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Tuesday Morning Corporation Message Board

  • longtimefollower longtimefollower Mar 4, 2009 2:00 PM Flag

    INSANE market.

    I just bought more at .741 today.

    $32 million market cap, $160 million in net current assets. Selling for EXACTLY 20% of net current assets. Company is debt free. Tangible book is $5.54 per share. Price/sales is .04. Ent. Val./REV is .04. Ent. Val./EBITDA is 1.86. It just goes on and on.

    This is just CRAZY!! CRAZY!!!!!

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    • Totally and completely agree. I've also been in Mike's presence along with a number of other executives. Thankfully, I'm no longer involved. The VP/Standards, in particulary, is an idiot.

      In the past year, I've watched the Regions be cut up and repasted. What a damned mess.

      I am extremely grateful for the opportunity to exit when I did. What a great big damned mess.

    • Thinks change-(stocks tank) when those who might be interested in buying the stock no longer have FAITH in those that are running the ship. Or the business model that the company is running. Past performance in this case is a non-factor-things have changed. The world has changed. The current management has not kept up and the stockholdeers have no faith in their ability to right the ship.

      They can't cut costs..the stores are already running at a bare minimum of labor-really the only cost they CAN CUT. So next you layoff a few ...or twenty..or a hundred people in the home office. Or you expand each regional manager's area from 8-12 stores to 16-20. And eliminate 20 regional managers at 65 K a piece.

      And what does that do but stave off the inevitable decline in sales...in profits..and in quality personnel that even want to work for TM.

      Kathleen Mason and Mikey have taken the company from $35 a share to its current status. There was no back up plan...no foresight.....no way out. Just a decline that is not going to stop. Retail is a multi faceted animal. TM had a niche, that is woefully unprepared for the current situation-people will NOT spend the bucks, even discounted bucks for the items TM sells-they are discretionary. So all the past history from the BOOM years is irrelevant.

      And take it from some one who has sat in on staff meetings with Mike Marchetti-he isn't the person you want steering a new course for TM.

 
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