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Pep Boys - Manny, Moe & Jack Message Board

smaycs4 135 posts  |  Last Activity: 14 hours ago Member since: Oct 14, 2011
  • Ive always said that TUES would pull back faster than the averages if the market goes down. And it did.

    I had a lot of red yesterday & today with everything, not just TUES.

    But, thats part of it. I hope it doesnt turn into a 20-30% market decline but if it does, it would be a good time for me to deploy all this cash Ive been sitting on.

  • smaycs4 smaycs4 Mar 25, 2014 5:12 PM Flag

    I would wager that the vast majority of their stores do very little sales after 7 Mon-thursday.

    Im sure the new registers can tell them when what stores are doing how much sales and I can assure you that enough stores are doing enough business after 6pm, they will consider keeping some stores open longer.

  • smaycs4 smaycs4 Mar 22, 2014 9:49 AM Flag

    It hasnt changed hands. Same Chairman & President for the last 14 years. The CFO did quit or get ousted recently.

    This is my 2nd time owning it. First time was 13 years or so ago. I sold too soon the first time as it went to near $15 but I sold out at $5-6. Paid about $3 both times.

    But they have committed to the new format although they have slowed down from their original intent. They aren't buying out old leases anymore and have several times slowed down on how fast they were switching over. I thought their original plans were too
    aggressive anyway. But, I really don't follow it that closely.

  • Seems wasteful to fly all those do-nothing directors to DC.

  • Big insisted or the CBRL directors wanted a free vacation ?

  • Reply to

    BUBBLE BREAKS--BIGLARI -wants out -

    by redfrogkm Feb 23, 2014 11:46 PM
    smaycs4 smaycs4 Mar 21, 2014 4:03 PM Flag

    The company cant afford to buy his block without borrowing heavily and they cant borrow heavily because they advised against it when he was looking for the $20 dividend.

    But todays PR tells us that Biglari ASKED them to do a repurchase with debt and he might sell his entire stake.

    So he is signaling that he was open to an offer.

    The amount both sides are spending is peanuts compared to the marketcap of the company.

    I own BH but not CBRL. So Id like it if the vote favors a searching for a buyer. I hope that the stock might bring $115-125+ if it were put on the block. But I dont want biglari to get it, I want him to cash out because I think he can do better elsewhere.

  • smaycs4 smaycs4 Mar 21, 2014 3:57 PM Flag

    If the prior deal was $28, why would you think BH could get it for 10-12 ?

    Was the seller desparate or what ?

    I mean, Ive bought cars only to find out the odometer was broken so I give it back to the auction and they re-run it and it brings almost as much as when the miles were supposedly accurate.

    Like 90-95% as much on old, cheap cars which is what I used to deal with.

    His meeting will be interesting in what he has to say about both the magazine and the insurance company.

    But, most of us wont be there so we have to rely on passed down info.

  • Reply to

    Great RCKY write up on Seeking Alpha

    by barnstripper Mar 14, 2014 7:35 AM
    smaycs4 smaycs4 Mar 21, 2014 3:52 PM Flag

    Im ready for $22 !

    LOL

  • smaycs4 smaycs4 Mar 21, 2014 3:47 PM Flag

    Yeah, mine too.

    I was on the other side of town wanting to check one out and forgot about the early closing. Got there at 7:30 and it was dark.

    They moved into a space that used to be casual male. Casual Male went around the corner to a bigger spot & opened a destination xl which is bigger & supposedly performs better.

    I own some DXLG shares from when they were about $3. Now $5.50. I sold about 38% at $6.50.

  • My store used to be a big 10 tires. I hadnt been in there in 7-8 years because I always had better deals at a firestone for oil changes.

    This time, I found a $19.21 deal for their anniversary or something. Oil Change and rotatiion, Rotation is extra at firestone.
    So I will probably use them going forward. Although I only get my oil changed about once a year or so because I dont drive much. I noticed that Pep Boys always seems to run a decent oil change special, $21.99-23.99.

    To my surprise, they didnt try to upsell me on ANYTHING and that was refreshing. And they didnt charge me an oil disposal fee that firestone always trys to but I ask them to remove it and they do.

    As for the stock I sold, It had a cost basis of like $2.76 so why not cash out some at $13.49 ?

    I previously sold some at $15 (But not all) and then bought some back at $8.91 in june of last year when Dan was bashing them.

    Im hoping it goes over $15 again and maybe gets bought out at $17-18.00.

  • smaycs4 smaycs4 Mar 21, 2014 7:03 AM Flag

    BH would go up in any liquidity event from their CBRL stake.

    Both would go up if over 50% vote for a sale of CBRL.

