Glentel Inc GLNIF

RE:RE:Third Quater Results anytime now

[Robert40]

If they are growing organically, revenues will be more but net earnings will be less as was the case during the first two quarters and that is perfectly ok. It is like making more down payment towards your mortgage so that you are mortgage free quicker. Putting myself in Warran Buffet or Ican's shoes (it will be too big!!!) I suggest using 45 million cash they have to buy back 1 or 2 million shares for cancellation, it will be cheaper at 3% interest rate loan since yeild presently is 3.56%. Thus reducing the number of shares to 20 million at todays price of $13.65- $15 (spending 28-29 million out of 45 million) will take stock price north of $30 and earning per share more than 10%. Just a thought. I know Thomas Skidmore is very smart and intelligent businessman with nearly 40 plus years of business experience and has not sold any stock. I respect him for his retail knowledge but still can't get it why he is still hanging on to small portion of business centres. Return on investment on business centres is practically zero or negative and it has been same for last 15 years or so. May be emptional attachment or credit given to business centres for starting retail business. No doubt business centre people at the helm started retail and credit must be given to them for puting excellent clauses in the contract signed with Rogers in nintees (no permission will be required from carrier to open any number of stores glentel wants in future), but those expertise can be better utilized elsewhere and stagnant business can be sold or closed. Just my two bits.