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Dover Motorsports Inc. Message Board

  • slim_niceguy slim_niceguy Oct 10, 2010 8:30 PM Flag

    A SIMPLE PLAN

    When you don't believe minority holders have any rights this is how you act as a management team. This is an easy way to get around bank covenants and also buy in an asset at a bargain price. This little stratagem solves the problem of not being able to pay dividends also because management and the Rollins' will just receive more DDE dividends. Of course there will be more cash since two of the three mid west tracks are not closed. Not to mention the 5-10 million in debt repayment from their sale that probably would allow dividends to restart on DVD without a merger. How crafty are this management team? I'd suggest that they actually SCORN the public holders as a group that are just paper pushers-just profiteers. Forget the fact that the shares are in lots of mutual funds that fund IRA's etc. If an offer comes along and they find a reason to reject it because it "Isn't in the best interest of shareholders- they will lose in court. There are too many previous sales and derivative suit precedents for it to work out otherwise.

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