Couple of Thoughts for Fat-Charlie (and others!)Hey there Fat Charlie and fellow Becker Milk shareholders,
Hope all is well!
I was just having a couple of recent thoughts about Becker Milk:
1)
Once the sale/deal is finalized, I was thinking that Dr. Pottow is very likely to make certain that the regular-non-voting share holders like ourselves will still get a good deal on our portion of the company.
The reason I feel that is very likely the case, is based upon the fact that Dr. Pottow has a rather strong history of being generous and caring about his shareholders, in terms of all the special dividends he has given them over the years.
Putting your money where your mouth is, and giving out special dividends to the shareholders you say your care about (while still keeping the company balance sheets in a pristine condition) is pretty strong evidence in my books, that a company CEO does indeed genuinely care about the shareholders.
And of course, naturally, many of the non-voting share holders probably also include major players in the Toronto business community... I don't think he's going to want to alienate them by getting a sucky deal on their non-voting shares! They invested in his company because they like his style, trust him, and they like Becker Milks assets.
So Dr. Pottow doesn't seem like the kind of person to let them down, especially given his track record of management style, and moral values that, again, show a deep caring for shareholders, that dates back several decades.
2)
Speaking of major players, it seems to me that the major funds, and major share holders are still holding onto their Becker Milk shares, including the nonvoting shares, very tightly.
So that in itself is a very good sign.
Even if they do get impatient, and decide to start selling off shares, I think I might actually pick up more shares if they bring down the price, as really, now that Dr. Pottow is getting older, and has actually begin spending money to sell off the company and wind things down, it seems to me the company is really going to sell.
Again Dr. Pottow is insanely frugal: so he's not the type to spend money on hiring PriceWaterhouse, and also hiring an engineering firm to evaluate all the property, just for the fun of it.
These are strong indicators that he is going to sell.
But the fact that he has not yet sold, is also a strong indicator that he is going to fight for a fair price, and cares about his shareholders...
In short, given that there are strong signs that Dr. Pottow is serious about selling, and strong signs he cares about all of his shareholders, the best scenario from my perspective is either:
1) Becker Milk sells today at a nice fair, or premium price!
2) Becker Milk sells within a couple of years, and some major share holders get impatient, and sell off a few shares, allowing me to buy more at a cheaper price!
Anyways, those were just a couple of thoughts running through my head the last few days...