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Rite Aid Corporation Message Board

  • scotty410 scotty410 Nov 14, 2011 2:35 PM Flag

    Philadelphia...management

    I have actually been reading the SEC filings and annual reports for several years now...particularly the footnotes.

    To generate a tax loss, in accordance with Generally and Required Accounting Rules, Priciples, and other required bull crap, and even after acquiring...Eckard...Goodwill, RAD wrote of $2,000,000,000, I say two billion dollars of Goodwill. Losses for tax planning...ahem, purposes...every year for 5 years...now has many years to use those to offset taxes for 5 or 10 years in the future...this was just one example of the many tax loss items RAD listed over the last 5 years.

    Was it just about 2 years ago, at 22 cents and then to 2.67 a couple of years ago...then back to 70 cents, now 1.38, last week. About 5 years ago, the ballyhoo cramer, said buy, buy, buy at 6.70... After buying Eckards...economy killed store sales and was left with big debt f rom acquisition...duplicate management, supply systems and old stuff and twice as many poor stores and duplicate locations. Not until it was under $2.00 did cramer say, "I am pulling the plug on RAD."

    Then RAD got some credit suppport re fi... consolidated operations...

    GNow huge tax writeoffs...it can't not make a profit...no taxes to pay, no underperformings, duplicates gone, warehouses consolidated and selling groceries, shots, and cigarettes to minors...

    I predict next, and second chartest's move, 4.37 area. Then will be a third move down and even higher again...then I retire to island in the South Pacific...

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RAD
7.98-0.19(-2.33%)Feb 27 4:02 PMEST

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