You are correct, but I have been thinking that way for a long time and nothing good has happened. Looks like we will have to wait until someone either buys them out and shuts them down, or their sales drop off to nothing and they have no choice. Does not appear that they have any intention invest their cash to diversify. Have to give them a lot of credit for keeping the balance sheet in great shape thru this economy, at least up until now.
I noticed on the balance sheet 8.6 mill in Property, Plant & Equipment. I would bet they wrote down the plant & equip to practically nothing with depreciation over the years. The property value is what interests me. I would bet they are carrying that on the books at a value set probably after the war (1945) and it might be worth 20 to 50 times that now. Hey I bought my house in 1962 for 22ooo and I could easily see it now for 500,000. Interesting situation.