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Frozen Food Express Industries, AŞ Message Board

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  • ron_rj ron_rj Feb 17, 2006 2:43 PM Flag

    Their accountiing cntrls are deficient

    Hi Quantum analyst. I used to lend money to the transportation industry once with Associates of North America and later with some Banks. You pretty much know what your talking about I can tell. I have been in and out on FFEX also but I am concerned at this point. Why I even believed they hired the new CFO to help with an acquisition since he had a background in it. Now I think any of the major players will hold off awhile till things become clearer.

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    • I once lived in Reno - worked for Sierra Pacific - the price has broken above 12 so the longs should breathe a big sigh of relief.

      If it stays there the stock will have been given a big vote of confidence but My money will wait for a big surge up to sort the stock or another trip down (probably below 11.07) where I would get in for a very sort term trade.

      this companyhas every red flag waving that exists in my opinion...insider management, second generation, strange lease arrangements, wierd life insurance policy on the CEO's father(?) I think - why insure a 90 year old man?

      Any way i have been burned in the past by stocks with insider management that was family oriented and not business oriented...was involved back when ANR frieght systems bought up three other carriers and consolidated them in Boulder Colorado - i know this business - and it is much more volatile than this stock's price action would indicate and it is much more likely to be focused on personal relationships - the only reason I can imagine for taking care of the old man with the life insurance policy - just to make a good ole boy statemtn about caring for the oldman i gues.

      anyway, this is not a stock for the faint of heart and it is not behaving as it has for thepast 2-3 years and i think there is greater than a 50/50 chance that the 10-K will be late