Sublime

The Burlington directors easily persuaded their stockholders, who could choose either the princely $200 per share return or the 4 percent bonds, to turn over their shares, and the Hill-Morgan team now had the key railroad they needed to round out their regional railroad empire.

batter,”

The easiest way I know to create tremendous shareholder value is to buy businesses at profit multiples lower than the multiple our stock trades at, and then significantly improve those businesses.

Second, the prospect was an established business roughly in the size range that Randy was interested in; a purchase at 4x 2011 EBITDA would be $4.0 million, an amount he believed he could finance with a combination of bank debt, seller debt, and investors’ equity.

At present my children and I own more than 30% of PSG’s shares and, along with the shareholders mentioned above, Thys du Toit (former KWV chairman) and Christo Wiese have huge stakes.

Adam Rayburn,”