Replies to post #98 on Greystone Logistics Inc. (GLGI)

[Enterprising Investor]

Keep your eye on the ball.

How much would Warren Buffett pay for a low-tech business producing $2.3 billion in income? Now change the "b" in billion to a "m".

GLGI generated $2.265 million in income in 2013. The business has a market value of only $9.76 million (fully-diluted basis at $.36 per share). This comes out to a earnings yield of 23.21 percent, which, of course, translates into a PE of 4.3.

The savings is irrelevant. Management will actually be stealing the business from tendering shareholders.

Those with degrees from the Cox School of Business are generally pretty sharp.