What do you guys think of this?

The stock price is so low right now that it makes the company cheap minus the debt load which would have to be assumed. But to a company that has cash the debt might not be that much of a problem. Who knows what the wording of the shareholders rights agreement means except for someone who has a lot of experience with this kind of thing? They hired an experienced accountant and a consultant. I am guessing those two played a role in writing that agreement. The only thing I take from reading it is they aren't able to or trying to prevent a takeover but just trying to cover their butts legally against shareholder backlash should a hostile takeover unravel.

 

Prudence demands the board do anything they can to prevent an unsolicited takeover attempt. With the stock in the toilet like it is they have no other choice. My take on this is it's a reward to the investment companies that own the largest majority of the stock. I think the board is trying to keep them in line because if there is a takeover attempt these investment companies will be the ones who will be approached to sell.

 

From what I see very few individuals own the stock right now. This is really the insiders trying to protect themselves against a takeover and to assure that they make some money should a takeover take shape.

 

I think the Board and upper management own around 20% of the common stock. I agree that the board and upper management are walking a tightrope. I do think they are trying to turn things around and at the same time positioning things to benefit them if things go bad. Upper management is really after that gravy train more then anything else. No matter what the stock price, no matter how much is left of the credit, they keep getting those fat paychecks. It is a dang shame these people can't be forced to face criminal sanctions if things do go horribly bad.

 

Looks like its time ! Not a good sign ! No one wants to be working for the next arrow ! Good luck guys! But it may be time to start looking for another job?

 

It looks like they are trying to squeeze two more years out of it somehow. I would keep the fuel tanks full anyway.

 

I would have loved to be a fly in the room when they were discussing the details of the credit facility

 

If USA Truck does get taken over, how wil it effect the truck drivers and and other employees working for USA truck? Unfortunately, the unemployment figures in the U.S.A. are already too high.

 

What kind of criminal "sanctions" or charges could upper management be faced with? What crimes have they actually committed?