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Or whoever it was is now cleaned out. With only about a 3M float it should begin to trade nicely once again as it should with such nice numbers and growth prospects.
He was just hypothesizing who it may be. It could also be someone who bought during merger and is tax selling. Look at offer .065 then .14 Once whoever this seller is gets cleared out should move quickly to true valuation at .50+ imo
True...as there really arent any shares out there and a small float. So if they cancelled them the quicker we move higher. If not someone is getting a real good deal down here accumulating them, that's for sure.
SSGI seems to be wanting to scoop up their shares here. Yes these current levels are ridiculous, this is a great value play and a very profitable company. Once they're out of the way I would expect this to pop quickly back to more reasonable levels (at a minimum to where it was trading post merger .50+)
so will DSHL, heavily undervalued when looking at the latest 10Q.
Recent 10Q: http://ih.advfn.com/p.php?pid=nmona&cb=1228774680&article=29422144&symbol=NB%5EDSHL
GNW has been a beast
Nice News out this morning. DIAS just continues on growing and extending its tentacles!!!
Detroit International Auto Salon Signs Strategic Alliance With China International Auto Parts Expo -- Another Success for Wayne County Economic Development's (WCED) Annual China Delegation
Wednesday December 10, 6:00 am ET
ALLEN PARK, MI--(MARKET WIRE)--Dec 10, 2008 -- DIAS Holding, Inc. (OTC BB:DSHL.OB - News) disclosed today the signing of a preliminary strategic alliance agreement between its Detroit International Auto Salon (DIAS) subsidiary and the organizers of the annual China International Auto Parts Expo (CIAPE) that was concluded at Wayne County Delegation's Investment Promotion Seminar in Beijing. "This event was one of the major highlights for our 36-person delegation visiting Shanghai, Wuxi, Chongqing, Changchun and Beijing, where we were greeted by mayors, directors, CEOs of top businesses, and other government officials. This was our fourth annual trade mission," stated Dr. Mulugetta Birru, Director of WCED.
DIAS-CIAPE Strategic Alliance Signing Ceremony --Beijing, China Photo provided by DIAS Holding, Inc.
CIAPE is the largest annual exhibition of China's growing automotive industry businesses, with an estimated 2,500 exhibitors spanning 100,000 square meters showcasing the products and services from the 12 automotive production bases certified by the Chinese government in Changchun, Tianjin, Shanghai, Chongqing, Wuhan, Wuhu, Taizhou, Xiamen, Baoding, Guangzhou, Hefei and Liuzhou. This year, CIAPE was held at the new China International Exhibition Center, capable of handling the +100% expected increase in exhibitors verses 2007.
"CIAPE is sponsored by the Ministry of Commerce," stated Michael Wesney, President of DIAS. "According to their regulations, admittance to CIAPE by China's domestic automotive enterprises is based upon reaching a certain business scale and absence of any record of infringement on intellectual property rights. This is a significant step by the central government to validate the legitimacy of these businesses to the international marketplace," he added.
"Over several months, we established a mutually beneficial model in which our DIAS subsidiary will facilitate networking U.S. companies into the CIAPE organization, and the CIAPE organizers will promote exploring the North American market through DIAS," announced Eric Huang, Chairman & CEO of DIAS Holding, Inc.
http://biz.yahoo.com/iw/081210/0459208.html
All auto related stocks are rebounding hard this morning with bailout passage, keep an eye on DSHL as it will soon follow. It is currently heavily undervalued especially when looking at the latest 10Q.
I knew this one would pane out nicley with just some patience.
Key Points to consider....
** November announced 3rd quarter sales topped $12 million, on pace to break 2007 sales of $14.5 million
Note: Market cap is only around $7 million for this company right now! Also note that Autozone (AZO) and TATA Motors (TTM) have a current P/E of 12 and 4 respectively. Not to mention the expansive growth in revenue DSHL is expecting. Do the math and you will see why DSHL should be at .50+
** Detroit Auto Salon just passed 118 exhibitors in their 365 day a year auto mall
Note: Company is trying to model after the Tianjin Auto Park in China which did $735 milllion. They have agreed to cross promote with other auto shows including www.gasgoo.com which is China's largest automotive B2B marketplace. DIAS footprint into the US market is starting to give them the recognition and edge to succeed as a player in this sector.
