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Old 12-23-2008, 09:58 AM   #1
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Old 12-23-2008, 09:58 AM   #2
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Old 12-23-2008, 11:05 AM   #3
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">If Prescott Group tried take over Monaco and dump the top executives, it would have to pay a premium. The Monaco board approved new severance agreements in August for CEO Kay Toolson, President John Nepute and other top executives. If Prescott or any other investor were to take over the company, they’d have to pay Toolson and Nepute 200 percent of their base salaries — based on what they were before recent salary reductions — and the average of their bonuses the past 3 three years, which amounts to a total of somewhere between $3 million and $5 million for the two. </div></BLOCKQUOTE>

Awesome. That was two scoops of CYA during difficult economic times. I want to be a CEO when I grow up...


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Old 12-23-2008, 12:29 PM   #4
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Gee....I live in Prescott, I have a Monaco and I am VP of the family company (Gloria, of course is Prez!!)...We should qualify for some $$$$ also!!!
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Old 12-23-2008, 01:03 PM   #5
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by teofff:
Gee....I live in Prescott, I have a Monaco and I am VP of the family company (Gloria, of course is Prez!!)...We should qualify for some $$$$ also!!! </div></BLOCKQUOTE>Silly, they're based in Tulsa
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Old 12-23-2008, 02:16 PM   #6
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I would say that a $4 to $5 million dollar severance package for the Executives at Monaco would not be a deterrent to a takeover. This is acutually a pretty small number in the scope of things. The current Market cap of Monaco is approximately $19 million. I have not looked at their balance sheet, but I believe they have more than that in cash. This and the relatively low cost of termination of the Executives makes them very, very, very, very, ripe for a takeover!
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Old 12-23-2008, 02:55 PM   #7
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Others still own 86% of the stock so Prescott still has a way to go before they could take over.

Bob

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Jim Stewart:
I would say that a $4 to $5 million dollar severance package for the Executives at Monaco would not be a deterrent to a takeover. This is acutually a pretty small number in the scope of things. The current Market cap of Monaco is approximately $19 million. I have not looked at their balance sheet, but I believe they have more than that in cash. This and the relatively low cost of termination of the Executives makes them very, very, very, very, ripe for a takeover! </div></BLOCKQUOTE>
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Old 12-23-2008, 03:07 PM   #8
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In all seriousness....you would have to assume they were unhappy with present management to incur the cost of replacement. It would make more sense for them to gain seats on the board and influence the direction and strategies from there.
The entire RV industry, housing market, retial industry, etc., etc. is struggling, why would anyone think Monaco wouldn't be in the same situation. You could look at this from a positive stand point and say they made the investment because they consider the company well run, and when the economy eventually comes back, they would stand to profit handsomely from their investment.
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Old 12-23-2008, 07:23 PM   #9
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Prescott Group </div></BLOCKQUOTE>
Form 8-K for MONACO COACH CORP /DE/


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

26-Nov-2008

Change in Directors or Principal Officers



Item 5.02 - Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
Effective November 24, 2008, Monaco Coach Corporation ("Monaco") instituted company-wide pay reductions for its salaried employees, including its executive pay group. For the executive pay group, these reductions, which ranged from 20% to 40% of base salary, were in addition to the reductions that were implemented in July 2008 under the Executive Pay Reduction Program that was described in Monaco's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 22, 2008. Monaco has also terminated the Executive Pay Reduction Program. When Monaco returns to profitability, Monaco's Compensation Committee will consider whether any of the compensation that was eliminated through these reductions should be restored or paid.

The table below sets forth the new base salaries for the listed executive officers:


New
Name and Title Base Salary

Kay L. Toolson, Chairman of the Board and Chief
Executive
Officer $360,173
John W. Nepute, $228,880
President
P. Martin Daley, Vice President and Chief
Financial
Officer $190,215
Richard E. Bond, Senior Vice President,
Secretary and Chief Administrative Officer $187,325
Michael P. Snell, Vice President of Sales and
Marketing
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Old 12-24-2008, 09:28 AM   #10
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The point I was trying to make in my post is that very seldom does an Investment Group by 14% of a company whose stock is in the "black tank", unless they plan some action.

Monaco is a likely candidate for an acquisition. Many have gone under and many are in trouble. There has been and there will continue to be a consolidation in the industry. Monaco has some attractive brand names and good manufacturering capability when the market recovers.

A few years ago their market cap was close to $1 billion dollars, today it's $16.8 million dollars. Somewhere in between their is money to be made! You can count on them being "taken out". This is the type of take out that is very attractive to Venture Capitalists! If you can buy a large amount of the stock at $.50/share on the open markets, the less you need to offer a premium on for a total acquisition.
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Old 12-24-2008, 09:39 AM   #11
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So, in everybody's opinion, when should or should not we buy stock?
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Old 12-24-2008, 09:41 AM   #12
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JIm: I agree....It will be interesting to watch and see how their strategy evolves. I agree that they have one. Venture groups are typically pretty good at placing well thought out bets, so we can all follow this over coming months if not years.
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Old 12-24-2008, 12:12 PM   #13
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They are being replaced in the S&P 500 Index as of December 31, 2008 due to their decline over the last year. Funds will be required to sell shares held that are dedication to the S&P 500 index with their portfolios. Most would have taken care of the adjustment today, however, late balance selling should cause the price to go down slightly again next week. May be a time to buy.

I would advise that no one buy that can't afford to lose the entire investment, although this has a potential for a high return, as most high return potentials, it also has a very high risk.

This is by no means a reccomendation and is my personal opinion only! Monaco owners should never invest with their heart!
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Old 12-25-2008, 05:49 AM   #14
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Jim, Very well stated.
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