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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (36867)3/6/2010 10:02:34 AM
From: Grommit  Read Replies (1) of 78634
 
HPT. Thanks for the posts!! I'll sell my few shares. I kick myself because I did not look too closely at this one. There are issues with some hotel minimum payments too. Too many issues here. I won't put any faith in this either:

...can you just assure us that you’re current on TA and that they’ve paid interest on their deferred rent balance.

Mark Kleifges

Yes TA rents are current. They did take, the January rent that was due February 1 they did take advantage of the $5 million rent deferral and they also paid us $900,000 of interest for January.

David Loeb – Robert W. Baird

And just looking at their financials, they’ve got about $155 million of cash as of 12/31. It looks like they’re probably burning cash at least in the kind of quarter they had in the fourth quarter, and by the end of the year if they continue to defer they’ll have $150 million of deferred rent. What are your thoughts about what 2011 will look like for your investment in TA and what do you think happens on June 30 of 2011.

John Murray

We’re still hopeful that the economy is going to recover as we move through this year and that trucking is going to pick up. Trucking has been a leading indicator in the past and a wildcard is certainly where fuel prices are and that impacts TA’s business but we do believe that over the course of this year that fuel volumes which have already started to trend up will pick up and so we’re hopeful that TA gradually works themselves into a better financial position and that we’re hopeful that they’re able to repay us next year.
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