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Would there have to be personnel changes to make them look better? I wonder about this, too. Management has a fair % of shares, as I remember--we can't just up and fire them. When looking at Pallet originally in Dec., I guess I made the judgement that they'd learned their lesson about getting over-extended because they were saying at the time that many of the pallet-banking centres would be joint ventures. We haven't seen that in a release for a while. To be fair to them, they did get caught in a squeaze with interest rates. Why they bought Industrial Packaging and then let it go a year later, I never did know. Also, as I understand it, they must grow the pallet-banking system to a workable size before it pays, as customers will want to ship all over without gaps in the system. PLT is trying to do much more than sell pallets, they want to put out a complete service, and there seems a lot of sense in this, eh? You're right though, at the end of the day, of all my turn-around stories (GTA, DEN, PLT, and now MPI) only Pallet still has the same people at the wheel when they had trouble.....But they are turning it around, the EPS are way better and seem set to improve, and I'm happy sitting on a whole whack of Pallet at an avg cost of a little over 30 cents....it just pissed me off that the day of the run-up to 39, the power and phone were out here, I knew that wouldn't last....but we'll see it again....see what happened with GTA today (yesterday ET)?....up 3 steps and down 2 steps.... |
