.37 eps beat avg est of .31 and high estimate of .34 also.
As for those "useless parking lots" (large lots near major cities with major highway access!!!!) everytime they move to a larger lot thye make a nice gain on the old one. Wish I owned some fo the "useless parking lots" !!!!
Div increase but I don't see to how much in ht PR My guess was .09.
Disagree with long-term investment of fixed sale sites. In the past property investments in commercial or industrial sites would have been considered bullet proof. Well, thats not true anymore. These site are costly to run and maintain and may not always hold values as they have in the past. They have been proven to be great tax shelters, but I would rather see a more dominent position on internet sales and a real push into the next phase of giving the internet customer the feel of being onsite. Through the use of better methods of inspection and more detailed images and inspections. The internet customer really cares more about what shows up at his doorstep then a free hat, or a few bottles of water. Or better yet, being glad handed by a wet behind the ears sales person fresh out of college with a degree in history. Ritchie has always prided itself on customer relations and its an important part of the mix, but with the advent of the internet we have moved to a less customer oriented world. The only thing the internet customer can rely on is the facts and this company has lost site of its largest growing sector......The internet, and how to embrace the next generation of buyers.
Another "Parking Lot" opening in Japan very soon. Probably before Caterpillar totally upsets the used equipment marketplace with their new auction enterprise. Methinks "IKNOWUSED" is really "IKNOWUSEDCARS"!
Parking lots, missing the point. These parking lots have faciliated sales in the past. The future sales yards are the internet. In most cases the sites are better off the books as leased or rented. Not owned..........
The sales sites have been the largest contributor to expenses IE: employees, yard managers, mortgages.
"The sales sites have been the largest contributor to expenses IE: employees, yard managers, mortgages."
By your reasoning Home Depot should shut all their stores and fire all employees since that is the biggest expense and just sell over the internet. Productive employees and auction sites are assets, not liabilities.
No one is forced to attend on site but they still CHOOSE to.