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TravelCenters of America LLC Message Board

  • mkt_long82 mkt_long82 Feb 26, 2013 11:20 AM Flag

    TA - CWH sued by Icahn's right hand man

    For all of you who don't know or understand the relationship between TA, HPT and RMR I suggest you read up on what just happened with CWH.

    Barry Portnoy is about to get his #$%$ handed to him and all if his commingled companies are getting ready to fly.

    I would be very long TA and anyone shorting here is truly playing with fire....CWH up nearly 40 percent intraday today.

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    • Can you provid details? I'm looking and RMR is an Asia Pac. Mut. Fund (REIT), not sure I get the connection. TA i know is 1/2 owned by HPT, but CWH? Not sure of the connection there either. The asset gathering for CWH was in NEW shares not private funding. I guess I'm lost in this conversation, and need more details. I AM LONG, but not for anything you're taking about here.

      Sentiment: Strong Buy

      • 1 Reply to augidog8407
      • RMR (REIT Management Research)is a private company run by Barry Portnoy and his son Adam. HPT, CWH, SNH, GOV are all REITS connected to Portnoy - He is a director at all of the companies and one of the largest individual shareholders.

        To make a long story short Portnoy gets the REITS and their affiliated companies (TA, FVE etc.) to hire RMR and pay him property management fee's. Considering he's on the board of both companies there is a conflict of interest that keeps getting ignored. The CWH lawsuit is bringing light to this situation.

    • Pretty funny that they complain about CWH's "asset gathering strategy" that benefits RMR but not shareholders.

      Same could be said for TA's "asset gathering strategy". RMR's mgmt fee is based on revenue, not income. All these new locations benefit RMR even if they never earn a cent of profit. Of course, TA's mgmt says they are getting gret deals, and they'd never lie, right?

    • You're right. That is very interesting. Wouldn't it only have an impact on TA if similar shareholder demands were made on behalf of TA shareholders? It would be great if someone made it a priority to unlock TA's value similar to what's happening right now with CWH.

      • 1 Reply to trbruin1
      • It is my belief that if Icahn's former guy is successful in removing the board at CWH it will be open season on RMR and all affiliates - SNH, HPT, FVE, TA etc.

        Everyone knows all these companies trade at strong discounts due to the fear of management , if you remove that cancer we move closer and closer to full value.

        We are already undervalued if you include the Portnoy effect....just imagine what could happen if you remove that cancer altogether. Instead of a 12 dollar could conceivably have a 20 dollar target.

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