** DIAS announced intentions to allow one of India's leading suppliers to showcase at the mall.
Note: The future of the US market is changing as other foreign competitors enter the market this is a win-win situation for DIAS as a one source stop to connect to all the part manufacturing worldwide.
You happen to see this interview with the vice chairman?
http://videos.streetfire.net/video/SEMA-2006---StreetFirenet-interviews-Componus-abo_83678.htm
Cliff Nakayama
Vice Chairman of DIAS
Mr. Nakayama served as CEO of Asia Forging Supply Company and Componus from 2003 to 2006.
Prior to that, he was vice president and product linegeneral manager for BAE Systems (formerly FMC/United Defense Industries). Mr. Nakayama serves on the board of directors for companies in Asia, and utilized his spare time as Scoutmaster for a special needs Boy Scout troop. He resides in the San Francisco Bay Area with his wife and three children. Mr. Nakayama received his Bachelor of Science degree from the U.S. Military Academy, and a MBA from Pepperdine University.
Some positive news for DSHL here, even tough they were a winner here either way due to their large aftermarket parts exposure as well
Deal reached in principle on $15B auto bailout
White House, Democrats reach agreement in principle on $15 billion bailout for automakers
Julie Hirschfeld Davis, Associated Press Writer
Tuesday December 9, 2008, 10:39 pm EST
WASHINGTON (AP) -- Weary Democratic congressional leaders and White House officials agreed in principle Tuesday on a $15 billion bailout of U.S. automakers that would give the government extraordinary power to restructure the failing industry. But the rescue faced snags as Republicans raised deep concerns.
Congressional aides and a senior administration official said the proposed deal would speed the loans to Detroit's struggling car companies and place a "car czar" named by President George W. Bush in charge of overhauling the auto industry. Congress could vote on the plan as early as Wednesday and the money could be disbursed within days.
A breakthrough came when negotiators reached a compromise to require the czar to revoke the loans and deny any further federal aid to automakers that don't strike a deal with labor unions, creditors and others to ensure their survival by next spring -- essentially pushing them into bankruptcy.
"A great deal of progress has been made on auto legislation that will protect the taxpayer and ensure that short-term financing is available only to companies prepared to undertake the dramatic restructuring necessary to become viable and competitive," Dana Perino, the White House press secretary, said late Tuesday.
Earlier in the day, Rep. Barney Frank, D-Mass., the Financial Services Committee chairman, said the remaining issues were minor.
"There do not appear to me to be differences in principle of a sufficient nature to blow this thing up," said Frank, whose staff is helping to draft the bill.
Still, staff aides worked into the night fine-tuning legislative details of the agreement. It could face substantial obstacles from congressional Republicans, who remained skeptical of the White House-negotiated plan. A group of conservatives led by Sen. John Ensign, R-Nev., has threatened to block the measure.
A further stumbling block was Democrats' refusal to scrap language, vehemently opposed by the White House, that would force the carmakers to drop lawsuits challenging tough emissions limits in California and other states.
That measure "kills the deal," said Dan Meyer, Bush's top lobbyist.
Senior Democratic aides acknowledged as much Tuesday and said they expected the provision to ultimately be dropped.
Environmentalists, who count House Speaker Nancy Pelosi, D-Calif., among their closest allies, already were irate that the bailout uses money set aside for a program to help the automakers finance the retooling of their factories so they could produce greener vehicles.
Another remaining hang-up was over ensuring that Cerberus, the private equity firm that owns Chrysler LLC, would reimburse the government if the auto company defaulted on its loan, said a congressional negotiator who spoke only on condition of anonymity because he was not authorized to disclose details of the emerging deal.
But the White House and congressional Democrats resolved other major conflicts. Democrats said they were willing to toughen the measure to require that the czar revoke loans from car companies that couldn't show they were viable by the end of March -- rather than simply allowing the overseer to take back the money.
That would essentially let the czar force an automaker into bankruptcy if it didn't present a feasible restructuring plan.
