Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: DLS who wrote (1183)	1/22/1998 11:41:00 AM
From: Brad Davies	of 18691

DLS, I agree, if you were to value a company like this it would be comparable to junk bond. As long as there cash flow remains stable, though, their return/cash flow will be good. It is not that easy to break laundry room contract lease. Most of the time they are registered on title, and must be assumed by purchasers of the property. It depends on the specifics of each agreement. Presumably, WDRY would be sophisticated enough to review these leases in the course of their DD on these companies, or else has some provision for adjustment to the purchase price for cancelled contracts. This is a simple and real business. It is not a scam or BS technology deal. There are far better shorts out there. Just my opinion. Regards, Ron

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