RE:RE:RE:RE:Wow…PLM closed today ..$6.13 per share in cashConcur that there has been no real action towards shareholders in years. Trust us, they say. We manage the assets as if they were our own, they say.
1) I am going to be very seriously disappointed if the market does not give us at least a $9 value on Monday. There will be a discount to NAV, but for gads sake we are talking about so much cash.
And honestly, if management had any confidence in a successful PLM close they should have been buying the stock back when it was in the $4 range with cash in hand
2) Not enough.
3) I concur with the idea, but have you seen the Mittleman portfolio? Bad idea to let them pick the stocks. Even worse to let them buy and run a business to maximize the tax credits, which they appear to be overly preoccupied with.
Unless there is a cascade of clear communication and action coming forth on Monday, I'm fully out.
But, very satisfied with the (anticipated) return on my patience over about 4 years.
Hadituptohere wrote: Below is the only sensible path if the board cares about shareholders. If they elect not to do so, then you will know that their generous and multi-layered bonuses to themselves have irreparably misaligned their interests and yours:
Step 1: Immediately back every single share they can upto $7, cognizant that each purchase is highly accretive to the intrinsic value of Aimia shares. I doubt this will cost more than $100mm.
Step 2: Issue a one time dividend to appease their institutional ownership so there is no unnecessary large selling anytime soon. 50cents per share would be less than $50mm.
Step 3: Invest the majority of the unused $400mm+ into LIQUID securities. That money could easily double, if not triple, over the next 1-2 years given the extreme bargains everywhere. And once it exceeds $1b, then they can start looking at the private deals they have shown an odd attraction to despite demonstrating a subpar track record in this area. Never again should this equity languish for years due to either a lack of liquidity or concerns about the professional judgment of its leadership. This path will firmly and loudly address both issues, perhaps permanently.