When is management going to realize that this idea of rolling up over-priced, underperforming companies does not excite investors anymore. Who cares that prices are dropping to 5x EBITDA,its too late!!You blew it!!Middelstadt should resign or take your golden parachutes and dump this thing into the lap of a company that has the ability to actually make investors some money. Oh, that's right..you clowns out there in CA. did make some money...for yourselves when the stock was at its peak!!
you say something completely stupid. This time you�ve really topped yourself.
EBITDA is a better number to evaluate than earnings. Earnings is a book number, or as you put it, a BS number. Remember, EBITDA is a proxy for operating cash flow, something intelligent investors scrutinize carefully. Earnings can be managed (i.e. manipulated). 5X EBITDA is not bad � essentially a 20% capitalization rate.
If you stick to comments on broad strategy and non-quantitative stuff, your ramblings are not half bad. But every time you delve into financial matters, you make absolutely no sense. My recommendation would be to enroll in a finance class at your local JC before commenting on numbers again.
You have know idea what the profit margins on these companies are. If you did you would be investing in this company instead of bashing its stock. Do you really think that banks would let Waste Connections spend borrowed money on a losing deal. WMI screwed up, they did bad things. That does not mean that all garbage companies do the same thing and make the same mistakes. Read the numbers. Is Waste Connections making a profit? Will they be making a profit in 3 years? Do the lenders think they will? Of course, otherwise they wouldn't lend them the money. Plain and simple. Garbage is not going away. The margins are not shrinking, especialy when you own the landfill, the transfer stations and the hauling company. Give it up Dexter. No one is listening to you any longer. Cover your short and get out.