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Tandy Brands Accessories, Inc. Message Board

  • nmoil nmoil Oct 29, 2013 12:17 PM Flag

    Just, fwiw, but read EVERY word we can find to read

    and roll it into decision making.

    Fresh 10K/A up. Just the quick read, rod was doing OK. Very few Americans get paid $800,000 a year, or so.

    List of 5% holders, I'd missed some of those, somehow. I wonder about what became of Richard Liu, apparent his shares, 10%, went to a Mr. Chiang?

    This ammended 10K is a nice read, nothing like the 150 page short-leash-loan-agreement.

    There are big-boys here who care.

    Company specific info + Macro econ + Market behavior (experience, interpretation) = Decisions

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    • These ownership numbers provided by tandy are old. most from are 10 months old from filings on 2/13 and in Chaing chih chaiang case the filing is from April 19, 2012.

      Also,

      Includes 75,128 shares held of record and 133,684 shares held by Golconda Capital Portfolio, L.P. Mr. Summitt is the Managing Member of Golconda Capital Management, LLC, the general partner of Golconda Capital Portfolio, L.P.

      If I operated a capital management fund and was on the board of directors of the company like he is then I would be embarrassed to own so few shares. This guy has very little stake in the game. He has likely made more money from the salary he received from being on the board (43k a year) then he has invested in the company. It's jokers like this that have caused the company to end up where it is today. A completely useless director. Mr Summit you should be ashamed of yourself as an investor and business person.

      • 1 Reply to jtmaimi
      • Summitt did a proxy battle thing a few years back, the details of which I did not fully follow or understand. As far as I could tell, he was unrelated to management, had relatively few shares, and was able to achieve a seat on the bod. He was somewhat partnered with a guy from up in SantaFe, can't recall his name now, but it was all public record. ps-as far as I can tell our relationship with walmart is intact, Faded Glory is our private label product. The latest numbers seem to support this belief. poster hinting otherwise is hopefully buy-side.

    • Globis capital partners??Globis Capital Partners is a Japanese venture capital firm... Maybe they are not required to report to sec and that is why they are not on any of the institutional ownership lists for tandy.

      Also,

      Chiang Chih-Chiang 719,105 shares 10.04 % ownership

      During fiscal 2013 and 2012, we purchased $3.4 million and $4.3 million, respectively of accessories inventory from an entity affiliated with Chiang Chih-Chiang, a passive shareholder of the Company. At June 30, 2013 and 2012, the amount due to the passive shareholder for inventory purchases was $922,000 and $290,000, respectively. These amounts were included in the accounts payable line on the consolidated balance sheets contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2013. Although it is likely that we will continue our purchasing relationship with this existing shareholder, we believe there are numerous sources of products available at similar terms and conditions, and we do not believe the success of our operations is dependent on this or any one or more of our present suppliers.

 
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