It's a cash generating machine for the portoneys. Almost any quarter since inception, FVE could have easily shown a profit, but the way the whole thing is structured, they just pay fees to RMR instead of dropping that to the bottom line.
I dumped this joke a long time ago, but like most of my purchases, I have to continue to watch them and see if I missed out on anything.
Million dollar loss is nothing. I believe they could have shown a profit, easily. They choose to continue the way they do.
Book value is probably well above 2x the stock price, so tell me why people avoid this thing like the plague. It's the corporate structure.
Mackey knows what he's doing. Collecting a huge paycheck to operate this very financially healthy company that pays exorbitant fees to RMR.
Best part for them is the share structure means that NOTHING can be done by shareholders to change anything.
When they decide it's time, the company will be bought by RMR for peanuts, then they will sell it to VC for 10x that amount or maybe they'll just take it public again and do the same thing again.
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