RE:RE:RE:wow oil below $85snowshoedb wrote: Sounds like you need a vineyard.
The goals are obvious… Paid down debt to get out of trouble. History has shown that this company generates returns which is given to shareholders… Consistently for over 20 years. They have spent the last few years trying to get out of that trouble.
takeover will be unsuccessful and nobody will offer it at this point. They don't have a lot of loss carry forward's. Current ownership is totally held with no interest in selling to another party. George is not looking for an exit at this time. He said it in his farewell address. It will take time for the new season CEO to make his mark. But with George still owning a large portion of the shares and loyal shareholders to George's way of thinking… You can bet that they will be returning profits to shareholders once they are not restricted by their banking covenants.
Like me when i bought this dog, you're wrong on so many points. They didn't pay consistently for over 20 years because the dividend was being reduced years prior to the covid induced elimination of it altogether. They've been digging a hole since 2014 and they got in to trouble because they paid out too much and blew their brains out on acquisitions using too much debt and got caught. And I have no idea what you mean about loss carryforwards? or are you talking tax pools? if you mean losses vs profits then there is almost 400MM in losses under the accumulated deficit line item on the last earnings release. That line item is what it says it is, accumulated deficit. Or, in other words, accumulated losses.
To add, everyone has an exit strategy. The reins are no longer in the former CEO's hands and the percentage of shares owned is around what, 12%? Times change, people change, shareholders change, companies change. The world keeps moving and time forgets everyone eventually. If shareholders vote for something, it will happen.