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Final Bullet from Pegasus

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July 18, 2007 – Comments (1)

I gotta hand it to the folks at the Freeport Press. They may not understand much about stocks or finance, but they do their beat work, walking the sidewalks, knocking on doors, talking, calling, and getting the facts. And their facts suggest that Jasper Knabb has flown the coop.

I'm also privy to a rumor of a restructuring plan for Pegasus that would attempt to take the current outfit and split it into 4 separate, publicly-traded entities. Why anyone would buy any of these is beyond me -- the parent is worthless, so what could the bits be worth? You can bet I'll keep an eye open to see whether or not this hearsay proves to be true.

Sj

1 Comments – Post Your Own

#1) On July 18, 2007 at 11:00 AM, tomnsung (83.89) wrote:

I am so thankful that I sold my Pegasus shares in July 2006 after reading a very negative article by a Motley Fool contributor. However, after reading an MF blog, I sold my BWTR shares at a loss in May 2007 and started an underperform caps pick that is deeply underwater. What is your current thinking on BWTR (which seems like a symbol for "bathwater") ?   Tom

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