Just to the bitter end these guys are in denial. How long ago was it that they transferred races from Memphis to Gateway and Nashville? So they just are incapable of admitting mistakes here..they will always place blame somewhere else. When they comment that they are compared to other large operators like ISCA in an unfair way what they are really doing is putting up excuses for their own inability and the impossibility for them to perform independently. The economy if forcing their hand. Pretty soon if they don't sell they will be in a much worse bargaining position. How can they possibly justify the overhead now for TWO tracks??. This has just been a disaster for the Rollins family. It is going to be interesting to see how long they let this continue. Nashville is next. Total write down and closure of the midwest tracks by this time next year i'm guessing. The next thing to watch for is more insider buying in the next week or two after the quiet periods before and after the earnings report expire. Tippie and others to a lesser extent have been buyers at these prices in previous periods.
You know, everyone blames Tippie and the board for all the problems and money issues. They should the burden most of the guilt. But the daily management team at Dover makes many of the day to day decisions and their ideas often are big losers, costing the company and shareholders. Many of them have become egotistical and power hungry, forcing ideas into play even when history proves they won't work. They never worked for the company when there wasn't money to spend. It is unfortunate that there is so little oversight.