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Subject:  Re: Who is this Barbara Ruhlman Date:  11/28/2006  1:39 AM
Author:  malcolmcochran Number:  29 of 34

She presumably is the wife. It's essentially a family business. Is this dangerous?
1) They could take the whole thing private and we'd have to accept what they offered, by which time the share price would have fallen.
2) They haven't been Public for long, so one hopes they will be using capital to try to grow the business, the family making a fortune meanwhile. But we gain also.

I imagine they are more in the second category (Good). And they have made a few public statements in recent times (Good), whereas initially, they seemed bemused by being Public, and just meandered along (Bad). I bought ages ago on value - wish I hadn't, really, but hung in, expecting greater efficiencies. They have a high PE for a commodity seller and I think the lack of profit is due to second rate management in their overseas sites. And they haven't the strength of character to spend time improving that (Bad). That's how I see it. A family business that's comfortable not ambitious.

I keep hoping but need better signals than I've been getting. It's not the wife-thing that worries - it's the complacency.

My 2c worth.
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