They were also near agreement to weaken a proposal to give the czar veto power over automakers' business transactions -- something the White House and automakers had said was unworkable. They were discussing giving the overseer say-so over transactions of $100 million or more, instead of putting the limit at $25 million.
Even if they seal the deal, though, conservative Republicans who want to force one or more of the Big Three into bankruptcy warned they might try to block the measure, virtually guaranteeing that it will need a 60-vote majority to pass and possibly delaying approval for days.
"I think that not only myself, but several of us will be looking at possibly blocking this package," Ensign told CNBC.
The measure would be open to Detroit's Big Three, but is expected to provide emergency loans only to General Motors Corp. and Chrysler, which have said they could collapse within weeks absent federal help. Ford Motor Co. has said it doesn't need an immediate cash transfusion, but wants a $9 billion line of credit to insulate against further deterioration in the economy.
The rescue took shape with the nation in recession, Congress and the presidency both in transition, Wall Street ricocheting daily and the Federal Reserve and Bush Treasury Department fighting to steady the reeling financial industry.
Sen. Mitch McConnell, R-Ky., said he was concerned that Democrats were proposing a package that "fails to require the kind of serious reform that will ensure long-term viability for struggling automobile companies."
With their approach, "we open the door to unlimited federal subsidies in the future," McConnell said.
Getting 60 votes for an agreement, with many senators expected to be absent for the emergency, postelection debate, could be tricky.
Said Sen. Carl Levin, D-Mich., an ally of the auto industry: "This gets us to the 20 yard line, but getting over the goal line will take a major effort, particularly in the Senate." He called for Bush and President-elect Barack Obama to lobby personally for the auto bailout.
The legislation under discussion would attach an array of conditions to the bailout money, including some of the same restrictions imposed on banks as part of the Wall Street rescue. Among them are limits on executive compensation, a prohibition on paying dividends and requirements that the government share in future profits and taxpayers be repaid before any other shareholders.
Also included in the plan is a requirement that the carmakers taking federal aid get rid of their corporate jets -- which became a potent symbol when the Big Three CEOs used them for their initial trips to Washington to plead before Congress for government assistance.
Democrats also inserted a provision in the bill to bail out some of the nation's largest transit systems. The bus and rail systems could be on the hook for billions of dollars in payments because exotic deals they entered into with investors -- which have since been declared unlawful -- have gone sour with the collapse of American International Group Inc. and other financial institutions.
http://finance.yahoo.com/news/Deal-reached-in-principle-on-apf-13790495.html
Congress, White House push to finish auto aid plan
Associated Press Writer Julie Hirschfeld Davis – 1 min ago
http://news.yahoo.com/s/ap/20081209/ap_on_go_co/congress_autos
WASHINGTON – Congress and the White House pushed to clear the final obstacles to a $15 billion bailout of the auto industry on Tuesday, seeking agreement by day's end followed by swift passage.
The unresolved issues included the precise extent of the authority to be given to a powerful new auto czar named by President George W. Bush, according to congressional aides, although it was clear the companies could be forced to return any aid if they did not use the money to ensure their long-term survival.
Rep. Barney Frank, D-Mass., the Financial Services Committee chairman, privately briefed House Democrats on the emerging deal Tuesday and told reporters afterward that he expected to seal it by day's end.
"The room was pretty supportive" of the developing bill, Frank said.
Senate Majority Leader Harry Reid said he hoped for a vote by Wednesday, but would keep the Senate in session through the weekend if necessary to complete work on the bailout. Democrats and White House officials traded legislative proposals behind the scenes, closing in on agreement.
The core of the bill — and its aim — was not in dispute. It would provide emergency loans to two of Detroit's Big Three auto makers — Ford Motor Co. has said it doesn't need an immediate cash transfusion — and create a presidentially named "car czar." The federal overseer would supervise a broad industry restructuring and would be empowered to yank the money back if the carmakers weren't doing enough to ensure their own survival.
The fast-paced developments come amid an environment of general economic instability, the Congress and the presidency both in transition, a ricocheting Wall Street and the Federal Reserve Board, Treasury and other agencies fighting to steady the reeling financial industry.
