Is anybody going to the shareholder's meeting and ask why they don't refinance the 13,000,000 dollar loan and save the company a million dollars a year or add about a nickel a share to earnings?
I wonder why the meeting is in Florida not in Conneticut where the Bakers run Crystal Rock as they alone own it. They even admit to a conflict of interest in their annual report! Us shareholders are of no concern to the Baker Trust.
Sam, You are fundamentally correct in your assessment of the Baker family interest. While it is preferred to have mgmt share skin in the game. 51% control leaves the rest of us 2nd class baggage. I prefer to look at the technicals. The chart is extremely bullish. For the first time in 3yrs CRVP (former Vermont hldgs) has been able to breakthrough $1 and hold. Albeit on light volume, we also have other reasons for encouragement. The new sales team and focus on growth going into the peak season for water sales. Two yrs ago, the northeast had one of the hottest summers on record. This yr's looking like a repeat. CRVP costs have been lower with nat gas falling. Commodity prices of coffee, and fuel show signs of stabilizing. Consumers seem to be buying more discretionary which will help. The next time we breakout, it will likely be on an earnings surprise or a new customer. The catalysts are present, and we are already up 40% from Oct 2011. crvp has alot of potential and the move could be substantial. What is good for us, is good for the Bakers. I think we are in the second leg of an ABC move.
Chart or no chart, check out the public filings ar crvp, especially, the 13d filings this calendar year, then you'll see why the chart looks as promising as it does. As a matter of fact, I started looking at the archives and found some VERY interesting reading. I would like to do some deep research on the Bakers, I have an idea that if we were to connect the dots correctly the picture that we drew we would be appalled by! I believe that the elder Baker is a very slippery fella.