I would not be surprised now, with the prolonged
nature of the GM strike, with the slowdown in RII's
earnings, and with the overall disdain for roll-ups, stock
deals, and the like that this stock sees $12 or $15
before it ever sees $25 again. Investors punish stocks
like this when the market turns over. These companies,
such as RII, are built on the issuance of stock, the
purchase of earnings, and are thus financial card games.
When the game ends, the cards fall in.
PAW, ESA, and others.
I take a short weekend getaway and come home to
this mess....horrible.....no thanks to any of you for
giving me the earnings info....oh well now I am
poor.......if you wanna recoup these losses take a look at
CMGI, a real winner amongst intenet stocks...currently
on a dip from 90 down to 67...own like 24 intenet
companies including 30% Lycos, 35% Geocities (IPO AUg. 11),
and they just today sold a company (Planetall) to
AMazon for 225,000 shares of stock, as well as a company
(reel.com) last week to Hollywood video for a ton of that
stock. 8 more IPO due over next 18 months, use this dip
Do you listen to the conference calls? Management
did lie. They insisted that the waste IPO would not
hurt earnings. Period. Now, they say it will. That is
a lie, or that is bad advice.
There are many
other examples of this kind of thing.
won't admit that the roll-up game and Wayne's own
credibility are hurting them now.
You make some good points, but most shareholders
won't be around for decades. Who knows what will happen
in decades? Nevertheless, management made many
misleading statements to shareholders. Just the fact that
management insisted that the waste IPO would not impact
earnings to then say yesterday that it would is an arrant
falsehood. This kind of thing will punish the stock
Size is merely the means to an end, not an end in
itself. A large number of quite shrewd entrepreneurs
either sold out, or bought into - depending on your
perspective, RII's business proposition. They did so because
they recognized the competitive opportunities which
being "big" afforded to WHOMEVER could achieve it first
in their highly fragmented (and enormously
inefficient) industry. Those opportunities haven't - and won't
- disappear. Despite the numerous distinctives of
auto retailing, economic fundamentals still apply.
Economies of scale WILL prove an enormous competitive
advantage. Wal-Mart, Home Depot and many other firms (yes,
including Blockbuster) have proven this - to the great
misfortune of their smaller competitors. This game is in its
early innings. If it can execute its business plan
(however imperfectly), RII has growth opportunities that
could take decades to fully exploit.
Yes GRVO..sell, you should have a long time ago
when you started biching 4 months back..listen to your
gut feeling and shut the hell up!..as for you
Krispy/butt kisser...I see you sucking up to people on this
board now, but awhile back I remember you slaming and
cursing everyone...others might have forgotten, but I
haven't. I will be your thorn forever!! PS...get off your
high horse and quit thinking I'm Eddy or anyone
else...is it that hard to believe you have more than one
person who thinks your full of crap!!!