While I agree
The PR couldn't have been any worse, PSIX has had a long negative history with Wall Street, stemming from promises made and broken years ago.
I do not know who is responsible for the actual writing and distribution of company PR, but they should have been canned long ago. Unfortunately, much of the market is driven by perception, and management of the Street. IMO, Hyatt wanted to start with a clean slate and "manage these expectations" in his own way.
That is fine with me, and I agree with the REALITY of PSIX numbers...they are fine and growing in the right direction. However, management of message and investor relations for this company for the past 10 months has been abysmal at best.
And finally, yes, at these levels, PSIX would surely be an attractive take-out bt T, DT, BT or many others. However, there is a "poison pill" in effect (strike of $137 or so, if memory serves) and Schrader has mad PSIX independence abundantly clear throughout the years. |
