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BUY GECCL. BUY UP TO $25.15

March 20, 2018

(Update:  Goes ex-dividend April 12 (40 cents) so the current price of $25.13 is reasonable to buy.)

Yesterday we placed a limit order for GECCL at $25.05.  With the market plunging, we were hoping to “get lucky” and get filled.  As it turned out, the low of the day was $25.05 and we got the shares.

GECCL, a business development company, is acting quite well.  We suggest you buy if you can get a price close to $25.05.

QUANTUMONLINE.COM SECURITY DESCRIPTION: Great Elm Capital Corp., 6.50% Notes due 2022, issued in $25 denominations, redeemable at the issuer’s option on or after 9/18/2019 at $25 per note plus accrued and unpaid interest, and maturing 9/18/2022. Interest distributions of 6.50% per annum ($1.625 per annum or $0.40625 per quarter) will be paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the record date that will be 1/15, 4/15, 7/15 & 10/15 respectively

BUSINESS: Great Elm Capital Corp. is an externally managed, specialty finance company focused on investing in debt instruments of middle market companies. GECC elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. GECC’s investment objective is to generate both current income and capital appreciation, while seeking to protect against risk of permanent capital loss. GECC focuses on special situations and catalyst-driven investments as it seeks to generate attractive risk-adjusted returns.

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Another federal agency is embroiled in a large-scale pornography scandal and in this case, it took leadership five months to block hundreds of websites used by employees and contractors to watch porn on government computers during work hours. It involves the U.S. Department of Agriculture (USDA), a bloated agency notorious for wasteful spending and an eye-popping $140 billion budget. The agency’s mission is to provide leadership on food, agriculture, natural resources, rural development, nutrition and related issues.

Back in September the USDA’s Office of Inspector General (OIG) blasted the agency for misusing information technology networks to view pornographic content on government-issued computers and other communication devices. In a management alert memo the watchdog revealed a “significant increase” in the number of USDA employees and contractors viewing and sharing unlawful or otherwise inappropriate pornographic content using their government-issued computers and other communication devices. Some of the content includes child pornography, according to the USDA OIG memo. “This employee misconduct is preventable, and it unnecessarily exposes USDA and its systems to significant risk,” the OIG memo states.

https://www.judicialwatch.org/blog/2018/03/significant-increase-usda-employees-viewing-porn-govt-computers-work/

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