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PCC Message Board

  • acricketeer acricketeer Mar 16, 2012 10:37 AM Flag

    Management is Tired, But They're Not in Runoff Mode

    The difficulty is that they can't be very profitable in a low interest rate environment due to the contracting spread. However., they're expanding their SBA business.I think there's a deal on the table and due diligence is taking longer than expected. Perhaps the term sheet has changed with some contingency payouts.Holiday Inn franchises, which comprise the bulk of their business is still doing well and default rate is low. Perhaps we'll get closer to $14. Stock is cheap because you get paid 8% while you wait for the deal to go through. Thsi Company has been public for around 20 years. Enough already.

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