Gary Kohler (a director) has 43,000 shares, Swenson still buying
Factoring in the increase in the LOC, this is getting very exciting. I am confident sticking with Swenson
Someone had advance notice of the possible stock offering as the stock has had a very steady slide for months. I have never sen such a screwed up situation relative to the announcement of the secondary and then the almost immediate notice of termination.
What a total bunch of .....!!!
As you probably know, i owned COBR for many years but gave up last year in frustration over Bazet's ineptitude. The sale of COBR for less then book value underscores that Bazet was still failing at turning the company around. He is the only one who has benefited the past many years with his large salary.
I am a significant shareholder in AIRT. Swenson acquired (on the open market) a 23+% interest in AIRT , started a proxy battle, dislodged the existing Board and got the CEO to leave. Swenson is an activist and must see real value in ISIG.
If Swenson is involved, then I will also look at ISIG very closely.
ISIG has $1.55/share in cash and no long term debt. New management also looks strong. Although it is only marginally profitable at this time, it appears to have nice potential.
Swenson wanted to leverage AIRT's assets to make money. He must be extremely confident that an investment in ISIG constitutes the best use of AIRT's money at this time.
the market is putting nominal value on the company- i think that the potential is still there for a merger at a much higher price. i picked up another 150,000 shares in the last five trading days. For $20,000, I am ready to roll the dice.
Walter Clark generated a lot of big sales that were only marginally profitable such as te USAF towmotor contract. . The big question is whether Swenson can do better? He mentioned in an earlier quarter release that he was going to focus on higher margin sales.
I have been buying almost every day since the earnings release on the prospect that last quarter was a "clean up" and we should see real improvement going forward. I also expect to see that Swenson has also been buying at this level as he bought in mid June at $12.75.