If this economy don't get better soon we will be in another depression. I feel the so called $700 billion bail out package is a joke. Where will all the money come from and who will manage all of it? The traffic at all restaurants and retailers are really slowing down with a lot of inflation. Anyway I sure hope there is a lite at the end of the tunnel soon and not another train coming.
Good Chicken (or perhaps Rooster), I haven't chatted nor watched this board in a while. I still eat at the local and on the road Bob Evans--OK food for an honest price. But you are right. It is a tough business--labor, food cost and the the economy, not to discount fierce competition. I'm not into buying into this significant share price drop, but I assume the $16 price can be sustained? I sold a few years ago @ $26.50--just before it went to $34!!!
But just an observation: we always banked on the equity side of Bob Evans to be more than stated on the books because of the real estate holdings owned listed at COST. But today the land and restaurants at the choice sites may not be all that valuable? At least not wildly appreciated over and above the purchase and improvement costs?
Like the good guru said: "Control your expenses, own your home (at least have a reasonably priced house and good financing), and keep the day job." Then you can sleep at night and eat a few pancakes and sausage at Bob/E now and again!! Happy Thanksgiving!
I forget my exact sale price, but seems like you and I walked the same path. I got out right around the mimi's acq, thinking that the pressures surrounding the acq would make the price drop (like what happens with many acqs)
I never knew you were from pt clinton!
Back to the stock, yep, I think you're right about the value of the real estate. I think most real estate values have declined, but I'm also willing to bet that the properties are still worth much more than they were purchased for, at least the BOBE properties.
I'll watch for a while and see what kind of entry comes along....waiting for a copy of the most recent 10k and other stuff from IR. I'm sure it's a different company now (and just from looking at the yahoo stats, I see they've got a lot of debt these days!)