Pep Boys - Manny, Moe & Jack Message Board

You would think the board would have taken into considertion the background of Gores and see how they walked from past deals.

well at least the grunts just have to update the data room for current results.

Those that don't learn from history are doomed to repeat it. Watch and learn. DaninFW

why do you think anyone cares what you have to post when you admittedly aren't following what is going on and are more focused on bragging about prior unrelated trades?

I don't care about the price today. I wouldn't touch it. I like as I have stated many times before if you could read, below $10.....DaninFW

why do you keep on citing your 1000s of prior posts? who cares when you are posting incorrect information today? you also seem to think that bragging about prior trades somehow gives you street cred here. again, who cares when you are posting incorrect information today about PBY?

you also completely contradicted yourself when you claimed that you have "zero interest in PBY's [sic] at present" but then "will play again at certain levels." so you do actually care about the price today.

Banks get very nervous when actual results do not meet projections. To them its a sign of problems and they are skittish. If an adverse material condition is found, they could walk or ask for revised projections and then they will walk, or ask to fund less, and in turn the buyer would ask for price reduction. Gores should be buying AZO shares. Management should have been managing the situation better, looking under every chair for excess coins, clean out your returns area etc.

I am well aware of PBY's history. I should have elaborated more. PBY's has had a for sale sign in front of their corporate offices for 10 years now......they have received no offers in the last two "published" attempts. Before, the BOD's wouldn't consider an offer below $18 and supposedly had some offers but no where close to what the two hedge funds that controlled PBY wanted at the time. One hedge fund is now gone and the other has been dumping for years now. You might want to research the history of PBY. DaninFW

the fact that there wasn't another bidder means nothing. gores signed an exclusivity agreement with PBY at the end of november so there never was going to be another bidder once the $15 deal was announced. when was the last time a go-shop period actually resulted in a better offer? that's just a CYA for the board to defend the frivolous lawsuits alleging it breached its fiduciary duty.

Garbage is a little harsh. If they want to part with $50 million, they will do whatever they want to do. They can just expect that they will not be offered as many deals going forward and the termination fees they will be forced to offer will climb substantially.

The deal will get done. It just provides another trading opportunity.

But Pep Boys said the "results were below expectations due to a variety of factors occurring in the ordinary course of business," but that there's nothing that Gores shouldn't have already known, and nothing that constitutes a breach of that original agreement.