    Even if neither happen, I expect CBRL will try to get rid of him somehow. Maybe by buying part of his stake and placing the rest or something.

  • smaycs4 smaycs4 Mar 21, 2014 6:54 AM Flag

    They will have to eventually. Either in an 8k or the 10q.

    The question is, what is "material" ?

    If the magazine was a $10-12 million purchase, I guess they could say that amount is not material for a company their size. Not sure what they paid for either.

    If its not material, they can delay the exact details.

    We will know on both in the next 10q at the latest.

  • I know that Denn, Bigjim and the swollen balls idiot are all little children with nothing worth reading.

  • Reply to

    Is Sadar selling something?.....

    by den56kk Mar 17, 2014 3:49 PM
    smaycs4 smaycs4 Mar 19, 2014 5:03 PM Flag

    He isn't selling stores, he is allowing franchisees to build them for a fee.

    Note that company owned stores increased by 4.

    Hopefully the income will offset all he has spent.

  • Just wonder what he paid.

    Gotta know he is going to add "By Biglari" to both the soft porn magazine and the insurance company.

    Because truckers and soft porn customers want to do business with an egomanic Iranian.
    LOL

    But, Im pleased the stock is up. Hope it stays up.

  • Reply to

    Hi smay, saw your

    by uptabdowntab Mar 5, 2014 4:28 PM
    smaycs4 smaycs4 Mar 17, 2014 6:15 AM Flag

    Its an empty shell with cash per share roughly equal to the share price. Plus some NOLs.

    BD will eventually merge something into SDOI and hopefully when they do the stock price will go up.

  • Reply to

    New but late 13d ? 6.6% at $5.78 avg ?

    by smaycs4 Mar 14, 2014 12:44 PM
    smaycs4 smaycs4 Mar 14, 2014 1:00 PM Flag

    Niner is about 76-77.

    Mr. Richard T. Niner has been General Partner of Wind River Associates LP since January 1999. Mr. Niner has been General Partner of Brynwood Management II, L.P.; the general partner of Brynwood Partners II, L.P. since 1988. Mr. Niner served as the Chairman of the Board of Hurco Companies Inc. since March 9, 1999. He serves as a Director of Case Pomeroy & Company, Inc. Mr. Niner served as Presiding Independent Director of Hurco Companies Inc. and as its Director since 1986 until March 15, 2012. Mr. Niner served as Director of Arrow International Inc. since 1982 until May 4, 2007. Mr. Niner served as a Director of Air Express International Corp. since 1985 and as a Director of Precision until its dissolution in May 2002.
    =========
    2008 Biography

    Richard T. Niner, age 71, has been a member of the Board of Directors since 1986. Mr. Niner has been a self-employed private investor for more than twenty-five years.

  • smaycs4 smaycs4 Mar 14, 2014 12:55 PM Flag

    I never kept up with his looks before. He doesnt look to bad for 72 to me.
    Doubt he wants to take it private. Why hire a new CEO if you want to take it private ?

    My concern is the revolving doors at pretty much all mgmt positions below him. And the continued same store sales declines.

    The "extra" 50 cents this year, on top of the buyback & last years dividend seems a bit silly. Like what are they doing in the boardroom ?

    Clearly I should have sold all mine in the tender offer but hindsight is 20-20.

  • Reply to

    Becker Drapkin is dumping bigtime here.

    by longtimefollower Feb 20, 2014 4:51 PM
    smaycs4 smaycs4 Mar 14, 2014 12:50 PM Flag

    Recently read this & copy & pasted it just for you.
    --------------
    Finally, consider that a near-identical situation emerged at GLUU (large investor selling and insiders initiating 10b5-1 programs) BEFORE they announced the blowout results that sent the stock up 33% (and still rising).

    So again, insider selling is not a meaningful data point. It's often just a sign that the stock has 1) "graduated" or 2) become too large a portion of the constituents' portfolio or net worth and needs to be trimmed. If you know anyone to whom this has occurred, you know this to be true. I happen to know several from the course of my 25-year career.
    =============
    Retaining a small portion of my position hoping for higher prices is not reckless.

    Presuming a 15% holder is wildly gambling with no basis whatsoever seems more speculative and reckless.

  • It was filed 3/13/14. It should have been filed October 9, 2008 or something.

    I compute an avg cost of about $5.78 if my math is right.

    The shares beneficially owned by the Niners and the Foundation (the “Shares”) were purchased using aggregate personal funds of $16,498,999.46.

    Item 4. Purpose of Transaction.

    The Shares were purchased in a series of transactions from November 7, 2007 to March 9, 2009 for investment purposes.

PBY
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