A final deal hinged on only a couple of outstanding issues, Reid, D-Nev., said.
"We would hope that we could complete work on this Detroit situation tonight or tomorrow," he said on the Senate floor.
Still, the few differences remaining were significant. The White House and congressional Republicans were demanding tougher consequences for carmakers that couldn't prove to the government they were viable, including a requirement — rather than an option — for them to be cut off from federal aid.
Republicans also were demanding that Democrats scrap a requirement that car companies getting loans drop their lawsuits against states that impose tougher emissions standards than the federal rules.
Sen. Mitch McConnell, R-Ky., said he was concerned that Democrats were proposing a package that "fails to require the kind of serious reform that will ensure long-term viability for struggling automobile companies."
With their approach, "We open the door to unlimited federal subsidies in the future," McConnell said.
The White House has said it shares those concerns.
"There will not be long-term financing if they can't prove long-term viability," White House Press Secretary Dana Perino said.
She said the White House and Congress have made a lot of progress.
"I think overall we're headed in the right direction," Perino told reporters aboard Air Force One as President George W. Bush headed to West Point, N.Y., for a speech.
"We're working fast. but we're also wanting to get it right," she said, adding that "I don't know if we'll have something finalized today. It's possible."
Even then, it was far from certain that proponents could muster the votes to push yet another bailout through a skeptical Congress. With some senators in both parties expected to be absent for the debate, garnering the 60 votes that would likely be necessary to pass the bill could be tricky.
Sen. Carl Levin, D-Mich., a key ally of the auto industry, said getting the roughly 15 Republicans needed to support the plan was an uphill battle.
"This is a real hill to climb even if we can get agreement between the White House and congressional leaders," he said.
Reid said the timing of an auto rescue vote is uncertain, partly because lawmakers are still waiting on the White House to decide whether to request the second half of a $700 billion Wall Street bailout fund. "That decision has not been made yet," he said.
The current Congress is ready to depart for the year after this week, with the auto bailout legislation among the only things delaying lawmakers' abbreviated winter break.
Cash from the Big Three bailout would immediately be plowed into General Motors Corp. and Chrysler LLC. Ford has said it does not have an emergency cash-flow problem and that it would not ask for short-term assistance. The czar would come up with terms for restructuring the beleaguered firms by Jan. 1, 2009.
Democrats have already given in to the White House on a key element of the measure — drawing the money from an existing loan program meant to help carmakers finance the production of greener cars.
The proposal would attach an array of conditions to the auto bailout money, including some of the same restrictions imposed on banks as part of the Wall Street rescue. Among them are limits on executive compensation, a prohibition on paying dividends, and requirements that the government share in future profits and taxpayers be repaid before any other shareholders.
The proposal gives the car czar say-so over any major business decisions by the automakers while they're taking advantage of federal aid. The companies would have to open their books to the government, including informing the overseer of any transaction of $25 million or more.
Also under discussion is a requirement that the carmakers taking federal aid get rid of their corporate jets — which became a potent symbol of the industry's ineptitude when the Big Three CEOs used them for their initial trips to Washington to plead before Congress for government assistance.
Under the Democrats' proposal, if the Big Three didn't come up with suitable restructuring plans by the end of March, the czar would have to submit his own blueprint to Congress for a government-mandated overhaul.
Autozone (AZO) flying.....this definately has alot of room to make up to the upside, just a matter of getting eyes on it as it is truly undervalued especially when considering their current and future growth/revenues.
Exactly, in all honesty this should be trading over $1 but definately at 50 cents or higher for sure when looking at forward earnings and future growth.
Looks like DIAS is holding an expo...
http://www.detroitautosalon.com/Visitors/news-view.asp?NID=138
DIAS EXPO is a brand new concept with an innovative flare, and festive exhibitions. It combines the best features of various auto part shows from around the world, similar too the Tokyo Auto Salon, SEMA, and APPEX shows.
DIAS EXPO will be held from April 20 - 25 in the Greater Detroit area at the same time as the SAE show and near the same city as the SAE show.
Just like SEMA and APPEX shows happened at same time, and in the same city.
DIAS EXPO will invite many suppliers for After-Market and Special Equipment manufacturers to come to Detroit to showcase their products to the global consumers.
