deliver to "you" implies paying a dividend ....... if a company...

deliver to "you" implies paying a dividend .......

if a company can generate 40% ROE .........and invest capital at this ROR - it most defintly should NOT pay a divvy.....

SRS - is a dog ..........

the only way holders will make money (apart from the NTA arb that was inherent in the preffs) - is for management to put it up for sale ........

to drive a margin on ssales business you:
1. inc sales (which, for SRS has to be via acquisitions - b/c the base buss is not growing .......)
2. vert integrate - to inc margins ........they cant do this b/c no paper manufacturing assets are for sale
3. reduce inventory, and inc the cash conversion cycle ........they haven't done this to date ......
4. inc use of OPM's (ie creditors) ......
5. get hard assets out of the busss - sale - leaseback ........etc etc .....

rgds
V_H