I believe the Sugarman deal was in 1988 and MEG ended up basically giving him a newsprint recycling facility (if I remember right) just to get rid of him. Stewart Bryan really isn't the smartest bear in the woods. He wouldn't have made it very far if it wasn't for his ancestors. That doesn't sound very nice, but I believe it to be true.
Value_invstr, thanks for the straight up answer. I only make snarky comments in response to snide comments, however I don't prefer doing that. You may be right or wrong, only time will tell, but I do appreciate your input. I totally disagree with your position regarding debt refinance, however you do seem to be knowledgeable about the industry in general. I can't even imagine $15-$20 except for a buyout. The Bryan family holds the majority of the voting class B shares, so I don't see a takeover happening unless they are willing to allow that. If we get a May sell off, I may buy 3-5 thousand shares for a quick trade. I've made a ton of money trading this stock the last few years but haven't traded it at all this year so far. As a retiree of MEG, I always wish the company well, but I'm quite frankly upset with the way management has damaged the company that I and many others spent a lifetime trying to make better. I take incompetent leadership personal. I always like to see people make money trading. I don't get a thrill out of people losing. I only want to see the price drop temporarily in order to get a good price for a trade as it seems to be overbought right now. Good luck to you.
Nobody said it "would" test 3.50. It "could" test 3.50 and that's still yet to be seen. Gap filling isn't always an overnight exercise. Look how long it took Apple (AAPL). As for value investor, I think you guys see each other when you look in the mirror. Is there a reason for that?
I take it that you somehow "know" it's not possible. All coming from a guy that thinks MEG can cut their interest in half "anytime they want to". You and apaki must share the same bed!
If they could they would. The best deal and maybe the only deal they could get last year was from Berkshire Hathaway with outrageous terms. The outstanding debt is more than the value of the assets.