You have the grandiosity, and delusional self reverence that is characteristic of someone who is a drunk.
It's clear you don't understand this industry. Too bad for you. The demand for suspension assemblies will be growing considerably faster than the overall economy, over the next SEVERAL years, and HTCH's market share has a very good chance of going from 22% to 33% over that time period. I expect the next 6-18 months, in particular, to be explosive for the company. And I could care less about the fact that we have dropped as much as we have, in the near term. In fact, I am delighted. So much so, such that I own 2.5% of the company.
They delisted to save money, because they were in a financial pickle....until the recent money raising transactions. Things are much better now, and that is the most important thing. Although I personally am very disappointed with the AMEX delisting, as I believe i was pennywise and pound foolish.
In any case, the story has the potential to get much better for Claude this year....and I believe it will.
Sentiment: Strong Buy
Isn't this the guy, former president of the bankrupt Furniture Brands, who, along with CEO Ralph Scozzafava, that DESTROYED Furniture Brands...and shamelessly RAPED the shareholders with a licentious and larcenous pay package, all the while?
I think the negative reaction to yesterday's release was irrational. The earnings beat was much more significant than the revenue shortfall.
I would be very surprised if we do not see one or more insiders come in here and buy in the open market.
The proper trading price for this stock, imho, is $6.00-6.50.....not $4.30.
Sentiment: Strong Buy
It's very important, when a CEO has been in charge for as long as this one has, with the record of significantly subpar long term returns, that he is willing to be accountable for his failures, and not make up nonsensical excuses or "snow" the investment community. As a 2.5% owner of this company, let us hope that i will not be "frozen out" of the next conference call, and that the entire call will be made available. (I see no transcript yet, and wonder if it is available on the company's website.)
Mr. Bazet's excuse making machine is unseemly, unbecoming, and inappropriate of a true leader.
I have found that part of the problem with Cobra is that the board has no independence from Mr. Bazet. In this sense, the company's governance is fundamentally dysfunctional, and there is little or no accountability for Mr. Bazet.
It's one thing to have a spotty and unacceptable long term record. It's another to "fall off the wagon" constantly, and fabricate execuses, as our CEO habitually does. I have TOLD him before not to do that, as it destroys his credibility on the Street, but it seems like he can't help himself.
The fact of the matter is, Cobra has been a wonderful sinecure for Jim Bazet, and a do nothing board could care less about the outside shareholders, or long teem value creation. (Why is the same guy still running the company after all these years, and why do they TOLERATE the kind of asinine, folderolic, sophmoric explanations that Jim gives in these conference calls. ) I have no personal animus towards him, but i take great offense when i am being MANIPULATED, by an excuse making machine....especially when those excuses are intended to pull the wool over the Street's eyes. Jim needs to acknowledge that his overall record has been one of RANK failure. Lawsuits with huge financial hits....buying PPL at the top of the market with little to show for it, the promise (and then failure) of the hugely overblown Aura database, a disasterous foray into mass market GPS several years, a costly failed purchase of Lowrance, and, HIGHLY spotty product life cycles that make financial results YOYO up and down, and a boneheaded cash surrender value of executive insurance plans......all of these serve to DESTROY the willingness of regular investors to buy this stock. It's just saps like me, who believe the value will ONE DAY be unlocked, that stay stuck in this VALUE TRAP, while the board just blithely twiddles its thumbs, giving its primary loyalty to Jim Bazet, and waiting for HIM to say when he's ready to retire, at which point, i guess maybe we'll go out in style, and sell the company for $5+.....when we could have done that a decade ago! No thanks to Mr. Bazet and his friendly neighborhood board (sitters).
I withheld both nominees for the board, in this proxy, btw.
I think buying it at 10 cents is the most asinine thing i've ever heard. (If the stock gets THAT low, it'll only be if they're in bankruptcy, and you're going to get wiped out, in THAT case.)
I think such a statement of yours reveals you to be the self proclaimed, self aggrandizing, buffoon that you are.
I think you are a fraud.
I continue to buy, as i think any scenario is a money making scenario, at this point, EXCEPT a bankruptcy announcement.....and i see that as highly unlikely, in the near to intermediate term.....and probably long term as well.
"Trusting" that a stock that is going down is NOT a buy, MERELY because it is going down, is utterly conventional thinking.
The short money has been made here. Reversion to the mean is much more likely in the near term. Going "straight to zero" makes no sense, considering the positivd cash flow the company has maintained, and relatively low level of debt.
But suit yourself. And enjoy the "bubble world"....where you get to be the "smartest guy the room".....in your own mind.
I don't have an MBA, but i do know how to pick stocks. If i am wrong about this one, then so be it.....but the proper position to have here is a long one, not a short one. In a diversified portfolio, certainly.
I'm not sure that's enough short shares to be material, either way....but i do like your notion that the fact that no insiders sold when we ran up to $6+ is bullish.
As recently as a couple weeks ago. And BEFORE an earnings release? Is that a 10b-5 plan?
Did any insiders PARTICIPATE in the announced 2.1 M share stock issuance, and BUY stock?
Please see my press release from today, along with the related SEC 13D filing.
The release speaks for itself. I believe the 2 compansation committee members, Kenneth M. Scheriff and Jeffrey R. Franklin have, without question, have evidenced themselves to be corrupt figures, serving on P&F's board exclusively to "feather the nest" of CEO Richard Horowitz, as Horowitz licentiously, with moral larceny in his spirit, and a sense of contempt for the outside shareholder base, has taken out the lion's share of the increase in the company's value, over the last decade or more, for himself.
There is no justification for the pay that Horowitz continues to take out of this company, and the "revision" of his employment agreement, by Scheriff and Franklin, for 2014, reveals in spades, the form of perverse and diabolical "sway" that Horowitz has over a majority of the P&F board.
I intend to vote to WITHHOLD directors Scheriff, and Mitchell A. Solomon (a golfing buddy and close personal friend of Horowitz) at the upcoming annual meeting later this month. I also intend to vote AGAINST the approval of the executive pay.
Average cost of $1.58. (I was 10% of today's total volume.)
1) Cost cutting will stay ahead of revenue declines. Company remains cash flow and GAAP EPS positive.
2) Company finds lender to replace ASFG by June 30th. Lender buys all in house funded loans as well.
3) Company gets waiver from bank on technical default in the next week, before 10-Q is filed.
4) Company remains in compliance with ED, with NO requirement of posting letter of credit.
5) New initiatives turn around enrollments by the end of this calendar year.
5) Company maintains liquidity. Stock trades higher when investors see this is NOT a "pending Ch. 11."
KICKER: Sale or spin off of Heald could yield multi-bagger stock price increase (and MASSIVE short covering rally) similar to what happened with CECO, when it sold off its international ops.
Sentiment: Strong Buy