Posted on 02/16/2015 12:41:32 PM PST by Lorianne
Markets are allowed their petty indiscretions, of course. But these petty indiscretions seem to be piling up.
Bloomberg last week drew attention to the fact that shares of The Grilled Cheese Truck Inc. had commenced trading on the OTCQX marketplace under the ticker GRLD:
“Let’s look at the fundamentals of the Ft. Lauderdale, Florida-based company. Based on the 18 million shares outstanding and a recent stock price of $6 the company has a market value of about $108 million.
No matter how much you like grilled cheese… I can’t see this as a reasonable valuation.
“If you go to the company’s website, you will learn that ‘The company currently operates and licenses grilled cheese food trucks in the Los Angeles, CA area and Phoenix, AZ and is expanding into additional markets with the goal of becoming the largest operator in the gourmet grilled cheese space.’
“[A]ccording to the company’s financial statements, it has about $1 million of assets and almost $3 million in liabilities. In the third quarter of 2014, it had sales of almost $1 million, on which it had a net loss of more than $900,000.”
“I can’t think of a more interesting sign of the old irrational exuberance in equity markets than a publicly traded grilled cheese truck (four in this case) business trading at a $100-million-plus valuation. That sort of thing doesn’t happen unless there is significant excess in the markets.”
Any reference to a company seeking to dominate the “gourmet grilled cheese space” is desperately seeking a twin reference to a slogan from late 1999 (right before the bubble burst):
“Our business strategy is to lose money on every sale but make up for it in volume.”
(Excerpt) Read more at zerohedge.com ...
I guess, but I’m not that trendy [read as cheap!], maybe the one with bacon...? ;)
Mmm...those sound really good, especially the Goat Cheese Melt. Prices don’t seem unreasonable. Good sandwiches on the San Fran Peninsula are all in the $8-11 range now at all the sandwich spots. Another 30 to 50 years and they’ll be $80 - $110 each. Maybe at some point we’ll get a “New Dollar” with two zeroes lopped off.
A crusty shiny brown meat pie .....
floating in a sea of iridescent green pea soup....
and topped with a good dose of tomato ketchup....
ITALIAN SPECIAL
Take your best hoagie or kaiser roll, and spread mayo and spicy mustard, one to each side.
Add 2 slices each thin shaved roast beef, hard salami, turkey, ham and either provolone or swiss cheese.
Top with thin shred lettuce, shaved onion, tomato slices.
Sprinkle with oregano, and douse with olive oil and malt vinegar. Eat and repeat!
or the MY WAY SPECIAL
buy bread on sale, stack deep with cheap cold cuts, lettuce, tomato and serve with a side of Frito’s
Sounds better than a wish sandwich, that’s where you take two pieces of bread and WISH you had some meat.
Throw some broccoli in there and it will qualify is the most inedible dish imaginable by mankind.
Make it up in volume!
I thought it was Mark Twain.
You take two pieces of bread and jam them together.
Twain lost his shirt in the Panic of 1907. He wouldn’t have said that.
Ummm... the other day I had a ricochet biscuit. A ricochet biscuit is the
kind of a biscuit that’s supposed to bounce back off the wall into your
mouth. If it don’t bounce back, hee hee hee,... you go hungry!
How about a billion-dollar Shake Shack?
I’ve been there before.
Abe Lincoln?
Lincoln was 28 for the Panic of 1837, and 47 for the Panic of 1856. He wasn’t a financier either time.
You might be amazed at how creative folks can get with a grilled cheese. I’d give ‘em at least one try.
Mostly I prefer to grill ‘em myself, though.
My MY WAY? Bread, mayo/mustard, cotto salami and lettuce. Been eating those since I was a kid. Even better with cold beer!
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