I see the sec filing you mention.
You have to
wonder why anyone would pile more
money into this
pos. But picking up over
1/2 million shares aint
Maybe there will be a little bump in
price with just a little speculation about
may be headed.
have you seen Buck under a palm tree in hotel
Tamarindo, spending his money he made on Dole.
I see a
light in the EU chunnel, CQB was offered an increase of
70% on EU import rights, but they want more. Steve is
playing it hard and want more than 100%. He has to
understand that no EU officer will back him.
Give me a break. You think I based my safe haven
statement on one days trading? I was talking about food
stocks in general and CQB has held up well whenever the
recent sell-offs have occurred. I think CQB has bottomed
out and is going to move up from here.
as the analyst's earnings forecast look at
morningstar's earnings estimates on the stock. They are the
best I know of at being current and updating their
info. The estimate was raised before earnings release
but has not been modified downward since.
To take this one days trading
conclude that cqb is a safe haven for
investment $$$ is at best a huge leap in logic.
is a good amount of time to overcome
presented to the cqb management
don't you think?
should have been 1/16 up, not
down. so the spread today was actually bigger than
I still say that it's the upside opportunity cost
that is more important at this point.
if you feel that the stock is goint to 8 by years
end, then best of luck to you.
As for a "safe haven" stock
look what happened today (Wednesday 5/3), dow down 250
and CQB up 1/16 along with many other food stocks.
People gotta eat. "
well, 250 points down from
10,600 is roughly 2.3% decline, 1/16 down from 4 1/8 is
a 1.5% decline. So yes, you did better than the
market on one day of .8%. The risk for you is that the
Dow (made up of 30 nice generally healthy stocks) has
a greater upside potential than CQB does), and
their past performance is better also. I'd also be
willing to say that the balance sheets for the dow 30 are
a tad stronger than CQB's also.
gotta eat. However, they don't have to eat bananas, and
they don't have to pay a premium price for it as long
as their is an over supply in (any) market. Since
the EU is regulated by volume, guess where that
oversupply goes? The US market. Also, the end consumer may
not be too eager to pay a price to cover the
increased costs of fuel and petroleum based raw materials
that are necessary for banana production and
Also, while retailers will continue to stock
bananas, they are reluctant to pay higher prices for them,
and as we come into the summer months there are
plenty of other plentiful products (summer fruits, etc)
to fill the shelves and thus reduce demand for
not picking on you, just discussing the points
you brought up.
Couple of flaws in your
1) you said "Look at other successful companies with
comparable revenues and debt". The debt issue isn't a
current problem, but it is a problem in the near future,
as those maturities aren't due within 12 months.
However, given current cash flow, etc, the principal WILL
be a problem unless something changes. And I'm sure
you meant to say "look at other companies with
comparable revenues and debt that are successful", which
wouldn't imply that CQB was successful with its current
rev and debt.
2) Yes, Tio Carl bought shares
last year, but none of his underlings did. To me that
is a sure sign that nothing is happening anytime
soon. Honestly I think Carl thought he had a resolution
on the EU thing, and thus thought he had an
opportunity. When Steve W. and Bob K. buy in with a boatload
of their hard earned cash, then talk to me about
3) If the stock is such a bargain,
why has their been no stock buy back from the
company. (I know it would look bad with the common
dividend now being suspended, but prior to that???
4) As for the analyst that you mentioned, (I'm not
sure here, so don't take this as gospel) I think that
is McMillan who hasn't wavered on this stock since
it was trading in the mid 30's. As for an updated
earnings estimate in last 60 days, I'm not sure, but I
would be willing to bet that the last recommendation he
made HAD to be before Q1 was announced.
sure Carl prefers to make money rather than lose it.
I'm just not sure he cares about whether YOU make
money or lose it. Therefore, any action he takes will
be for his best interest and not the best interest
of the shareholders. The last 9 years should be good
evidence that there is no active concern for shareholder
value at CQB.
I know you're going to bring up
CQB's debt. I'm well aware of it but not to worry. Look
at other successful companies with comparable
revenues and debt. You'll find CQB is not unique and their
debt is very manageable given "normal" profitable
Another tidbit, uncle Karl bought 1 mil. shares last year
at about $10. He also only paid himself $40,000 in
compensation this past year.
I still think he prefers
making money to losing it.
Are you Costa Rican? I love CR, great place. I
have lots of friends there.
As for the earnings
I quoted, the one analyst that still covers CQB
raised his estimate from 57 cents within the last 60
days to 75 cents for this year and $1.25 for 2001. He
still has a strong buy on our stock. I'm sure you're
very informed and I mean no offense but usually
analysts that follow companies have access to information
we don't. CQB will be between $8 and $10 by year end
and will double again next year unless there is
another major catastrophe.
As for a "safe haven"
stock look what happened today, dow down 250 and CQB up
1/16 along with many other food stocks. People gotta
The only risk to this stock is if they went
bankrupt. Won't happen, $750 mil. in assets and $240 mil.
market cap. The more likely scenario is a
Just my humble opinions.
Let's work on bananas
for skin creams or something. What happened to CQB
idiot, begging for attention, or a certified
idiot in need of a conservator to salvage what might be
left of your prior fortune.
1.2MM at average
$15 is roughtly 80,000 shares (not
there is no way in hell you own that much.
Canned foods is a shrinking category. CQB is
involved in the least profitable segment - private label.
This is a capital intensive, high inventory, low
margin, shrinking category. But compared to their other
businesses, it at least breaks even (for
cqbholder, you are correct. The fact that CQB only earned
$0.43 in Q1 means they will lose money for the year.
The euro is setting record lows every day. Lots of
excuses for Q2 perfomance.
You're right about
capital replacement. And as I have pointed out, CQB is
aggressive in their depreciation schedules for ships and
containers. This could mean write-offs in future years as
this equipment becomes obsolete or has prohibitive
maintenance costs. Lewis/Galindo team are like a couple of
buzzards just waiting for some road kill.