Well, I own 100 shares of STAY and just received the 1996 proxy and annual report. After reading through all the material, I am seriously thinking about stepping up my investment in this company. Some of the positives I can see are as follows:
1)Insiders own large percentage of the stock(33.5%)
2)Mr. Johnson, the CEO, after receiving 200K in salary for 95 and 96, receives $0 for salary and bonus for 1997. The only way he does anything this year is if the stock does well.
3)This business plan seems like a "can't miss", since the demand far outstripps the supply for extended stay type lodging.
4)Wayne Huizenga is the Chairman of the Board. 99% of everything Mr. Huizenga has been involved with has performed spectacularly. I know, some of you might say look at Discovery Zone, but that was ONE deal. I would rather look at BLockbuster, Waste Management, and of course, Republic Insdustries instead.
5)No debt, excellent management team, and also, George Soros will be a business partner if you decide to invest in this!
Any comments would be appreciated. I would like to get this discussion started! Good luck to everyone.
Steve |
