Cable Car Beverage (DRNK) Message Board

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Non-Tech : Cable Car Beverage (DRNK)

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To: hoopsville who wrote (152)	6/24/1997 9:44:00 PM
From: Steve Patterson	of 284

I would not buy Triarc at the current price, and have no confidence that its value late this year will be anywhere near the $20 it currently sits at. Even assuming $20 holds means they are only offering $3.44/share, which is ridiculous. This means one of two things: 1) There is something wrong with Cable Car that we don't know about. My due diligence (and the fact that local stores can't keep it on the shelves) suggest this is not the case. 2) The founders basically want to retire and cash out. Note that both Simpson and Rutter are very old, and Rutter is no longer involved in the company at all. Therefore, they probably just want to take their money and run. I believe this to be the case. I believe this to be an extraordinarily poor deal for the shareholders and will vote against it when the time comes. Still long, but angry, Steve

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