Thanks, Steve, a little luck won't hurt,and we all sympathize with your frustration. So long, and good luck.
I am interested in any prevailing opinions. My basis is below 7, I have held for about 11 months now, and it seems to me that the company is doing all the little things that need to be done for a turnaround. I never expected a quick turnaround, because the problems were significant, but it seems that (and I base more of this on the Moody's press release about Rays' debt,of a couple of months ago, and less on the company's own press releases) the closing of unprofitable stores, paying down debt, restructuring, and dealing with the inventory problems, etc. are the painful path to profitability. I have set a deadline for fall of 98, and I only expect about $11 per share but I think this will come, despte currency problems and everything else that may happen. I would love to hear opinions from the Rays "crowd" . I also may take 50% of the stock off the table, take a tax loss, which I fortunately need, and buy back in in Feb or March. I do not think anything will happen for at least another 6-7 months.Steve, we have appreciated your posts in the past. Gary C |
