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Basic Food Fund: Food Stocks Devour Bears

Any thoughts on todays news release for IPSU.

, Texas--(BUSINESS WIRE)--The Imperial Sugar Company (NASDAQ:IPSU - News) updated the status of its project to rebuild its Port Wentworth, Georgia, refinery which was extensively damaged in an industrial accident in February 2008. The Company reported that through March 31, 2009, it had spent approximately $54 million of the estimated $200 million to $220 million construction costs. The Company’s property insurance policy provides coverage for construction replacement cost, as well as business interruption and certain payroll and other costs. The Company received an additional $35 million advance under the property insurance policy in March 2009. Advances, which total $160 million to date, are not identified with any specific coverage under the policy. Imperial expects to begin producing granulated bulk sugar at the facility in late May of 2009 and complete restoration of the packaging capabilities by the fall of 2009. The Company also reported that as of March 31, 2009, it had cash balances of $79 million and available, undrawn revolving credit capacity of $55 million, after deducting $30 million of outstanding borrowings under that facility.

Food Stocks Not As Safe as I Thought

Mark,

The insurance that you claim that is more than adequate to cover "worst case scenerios" for IPSU. Does this include all lawsuits for the people that died during the fire? To put it simply does the insurance cover all potential liabilities and lawsuits of the explosion as you claim.

Basic Food Fund: Will a 5000 Dow Decimate It?

Mark my mistake you are correct, that being said IPSU owns 50% of that and if the value is 80 mil IPSU stake would be worth 40mil given IPSU present market cap of 88 mil what are your thoughts?

Basic Food Fund: Will a 5000 Dow Decimate It?

Mark,

You also stated in an earlier article that IPSU 50% position in the Mexican joint venture had a total value of 80 mil at todays mrkt cap that would value IPSU core business at less that 50 mil. Any comments are appreciated.

Basic Food Fund: Will a 5000 Dow Decimate It?

Any thoughts on IPSU market cap of 92 mil it would seem to be very cheap.
Your thoughts are aprreciated.

The Basic Food Fund Gets Leaner

Any thoughts on IPSU hitting new 52 week low. It's trading like it's going out of business or has serious legal issues. In the past IPSU has not traded with the market like it is trading now.

The Basic Food Fund Gets Leaner

On Feb 10 12:00 PM markkrieger wrote:

> No-I still own the position,I merely forget to provide my disclosure
> within the article--with today's drop, I am very tempted to double
> down!!!


Mark,

Probably as good as time as any to double down, No volume.
Is this company really only worth only 120 mil.

The Basic Food Fund Gets Leaner

Mark, Did you sell your share in IPSU as you do not disclose after this article that you are long the shares. In your last article you disclosed you were long IPSU. Just curious.