DIAS EXPO will invite purchasing delegations from around the world to come and participate in this unique event.
DIAS EXPO will serve both the retail and wholesale markets.
DIAS EXPO will provide music, and include refreshments and appetizers at no charge.
DIAS EXPO is opened to the public at no charge. No ticket needed. Men, women, young and old, students and teachers are all welcome.
DIAS EXPO will include many special promotion activities like spot sales, seasonal clearance, and factory outlet pricing for AM and personalization items.
DIAS EXPO will hold organized networking events and social activities. Market trend and technical forum will also be included.
Brief Introduction
DIAS EXPO will demonstrate a different kind of exhibition with various auto parts, modification kits, modular, performance parts and recreation vehicles like ATV, motorcycles and bicycles.
A fun and exciting event for all to enjoy.
Dates and Time
Apr.20-23, 2009
Place
Detroit International Auto Salon
16630 Southfield Road, Allen Park, MI 48101
By I-94 and at the intersection of 39 .
Transportation
DIAS EXPO will have shuttle bus service from and to airport, Cobo hall and most of major hotels in the greater Detroit area.
Cost for Exhibition Space
USD $2,600 for 10x10 standard booth.
Setup cost USD $1,000. for standard booth.
Auto Rescue Plan On Way To White House For Review -Source
Not that it matters for DSHL either way as they benefit both from production and used auto parts markets. But of course would be a positive if the bailout goes through as that means even more revenues for DSHL!!
US Rep Frank: Deal On Short-Term Auto Bailout Likely By End Of Day Mon-CNBC
Maybe over $3 today?
Some nice open gaps to the upside on GNW daily
4-5 is next stop.
Looks like the automakers will be getting some help. Then when Obama comes he will give them even more help as he is in support of the bailout.
White House: Constructive auto talks with Congress
Saturday December 6, 11:38 am ET
By Julie Hirschfeld Davis, Associated Press Writer
White House says auto talks are constructive, rejects using Wall Street rescue for Big 3
WASHINGTON (AP) -- Facing massive job losses, the White House and congressional Democrats are negotiating a deal to provide about $15 billion in loans to prevent Detroit's weakened auto industry from collapsing.
The White House said it was in "constructive discussions" with lawmakers in both parties to dole out the assistance as House and Senate staff aides worked through the weekend drafting bailout legislation that is expected to come to a vote next week.
A breakthrough on the long-stalled rescue came Friday when House Speaker Nancy Pelosi, D-Calif, yielded to President George W. Bush on a key point: allowing the aid to be drawn from a fund set aside for the production of environmentally friendlier cars.
White House press secretary Dana Perino said that was central to any agreement, along with requirements that the carmakers swallow tough business decisions and taxpayers be protected.
"Taxpayers should not be asked to finance assistance for automakers without a strong likelihood that they will be paid back," Perino said in a statement before Bush left Washington to attend the Army-Navy football game in Philadelphia.
Pelosi said the House would consider legislation in the upcoming week to provide "short-term and limited assistance" to the U.S. auto industry while it undergoes "major restructuring."
"Congress will insist that any legislation include rigorous and ongoing oversight to guarantee that taxpayers are protected and that resources are directed to ensure the long-term viability and competitiveness" of the industry, she said in a statement Friday. The Senate is also scheduled to be in session next week.
The legislation being developed this weekend would act as a lifeline to General Motors Corp., Ford Motor Co. and Chrysler LLC while meeting demands from many skeptical lawmakers that Congress refrain from writing a blank check for the beleaguered industry.
Pelosi, a close ally of environmentalists, had steadfastly refused to tap an existing $25 billion auto loan program -- meant to finance the production of more fuel-efficient vehicles -- for emergency aid to the carmakers. But Bush refused to use money from the $700 billion Wall Street bailout to help the Big Three. With time running out on the current Congress and the automakers' situation increasingly dire, the window for an agreement was quickly closing.
Pelosi spoke to White House chief of staff Josh Bolten on Friday to signal her change in position, several officials in both parties said.
