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Andrew Shapiro

 
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  • Fewer 3D movies a concern for movie industry [View news story]
    yet according to boxofficemojo, 'Lone Survivor' leads best January boxoffice in four years: http://ow.ly/thKwg $RDI $RGC $AMC $CNK $CKEC $MCS
    Feb 4 07:27 PM | Likes Like |Link to Comment
  • Gulfport Energy pushes to day's highs after CEO departure [View news story]
    more reason why speculation of activist investor may be spin doctoring to avoid clear question - why?
    Feb 3 09:14 AM | Likes Like |Link to Comment
  • United PanAm Financial: How MBO 'Take-Unders' Freeze Out Shareowners [View article]
    Well the chickens may come home to roost.

    The UPFC suit filed in early 2011 on behalf of all shareholders at the time of the merger in response to the minority squeeze-out takeover engineered by UPFC’s Chairman continues. A few weeks ago, the California Court of Appeal handed down a decision partially in favor of UPFC shareholders.

    The court wrote:
    “The minority shareholders did sufficiently allege common control of the corporation, and subdivision (b) does, plainly, allow for suits to set aside or rescind mergers in common control situations. Therefore, we must reverse and remand for resolution of that question.”

    Essentially, the court ruled that, while a remedy of specific monetary damages was not available, the remedy of rescinding the merger is. Here is a link to the Appeals Court’s full opinion http://bit.ly/1ftEMlA

    While getting the company back might be a bad thing, if the business hadn’t been bought at the bottom of the cycle at such a cheap price, in light of the tremendous rebound and success of UPFC’s industry since the takeover, rescinding the merger as if the deal never happened could be of enormous value. Certainly interferes with Mr. Bron’s desire to eventually take UPFC public again or sell to a larger player.
    Jan 31 07:59 PM | Likes Like |Link to Comment
  • Maxxam: Unbelievable Value On A Hard To Buy Stock [View article]
    read the articles I have written on Reading International (RDI); Several of substantial detail and information.
    Jan 30 09:18 PM | Likes Like |Link to Comment
  • Gulfport Energy pushes to day's highs after CEO departure [View news story]
    That the CEO 'was pushed out' does NOT mean an activist is involved. #activistinvestor are #valueinvestor. $GPOR is not priced at cheap value multiple
    Jan 30 08:02 PM | Likes Like |Link to Comment
  • Is Netflix Already A Bubble? [View article]
    While household number is close to 120MM, Several federal broadband studies report that there are only about 70-80MM households with broadband connections approaching what is necessary for streaming. Yes there is more than one person in a household but due to multi streams allowed per monthly payment as well as disallowed password sharing that is prevalent, is it really conservative valuation analysis to imply total market really more than broadband number of 70-80MM. Seems hype job to me to promote higher domestic market size.
    Jan 30 12:53 PM | Likes Like |Link to Comment
  • Maxxam: Unbelievable Value On A Hard To Buy Stock [View article]
    Amazing, I worked on the first PALCO LBO in late EIGHTIES; Hurwitz is a big issue though.
    Jan 30 11:30 AM | 1 Like Like |Link to Comment
  • Is Netflix Already A Bubble? [View article]
    re: domestic: the number of broadband households of your 100MM is much lower - closer to 70-80MM. Agree - NFLX won't reach 100% of this 70-80MM total market.
    Jan 30 09:47 AM | Likes Like |Link to Comment
  • Lawndale Capital Management Sends Letter To Equal Energy Board Regarding Montclair Offer [View article]
    Propane Exports Exceed 400 Mb/d for the First Time
    published by Kelly Van Hull on Tue, 01/28/2014

    http://bit.ly/1a1mbhh
    Jan 29 09:26 AM | Likes Like |Link to Comment
  • Real Estate Progress & Strong Q3 Results For Reading International [View article]
    New Reading Properties New Zealand site
    http://bit.ly/1b2pVO1
    Jan 28 06:59 PM | 1 Like Like |Link to Comment
  • Generation Z: A tough nut to crack for movie studios [View news story]
    IMO other viewing options from VCR , DVD, home theater, blue ray and now streaming have been around as 'threats' for a long time and attendance chugs along because none of these options gets rid of 'date night' and having an out-of-home entertainment experience.

    Going to the movies may cost more than it once did and vs sitting one's couch and bingeing on a old season of TV series or a movie box office hit a year later, but its price has not skyrocketed like other out-of-home entertainment experiences and thus remains one of the most economical choices around for entertainment.
    Jan 25 09:26 PM | 1 Like Like |Link to Comment
  • AMC Theaters faces antitrust allegations [View news story]
    Those interested in this issue may want to check out my article "Small Cinema's Antitrust Win: Big Implications For Large Exhibitor Chains" at http://seekingalpha.co... involving (CNK) and the studios.
    Jan 25 05:16 PM | Likes Like |Link to Comment
  • Cinemark's International Presence May Be Underrated [View article]
    You wrote "continue" to see a drop in the number of people attending movies in the U.S. I don't think your supposition is correct. 2012 set new records in attendance and when final numbers come in 2013 will be quite close to matching or beating that record.

    IMO other viewing options from VCR , DVD, home theater, blue ray and now streaming have been around as 'threats' for a long time and attendance chugs along because none of these options gets rid of 'date night' and having an out-of-home entertainment experience. Going to the movies may cost more but its price has not skyrocketed like other out-of-home entertainment experiences and thus remains one of the most economical choices around.

    Some of CNK's stock 'weakness' has foreign currency roots as well as the fact that it started your measurement period with higher valuation multiples than the CKEC and RGC you compared it too. That being said, I personally favor Reading International (RDI) over CNK as a comparably conservative balance sheet but more attractively priced internationally diversified movie exhibitor trading. RDI trades at a far far lower valuation multiple, considering RDI's enormous amount of developable real estate that doesn't yet generate cash flow. (note some of this RE is being monetized in the near future for value well in excess of the property's book value)
    Jan 23 06:24 PM | Likes Like |Link to Comment
  • Netflix CEO Reed Hastings Is Actually Right [View article]
    that comment was NOT from me. Never said Netflix was a BK. Was highly critical of the value being placed on the then current and prospective subscriber base and was correct and profited handsomely. 2013 a far different story, but an awesome set-up for 2014.
    Jan 16 08:24 PM | Likes Like |Link to Comment
  • Is It Time To Abandon Ship On Premier? [View article]
    yes more than middle ground from present levels for the right buyer who places an intangible value on the extraordinary unique nature of these artifacts. Alternatively, for a broader bidding audience, they have to materially increase the cash flow generation from the assets.
    Jan 16 08:22 PM | Likes Like |Link to Comment
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