maybe warren will fund a new cigarette company too,,,,,,,,,
Not sure if AVT taking market share from ARW. If they are it's minimal. The issue is the two companies are duplicating each others efforts. Combined their revenues would be almost $50B!
the two companies look like mirror images of each other. they should merge in a stock swap and eliminate one set of management. distribution operations could also be consolidated. ARW commands a higher multiple and should be the surviving acquirer.
good analysis of the facts. 20 of the 30 properties are now mortgaged to secure line of credit as detailed in the amended financing agreement released Monday. This leaves 250M in liquid assets 90 of which are on deposit to sustain letters of credit. 160M peak trust payments of 150M in 2014.....could go to zero
any reward of buying now without audited financial results or answers to the amount of liability associated with the Peaks trust is vaporous. I just lost 25% in 1 day. Subsequently I have to ask if there is fraud, embezzlement and wholesale criminal activity at ESI. DOJ Indictments and a cut off of fed funds may be in the works.
Maybe there never was a buyer. maybe it was all imaginary "College Portfolio Buyer, ITT spokeswoman Nicole Elam said that was a “generic” name used in the filing to identify an undisclosed potential buyer"
ITT slid 46 percent to $7.72 at the close in New York, the biggest decline since December 1994. The shares have lost 77 percent of their value this year.
College Portfolio Buyer LLC and ITT abandoned the deal involving as many as 24 pieces of property on July 29, Carmel, Indiana-based ITT said in a filing with the U.S. Securities and Exchange Commission released July 30. The sale would have brought ITT Educational as much as $119.1 million, the company said May 8 in a separate filing.
State attorneys general, the Consumer Financial Protection Bureau and the SEC are scrutinizing marketing, loan and accounting practices at ITT Educational. The company has said that the Education Department may require it to post a letter of credit to continue qualifying for federal student grants and loans.
When questioned about College Portfolio Buyer, ITT spokeswoman Nicole Elam said that was a “generic” name used in the filing to identify an undisclosed potential buyer. ITT explored the sale as part of a review of its real estate holdings, she said. The real estate deal was canceled after the buyer asked for additional time for due diligence, and ITT declined because it would have limited the company’s options to negotiate with other parties.