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Lee Enterprises, Incorporated Message Board

  • clockwinder clockwinder Dec 3, 2012 10:39 AM Flag

    Schermer Investment Partnership dissolution


    a telling development..... (filing at SEC website)

    This topic is deleted.
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    • aksarben2 Dec 21, 2012 7:45 PM Flag

      Folks, why would the Schermers sell their shares right now at a greatly depressed price? If they wanted to sell, they could just wait a few years and, if the stock price is still depressed, get 4 or 5 dollars a share from Berkshire Hathaway. Heck, Berkshire would probably pay that amount RIGHT NOW if they could get the whole company for that (but I think they're enjoying getting the fat 15% interest for now, which gives them all the profit benefits of ownership without having to fork over more cash or assume much debt).

      Now, I personally would not like to see an acquisition by Berkshire, because I think that once Lee is debt-free it will be worth a billion dollars (which means 20 bucks a share or more), and I'm willing to wait a decade for that to happen. But since a lot of you want a quick lottery ticket-like liquidity event from a Buffett buyout (which would probably be only 4 or 5 dollars a share), you should be rooting for the Schermer family to want to sell.

      But anyway, they're smart people, and there's no way in heck they'd sell at barely over a dollar a share into a depressed open market.

      In conclusion, relax and don't worry.

    • Well, what does it tell you?

1.92-0.01(-0.52%)Jul 25 4:02 PMEDT