RE: Repap.com rumor looks good!From the Inside (of the mill, that is):
First of all, Fred Ketchen (not Ketchum, that was a C/W singer wasn't it?) is a senile fart, and will willingly admit he hasn't a clue about tech stocks and their valuations. The only substance one can give his rumour is that it was too proposterous to have been pulled out of thin air. I think he came up with it after the run up (as an explanation for it) rather than before it (to cause it).
I spkoe to the A-1 paper Mach. Supt. the other day. He told me he asked the Mill manager about any rumours. the Manager told him it is all nonsense. Hokey1: where did you hear the Mead thing? reps from our mill were in Maine recently to look at a peice of equipment that we recently installed here on our A-2 Coater. (The results, byt the way, are faster speeds, fewer breaks, top-notch quality).
I a also told that the roll prchase from the mill in Blandin, Minn., is a common sort of thing. A few yrs ago that mill had a crash, and we supplied them with some gears for a felt stretch so they could get bac running again.
George Petty had great contacts, and a great ability to convince bankers and investors into buying into his vision. That is why TD is on the hook, as well as a many others. These people will not see a return on their investment for a long time. It will take a while to pay off 1.13B in debt, or to turn a profit after paying all that interest. we are making marginal gains in operating profit quarter after quarter, and I am told that is a good thing (just like Martha stewart says). The place is run better now than it ever has been. For those of you in at 10-14 cents, you are int eh best shape to see some modest gains. Dont look for a home run here.