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Wolverine World Wide Inc. Message Board

  • Fork_Stuck_IN_Head Fork_Stuck_IN_Head Apr 30, 1999 1:39 PM Flag

    HA HA HA HA!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    WWW is still falling like a lead rock. I got 12 1/8 for my stock and you are losing your asses. HA HA HA HA!!!!!!!!!!!!!!!

    Fuck you all.

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    • I apologize if some version of this message comes
      up twice but my previous post didn't appear to show
      up.
      Responding to the question of share value for an aquisition
      of WWW, any price would be based off some multiple
      of projected EBITDA (determining that multiple is
      the art of the deal). This multiple is further
      supported by the brand/product/market share/technology
      which an acquired company brings. In my analysis, a
      sale would fetch a price of $17 - $18/share. IMO a
      sale is probable due to the flat financial results,
      strong brand and customer loyalty, and weak management
      with a limited amount of stock ownership. If you are
      waiting for $30/share again, my belief is that it will
      not get there. Of course, you may get equivalent
      value from appreciating shares in an acquiring company.
      At say $17/share, you recieve a 45% gain from todays
      price. Recognizing that it is not .com type returns,
      even if you must wait two years it is pretty
      respectable, especially given the minimal downside risk. The
      price I stated above would still be fair value even if
      we see the stock at below $10 again. So long as
      management continues to plod along it is only a matter of
      time before someone else comes in to do it
      better.
      Could the company remain independent? Of course, but
      they would have to reinvent themselves and do things
      that have been mentioned on this board such as
      internet commerce and better advertising. The real
      question is whether they are capable/disposed to do so.

      • 3 Replies to Have_My_Doubts
      • if you want a low risk trade, that will preform
        as well as most funds, www is it. purchasing this
        stock anywhere under the teens is a good investment,not
        to say that you will never be behind, but www aint
        going nowhere. myself i got in at 10.50 and out at
        12.60 and have plans of re-entering at around 10.75 and
        this time i will hold some shares past the 15
        mark.....that is, IF I am able to re-enter around the 10-11
        range. I also believe that www stands a great risk of
        being bought out. I say risk, that may be what most
        investors want, but mang. is taking a great risk by letting
        stock prices lay here like this. a buyout would
        probable mean mang. jobs where gone. there where some
        rumors that stride-rite had some intrest but only time
        will tell. i say get long and forget it. the nice
        thing about www is that the market shouldnt effect it
        much its on bottem already so get long and dont worry
        when you hear that the dow is down 400 it dont effect
        us.......good luck all......both sides shorts and longs.

      • Why the heck would it take two years for somebody
        to come along with an acceptable offer for WWW? The
        industry hit bottom last year; I would think now is the
        time when an offer would be made.

        If
        management is so weak, how would they last another two
        years? Well, I guess they could, considering that
        analysts are not interested in this company, small
        shareholders are passive, and the board of directors appear to
        be around just to collect their hefty
        fees.

        OK, let's try to be constructive. Would the acquirer
        likely be another shoe company? Which of the companies
        have shown any tendency to innovate and adapt to
        e-commerce and the Internet?

        Or perhaps a specialty
        retailer might like to acquire the brand. Or even a
        catalog company such as Eddie Bauer, Lands End, LLBean.
        I'm just throwing out names. Somebody help me.

      • What the heck happened?

        Fork, I hope WWW rockets to $20 a share without you and then we will be making fun of you.

    • Please do not go! We love you very much! Mr. Fuck
      Stuck In Head add lively commentary very helpful to
      Wolverine World Wide investor.

      Please stay so we may
      continue to enjoy your amusing notation!

 
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