I'll take a stab at this. My first buy in APU was back in mid 98 at 24. Over the next two years, I bought more at much lower prices. Considering that APU has gotten much bigger and has smaller and weaker competitors compared to those of 1998, the company is naturally worth much more. I never thought I would ever see a price below $29 again.
One big however! Amerigas, like a utility, does do a lot of borrowing. Long term and short term. Amerigas might be having trouble getting its short term money needs taken care of. This has nothing to do with the company's management or balance sheet situation. It has to do with the freeze up in the commercial paper market. It would be interesting to hear the company discuss this. If I'm right, when we get this commercial paper mess cleaned up, you'll see APU come back.