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EnviroStar, Inc. Message Board

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  • jimgray30 jimgray30 Nov 14, 2012 5:32 PM Flag

    Seeking Alpha

    Looks like the opposite happened today with another SA article which pushed up the price. I agree with this one.

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    • True. Let's just hope Steiner has all shareholders best interests in mind as we go forward.

      What still sticks in my mind with disgust is four years ago when Steiner tried to steal the company from us for 85 cents/share...little more than cash value at the time, a total of only $2.55 million for the 3 million shares he didn't own, which was less than the $4.26 million cash on the books at the time.

      If I were to play devil's advocate, I could see the 60 cent/share special dividend as a mechanism for Steiner to get some cash on his shares, knock the share price down 60 cents/share, and then again try to make a play for the 3 million shares he doesn't own at a reduced price - but because he sucked 60 cents/share out of the company and lowered the share price, it would be easier for him to offer a low tender price, and he has enough cash to do it out of his pocket. However, seeing how the stock is now being bid up, if that was his plan, it may be backfiring as a result.

      Anyhow, assuming this is all on the up-and-up, our patience is beginning to pay off, and the SA article makes some good points...though we both knew this was a good company/investment long before this SA author did.

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