Does this deal seem in part related to RDG? It seems to me what Russell Glass was talking about.
In any event, TA is not paying a lot more rent in the future. We are paying a far less rent for those sites. Plus TA is not paying income tax on the gain right now. More over, 106 mil defered rent was kicked down the road by average 6.5 years, broke into four payments rather than one. Alls sites now have additional 30 year options. What more do you want?
I don't trust TA management, and I hate that Portanoy guys. Hard to believe they are doing this voluntarily. My thought is that Glass is threatening those guys #$%$ with a really hot rod. Glass mentioned $24 for TA.
In May I lost $17.50 calls. In june, I am lucky again reapeating April.
I think the selling is over too. I however dont understand why we had this huge selling from the first place. Did people really believe in 90 cents net and disappointed on 41 cents in the worst quarter? It seems I am too dumb to understand.