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PENN OCTANE CP Message Board

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  • cbr954wrecker cbr954wrecker Oct 6, 2004 10:08 PM Flag

    They better explain things clearly Thur

    I'm just sorry I ever got involved in a company that is so shady. There should be laws against this sort of mismanagement to protect the little guys out there.

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    • Yes indeed, but don't look past the BoD that rubber stamps these crooked deals. As is usually the case, these con types can only keep up the game so long, they get so busy shoveling company cash into their own pockets, that they forget that they need to actually run the business and generate cash to keep it will catch up with them, but it will be the shareholders who pay the price. The MLP idea is fantastic but their capital base is to small to make it work in my opinion, how can they afford the costs of being two public companies? I follow alot of companies and to me it seems that the double overhead will eat up to much of the bottom line, although the tax benefits may offset some of it, if they were a 200 million dollar market cap, the costs would not be so disproportionate in comparison to the cash flow but we are talking about 2 companies with a combined market cap of less than 50 million or somewhere in that neighborhood. I just don't see it happeing...maybe I am pessimistic but when you combine a poor business with corrupt management I don't expect anything great.