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The L.S. Starrett Company Message Board

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  • pmlljl pmlljl Jan 5, 2011 6:04 PM Flag

    Increased dividend


    Yes I remember SCX in the $40 range. In fact, I sold most of my stock in SCX at that time in the high $30s. I have been in and out a few time since and usually made money but it has been a tough slog for SCX.

    I am wondering if Gabelli has something in mind with SCX. I see that his organization owns a meaningful investment in SCX and he is filing 13d's occasionally. Do you know anything about that?

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    • Don't know about the motives of Gabelli. Hopefully for shareholders they have a plan.

      Starrett has bungled in several ways... a poor transition from a once proud United States manufacturer to a bit-player in metrology serving a global market. Look at enterprise value today - sad.

      The biggest error was the family decision to retain a Starrett at the helm. Not all of Leroy's genes were handed down. More successful companies have retained a majority board role but moved on to professional management with objective incentives.

      Nowadays it is a question of corporate governance. Imagine being a
      Starrett board member who senses a fiduciary responsibility to a non-family member shareholder?

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