continued Allen mentions that Glacier might be a bit of an asset play. The market gives the stock a valuation of a little less than $50 million. That's below the total assets of $85 million and the value of property and equipment of $56.4 million. But do those assets have that much value with sales going nowhere and debt piling up?
I made five calls to this company asking for comment. I couldn't get an interview. That's typical. The company has always been reticent with the press and shareholders. "The company doesn't seem to be interested in dealing with shareholders," says Leedom. There's one exception, of course: a Los Angeles money manager, Richard A. Kayne, holds 51 percent of the stock. Management listens to him. Kayne should raise more Cain.