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Dixon Ticonderoga Company (DXT) Message Board

  • pmcmurrell pmcmurrell Mar 7, 2002 2:48 PM Flag

    DXT Tender Offer for Enron / Pencils

    Well, DXT seems to have the opposite problem to Enron. The price of Enron was based on faith in management. Real assets were low, but there are some (like windmills and pipelines). But,
    DXT has the opposite problem, which is that stockholders are concerned that Gino et al are more interested in their own paychecks than in the fiduciary duties of management. The stockholders should get options to tender their stock to Gino at book value! Anyway, the reason that DXT sells for low value is the DEBT and the poor faith in management. Book value is over $6, but stockholders feel that Gino et al will somehow waste that book value - before this company liquidates. Could be true.

    Solution: Make a tender offer for 50% of Enron by offering 3 boxes of pencils for each Enron share. Also, Enron stockholders get an option to buy more pencils at 10% above cost. Then, Enron employees (who lose their jobs) can sell pencils on the streets!

    Incidentally, met a guy at a yard sale. He was a teacher and selling NEW PENCILS bigtime. Yeah, the guy had stolen humongous pencils. Part of where my property taxes are going - to supply him with pencils for yard sales. His school must have bought them at OSCO, which is what it says on the yellow pencil.

    I imagine that Hallmark is "PENCIL" and "CRAYON" dumping. Looks like there are too many damned pencils in the world. I have enough for several LIFETIMES. But, then, students can be counted upon to LOSE PENCILS.

 

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