GFY. Soon 100% of the market will be owned by 1 guy if the trend continues. Wait til the stock drops then offer a price. If anything sell it to a foreign company preferably China. The Delaware con scheme, the 51% vote, GCI why not go to Michael Dells house and play checkers.
There are about 40% less companies as in 1973. Private equity is raiding capitalism.
They are trying to take companies down via bankruptcy. Golden Gate and Sycamore are spawn of Bain capital private equity. Private equity is just another name for corporate raiding.
But don't they need a vote of shareholders to do this? The company is not in bankruptcy yet, they have plenty of cash and Walsh says cash flow positive. The debt payments don't come due til early 2017. We should have time to look for a better deal, or allow a better deal be offered. If we are getting nothing, all votes should be "NO". For a company that can put out 200MM in free cash flow. We should be able to get a better deal than $0
Why not vote no, maybe a better deal can come from an outside company. Maybe Berkshire would buy it for $610 million.
I now have 70,000K They are not bankrupt. If we could kick out everyone from Sycamore from the board and their hand picked goons, maybe it can turn around. They announced a lot of store closing and cuts. They identified a Sycamore supplier delaying product. Possibly a pony dance. Has a chance to turn it around. Maybe we get a few dollars thrown at us in a prepackaged or maybe the management will stop lying and start working.
Sycamore did buy out a company that said they were looking for strategic alternatives before, they actaaully paid money that trying to take it via bankruptcy. Where is the SEC?
Better be because Sycamore Partners trying to do what PSUN is doing is making me sick. Acquiring companies via bankruptcy so you don't have to pay shareholders anything. These private equity firms deserve 20 years in prison.
But those are all projections. Also on their website it looks they are now giving away digital for free. Didn't someone say the old digital sales were really lies as part of the package they included digital and that customers really didn't want it. you put out projections as they were some type of facts. The problem is in 1 year they are going to hit the date when debt comes due.
Also add back in .5 million and .75 million for the top 2 executives salary. It is not hard to do finance, many pink sheet stocks have beautiful financials with 2 million in revenue.
Trump entertainment, Alpha Natural Resources, and American Apparel could not even meet the interest payment. The 1st number is operating cash flow plus depreciation, the 2nd number is debt payment and the 3rd cash.
2015Q3 105 88 192
2015Q2 145 87 191
2015Q1 132 85 171
2014Q4 129 87 171
2014Q3 136 89 145
2014Q2 166 90 146
2014Q1 168 90 179
2013Q1 108 43 139
2012Q3 131 47 96
2012Q2 141 48 83
2012Q1 148 57 115
2011Q3 142 55 195
2011Q2 155 58 257
2010Q1 -2 11 60
2009Q3 30 39 75
2009Q2 10 39 65
2015Q12 -61 72
2015Q3 -9 10 7
Debt dropped from 2.597 billion to 1.965 billion in a year and a half at Dex One. I have a theory that many of these companies have no intention of being profitable, they are owned by the debt holders.
Look at all the pollution these electronic devices cause. Then the kids want a new device every 2 years.
I don't believe they use to have any long-term debt. They now have $1.2 billion in inventory. Next quarter is the big quarter.
Even people who bought at $40 are losing out. They would never buy if they did not believe this was worth $300. Thus, anything less than $300 is screwing the longs.