Wednesday, March 05, 2008
Name That Company!
Hands down the most surprising commentary on any conference call this earnings season—at least to the ears of NotMakingThisUp—came during the question-and-answer session of a publicly traded company that has been going through the earnings wringer for the last two years, sells a product that requires an immense amount of borrowed money, and is almost universally dismissed, investment-wise, by Wall Street’s Finest.
Rather than name the company ourselves, let’s see how carefully our readers pay attention.
The first reader to name the company, and the CEO who spoke the following words, gets the NotMakingThisUp award for meritoriousness in the realm of Not Making Things Up.
What we saw in Naples was a very high rate of sales compared to where we've been for the last year and a half. Shockingly so.
And even selling, as opposed to getting rid of spec inventory, selling some to-be-built product again in the Naples market. That rang a bell for us and indicated that we could be, it's only a four-week time period that I'm discussing with you, we could be on track for better times.
Washington, D.C. I think I was quoted as saying we were dancing off the floor. That was about a year ago, by recollection, and it faded. This time I'd characterize it as a glimmer of hope. We did get much stronger in the D.C. market and we got extremely strong in the Maryland-D.C. marker as opposed to the northern Virginia-D.C. market. But I'm not willing to say as of this call that we're back.
It's a glimmer and let's hope that the good times stick for those markets.
I Am Not Making This Up
© 2008 Not Making This Up LLC
The content contained in this blog represents the opinions of Mr. Matthews. Mr. Matthews also acts as an advisor and clients advised by Mr. Matthews may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Matthews' recommendations. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
Posted by Jeff Matthews at 7:48 AM