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Strategies & Market Trends : Value Investing
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To: James Clarke who wrote (10026)2/21/2000 9:08:00 AM
From: Terry Lyon   of 78666
 
Your points on PBY are valid. However, if the market turns down and investors feel poorer they'll buy fewer new cars and take their old clunkers in for service or perform the work themselves. PBY is open for service 7 days a week and are relatively inexpensive when I price compare for parts and service. Also, PBY is expanding on the service theme, which may pan out. Another plus is PBY is largely owned by their employees. Finally, PBY may be a takeover target.

I have personally used PBY for parts and service. Parts prices are reasonable but there is lots of competition and slim margins here. Service has been OK with a couple of screwups which is par for most service work.

I figure the stock price is still sliding negative and may go below $5 where the company would be selling for 30-40 cents on the dollar. You're right this is still a gamble, but a shake of management might bring new life to PBY. At recent prices shareholders may demand changes.
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