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Re: None

Thursday, 01/23/2014 6:17:52 PM

Thursday, January 23, 2014 6:17:52 PM

Post# of 7895
You should still be angry...

...at this company's disregard for outside shareholders, its awful investor relations and shareholder communications, its inexplicable corporate governance (summarily hiring and firing outside executives and board members with no explanation), and its apparent self-dealing (paying for the grand kid's racing career in the US, and whatever nephews run the Kostecki Cafe, etc.). Don't act like neglected, starving dogs who finally got a few table scraps.

It takes years of a special kind of douchebaggery for a business posting spectacular operating results to trade at such an abysmal multiple.

The problem is that the share price is an after thought for the Kostecki clan. Whether it's at .20 or .80, Sport still gets his American racing career sponsored, Gene still gets his royalties, Gene Jr. still collects a salary, etc. If they're going to continue to run the company this way, the stock price will drift back down to the .40s by this time next year. They should make a tender offer for the outside shares at $2 or $3 and just run it as a family business. We should discuss ways to encourage them to do so.

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