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- Nyer Medical: Chance for Liquidation Distribution?
- Greenbackd submits: Nyer Medical Group Inc (NASDAQ:NYER) is to liquidate subject to the approval of its shareholders and the closing of two transactions. The board estimates that shareholders will receive a liquidating distribution of between $1.84 to $2.00 per share. At its $1.75 close Monday, the low end of...
- External links 2009-11-02
- Exiting CRC as Its Liquidity Crisis Deepens
- Greenbackd submits: Chromcraft Revington CRC has filed its 10K for the period ended December 31, 2008. We initiated the position in CRC in December last year see the post archive here because it was trading at a substantial discount to its liquidation value and a substantial stockholder...
- External links 2009-04-21
- Forward Industries: Cheap and Attractive
- Greenbackd submits: Forward Industries Inc (NASDAQ:FORD) is a new position for us. We haven’t deviated from our love of deep value (it’s trading at a discount to net cash and liquidation value), but there’s no obvious catalyst in the stock at this stage. Management appears to be considering a...
- External links 2009-07-20
- Icahn Takes Large Position in MGM Mirage Bonds
- Greenbackd submits: In Icahn Takes On Kerkorian in Big Las Vegas Showdown subscription required, The Wall Street Journal reports that Carl Icahn has built a large position in the bonds of MGM MIRAGE (NYSE:MGM) and is pushing it to restructure in bankruptcy court. MGM is struggling to service approximately...
- External links 2009-04-19
- Why VOXX Is Worth a Look Now
- Greenbackd submits: Audiovox Corporation VOXX is a rarity in our universe: A profitable, undervalued asset play. At its $3.73 close Tuesday, VOXX had a market capitalization of $85.3M. We estimate the liquidation value to be 50% higher at around $128.4M or $5.60 per share. by Greenbackd
- External links 2009-02-18
- Pitfalls of Asset Value Investing: And Never Breath a Word About Your Losses
- Greenbackd submits: CNBC has an interview with Ricardo Salinas, the Mexican billionaire who took a position in Circuit City Stores Inc. (CCTYQ.PK) after it fell into bankruptcy and lost $41 million. In the interview with Michelle Caruso-Cabrera, Salinas explains why he made his bet on CCTYQ and how...
- External links 2009-02-06
- ValueVision Media: Auction Process Has Failed
- Greenbackd submits: Our posts on ValueVision Media Inc. VVTV attract more attention than any other posts on this site, though we exited the position last year. We initially liked VVTV because it looked like a cheap net net with other potentially valuable assets. That was a mistake. VVTV has...
- External links 2009-02-04
- Analysis of the Pershing Square vs. Target Proxy Fight
- Greenbackd submits: Steven M. Davidoff, The Deal Professor, has an analysis of the proxy fight between William. A. Ackman’s Pershing Square Capital and Target Corporation TGT in his NYTimes.com DealBook column, Target’s Challenge. Pershing Square has a fund dedicated to its investment in TGT, which Davidoff says controls...
- External links 2009-04-01
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