tag:blogger.com,1999:blog-4631423976894080706.post3361431463673405153..comments2023-10-17T06:55:06.255-04:00Comments on the red corner: Macro Enterprises Inc - Updatered.http://www.blogger.com/profile/04089263693762295793noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-4631423976894080706.post-87775255143189781652017-07-26T03:53:51.907-04:002017-07-26T03:53:51.907-04:00LNG isn't going to happen in BC.
http://www.p...LNG isn't going to happen in BC.<br /><br />http://www.petronas.com.my/media-relations/media-releases/Pages/article/PETRONAS-AND-PARTNERS-WILL-NOT-PROCEED-WITH-PACIFIC-NORTHWEST-LNG-PROJECT.aspx<br /><br />Igorhttps://www.blogger.com/profile/00624036855109610892noreply@blogger.comtag:blogger.com,1999:blog-4631423976894080706.post-78241386059113459922016-10-21T06:26:01.793-04:002016-10-21T06:26:01.793-04:00This is not bad news
http://www.platts.com/latest-...This is not bad news<br />http://www.platts.com/latest-news/petrochemicals/calgary/canadas-altagas-takes-fid-for-north-pine-ngl-21848265red.https://www.blogger.com/profile/04089263693762295793noreply@blogger.comtag:blogger.com,1999:blog-4631423976894080706.post-87296503219231299832016-10-12T10:31:12.440-04:002016-10-12T10:31:12.440-04:00Hi Igor, I think it's reasonable to suppose th...Hi Igor, I think it's reasonable to suppose that forward integrity work closely approximates its historical levels of integrity work. Much of the margin of safety in the above thesis was built on that assumption and I don't think anything has happened to shift the demand curve down. There may be some price competition for that work but I think Macro is sufficiently local that it should be well placed to do well enough in its catchment area.red.https://www.blogger.com/profile/04089263693762295793noreply@blogger.comtag:blogger.com,1999:blog-4631423976894080706.post-54106404460270475432016-10-12T10:00:38.109-04:002016-10-12T10:00:38.109-04:00Hello Red! Would it be unreasonable to believe tha...Hello Red! Would it be unreasonable to believe that MCR's integrity work should recover after the last two quarters, since regulatory bodies require to keep pipelines in good shape? Thanks in advance for your opinion.<br /><br />"Should companies fail to live up to their commitments around safety and environmental protection, the NEB does not hesitate to take strong enforcement action." [https://www.neb-one.gc.ca/bts/nws/fs/pplnntgrt-eng.html]Igorhttps://www.blogger.com/profile/00624036855109610892noreply@blogger.comtag:blogger.com,1999:blog-4631423976894080706.post-8536540376574936322015-11-16T08:51:25.825-05:002015-11-16T08:51:25.825-05:00The dispute was settled for $3.3 millionThe dispute was settled for $3.3 millionred.https://www.blogger.com/profile/04089263693762295793noreply@blogger.comtag:blogger.com,1999:blog-4631423976894080706.post-89872102138533282912015-11-16T03:19:41.308-05:002015-11-16T03:19:41.308-05:00Was there an allegation that the the company sued ...Was there an allegation that the the company sued one of its customer regarding a dispute about account receivable? Whatever happened to that?Johnnoreply@blogger.comtag:blogger.com,1999:blog-4631423976894080706.post-70184405273554307152015-11-15T13:24:58.765-05:002015-11-15T13:24:58.765-05:00Good question. We are maybe 3 or 4 quarters away f...Good question. We are maybe 3 or 4 quarters away from $0 enterprise value and the longer this carries on the more reasonable the scenario that you have described becomes. <br /><br />Several of my holdings carry that risk because they are that cheap but it is particularly acute here both because Frank Miles does not appear to enjoy the ceremonies of public status and because the low market valuation of the company's equity doesn not help in accessing the capital markets for growth purposes -- if there is growth to be had. <br /><br />On the other hand, he/they have gone to some lengths to soothe investors' nerves -- "we have a strong balance sheet", acquisition/consolidation talk etc -- so perhaps that risk is not imminent.red.https://www.blogger.com/profile/04089263693762295793noreply@blogger.comtag:blogger.com,1999:blog-4631423976894080706.post-83463374515306759142015-11-15T13:09:56.275-05:002015-11-15T13:09:56.275-05:00How do you assess the risk of a take-private by Fr...How do you assess the risk of a take-private by Frank Miles? Big increase in cash in last quarter + big drop in share price makes such a move much easier for the guy to find finance for if he needs it. It may be a significant crimp to the upside in a valuation; in the positive scenarios in one's hypothetical decision tree, he might just take it from you.Anonymousnoreply@blogger.com