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PCC Message Board

  • brilliant_analyst brilliant_analyst Jan 6, 2010 9:56 AM Flag

    Tooley was right all along

    Tooley had it right from the getgo.
    PCC stuck at $7.50 and soon headed down while REIT's are all recovering. Institutions clearly selling off. Reasons are clear. New loan agreement, based on LIBOR, clearly favors lender. Point well taken that "customer" base of PCC consists of run down flop joints trying to compete with name brands who have been aggressive in cutting prices. Many are in deep doo doo and PCC will soon have to run these places, albeit at a loss. Property values now are far lower than when appraised a few years ago.
    I guess that's what happens when a company is run by and for the benefit of egotistical families with vested personal interests. Just hand pick relatives and friends for the B of D and compensate them to nod yes to everything.