chfriend03 good work. I'm not sure why you always continue to mix SAC numbers in with AO's. SAC's numbers are on AO's balance sheet because of "control" issue. The fact the Mark Shoen runs the company. If you and I ran SAC the numbers would NOT be on the balance sheet.
My concern is with AO only and that they have $150m in equity over their liabilities. If they do then the preferred is good money.
Here's the simple, meat axe. Forgeting depreciation, appreciation, etc......
From the 10-K:
Total consolidated assets: $3.8B
Total consolidated liabilites: $3.4b
Subtract SAC's assets of $990m gives AO (and subs) assets of $2.81B.
Subtract SAC's liabilities of $1.02b gives AP assets (and subs) total liabilities of $2.38b
or a net worth of $431m for AO and it's subs.
Still the bottom line we own AO and AO is the one that pays my (hopefully) payment so again the balance sheet that counts is the one that owes the bill right? THe balance sheet on page 110. As I see it and have stated.
Anyway take $150m out for BK expenses and $50m for more insurance writes offs. Leaves the net worth down to $200m without consideration for fair value evaluations. That $200m covers my preferred. Where this all leaves the common in the end I'm not sure.
ANyway chfriend03 I enjoy the good banter and hope you do too. I see from your recent work it's made you dig deeper and given you a newer level of confidence. DOn't be afriad of being wrong. I invite people to prove me wrong and encourage it. It's my money and I willing to check my ego at the door inorder to make sure I have this thought out correctly and we all make money. Best of luck to you.....and please cut out the personal attacks, it really lowers your creditability a lot. You have a lot of fans here, don't let them down because you're not clear.
If the U-Haul shops do all the rebuidling, where do you think the parts come from??? I know the mechanics are underpaid, but some shops have ASE Certified excellent mechanics. Are you suggesting that the shops are failing their own engines and transmissions??
FYI...all of the engines and transmissions that Equipment Universe sells to Uhaul have been rebuilt by a Uhaul shop! So if the quality is bad, then go piss up a rope! EU does not gurantee Uhaul's quality craftsmanship for obvious reasons! As far as any Shoen still owning or being part owner...it just ain't true. Jim bailed out 2 years ago to go
Well isn't that interesting. Kind of like the scam with SAC being an independent party. Wonder if the SEC would find this non disclosure of significance?
Here's a question. Why the heck would the Shoen's share any of this Equipment Universe deal with the lowly Richard Brennerman?????? What is it he knows that they want to keep quiet?
The Oregon documents are old news. The real owner of Equipment Universe is a firm called JS & RB, Inc. MO Charter number F00454959, which operates the business known as Equipment Universe.
Now I would believe that Richard Brenneman (A former U-Haul International employee and friend of Joe and Company) is the RB half.
Now just who in the world could the JS half be? Why just could it be James Shoen � The same James Shoen who was reported in prior AMERCO reports as an owner of Equipment Universe?
Clearly you have not read my prior posts or you would not ask such a question. Mr. Myturn is a shill, nothing more and nothing less. He needs to go back to bed.
If in fact he is Joe, that is where I got him out of when serving him with legal documnents, at the Tatum House, arising from one of the many law suits involving SAC and other missdeeds. No one has been able to serve him or Mark for many years. Infact Mark pulled a gun on a Legal Process Server just a few years ago.
Just a observance, but...
I'm wondering if you have anything to offer to refute myturns claims, or you just have the witty offerings of "go to bed"
You seem to show your intelligence by questioning someones use of the term AO, and stating that they are not a "player", (I hope I did quote you correctly) I also wonder why you persist in posting items here, but never offering anything of importance only your oh so funny remarks of "go to bed Joe"
Maybe you should book yourself a gig and go on the road with that one. I am sure you will earn many a laughs with it.
The local newspaper seems to think Richard and Sharon own it.
Equipment Universe is Oregon Registry Number 216286-80.
I didn't ask how many shares, I asked if he (or she) owned any. And just because you don't think something matters, does not mean everyone else shares your view.
I think readers of this board deserve to know the motives behind the bashing done by you and other disgruntled employees like flwinvestor.
If they think what I say is not important they can ignore my posts.
Either way, I will continue to post when I see exagerated half-truths, twisted misleading facts and out and out lies.