07-18-2009, 04:36 AM
I agree with Carol on the Shipman operations and position with one exception. My perception is that they do not have the cash to do anywhere near the scope of the planning they have in place.
Like most large land operations they are land rich and cash poor. Nothing unusual about this. Their development intentions will have to pass scrutiny with the lenders just as your or mine would. So the economic times affect them too.
My own family has 30,000 acres in Wyoming since the 1800's. That is a lot of dirt. Doesn't have them rolling in cash. Has them up to their eyeballs in responsibilities.
Like most large land operations they are land rich and cash poor. Nothing unusual about this. Their development intentions will have to pass scrutiny with the lenders just as your or mine would. So the economic times affect them too.
My own family has 30,000 acres in Wyoming since the 1800's. That is a lot of dirt. Doesn't have them rolling in cash. Has them up to their eyeballs in responsibilities.
Assume the best and ask questions.
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