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Non-Tech : Central Garden & Pet Co. (Nasdaq : CENT)
CENT 32.41-0.8%Dec 29 3:59 PM EST
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To: Dale Stempson who wrote (31)7/13/1999 4:28:00 AM
From: Paul Weiss  Read Replies (1) of 73
 
Dale-- I don't want to rain on anyone's parade, especially after a deluge like Monday's. But... I see nuthin' but trouble for CENT shareholders, and worse, all these woes can be laid at the feet of management. Management's solution to everything is buy back more shares, even if they have to increase debt to buy 'em. Basically they have propped up a falling stock, time and again, with more buybacks at prices above the following month's prices. Meanwhile, we see net sales of insiders. Not good. The legal vulture's are circling, expect a multitude of class action lawsuits that will tie up the decision makers when they NEED to be making important decisions and deals. The best hope I can see is that book value is true value and someone will acquire CENT at a small premium. Sorry, Paul
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