beabaggage

Ashford Hospitality, Aircastle 'Enhance Liquidity'

Sold mine after div announcement, mgmt scammers for sure. few weeks before all announcements, pres, who had been a buyer of common, bot nice chunk of pfd's. then declares pfd divs and elim common. they led everyone to believe with no debt due next few yrs, lots of cash, low libor debt etc. they would be ok to ride out recession. now they appear to be headed toward bankruptcy for sure. reits almost disappeared in the 70s and this 70's like recession mess we are just starting out in will eliminate a lot more now. most have just too much debt and not enough cash flow.

Trust in Ashford Hospitality’s Management

Agree, it has been hard to watch and suffer this loss, but I also like managements larger stake in the co, insider buying and good management. unline Lehman Bros for example, earlier this year mgmt cleared the slate for paying any debt in the near future.
I think REVPAR this quarter and next may suffer, maybe even 1st q 2009, but they are prudent and I am confident they know what to do.
have been averaging in common, more upside, as a speculative play with possible dividend bonus.
Long and buying.