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American Science & Engineering Inc. Message Board

  • ebitda2k ebitda2k Sep 6, 2007 3:36 PM Flag

    MAGS AND OSIS and ASEI - all good bets

    MAGS is doing well very of late. Thanks Ben. This could be a 5 bagger in 2-3 years. They are making the right acquisitions that will be immediately accretive to earnings.

    Also, I picked up some OSIS yesterday during the selloff. It is looking very good today.

    Homeland security in general are good hedges against recession. Buy top companies: ASEI, OSIS, MAGS.

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    • joining u on osis thsnks for the suggestion

    • 80 % of success in the market is diretly tied to market direction.....asei is trying to become a market leader and will continue to be very market sensitive as are most stocks.... Nice dip in a troubled stock market

    • Didn't Paresi use to run a jewelry store in Burbank.

    • BTW, Joe Paresi, the guy who caused this $125 mil mess and embarassment for L3 has left the company.

    • Nice find ebitda2k...

      Wow! THat was some decison. L-3's former CEO, the late Frank Lanza comes off here as a forth right honorable man who told the truth and did the right thing. While Joe Paresi, President of L3's security biz, came off like a real schmuck. Read this...

      "The jury also heard testimony that at least as early as 2002, Joseph Paresi
      appeared not to share Mr. Lanza?s and Mr. Cambria?s views about the L3 ? OSI
      transaction. Mr. Paresi, the head of L-3?s security systems division, opposed the
      proposed transaction with OSI, apparently detested Mr. Chopra, and was intent on killing
      the part of the deal that had L-3 conveying PEI?s Conventional and Argus systems to
      OSI. Mr. Paresi preferred to keep all of the PEI assets for L-3, or failing that, to sell the
      Conventional and/or Argus assets to a third party, with whom Mr. Paresi had a better
      Notwithstanding several attempts by Messrs. Lanza and Cambria at
      reining Mr. Paresi in, he remained at the head of the deal, since it was his division which
      was going to get the newly acquired PEI assets. Indeed, as Mr. Lanza and Mr. Cambria
      were phased out of the deal by in or about June 2002, and a new negotiator L-3, Ron
      Mandler, was assigned to the matter, Mr. Paresi became the key man on the deal."

      The document goes on to say...

      L-3 also questions whether there is clear and convincing factual support
      for the jury?s determination that punitive damages are appropriate. There was clear and
      convincing evidence to support the jury?s determination that L-3 had engaged in fiduciary
      fraud with malice, oppression, and intentional fraud. Indeed, as pointed out previously,
      the evidence is overwhelming that L-3 induced OSI to allow L-3 to take over the
      negotiations with PEI, while at the same time preventing OSI from negotiating with any
      others to acquire the PEI assets it desired. L-3 placed itself in a superior position, and
      placed OSI in a vulnerable or inferior position. Thereafter, L-3 abused its position by
      withholding information, changing the presentation of significant financial data, trying to
      sell to third parties what OSI was to receive, and other similar conduct.
      After closing the transaction with PEI, L-3 continued its fraudulent
      conduct, falsely inducing OSI to sign an Amended LOI, all the while withholding vital
      information which would have disclosed its true intent: to hold on to all of the recently
      acquired PEI Business assets. Finally, L-3 engaged in a series of negotiations which
      appear to have been solely designed to sabotage the parties? original intention; and at thesame time, camouflage L-3?s exit from an arrangement it no longer desired.
      On this record, there is more than sufficient evidence to support the jury?s
      determination that punitive damages were appropriate.

    • elitecrete is on to something here. Anal-ysts tend not to reward one time gains much, but OSIS could use the proceeds to buy back 1/3 of the outstanding shares and effectively increase eps by 33%.

      Now that would be slick.

      OFten punitive damages awards are reduced on appeal so who knows. The final award may be closer to $85M instead of $125M.

    • I hope you make some $$$ on all three. Be patient.

      I was very surprised by the enormous sell-off in OSIS. Reminded me a little of ASEI August 2006. I think a lot of investors thought the cost cutting would have a greater and sustainable impact. I would normally be tempted to buy OSIS, but I cannot stand Deepak's thickheadedness about breaking off the Security division from the parent company. Rapiscan is a very decent company with some great technology, but poor leadership. If I unload some ASEI in 2007--I expect to, I may consider picking up a small position in OSIS before the end of the year.

      I am much more enthusiastic about MAGS, HBE and ASEI for Homeland security investments. I do not consider RAE a HS stock any longer.

      HBE should file its late 10k, and first 2 10Q's (2007) later this month. They were profitable in the second quarter and the stock is a steal down here.

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