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Strategies & Market Trends : Brand Name Values and Turnarounds -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (45)	3/7/1999 3:10:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 82

Hi Jim: re UHAL: they seem to be strengthening their insurance operations also, having made an acquisition in '98. They were unique I think in offering storage to their moving customers. Now I see that Public Storage also has a national tie in with Budget Rental, so it's not unique to UHAL anymore. Incestuous relationships abound at UHAL. Maintenance agreements with Shoen family and UHAL, printing agreements with Shoen printing co., etc. This is a dangerous and unpleasant stock for the small investor- any outside investor apparently. IMO. There's a real estate operation buried in UHAL too. My guess would be that the Schoens would skim a lot of the cream, if there were any, before it could get to the UHAL bottom line. I see a well-branded, national company selling at a relatively low psr ratio, and with increasing sales - but that increase coming at a very slow rate. The stock's now at $22 with a $27 book value. That's too big a disparity IMO, and a key reason why I've bought the stock at these ($22) levels. Paul