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Andrew Shapiro

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  • Lawndale Capital Management Sends Letter To Equal Energy Board Regarding Montclair Offer [View article]
    press release issued on Dec 10

    Lawndale Capital Management Expresses Concerns Over Equal Energy Sale Agreement

    Requests More Thorough Disclosure And Scrutiny Of Equal’s Strategic Alternatives Process

    http://prn.to/1bwriTY
    Dec 11 02:24 AM | 1 Like Like |Link to Comment
  • Equal Energy: Broken Management And A Broken Board [View article]
    Lawndale Capital Management Expresses Concerns Over Equal Energy Sale Agreement

    Requests More Thorough Disclosure And Scrutiny Of Equal’s Strategic Alternatives Process

    http://prn.to/1bwriTY
    Dec 11 02:23 AM | 3 Likes Like |Link to Comment
  • Box office roundup: Hunger Games and a Hobbit setting up theaters for strong Q4 [View news story]
    The further good news about the Hobbit coming out next is that the movie has a heavy popularity in Aus/New Zealand due to that region's involvement in the franchise's production. Reading Int'l $RDI is the 3rd largest theater operator in NZ and the 4th largest in Australia, while the other mentioned exhibitors have nothing in those countries.
    Dec 6 12:10 PM | 1 Like Like |Link to Comment
  • DreamWorks: Take Some Chips Off After Stock Price Surge [View article]
    nice balanced article.
    Dec 6 09:25 AM | Likes Like |Link to Comment
  • The Great Bull Vs. Bear Debate On Premier Exhibitions [View article]
    PRXI needs to better exploit these artifacts in the digital universe and not only create incremental cash flows from them but also further build on Titanic and other licensed brands.
    Dec 3 09:36 AM | 3 Likes Like |Link to Comment
  • Carmike Cinemas: Worth The Price Of Admission [View article]
    Gerry -

    I am going to see Carmike present at an upcoming conference. However, did you include Reading International (RDI) in your calculation of other public industry players? Low valuation multiples plus real estate assets as a topper.

    "Real Estate Progress & Strong Q3 Results For Reading International" http://seekingalpha.co...
    Nov 30 01:44 PM | 1 Like Like |Link to Comment
  • Failed Titanic Sale Won't Sink Premier Exhibitions [View article]
    As I expected you got your chance.

    If $1.50, when this article was written, was attractive, I guess picking up tax loss Sellers (literally!) at current $1.20 is more compelling.
    Nov 25 03:10 PM | 1 Like Like |Link to Comment
  • Is It Time To Abandon Ship On Premier? [View article]
    Someone was listening to the recent conference call.

    Fyi - The release also provides a stock buyback update

    Premier Exhibitions, Inc. Adopts New Compensation Plan for Its Board of Directors;
    http://bit.ly/1fWtBkO
    Nov 25 03:06 PM | Likes Like |Link to Comment
  • Premier Exhibitions: How Much Farther Can We Sink? [View article]
    Someone was listening to the recent conference call.

    Fyi - The release also provides a stock buyback update

    Premier Exhibitions, Inc. Adopts New Compensation Plan for Its Board of Directors;
    http://bit.ly/1fWtBkO
    Nov 25 03:06 PM | Likes Like |Link to Comment
  • Real Estate Progress & Strong Q3 Results For Reading International [View article]
    the actual "sales" < 10K shares were gifts to non-profits and funding of cash for foundation, etc.
    Nov 15 07:23 PM | 1 Like Like |Link to Comment
  • Real Estate Progress & Strong Q3 Results For Reading International [View article]
    You aren't the first to ask me about this but I wish more people would read the fine print in the securities filings and not rely on database services which fail to do same. here are the footnotes to the form 4 filed on sec edgar for all to see at http://1.usa.gov/1jatK3P

    1. On September 7, 2012 and October 21, 2013, Mr. Cotter effected a restructuring of Cotter Enterprises, LLC., a family owned limited liability company ("CE" and the "Restructuring" respectively). CE is the owner of 1,000,000 shares of Reading Class A Common Stock. Pursuant to the Restructuring, Mr. Cotter was from September 7, 2012 through October 21, 2013, the holder of a pecuniary interest in such 1,000,000 shares. On October 21, 2013, a 99% membership interest (the "Membership Interest") was transferred to a trust for the benefit of Mr. Cotter's children. Accordingly, Mr. Cotter no longer has a pecuniary interest in 99% of the shares owned by CE.

    2. The dollar amounts shown above as the transfer price of such pecuniary interest reflect the value of Membership Interest transferred, which is a discount to the value of the underlying shares, such discount being attributable to the fact that such 99% Membership Interest is an illiquid, non-controlling interest with material limitations on transferability. The net effect of the Restructuring is that Mr. Cotter's pecuniary interest in the 1,000,000 shares held by CE is the same currently as it was prior to September 7, 2012.

    3. Gifted to Non-Profit

    4. The purchase agreement with respect to the sale of the membership interest provides that the interest transferred will be independently appraised, and that the purchase price will be adjusted to reflect the results of this appraisal.

    bottom line: The guy's got millions of shares and has begun to estate plan with transfers to his kids of limited interests in the family limited partnership, which owns many of the RDI shares, AND HE MAINTAINS CONTROL OVER while alive, thus getting a discounted valuation on appraisal due to liquidity constraints on the lp interests.
    Nov 15 07:22 PM | 1 Like Like |Link to Comment
  • Q2 2013 Disclosures Affirm Reading International Remains On Track Yet Undervalued [View article]
    SA just published new RDI "Editors Pick" article. Hope you find the updates useful

    "Real Estate Progress & Strong Q3 Results For Reading International"
    http://seekingalpha.co...
    Nov 13 09:45 AM | Likes Like |Link to Comment
  • Real Estate Progress & Strong Q3 Results For Reading International [View article]
    This is the same developer who built the beautiful Mosaic District in Fairfax, VA. They initially specifically came to Readings seeking Angelika for Mosaic and apparently loved their experience enough (and seeing how that theater came out - who wouldn't) they came and asked Angelika to come into Eden's new Washington, DC center. Says alot about the emerging and growing Angelika brand.
    Nov 12 12:50 PM | 1 Like Like |Link to Comment
  • Amazon reveals Bezos unloaded a million shares in Q3 [View news story]
    The point I was making was that the editor's misinterpreted the form 4 report which has to be filed within 2 DAYs of insider transactions with once a quarter institutional filings disclosing transactions with substantial time delay.
    Nov 7 10:00 AM | 1 Like Like |Link to Comment
  • Amazon reveals Bezos unloaded a million shares in Q3 [View news story]
    look at the form 4 http://1.usa.gov/Hy0gB2 Bezo sales weren't last quarter but in the few days
    Nov 6 04:14 PM | Likes Like |Link to Comment
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