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Assured Guaranty Ltd. Message Board

cohsgrad 107 posts  |  Last Activity: Dec 21, 2014 11:10 PM Member since: Feb 27, 2000
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  • Reply to

    Late 10-K

    by cohsgrad Sep 25, 2014 9:41 AM
    cohsgrad cohsgrad Oct 1, 2014 9:27 AM Flag

    I've been through some conversions but never one that resulted in these kinds of delays. They also said they were going to file and they missed the deadline so obviously they ran into unexpected problems. I'm not saying it is the end of the world or anything like that. I'm just saying they are not on top of things.

    More of a reflection on management capabilities than anything like having to re-state sales or write down some assets. I'm guessing there is a chance of some minor re-statements but nothing material as they just don't have any tough accounting issues to deal with based on what I see.

    Steel Partners is not as brilliant as you seem to think. They make bets. Some work out some don't. Too early to say here but I sure think the assets would be better off in someone elses hands and that someone else is not Steel Partners.

  • Reply to

    Truly sad

    by anomolypursued Sep 29, 2014 4:29 AM
    cohsgrad cohsgrad Sep 30, 2014 4:33 PM Flag

    Would add that they have obviously declined a great since the acquisition proposal so it isn't obvious or even likely that they can do a transaction at this point in time.

  • Reply to

    Truly sad

    by anomolypursued Sep 29, 2014 4:29 AM
    cohsgrad cohsgrad Sep 30, 2014 4:25 PM Flag

    Agree with your statement regarding merchandising and fact that holidays will be rough for them. A marginal business can't show huge negative operating trends such as they have.

    Why didn't folks vote to support the acquisition?

  • Reply to

    Late 10-K

    by cohsgrad Sep 25, 2014 9:41 AM
    cohsgrad cohsgrad Sep 30, 2014 9:19 AM Flag

    90 days since year-end. Things must really be out of control.

  • Reply to

    Alco as a small town store

    by dkwilk Sep 26, 2014 10:18 PM
    cohsgrad cohsgrad Sep 29, 2014 12:37 PM Flag

    The Dollar stores have certainly done well and I would have said there was no way they should succeed. Obviously merchandising is a problem but I wonder about distribution too and that isn't a problem that can be fixed without substantial expansion which obviously isn't going to happen.

  • Reply to

    Truly sad

    by anomolypursued Sep 29, 2014 4:29 AM
    cohsgrad cohsgrad Sep 29, 2014 9:18 AM Flag

    I don't see any reason to think that they will turn it around. Go through their old annual reports and there is just nothing but talk of a turnaround for the last decade. That is through multiple management teams.

    At some point in time one has to face the fact that it just isn't working and try to evaluate the alternatives. Maybe there are alternatives but I'm sure not aware of them. The best hope seems to be to manage to get to break even at some point in future following which they will generate significant losses.

  • Reply to

    Alco as a small town store

    by dkwilk Sep 26, 2014 10:18 PM
    cohsgrad cohsgrad Sep 29, 2014 8:39 AM Flag

    Have you compared their prices and assortments to dollar stores? I'm not much of a shopper so if that is a stupid question I'm sorry.

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