metalico takeover offer

[mthomasdev]

Any of you Metalico guys see the take over offer today?

[spike]

Adam Weitsman of Upstate Shredding Proposes to Acquire Metalico, Inc. for $0.78 Per Share - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

[billygoat]

Don't know what you mean by "Metalico guys" but for someone who goes there from time to time, this is welcome news. I think. Weitsman has better overall prices than the Metalicos around here. Only problem is that Metalico bought out all the individual scrap yards around here except for the one Weitsman yard. So that would mean no competition.

[bigburtchino]

Competition is good for everyone and business alike. Without it we all lose, like we have already seen in other industries.

[spinroch]

Resistance is Futile

Weitsmans - The Borg of the Scrap Universe

[etack]

Resistance is Futile

Weitsmans - The Borg of the Scrap Universe

yeah but if 7of9 was running the scales who cares!!!!

https://www.pinterest.com/pin/528258231263176573/

Eric

[logansryche]

I see this as happy news. This means the only competition left up here is Bodine and their suppose to be going out of business sometime this year. Everyone acts surprised like no one saw it coming. I did. Why? Weitsman offers more for scrap and they deal in volumes no one can keep up with.

[Metalbestos]

I see this as happy news. This means the only competition left up here is Bodine and their suppose to be going out of business sometime this year. Everyone acts surprised like no one saw it coming. I did. Why? Weitsman offers more for scrap and they deal in volumes no one can keep up with.

Your avatar ..Is that the sword in the stone bear ? I can't put my finger on his face ninjed

[Copper Head]

Weizmann pays $136 per GT for mix compared to many other yards he just pays more
last summer when times were good I was visiting Long Island NY and found local yards were paying very low around .07 #
way less then Owego NY that was around .10 #

Owego is .06 now

He runs a tight yard 7 days a week
employs workers @ plenty of HRS
He is good news for the continuation of the scrap industry
for us scrappers who sell to him.
He pays decent for each type of steel if your inclined
to sell to him that way
or just sell as mix is decent pay also.
---------------
The method of his purchasing from scrappers has helped me
become savvy in all the different metals and pay for each type
some other yards don't want to hear about Rotors , I beams , Shearable ,

They will watch what you give them & they are strict , they expect you to know what is what .
So if you toss your rotors in with mix they will take it with a smile ,
don't expect a lesson from the workers but since there so organized with the separate piles of steels it's easy to catch on
to there reasoning's

[logansryche]

Your avatar ..Is that the sword in the stone bear ? I can't put my finger on his face ninjed

No. Once apon a time I was part of a project to resurrect the cartoon series Talespin, and so asked a friend to draw me a character sheet of an origional character based on myself that would have been introduced. Disney gave their blessing but the project fell apart due to lack of funding. Had voice reels done and everything.

[matador]

That's a more interesting backstory.

You must have been pretty close to release if they had voice recordings done.

-----------------

On track, if Weissman can do something that the other yards can't do as well, more power to him. I agree with competition, but the leader can often do a better job. We had two yards in our town- one is a nice, professional setup, the other didn't have a scale, and was fighting to keep equipment working at all. I don't know if that's the case or not here, but sometimes fresh blood can help.

I would be a little afraid of a horizontal monopoly developing, though.

[logansryche]

That's a more interesting backstory.

You must have been pretty close to release if they had voice recordings done.

-----------------

On track, if Weissman can do something that the other yards can't do as well, more power to him. I agree with competition, but the leader can often do a better job. We had two yards in our town- one is a nice, professional setup, the other didn't have a scale, and was fighting to keep equipment working at all. I don't know if that's the case or not here, but sometimes fresh blood can help.

I would be a little afraid of a horizontal monopoly developing, though.

We were a month from finishing the first episode. All that was left was to get animation down, and that's where it fell apart. There was no interest, despite having Disney's blessing.

-------------

On topic, I was reading Adam Weitsman's story of what he'd been through and how he feels his yards are the better picture to give back to communities and I see it: if you have two yards. One does things right and offers more per pound and you have a second that doesn't do either, one yard's going to fail and the other succeed(or in our case, two down one to go).

[Swampy]

Just a few weeks back, Metallico stock ("MEA") was trading around 27 cents a share. Crystal ball would have been nice to have for a buyout at $.78

[mthomasdev]

Just a few weeks back, Metallico stock ("MEA") was trading around 27 cents a share. Crystal ball would have been nice to have for a buyout at $.78

Writing has been on the wall (or should I say facebook) since June of 2014. Wish I acted around 30 also.

[Swampy]

As soon as I bought any (even at $.10), they would have bankrupted and gone to $0. That's my kind of luck.

[unknownk]

As soon as I bought any (even at $.10), they would have bankrupted and gone to $0. That's my kind of luck.

Don't feel bad, I was going to put $10K into Apple stock when everybody was saying it was circling the drain .. don't even want to calculate what that would be worth now.

While some companies get bought out on the way down some don't so unless you have inside information (illegal) its probably not worth the risk.

[matador]

You would have, before taxes, $579,935.09

That one worked out. Or, you could have put $10k into Enron. And had $0.00

Not a risk I'll take.

Now, someone, get to work on a crystal ball!

[logansryche]

*pops out a crystal ball* Gaze into my wondrous crystal ball of scrap, says the great Mattzini!

[matador]

'Fraid someone's beat us to it.



But, it's not very good.

Maybe I'll just scrap it!

[AdmiralAluminum]

I have a "magic" 8ball sitting in front of me right now on my desk, it's always there. Just asked it if scrap prices will rebound soon..."outlook good". Shows what it knows!