<<Unfortunately, I have to agree. After hearing the conf. call,It seems they are 0 for 3 in pulling off any kind of deals in the past few years.>>
I just listened to the call as well, twice. I had a real hard time trying to pull out any meaningful information. Lots of generalizations, and "feel good" stuff, but no real specifics, even when Tom Sr. was specifically challenged during the Q&A session.
The whole exchange about the Canadian business was kind of Keystone Kops - 'what are you doing...', 'we never said we're doing anything...', ' well, we are doing things....', 'well, there are tax implications....' (my impressions - not exact quotes) If I didn't have so much invested it would have been laughable....
Then, when he was challenged about management compensation, Tom Sr. responded by saying that there are contracts, and how difficult they are to renegotiate. Why? Renegotiate with whom? Those employment contracts are between the company and the senior management. If they can't renegotiate with themselves then who can they negotiate with? They are only difficult to renegotiate if the employee does't want to play. If that's the case, then why didn't he just come out and say it directly? I think Bella's previous comments are right on target.
The net/net impression that I came away with was that the operational guys are doing a good job of running the business, but the senior management seems to be consistently dropping the ball. Perhaps it's time for a game of musical chairs.
Thanks for post I agree! For some reason I could not find link live for conversation. Not being a savy account can anyone help me with these questions? 1-Will work pay any taxes this last quarter? 2-If they meet future earnings forcasts, when will they start paying taxes? Will we have to wait more than 6 months?
I missed the conference call. I'll try to listen to it this weekend, but can you tell me how they intend to pay for their current liabilities? The current ratio is inverse to what it should be. Are they planning to borrow?