Mike,
Thanks for the talk. I'll give my "little people" opinion. I also was motivated to go through the press releases and browse a little.
I am as confident as ever after a few hours. My main source of confidence is the agreement w/ Detroit Diesel. Second I have a friend who spent lots of time in Europe. His thought is that Europe has a real problem w/ diesel truck pollution. "They don't have a choice" but to do something.
Before more here's my thought on trading Fri. We little people are fighting an inclination to salvage whatever profits we can or get out with as little a loss as possible. Me personally, I'm prepared for another ride at the 2 level. I don't mind. But I do think it'll boom or bust in the next year and a half or so. Well I'll probably pick some more up at 2. For now I'm just going to wait for some sales and if we don't get to 2 I won't buy again. So why this alleged misguidedness?
I don't see a stock swindle. I see a company which is trigger happy with news releases. It would be nice if they waited for a check to clear before talking about the deals. SAAB was announced in 96 for
a year 2000 production vehicle??? for example.
I saw 4 or 5 competitors but I like TRBD more because of the agreement with Detroit Diesel. It's their engines we're retrofitting so why not go with their recommendation. I couldn't find the dates for compliance with the retrofit program but those sales should kick in soon. Testing seems to have started only in Oct. 97 for UBP. Looks like great results and the EPA is on board and we're only 8 or 9 months into the testing.
I think we may see something out of VW through Hofbauer also.
In fact I thought the undisclosed European manufacturer was VW.
The day of Asensio's press release I thought (after an initial shock) that this is going to get us some good attention and sooner or later one of the real analysts is going to initiate w/ a strong buy.
So I think the players will play but the reason to be long is still there, earnings growth potential.
Also here's something I came across which could help earnings in 2nd
half 98. I'll probably call IR or something and see if Turbodyne is/was involved here.
New Jersey to equip public sector trucks and
school buses with catalytic converters
February 9, 1998
An estimated 10,000 diesel-powered trucks and school buses owned by municipal, county and state
governments and public sector agencies in New Jersey will be retrofitted with catalytic converters to clean
their exhausts and take 530 tons of pollutants out of the state's air annually, Governor Christie Whitman
announced today.
The statewide diesel truck and school bus retrofit program, the first of its kind in the nation, is a
voluntary effort which New Jersey developed and proposed to the federal Environmental Protection
Agency and Federal Highway Administration, Whitman noted.
The governor announced the program as the state began soliciting bids for vendors immediately following
final approval from the EPA and FHWA. Installation of the catalytic converters is expected to begin in
the second half of 1998.
"This is an issue of tailpipe equity," Whitman said. "We must ensure that every tailpipe, be it car, bus or
truck, emits the smallest amount of pollution possible into our state's air. We must all be participants in
the effort to clean our air.
"New Jersey is not under any obligation to do this program," the governor stressed. "There is no
mandate. We created the program and we have set the bar high. More stringent emissions tests are on the
way for New Jersey's automobile owners and it is only proper for government to be a willing partner and
participant in the effort to clean the air."
All diesel-powered trucks owned by governmental and public sector agencies weighing more than 18,000
pounds and built prior to 1994 will be eligible to participate in the retrofit program.
Diesel-powered buses owned by school districts also are eligible. The devices will be provided and
installed free-of-charge.
Assuming full participation, 400 tons of volatile organic compounds and 130 tons of particulates will not
be emitted into the atmosphere each year. Only emissions control technologies already certified by the
EPA for urban bus use are eligible for use in the truck program.
"I urge all public sector agencies with diesel trucks and school districts to participate," Whitman said.
New Jersey will receive a 50 percent volatile organic compounds reduction credit and a 20 percent
particulate matter reduction credit for each truck retrofitted, under an agreement with the EPA. The
program is being funded through an $18 million grant from the FHWA.
New Jersey has several efforts underway in an overall, comprehensive program to reduce vehicle
emissions and improve air quality in the Garden State.
Truck emissions are currently being checked under a random roadside inspection program involving
private sector vehicles. Beginning in April, trucks which fail to meet emissions standards will be subject to
fines. Truck diesel emissions test centers are presently being licensed by the state to perform annual
exhaust tests on all trucks based in New Jersey and also for the retesting of trucks which fail the roadside
inspections. The test centers will issue stickers upon passage of the emissions test. The annual truck
emissions test program will begin in July.
A pilot program for the enhanced auto emissions test began last November at two Division of Motor
Vehicles inspection lanes and is continuing.
Contact: Jeff Lamm, (609) 292-5203
Source: NJDOT |
