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Can't figure this chart out
- Thread starter max401
- Start date
I guess there are those that think the now announced business plan (used cars) is a big deal. Carmax was in the crapper for years though.Quote from jordanf:
I didn't do a exhaustive study, but I only counted 10 days since IPO where the Close was lower than the previous day's Low. And half those are days where the previous day only printed at one price.
I couldn't help myself, had some time to waste.
From the 2004 Annual report:
"Management intends to review various assets for potential acquisition.
Specifically, we intend to pursue to potential acquisition of used car sales assets owned by PAACO Automotive Group L.P. On November 12, 2004, we entered into a non-binding letter of intent with PAACO Automotive Group L.P. providing for our potential acquisition of its assets that are necessary for the operation of its "Buy-Here Pay-Here" used car sales business."
From the 2005 Annual report:
"Management is reviewing various assets for potential acquisition. Specifically, we intend to pursue a potential acquisition of "Buy-Here Pay-Here" used car sales business."
Not a lot of progress in a year...
Other statements:
"Our cash on hand at November 30, 2005 was $777." (not in thousands)
"We did not earn any revenues from our inception on August 27, 2002 to November 30, 2005."
"At November 30, 2005, our assets totalled $2,107 and consisted of cash and cash equivalents of $777 and prepaid expenses of $1,330."
Thats zero revenue, not zero income...
Yet, they just announced hiring a new CEO, who will be paid a $300,000 a year salary (plus potential 25% bonus). How are they going to pay this guy?
From the 2004 Annual report:
"Management intends to review various assets for potential acquisition.
Specifically, we intend to pursue to potential acquisition of used car sales assets owned by PAACO Automotive Group L.P. On November 12, 2004, we entered into a non-binding letter of intent with PAACO Automotive Group L.P. providing for our potential acquisition of its assets that are necessary for the operation of its "Buy-Here Pay-Here" used car sales business."
From the 2005 Annual report:
"Management is reviewing various assets for potential acquisition. Specifically, we intend to pursue a potential acquisition of "Buy-Here Pay-Here" used car sales business."
Not a lot of progress in a year...
Other statements:
"Our cash on hand at November 30, 2005 was $777." (not in thousands)
"We did not earn any revenues from our inception on August 27, 2002 to November 30, 2005."
"At November 30, 2005, our assets totalled $2,107 and consisted of cash and cash equivalents of $777 and prepaid expenses of $1,330."
Thats zero revenue, not zero income...
Yet, they just announced hiring a new CEO, who will be paid a $300,000 a year salary (plus potential 25% bonus). How are they going to pay this guy?
Well, according to the guy's CV, it would be like hiring Jack Welch to manage a local grocery store chain, so something is definitely up. The expertise listed equates to a lot more than $300K per, so he must be planning on this "shell" making a lot of money. The chart indicates this belief by the buyers also, otherwise how could it have the price support? Up another penny today.Quote from jordanf:
I couldn't help myself, had some time to waste.
From the 2004 Annual report:
"Management intends to review various assets for potential acquisition.
Specifically, we intend to pursue to potential acquisition of used car sales assets owned by PAACO Automotive Group L.P. On November 12, 2004, we entered into a non-binding letter of intent with PAACO Automotive Group L.P. providing for our potential acquisition of its assets that are necessary for the operation of its "Buy-Here Pay-Here" used car sales business."
From the 2005 Annual report:
"Management is reviewing various assets for potential acquisition. Specifically, we intend to pursue a potential acquisition of "Buy-Here Pay-Here" used car sales business."
Not a lot of progress in a year...
Other statements:
"Our cash on hand at November 30, 2005 was $777." (not in thousands)
"We did not earn any revenues from our inception on August 27, 2002 to November 30, 2005."
"At November 30, 2005, our assets totalled $2,107 and consisted of cash and cash equivalents of $777 and prepaid expenses of $1,330."
Thats zero revenue, not zero income...
Yet, they just announced hiring a new CEO, who will be paid a $300,000 a year salary (plus potential 25% bonus). How are they going to pay this guy?