Boston Carriers Inc. (fka BSTN)

[satelliteguy]

Sorry, I was posting while on a conference call and was typing without engaging my brain. I meant 4-5 times earnings (what IPC generally calls "accrual-based profit").

The reason roll-up companies like IPC need to keep doing acquisitions is that they buy at 4-5 times earnings, and then the public market instantly values those assets much higher -- IPC's stock is currently trading at a PE ratio of 24, but the public demands continued revenue growth to fuel which can only be fueled by acquisitions.