Pioneer Railcorp announced December 22, 2004 that it will delist its stock from the Chicago Stock Exchange and NASDAQ. This will result iin Pioneer becoming a privately traded company. Reasons given in a company press release were thin trading volumes and costs of remaining listed.
LC
I wonder what this will do to their financial position. I guess they figured it will help.
It looks like they have already removed their “Investor Information” page.
They sure run a lot of railways.
Perhaps they’re better off being a private company.
There’s not much point in being listed if nobody is trading their shares.
If you knew what certain Pioneer upper management did to make money, you would not invest in it either - in spite of some of the efforts of the individual railroads staff that pay the bills.
MC-
Are you referring to the ownership and operation of certain non-railroad related “clubs”?
LC
LC
That’s one of the at least three issues. (stockholders and regulators frown on that kind of stuff)
MC
True, but from a strictly financial perspective I’m sure they bring in more than some of the railroads…lol…
Hey, HOOTERS has an airline. Guy Brenkman has…well…“clubs” and Trains…
Probably the fact that with Sarbanes-Oxley and all the other regulation and enforcement out there it is getting ridiculously hard to run a small public company anymore has a great deal to do with Pioneer going private. Also, they can cut some fairly significant costs without the public markets…
LC