PSA Likely to be Sold...Then Out of Business? - Part 2

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Posted By: David M

I'm only paranoid because everyone is against me!

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Posted By: Eric B

When I have more time I wanted to respond to some questions, but David's question prompted me to jump in right now.

There is no reason to be concerned with submissions to PSA right now. Worst-case, they have plenty of cash to last over a year. Any business decision will be made well before they run out and will be orderly so as to NOT affect customers. Plus, no matter what, any submissions remain the property of the submitter.

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Posted By: marshall barkman

There is no reason to be concerned about PSA. They will survive the onslaught of this current economic situation. I might also add that i speculated about gold and silver months ago and knew they would both roll. I bought in when gold was at 780 a ounce and silver was at 10.15, currenty gold is at 998.00 and silver around 14.50. Forget about the doom and gloom just continue to buy strong graded cards and jump on the silver gold train because it is picking up speed.

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Posted By: barrysloate

Marshall- it's doom and gloom that causes precious metals to rise. When gold approaches $1000 an ounce, that is not good for anyone except those holding it.

When the economy is strong gold sells for $300-400 an ounce.

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Posted By: marshall barkman

I agree with you Barry hence my statement forget about the doom and gloom and buy silver and gold. By the way there is alot more to it than that in regards to why silver and gold are rolling. If you are on the inside track then you know there is going to be news in the next 6 to 12 months that will make silver and gold look like they have a turbo gear. My seat belt is buckled and my position is strong so keep the green plus going baby (-:

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Posted By: boxingcardman

No need to engage in freeform anxiety games about meteorites hitting trucks in NJ; just buy an insurance policy on your cards and worry about more important things...like getting more cards....

Sic Gorgiamus Allos Subjectatos Nunc

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Posted By: Steve

How did you make out with part 1?


Steve

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Posted By: Red

A meteorite might be considered an act of god and your insurance wouldn't cover it.

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Posted By: marshall barkman

Eric....after speaking with Joe i found this post to be quite interesting. http://forums.collectors.com/messageview.cfm?catid=11&threadid=692768&highlight _key=y&keyword1=a%20message%20

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Posted By: Eric B

Marshall, that was a good post in response to my Part 1 thread. Joe Orlando is a wonderful spokesman and tremendous advocate for his company. When PSA gets sold, I would suggest he buy it.

But I am very good at reading financial statements and there are some major "spins" in what he said. The greatest of which is the profitability of the various divisions. You can't state that when you only go down to the Operating Income level which doesn't include SG&A.

Besides, the key statement I was making is the health of CLCT which will cause the sale of PSA. I just feel that when that occurs, the new owners may run it differently which will cause a certain chain of events. If the right buyer comes around and fixes some problems, it can last a long time.

But the economy has made things worse. I bet submissions made the last couple months, which will show up in next quarter's statments, will be down again.

Plus you can't spin the CLCT Deferred Tax Asset valuation allowance.