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The L.S. Starrett Company Message Board

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  • pmlljl pmlljl Oct 31, 2002 8:46 PM Flag

    Fixing Starrett, Part Five.

    My story is that I owned Starrett for six or seven years and made a good bit of money on it when it was in the mid to high thirties. Unfortunately, I did not sell all of my stock at that time. Then the price eroded through my old cost basis of $22-$23. I held on when it went into the teens but I sold the rest earlier this year when it got back to $23 so I could get my money back on my remaining position. I was somewhat concerned with several things; Increased competition from China and other parts of Asia, the economic and currency problems in Brazil and the related losses in Starrett's stockholder equity section, and the very large inventory and slow turnover. When the company spent a lot of money a few years ago on computers, I expected them to be able to reduce inventory materially. That never happened. At this point, I am glad I sold out 100%. I wish everyone else well and hope Starrett can resolve its problems.

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