She said the billions of dollars set aside to modernize plants and develop green cars would be repaid "within a matter of weeks." Democrats said her hope was to include the funds in an economic recovery bill that lawmakers are expected to prepare for President-elect Barack Obama shortly after he takes office Jan. 20.
Officials in both parties said the legislation would include creation of a trustee or group of industry overseers to make sure the bailout funds were used by automakers for their intended purpose. The funds are designed to last until March, giving the incoming Obama administration and the new Congress time to consider the issue anew.
One senior Democratic aide said Pelosi wanted to bar the automakers from using any of the funds to pursue a legal challenge to states seeking to put in place tougher auto emission standards. The aide spoke on condition of anonymity because the legislation was not yet drafted.
The discussions came hours after the government reported that employers slashed 533,000 jobs in November, the worst single month's job loss in 34 years. Bush warned that at least one of the automakers might become a casualty of the severe economic crisis.
Top executives from the Detroit automakers spent two consecutive days on Capitol Hill pleading for $34 billion in loans to help the industry survive. GM and Chrysler said they needed a combined $15 billion to help them maintain their operations through early 2009. Ford wants access to a line of credit of up to $9 billion but only if market conditions deteriorate.
Detroit's automakers employ nearly a quarter-million workers, and more than 730,000 others produce materials and parts for cars. If just one of the automakers should declare bankruptcy, some estimates put U.S. job losses next year as high as 2.5 million.
Associated Press writers David Espo, Ken Thomas and Ben Feller contributed to this report.
GNW has some nice upside gaps on the daily.
Yes GNW will squeeze hard just like HIG did. Like I said I see 4-5 easy.
I have a feeling the automakers are going to get some money out of this....bodes well for DSHL. Like I mentioned earlier DSHL is positioned to benefit from new production as well as from the Used Parts market. So either way it's a win-win situation for them!!!
HIG and LNC flying today. GNW will be next, just need some good press on it and it will fly to 4-5 easy imo.
yeah not sure. Don't think it would be shorters either, I mean if that was the case they aren't too smart lol.
Yeah need some good 500k - 1M plus days and we should be good especially with the low float and share structure here
And the big thing is this is not a fly by night company, they have been around for some time and are putting out some real good numbers. Only a matter of time imo before this gets the attention of some large players looking for good value plays.
5 and 20 day ema's about to cross to the upside here as well from a technical standpoint. Looking good.
Tata Motors (TTM) moving today as well. Seems as these auto stocks are really starting to perk up....
Carmax (KMX) moving as well.
yes seems alot of shares were accumulated at $1.40 all day yesterday. This is greatly undervalued when one just looks at GNW's assetts. Could even see a buyout due to this being so cheap right now.
Pyramid Provides Operational Updates
Tuesday November 18, 9:28 am ET
HOUSTON, TX--(MARKET WIRE)--Nov 18, 2008 -- Pyramid Petroleum Inc. ("Pyramid" or "the Company") (CDNX:PYR.V - News) today announced that 40% of its production in the Gulf of Mexico is back on line following the damage caused by Hurricane Ike as previously announced on September 24th, 2008. The remaining 60% is expected to be on line by late December 2008. Specific operational updates are as follows:
1. Green Canyon 53/52/184
These platforms sustained damage due to Hurricane Ike. Pyramid immediately undertook efforts to secure and repair the platforms and return the wells to production. Pyramid's share of estimated costs for repairs was approximately $2.1 million. The company is to pay roughly half of this with the balance to be paid by insurance. Production is anticipated to be on line in late December. The Green Canyon Blocks are located in 570 to 1,760 feet of water in the Gulf of Mexico and produce approximately 2,200 bopd and 4,000 mcfd gross. Pyramid's working interest share is roughly 550 boepd. The design capacity of the platform facilities located in Block 52 is approximately 55,000 bopd and 125,000 mcfd. Produced oil is shipped through a 30 mile 12" line in which Pyramid owns a 19% interest. The gas is marketed through a third party gas line. Pyramid has working interests ranging from 16.5% to 25% in the Green Canyon wells, the platform facilities, and the roughly 15,000 acre leasehold.
