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Stonemor Partners LP Message Board

  • traveler1952 traveler1952 Jan 5, 2012 3:20 PM Flag

    "This I remember "

    The fellow old timers within the deathcare industry may remember reading Jerome Burke's regular article of nostalgia from the Dodge magazine.

    In view of the recent drubbing (s) that Stonemor has experienced, I thought it appropriate to share a remembrance from yesteryear. The date was January 25,1999. All appeared normal on that rather chilly winter morning. The casket bearers, 3 grandsons and 3 granddaughters placed memere's casket upon the bier in the narthex, Father greeted the mourners and blessed the decedent and we processed to the alter for the commencement of mass. As I bowed, that silly old pager vibrated. Of course I responded with a call to the office. The voice on the other end franticly informed me that our corporate parent's share price had just sh_t the bed...

    This, I remember! So, you may ask, what's that got to do with Stonemor? Well, SCI was that great acquisition focused behemoth that was attempting to globalize American deathcare and had amassed a portfolio of locations approaching 5000. Yes 5 thousand. In less than 3 weeks, 13 years will have passed since SCI's fateful plunge. Today the share price is less than a third of what it was on January 24,1999.
    The other's Stewart Enterprises and Carriage Services are trading roughly at 25% of their closing price of January 1999.

    Ever hear the saying "whistling past the graveyard"? Maybe in 25 years some may ask, what's a graveyard ?

    I know,I know, you're thinking Stonemor is different, it's an MLP. Well, to that I reply, STON is NOT immune to the rapidly changing face of the American way of death.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The way "America faces death," is not changing rapidly enough to affect the price of STON in the medium term, if at all. I'm 54 and I'll take my chances that I will be dead before it changes my income from this Co.

    • "The other's Stewart Enterprises and Carriage Services are trading roughly at 25% of their closing price of January 1999."

      So are a lot of dotcoms, the ones that survived. The overall stock market was highly inflated in the late 1990's.

      • 1 Reply to GiorgioLB
      • "So are a lot of dotcoms, the ones that survived. The overall stock market was highly inflated in the, and they are late 1990's."

        You're funny, Georgio. The comparison of heritage brick and mortar businesses to hatchling companies of which very few survived from the neonatal unit is laughable.

        The money that got Stonemor going has left the building, and gone on to greener pastures. Hellman, McCown, etal go where there is greatest capital opportunity. STON was a great place for them to make sum good money, which they did. I'm fond of old sayings, so I'll drop another one - "follow the money".
        Where did it go ? It went to AMID and OXF.

        Investors fell out of love with once perceived darlings SCI, STEI and CSV for good reason and STON may be approaching the cycle point where it is soon to join their peer group.

        Some trivia for you and others, SCI was once a member of the S&P 500. It was replaced by the former airline reservation system company spin-off of (AMR). (dying parent of American Airlines) There was a mutual fund known as Pauze Tombstone Fund, (now deceased) that invested only in deathcare stocks.

        It may not be this February that STON's distribution drops, but I'm on record now predicting that it will. BTW, there won't be a lot of shorts covering bcuz short interest more than halved between 11/30 and 12/15. They made their money, will you?

    • But, are people going to live forever.Wont there always be a need for the services ston provides?

      • 1 Reply to bamajoe20715
      • Why haven't SCI,STEI and CSV recovered from the fall of 13 years ago ? It's because the buyers of deathcare services and merchandise have become much more selective, and aren't buying what they are selling. This is not a new phenomona related to the economy, it's been going on for years. The forecast drop in the number of deaths due to lower birthrate from the "Great Depression" (the old one) is over. The number of deaths will start to rise significantly. However, the number of people choosing only the most basic of services will at BEST/WORST erode the bottom line of deathcare providers.

        The direct cremation in a cardboard box will eventually become the most commonly selected arrangement. No casket, no vault, no urn, no urn vault, no cemetery/columbarium space, no encryptment/interment fees, no adition to endowment/perpetual care funds, and there is no need for the mortuary, 'cause there will be no embalming, no wake, no funeral, no limo, and Please omit flowers. We're seeing more and more death notice/obits stating; services will be private (commonly used fancy wording for direct cremation), service of remembrance will be held at the Elks lodge, please join the family for a spaghetti feed in Joe's honor at the American Legion, at Jane's request there will be no services, and etc,etc... None of those require any cemetery/mortuary assistance or usage.

        Read the obits/death notices.. Once not too long ago, 2 of 15 in my local paper had calling hours and a funeral. Even the bible belt states report cremation rates over 10% starting in 2009. While deathcare, like real estate are local, more and more people are exercising the choice to avoid the non-essential offerings of cemeterians/funeral directors.

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