Seriously, BDX's counsel is probably not pushing for an appeal since they have to much risk. Right now they can push for settlement and blame the Texas jury for ignoring the law.
"Who wants that"? BDX's lawyers probably want to "fight fight fight" so they can run up the fees.
Still keeping my fingers crossed- have not sold a share.
I stand corrected. I got Hurwitz confused with Berthelot. I don't own any PDEX nor do I intend to buy any stock. My focus is on AIRT.
What expertise did Walter Clark have? When his father died he took over the company and loaded the BOD with flunkies who neither owned stock nor questioned Walter's leadership. He doesn't need to be an "expert" on running the company since each of three divisions has its own managers. The deicer business had deficiencies which are being addressed.
What the company needs is a leader with business acumen and a cogent plan to leverage AIRT's resources to put it "on the map".
Swenson's goal is to make money and he can't unless he grows the company. He will then be in a position to to either sell it or take it private. Taking it private is not his style so he has an incentive to derive benefit for all shareholders. Meanwhile, if he wasn't buying stock then who do you think is going to come to the plate given the tiny float and market cap? It was a brilliant move to buy out Clark's position since it eliminates the possibility of Clark dumping the stock and depressing the stock price. It also decreased the float.
Look, I understand your concerns but I have spent a lot of time over the past 7 years related to this investment (owning over 5% of AIRT for the past 2 years) and feel pretty comfortable with present management.
By the way, I have been following PDEX and would blame Hurwitz, not Swenson. Hurwitz was ineffective in enhancing shareholder value which opened the door for value players like Swenson to rock the boat.
Before Swenson started buying in earnest, the stock was trading under $9. It is now $12+, after paying a yearly .25-.30 dividend. The appreciation in value is directly attributable to Swenson buying 500,000 shares. Prior management was ineffective, pure and simple.
The company has no debt, plenty of cash and an unused line of credit and there is no reason to believe that Swenson is setting us up for a rights offering.
Swenson owns 750,000 shares of PDEX worth about $1.7m. SPDEX is a tiny company with less then 100 employees . It is controlled by Hurwitz, who probably doesn't see eye to eye with Swenson.
Swenson owns about 500,000 shares of AIRT worth about $6m. He is the CEO of AIRT with over 500 employees and he is in total control of the destiny of the company. The dynamics of PDEX are totally different.
I disagree. But for his intervention, the stock would be trading under $10.
The company under Clark was stagnating. Ridding the company of prior management was the most positive event in the last three years. Clark and his hand picked Board of Directors never bought a share of stock and were more focused on thwarting Swenson then trying to grow the company and improve earnings. He wasted a lot of company money on attorneys fees relating to the proxy battle that he lost.
Swenson owns over 20% of the company and he is still buying. He has my vote of confidence and i have not sold a share of my substantial stake.
I believe the company will be a lot higher by year end.
the $64 question- will we be screwed by management again? He has raised our expections before only to be electro-shocked back to reality when he can't deliver and comes up with another BS excuse
Sales were pretty flat but profits were up due to decreased expenses. Bazet gave us his typical projection- "we are going to do better this year....". Problem is that he lacks credibility. .
Saw it- he picked up 9000 shares . I bet you he was the buyer yesterday and today.
We should see $12+ this week as there was little resistance at the $11.89 level. .