Cliff's Announcement and Company Transition

Insiders don't own the majority but they do have a high insider holding. They only have 10 million shares on the market anyway

 

If I had the money to put at risk I would buy. Not because I feel the company will ever get into the black again, but because I believe the stock will rise if a serious offer is put on the table. You know it's strange looking at all this. I kind of feel like I am picking at the bones of the dead carcass of the company.

 

If the stock goes low enough a buyer will be able to get this company just by assuming the debt. The market cap may be 32 mil but the enterprise value is 157 or 158 mil (market value plus debt). Thats how much liability a buyer stands to absorb if they want this company. Strategically though I wonder. Its doesn't seem logical that a buyer would pay that to obtain their equipement since all the equiptment is collateralized in the new credit line. They wouldn't pay that to obtain any of USAs freight customers since no one owns the shippers. If you USA isn't around the shippers have many carriers to choose from. So what does that leave us with? The drivers!!! It would be easier to buy a company and instantly increase the size of your company than to aquire all those drivers from scratch. But is it still worth 158 mil to do that? USAs losses will become another companies losses. So many questions I guess.

 

I left USA and do not regret it. Got on with a smaller company and it is a world of difference. Just to much uncertainy and with the economy they way it is I owe it to my family to not align myself with a company that is setting up itself up to fail.

 

Good luck man hope it works great for you.

 

It has so far, better trucks, better starting pay, on a first name bases with everyone. Killer maint department and home every weekend.

 

While I know it does not necessarily mean bad news. I am starting to really wonder why the company is so late with releasing the quarterly? I saw todays ending Stock price was $3.08. I wonder if this might be part of the reason for the delay.

 

There you go just a whole lot of losses. Cliff Beckham sure would do himself a favor towards his credibility to stop talking about that #### SCS segment. Its profitability has nothing to do with the overall profitability of the company. OTR and Intermodal are the only real sources of outside revenues and both are losing money. From previous reports SCS is just an intercompany division separated on paper for most likey reporting and tax purposes.

 

2.93 a share after dropping as low as 2.80 intraday.

 

Yes, I noticed that today. I also noticed the release narrative came from someone other then Cliff Beckham. I did not read the fine print, when I saw the debt to balance sheet % had risen from just over 50% in the last quarter to over 54% in this quarter I stopped reading. The company is still living on that dang credit card and is NOT cutting operating costs. The stock price is under $3 bucks now, and the company is spending money like there is no tomorrow. This situation is in my opinion borderline criminal and 100% pathetic! I keep hearing the larger carriers have rate reductions planned for the upcoming year, a lot of contracts are coming up to be re let. Werner has already undercut my company on one of our big customers, and has almost got another one now. USA Truck might not survive this upcoming rate war given their current state.