Swisher Hygiene Inc SWSH

RE: RE: RE: Article in the Globe & Mail

[IYEL]

Ah Fabrice. Those were the days way back when. Coolbrands common was on it's insane drive to the heavens that began long before the Nestle/Dreyers deal and saw the common run from under a buck to the twenties before the whole thing collapsed in a heap in about four days in the summer of 2004. As the old timers here know I was one of the original shills and stayed that way as long as I thought their operations were on the right path. Then just like that management went off to parts unknown deciding that the third largest ice cream company in North America shouldnt sell ice cream or at least ice cream anyone would want to eat. Dogs maybe.   :-)  but the rest of us?  The Globe and Mail bashed and bashed and bashed trhough the good and not so good days.  I used to refer to them as the er Mop and Pail. Should have paid closer attention although for months before the collapse I went more and more from shill to critic. Unfortunately I was guilty and then some of the cardinal sin. Too close to the belly of the beast. Involved from the beginning. The IPO of the then Steves Homemade Ice Cream. Never ever thought that the crew that brought the common from an unknown nothing to the cusp of something special would collectively all chow down stupid pills  and blow the whole thing up. Never sold one share. We know how that turned out.

I suddenly found myself about to repat the same mistake here with Swisher. A work in progress yes. Over 3 to 5 years a nice bet for big profits. But guys when it got to a point  where its market cap was 90% of Steris I hit myself upside the head and bailed. At least a bit. Dumped most of my holdings in the assorted tax free accounts  and kept my holdings in the rest. Sold around $9.85 and watched not at all suprised to see the common go up another 25%.
Timing still matters but it was time. Steris is one of the crown jewels of this business and Swisher right now anyways isnt a quarter of the company Steris is. Some day maybe but not now.

Swisher may well work out and if it does get slaughtered this week I may well find it a good specualtion should it get back down to the mid single digits but having lived this movie before I had seen enough. Now is the time to watch for those silly little things like you know earnings and how they plan to utilize all that cash they have. The game is still fun but for me I am a bit older and a lot more wiser.