2. Green Canyon 184 well work over program
Pyramid will resume its work over program once production is restored. The program at Green Canyon 184 consists of 8 wells 2 of which were completed prior to the interruptions by Hurricane Ike.
3. High Island 160
The platform sustained damage due to Ike. Production has now been restored and the Block is producing about 1,500 mcfd. Pyramid's estimated share of repair costs was approximately $800,000 all of which has been paid to date. High Island 160 is located in 55 feet of water with Pyramid holding a 50% or roughly 125 boepd working interest in the Block.
4. Vermillion 331/MU804
The platform and pipeline sustained damages due to Ike. The cost to Pyramid was 200,000. Both the Blocks are now producing with Pyramid's working interest share being 12.5% or approximately 275 boepd.
5. Three Well Exploratory Drilling Program
The three well exploratory drilling program, announced earlier this year, was postponed due to Hurricane Ike. The program will commence in mid December. Pyramid has a 10% interest in the program.
Pyramid Petroleum CEO Ilyas Chaudhary stated, "After sustaining damages due to Ike, I am pleased to see the success our operations team accomplished thus far in bringing production back on line in such an efficient manner. I feel confident we will continue to see Pyramid moving forward with additional production coming back on line at Green Canyon as well as the drilling and work over programs."
Pyramid Petroleum Announces Appointment of New Chief Financial Officer
Monday November 3, 12:51 pm ET
HOUSTON, TX--(MARKET WIRE)--Nov 3, 2008 -- Pyramid Petroleum Inc. ("Pyramid") (CDNX:PYR.V - News) today announced that it has appointed Jim Frazier as its new Chief Financial Officer. Mr. Frazier replaces Mansoor Anjum, who has resigned as Chief Financial Officer, leaving the Company to pursue other opportunities.
Mr. Frazier is a financial executive with over 20 years experience within the commercial and public sectors. Formerly, Mr. Frazier was Executive Director and Manager for Red Rock Capital, an Oklahoma based commercial lending and leasing correspondent. Mr. Frazier also served as Chief Financial Officer for a Bulletin Board NASDAQ listed international oil and gas company, from 1997 to 2002. Mr. Frazier was also a Vice President with Chase Manhattan Bank from the early 1980s to early 1990s, working primarily in securities and later commercial lending and credit services. Additionally, Mr. Frazier served on the Board of America's Challenge, a non-profit charitable organization. Mr. Frazier earned his B.A. degree in Economics and English from Fordham University in NYC.
Pyramid Petroleum CEO Ilyas Chaudhary stated, "The appointment of Mr. Jim Frazier as CFO will provide both continuity and excellent financial management experience to Pyramid's management team as we pursue our corporate objectives."
About Pyramid Petroleum
Pyramid Petroleum Inc., with its headquarters located in Houston, Texas, is an oil and gas exploration and production company with substantial upside through its strategically located operations in the Gulf of Mexico. Shares of the Company are traded on the TSX Venture Exchange under the symbol "PYR."
yes and I just read this:
Wagoner was a bit more strident: he is warning Washington that if he doesn’t get a minimum of some $10 billion in the next few weeks, General Motors will go bankrupt. Practically speaking, this does not mean that they will stop making cars. Rather they would in all probability stiff pensioners and share and bondholders.
So as you can see even with GM, for example, if they were to go BK they will still be producing cars and needing parts from suppliers such as DSHL!!
Exactly, a perfect business model that capitalizes and works in all economic conditions.
Even if there is no bailout plan DSHL is still perfectly positioned in the used autoparts market as well. In addition if there is no bailout there will be mergers etc. from the big 3 imo. So no matter what happens I believe DSHL comes out a winner in any situation.
I am thinking the automakers will get the bailout money. Maybe then people will start to realize that now is the time to grab DSHL while it's still under $1 But even without this bailout it wouldnt have hurt DSHL to a great extent due to their business model and the way they are segmented in several niches including the used auto part industry.
Couldn't have said it any better. With the small float here it won't take much to drive prices back up to the .40 -.60 area where it should be right now considering their recent 10 and their future outlook.
Once we get the right eyes on it there is no doubt it will be a rocket. It's heavily undervalued at current levels from both a technical and fundamental viewpoint.