I know what the law was, but it didn't seem right. All these companies do these complicated offshore transactions in an attempt to skirt tax rules. Just pay the tax and remove the doubt. We are only talking about $40M in tax/yr.
this guy is not worth the 1.5% of the company that they gave to him to take the sales job. He has been an abysmal failure. Just have a sit down and say it didn't work out. No need for severance, he wasn't there that long and was out of a job to begin with
TotalTrax is worse than IDSY, if you can believe that. The two companies barely make competing products when you look at what they actually do. Other than that, can't argue with what you said
that's if you take their word for the value of their used cars. Try selling all those used cars. See why Hertz hasn't filed audited financial statements in years.
Avis has a NEGATIVE net tangible assets. NEGATIVE. Take Accounting 101
The $10M includes $1M of low margin (or loss) spare parts
What's it worth then? Sales would be declining. Cash would be under $10M. More excuses from Sr execs. I say if that was the case, it's worth $4, maybe $4.50. This would lead to layoffs of 30-40 folks. There is no indication of layoffs yet.
Consolidation -- Market Talk
BY Dow Jones & Company, Inc.
— 10:10 AM ET 07/06/2015
10:10 EDT - Believing Altria (MO) stands to gain from recent consolidation in the US tobacco industry, CLSA upgrades the Marlboro maker to buy, contending MO's position as a pricing leader is expected to improve amid Reynolds' (RAI) acquisition of Lorillard and Imperial (IMT.LN) buying RAI's Winston brand. CLSA thinks Winston will try to win business through discounts but fail to cut into Marlboro's market share. The investment bank adds MO's valuation is lower than other tobacco stocks.
I'll give you another example. when your town revalues all houses for property tax purposes they look at recent sales in your area. Those sales my be less than 1% of all houses in your area but they affect you.
that's the way it works bud. They have to value their books at some point and based on that time slice, things are not as dire as you are making them.
it's also the way the stock market works. If 1% of a companies share trade higher all day, but the last trade for only 100 shares is lower, the entire company is valued at that lower price.
You sound like a high school educated guy. Are you even a college graduate or financial trained?
Hickman/Gossage contend that TAXI is using stale prices for medallions and/or "painting the tape". Now if Hickman was actually a seasoned financial advisor, he would know this is something that occurs commonly in the stock market with fund managers. Stocks that have gone up, go up on the last day of the quarter so fund managers can show more profits. Opposite for stocks that have gone down, they go down on last day.
Someone is painting the tape to make their book look better. You may not like it, but that's how it works.
Maybe the low price was the outlier.
not sure what number TAXI reported on their Q1 balance sheet, but the avg transfer price in March was $725k. So this qtr's avg price is actually HIGHER. Doesn't that squash the short thesis for another quarter?