Another Train in station is FRP ,a Telcon who came out of BK.They report tomorrow.Angelo Gordon is the big passenger here
I believe this train may be hijacked
Like Gabelli did with LICT,delisted From AMEX,took dark with a 100-1 reverse split,listed on Pinks,eliminated expensive SEC reporting requirements,reduced BOD to 3 people,Conduct Dutch auctions to buy back stock.
Stay tuned !!!
We will see whether Mike and others step up to the plate.
Interesting day in the pits,Stock tumbled after CC and picked up in last hour. volume was over 38,000 shares.
I am not one to talk personnel trading,but I did some bargain hunting today.
What surprises me is that Gabelli hasn't moved in. He has Sugarmen on the board. Annual meeting may be interesting
The unanswered question is did they overpay for Ct.. Was it a ego trip for Maggie as Ct is FTR home base and Maggie lives there.??They have stabilized the rest of their business so it seems.
Could OTEL be a little bolt on ??
We need a third party offer above market which board rejects and doesn't tell how much was offered !!
FTR had nice numbers with healthy broadband adds.Free cash flow was $835 million with $400 million dividend requirement.They like the CT add from AT&T
I will be interested in revenue line, EBITDA,CAPEX,Cash balance,free cash flow.,debt balance.
While waiting for the OTELnumbers,you can check out FTR who report after close on monday
Now as you probable know,Mario Gabelli owns 38% of the stock of LICT.Any suitor would have to deal with Mario.Not sure of the purpose of the offer.Do they intend to bring legal action as minority stockholders not represented.There are only three directors,Mario,,Muoio,and Sugarman.The only other significant stockholder listed is Wally Weitz (Hickory Fund) with 4%
As far as OTEL,the only buyers sit on low side of bid waiting for weak sellers.
Back to LICT,not many people want to own a illiquid stock on the pinks. LICT buys back stock at below book.
Now Mario with his millions could easily make a offer for rest of the LICT stock and not be annoyed with third party offers
I Believe Gabelli will make a move possible have LICT acquire OTEL.With Sugarman on both boards he certainly knows the numbers/..MAY 15 annual meeting in NYC could be interesting
Now how much have they sold since 12/31/2013 ?How much today ? Since they are below 5% must they continue to file ? Buying Oportunity ?.I am counting on you walk57, Don't disappoint !!!!!
It is interesting you mention LICT. A company controlled By Mario Gabelli.LICT was traded on American stock exchange until it went dark with a 1 for 100 stock exchange.stock Outstanding is 22,000 shares and hardly ever trades.LlCT buys back stock well under book.There are three directors of LICT including Sugaman who as know is on the OTEL board. Again Interesting
Interesting day at the OTEL trading post. Largest volume since 2013.Seller had rough day as most of the trades at lower end of the range.Is he done ????
Like you,anxious to see those Q4 numbers.Probable comparable to Q3. Equivalent Line loses over 2013 have been minimal.and restructuring expenses gone.
your turning me into optimist !
I love your Optimistic View. With the very light volume and wide spread,not sure the 18% very meaningful.
Can A large buyer Trade in here ??. Need a buyer come in with a take out offer. Only 3 million shares outstanding. Pocket change !!