addressing used car market now... primarily on certified pre-owned
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addressing used car market now... primarily on certified pre-owned
Mentioning iPhone app now. "Working on it". Planning on launching second quarter.
penetration rate of 52%? WTF. Toyota to increase penetration rate this year.
$.1700 hit!!
.1730!!!!!!
We're sitting at .17 in premarket .... listening to CC now ....
GLAD they mentioned they are working on their own iPhone App.... the cat's out of the bag....
we hit .175 there for a hot minute
pushing .18 now.....
Mel: 3 main points.
1) How well we are executing considering environment.
strong double digit rev growth.
22% reduction in costs
ebitda positive for Q4. 224 million loss in 07, positive ebitda of 32 million in 08. This looks to continue in 09 and beyond.
2) Navigating liquidity issues.
significant financing costs related to the merger, but synergies were extensive
would have preferred lower coupon, but 15% was basically market price.
GE and GS recently borrowed money at 10%, so relatively speaking 15% is not bad.
3) Focus on growth.
Terrible year for auto sales. Assuming churn will increase. Consumer market weak. We have a plan.
Financial discipline will get us through short term. OEMs will turn around, but will take years. Will continue lowering opperating costs. Used cars, iPod, and direct consumer marketing mentioned. We have the ability to cut costs even further and will be the best year for EBITDA and FCF. How well depends on economy.
I heard what I wanted to hear.
Buy Buy Buy
DYODD.
I am back to full position.