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Author: tmfralegh Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 26  
Subject: Re: UAG Management Matters Date: 1/16/1998 11:06 PM
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<<I assume based upon the commentary's content you were referring to your lack of background?>>

Your background on shopping for a few cars and having them serviced is as little a basis for being intimately familiar with the workings of auto dealerhips as my background is in those areas, IMO.

What I said about background was meant as a comment on the absolute lack of frank discussion and analysis from the company's officers on the conference call. What was even more interesting about their lack of detail was the array of softball questions from the analysts covering the call.

As for the finance business, they don't make money on that unit. It looks as though the sales and service end of the business is the anchor of the company right now. What I see is a pretty ugly cash flow statement and a company that is trying to grow its way out of a problem with their write-off. Maybe it's just that I'm a curmudgeon, but I'm just not a fan of the big-bath accounting treatment. I don't have to be an expert at the car dealership business to see these very basic things.
Dale
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