Every negative piece of news is currently priced into PZB, investors are frustrated, high turnover among management, etc...this investment is somewhat frustrating now but I'm going to hold. I received my shares based on the conversion out of PZX which I bought at 6 1/2. Rather than pay high taxes I'll sit it out and hold for the additional 10-50% returns for 2000 and get my gains in the 20% tax bracket. PZB is in a similar position to CPQ when it was at $18-$20. I expect similar returns when there is more evidence of a turnaround.
Other posters (I assume who held PZX) have thrown around the names of some air cargo stocks. I'm convinced that there is a chance to hit a double with Atlas Air Cargo (CGO). Chack it out, it is a fast growing international carrier which is valued very reasonably and would also be an attractive take-over target for a big name like UPS, FDX, or GE.