Does any one know who bought out Able Telecom Holding Corp
Charys, President Billy rays last company ? Is Able Telecom or the Corporation that bought them still in business ??
Correct me if I am wrong but weren’t they bought out by Bracknell Corporation for shares of Bracknell stock which is now completely worthless.
I’m not trying to rain on your paraded here and congratulations to all longs who have made money. I’m looking at buying as well if I have not missed the boat, I will let the market tell me if I have.
As far as C and Bs earnings are concerned they are defiantly driven by hurricanes and Katrina was like manna from heaven for them.
C and B is located in Port Neches Texas which is maybe 4 hours away from New Orleans and 5 or six hours away from Gulf Port Mississippi were they landed a lot of work. After loading up on hundreds of millions of dollars worth of emergency work at Hurricane Katrina, Hurricane Rita formed and hit at Port Neches directly , which is right in C and B’s back yard. This is a situation that may not happen again any time soon.
It seems to me that C and B will be the dominate player at Charys as far as earnings go but what if there is a dry spell in Hurricanes for a year or two? Also in Florida many commercial property are now going without insurance because they cant afford it. You can bet that most of C and Bs spectacular earnings are dependent of insurance settlements.
Does any one know how much Charys stock was given up and what type of promissory notes were given to C and B in the merger. Did Charys given guarantee of stock price performance to them ?
