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Pep Boys - Manny, Moe & Jack Message Board

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  • daninfw04 daninfw04 Sep 22, 2008 8:57 PM Flag

    Purchase of debt

    If the company continues to pay down debt and reduce LT debt to equity ratios it will make the company much more attractive. I still can't believe AAP or AZO haven't bought their retail operations since PBY has pretty much telegraphed they want to be in service only. ORLY just bought CAO (CSK) for $1 a share in cash and the rest stock. AZO could buy PBY out of their petty cash account......
    There does appear to be an interesting tug of war going on with PBY stock. Can't wait to see the short interest for 9-15 which should be available by the end of this week. Today, the stock was $6.20 bid and $6.21 ask with 2,000 shares on the bid and 600 on the ask. In less than one minute PBY traded 60,000+ shares and went to $6.67 before trending down again. Either a short position got covered, someone wanted a large block or the company bought a chunk. I have speculated that company is buying in the $6.00-$6.50 range and created a floor for stock price. This week may be a real test of my theory. Good luck to all. DaninFW

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    • Is this something Sears would be interested in ?

    • DAN, I agree there is something in the works with PBY. Advance and Zone are not going to touch this one because they don't need the mess and besides its dying anyway. The player I believe will be Sears; Eddie has a Plan A and a PLan B. PLan A - Always but at distress sales, meaning PBY still needs to tank alittle more ( 4 to 5 range ). Plan B - the old Boesky game plan - which border lines illegal parking - ESL can't show it hand because the stock will run, but that doesn't mean his "friends can't". I believe the offer will eventually be under 8 per share. Why Sears? 1) Sears was suppose to be the next great Buffet Box 2) Sears can convert the Service to Sears Tire Centers. 3)Sears can lease the Parts operations to Autozone 4) Autozone can correct PBY's broken business model into non completing fragments ( the Zone can pursue commerical as well as retail without the bays being perceived as competition to the surrounding repair businesses). 5) Sears waltzes into a supportive "hub and spoke" for is tire and tool business. I can see a garage calling in for a starter and by the way," I am looking at your sears catalog, sent also a set of impact sockets". Bottomline: A Win Win for Eddie on both fronts. Riggy