Autobytel Inc. (ABTL)

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The only thing that I heard different on todays webcast was the spot ads on the radio. I take you back to the old days when ABTL spent a ton of money on that nonsense before. ABTL was rolling in cash from their IPO and bought time on the Super Bowl ads. They did basically nothing.
Then, they started throwing money around here, there, and everywhere trying to get the publics attention. They even tossed a pile of money at one of the symphony orchestras. They only thing that they got for that was a seat in the audience for the CEO.

Right now, ABTL's stinking of desperation. Start spending their cash on this, that, and everything to try to squeeze out a few extra pennies on the bottom line. This isn't the way to run a business. The only good thing they had was a pile of cash, and now they're figuring out ways of eating that up. What it sort of comes down to is that there just isn't that much of a need for their business. Their main competitor, Autoweb found that out the hard way. They went out of business. This is a lot like Sirius radio and the old XMSR, a competitor of Sirius. XMSR finally had to sell out to Sirius. Just not enough of a market for their product.
No dividend, not much of a market, and the only thing that Coats can come up with is radio ads. I'm really finding it hard to see that ABTL has a great future. Todays CC only got one commentator, and he really sounded unhappy. If anyone sees any reason to stay invested here, please let me know. I'm ready to call it quits.

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