I'm still here, man. CTM even named a comic book character after me (look it up). That earnings report was a little flaccid. Ultimately the retail business is in long term decline. There are Vonage , commercials on TV day and night, plus Skype and everything else. So that business ultimately toast. Pretty soon IDT will be paying taxes, so that's another hit to cash flow. $25 is the limit, I think. S Jonas is not up to the task, that goes without saying.
if the point is to loot the company, this is a good start. look at the salaries for management and board. those aren't the salaries you issue if money is tight.
it's great that crain manages to beat his SEPTEMBER 30 guidance. Must have been a really big final day of the quarter. now that the network is built out, both at the agent stations in the US and now the line haul network, the next step is build up volume and efficiency in the US gateways and overseas. That explains three new c/o stations via OTE (DFW, ATL, PHX) and new station overseas in HK. After building up the volume, now is the time for margin expansion.
maybe this is a cheap way to fire people without paying severance. can't be too cynical . . .
this stock has always traded at a large discount to tangible book, so to trade at a premium is a surprise. it only takes one seller to drive the price down. At this point, there must be a buyer looking to take advantage of the tax credits.
the only explanation I can come up with is that there is an acquirer. For instance NAVR is a distributor that could use a nationwide distribution footprint and a sales force to augment it's distribution business. SED is worth more alive than dead, so the only hope at this point is some kind of acquisition.
I don't want to pile on anybody here who lost money. good news is you might still get out. believe me, I've been there. but why would anyone want to own 40% of this company? now he can't get out. there are no buyers out there, he's the last one. he will own 40% of $0. You don't see Kidston or the other board members buying, do you? I bet the old CEO, the BIL, sold all of his shares, probably sold them to Gad. the old family here, what is their name? the wife and the uncle also were consistent sellers. it just costs too much to shut it down, not only break leases but fire employees, pay off the bank line (what are the banks thinking?) and so on. it's just an ugly situation. it's fitting though, Gad is a convict who thought he was going to loot the company. the company got looted before he had a chance.
you're double counting. the LA business is probably not worth premium to invested capital. ultimately it's just a salesperson on a phone.
I didn't see the acquisition this morning, unlike the isla deal, most of the payments are on the back end. good fit, with the dedicated line haul segment. still, these deals never seem to have any positive expense savings. $15M is not that impressive after paying $20M for acquisition.
how is this still at $1.99? If book value is $8M and shares out are 5M, that's . . . $1.60. If there is a wind down and liquidation, then I don't see the final number isn't $0.
free cash flow is great enough, and new financing is cheap enough, that RLGT is actually generating real free cash flow yield. that's supporting the price, new acquisitions will be genuinely accretive.
BC did give a pres on sept 10. chrw and expd are doing better, at least the stocks are. 3pd recently got acquired by xpo at 10x. and earnings are coming up in about 10 days. and bc announced during the presentation that there is just $5M