities fraud regarding the Pfizer-King merger. The pun, he said, was “a boastful, imprudent” remark with no relation to King Pharmaceuticals and no intention of tipping his financial advisor to trade on the information. In his deposition, Schulman said this (from the court decision found here): [T]here was one evening when Mr. Klein was at my house where I did mention, and I kind of made a joke with him, “boy, it would be nice to be king for a day.” And I made some joke with him about that. And at that point I would have never told him anything about their meeting, there’s a potential merger, it would have been much more of the nature of “hey, wouldn’t it be great to be king for a day, ha, ha, ha,” kind of like telling him, like acting like I am a big shot and I know this thing. But that’s the extent of what I would have communicated to him. According to Schulman, the evidence only suggested that he “made a misguided comment to a friend in an effort to show off that he knew something that the public did not.” The court disagreed: Although Schulman told the SEC that he had communicated “nothing” more than that he wished he could be king for a day … a comment that, by itself, is innocuous—the jury was entitled to disbelieve that he communicated nothing more. The district court instructed the jury to draw “reasonable inferences,” … and “us[e] common sense”… The court stated that as a matter of common sense, for Schulman’s comment to even make sense as a joke or a boast, he had to have communicated additional information to Klein, and Schulman admitted to the SEC that he was, in fact, referring to King Pharmaceuticals when he made his king-for-a-day comment. There was more circumstantial evidence that the jury considered as well, including the fact that Schulman’s financial advisor, Klein, not only bought shares in King Pharmaceuticals ahead of the merger for 48 clients, including Schulman, but he also shared the information with a friend who bought trades ahead of the merger as well. That friend was a financial advisor for Ameriprise Financial, and he was subsequently investigated by Ameriprise a few weeks after the merger when he sold his King stock. This set off a series of investigations leading back to Schulman. It’s worth noting that the friend admitted his guilt and cooperated with the government, including by testifying at Schulman’s trial. As a reminder, in an insider trading case, proof must exist that the insider would personally benefit from the disclosure to the tippee – and “benefit” can be interpreted in different ways. In this decision, the court pointed out that the “critical question regards the tipper’s purpose: did the tipper share the material non‐public information with the tippee intending that the tippee use the information to improperly trade in securities?” Unfortunately for Schulman (and Klein), the jury answered yes.
Disclaimer - That is a joke. I know nothing absolutely nothing. There is no rumor at all and why should there be? We are waiting for a trial nothing more. I am down alot so it's not like I am benefiting in any advance way if I were to wake up tomorrow and the outrageous happened.
When you become hitched to stonedinvesting mindset you end up with the coolest companies. Case In point- Builders FirstSource upgraded to Outperform from Sector Perform at RBC Capital 18:44 BLDR
What do you make of IEP? They took down Adani and SQ. The best pizza place is run by a Indian(Punjabi speaking) guy, he love’s mentioning Hindenburg every time I buy his broc-chick pizza.