I am still holding all of my shares, but not adding any more money to RAIN. The site I have been working on for the receipt model is only being maintained enough to keep the receipt project alive, but I haven;t bothered to keep the news and other stuff updated now that RAIN is doing a better job with their web site. I am discouraged, and don''t believe the pain is over yet. I don't see how 1999 could be worse than 1998. The conference call did mention, however, that Aventura was not profitable in 1998, which is not a great sign. Also, they are going to be releasing earnings on a monthly basis now which I think is a good sign actually. They may be doing it to show how wildly their business fluctuates, but more likely because they will be comping against a rough 1998. On a negative note, SSS for this quarter so far for The Source and Downtown Chicago are around -35% based on the receipt model, which includes the higher revenue per share due to higher menu prices.
Good luck to all, those who have fallen off and to those who persist and hang on for the ride since their shares have already lost so much of their value...
-Dylan |
