Thank you for that...I for one greatly apprecaite what you had to say. This gives everyone here much more insight about the company and validates many peoples concerns that after the restructure, nothing was going to change.
There are some here that will argue that the economy is still in a sluggish state and once infrastructure spending picks up, or the economy in general, that there will be a significant uptick in the price of this stock.
It seems to me now that the best everyone can expect is either a HUGE comeback of the economy in the next few months (not likely) or a buy-out by another company.
A buy out is unlikely, because the industry of redi-mix concrete is not attractive to publicly held companies. It is a capital intensive, low margin cyclical industry that is dominated by family owned (irrational competitors). This is why most redi-mix companies remain private because public companies will not buy them. The only exceptions are TXI and Florida Rock (now part of Vulcan) as well as MDU through their Knife River subsidiary, own a small amount of Redi-mix capacity. When the public companies own Redi-mix it is because they want a captive customer to sell their aggregates and cement to.
RMIX was a grand experiment in "rolling up" privately held redi-mix producers into a public redi-mix company. It was a failure because after the founding compamnies took stock to start the compamny, subsequent companies demanded a significant amount of cash to sell. Because of the debt load they took on to make acquisitions, they were doomed to fail. Low margin companies in a cyclical business with large debt loads are bankruptcies waiting to happen. That is why I warned the readers of this board in October of 2008 when the finacial crisis occured that this company was almost certain to fail. Absent a fairly quick turnaround in constructin, which I don't believe will happen, this stock is unlikely to move upwards for a long time. The chance of a buy out by a publicly traded company is virually nil. I am sure Harlan is shopping the company now to private equity (as he did unsuccessfully, with me as a participant in 2001) but if he is successful this time I am sure he will use the transaction to screw the stockholders again. I agree with the "sage" redi-mix driver who posted don't buy this stock if you want to make a profit.