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Non-Tech : ingles markets (imkta)
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To: Steven Dopp who wrote (7)2/9/1998 11:33:00 PM
From: virgil vancleave  Read Replies (1) of 10
 
i pretty much agree with your analysis on ingles, at least for the short term. i sold last summer when the company preannounced since i know that usually means a longer term slowdown has started. longer term though, i think ingles will be ok. they also own/run a dairy company which makes ice cream but i can't remember the brand name. growth looked pretty good in that business but unsure as of now. i haven't talked to my friends mom but i am sure she still works there. i won't see or hear from him for a few months since my submarine leaves for sea soon.
another reason i sold is that i noticed that management ownership in investors business daily went from 59 percent down to near 0 around the same time frame. i took a small loss on this one and sold at 12.

i also remember reading that ingles owns and leases a lot of buildings and land and since their underlying business is solid and they are profitable, the stock price probably doesn't reflect the "value" of all the land they own and bought in the early 70's and 80's. most of it doesn't even show on the books since it has been depreciated off.

good luck and hope this helps. i will try to get hold of my friend, but since my boat is getting ready for sea, i don't get much time.
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