I am so glad to see someone post on this board. I check it daily, but I can’t post at work. I am more worried about the outlook going forward than tomorrow’s numbers. I have a bad feeling the utilization rate in Europe is going to start dropping. The lease length is not nearly as long over there.
I am putting more faith in the ASC portion of the company to deliver the goods on the infrastructure play. They will be shipping the necessary products to the steel mills when they start to crank up again. Keep the utilization rate in the U.S. stable and increase the $$ from ASC. They control a huge portion of the U.S. based Great Lakes Shipping.
The company never talked much about the equity investment in PWX and the board seat that came with it. I would like to hear how that is going.
You don't know much about GATX. American Steamship is such a tiny portion of their company they don't really matter. The Rail part of the buisness is the only thing really left....as much was sold off since 2001. They have so much debt because they changed their philosophy from being a diverse company in many business that balanced each other (Very good for institutional investors but not for those that wanted to see the stock move up by leaps & bounds)to one that focused on the parts of the company that would bring in the "biggest dollars" to move the stock up. Unfortunely, everything has changed from 2001. They sold Terminals because "No one wanted to store oil anymore" just move oil. I bet they a kicking themselves now. They changed their minds from owning railcars that became "cash cows" to having groups of investors own these railcars that they manage. It's a long story of how a company was totally mis-managed because the there was "No long term insight" just bring as much money in as possible to make the stock go up as much as possible. I think the present CEO has done a fairly good job as I thought this company would of been nowhere in sight a long time ago. I am surprised they are still around....so they might still have a chance of staying around...Maybe their "vision" has changed...because of what is happening now. I surely hope the best for them.