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31	member 7/11/16 7:46PM 7/11/16 Update
Hi Jet, If I read this right we have (i) Essex Crane being sold at auction so that value is probably gone and (ii) Coast Crane apparently doing quite well and could sell today for more... login to read the rest view available tags
30	member 12/11/15 6:13PM Re: Re: Infrastructure Bill 29
Thanks Jet. I spoke with the management team and it sounds like Coast does about $10M a year in EBITDA...we could be near peak cycle if Seattle is any indication but that's what they are... login to read the rest view available tags
29	member 12/08/15 11:49AM Re: Infrastructure Bill 28
Shoobity, Generally, infrastructure spend should be a positive thing for the Essex Crane subsidiary – infrastructure is the primary use for crawler cranes. However, our due diligence was more focused on asset values than on the... login to read the rest view available tags
28	member 12/01/15 8:14PM Infrastructure Bill
Looks like it will be approved. Despite all of the ESSX issues including th 4th forebearance today is this pretty good news for them or at this point is it somewhat mute on the Essex view available tags
27	member 11/17/15 11:12AM Re: Re: Re: Re: Re: Re: Updated thoughts 26
Dali – the quick answer is that we talked to management. When we initially did our write-up, there was much less segment detail publicly shared, so we made some assumptions about OLV and debt allocations. Now,... login to read the rest view available tags
26	member 11/17/15 2:10AM Re: Re: Re: Re: Re: Updated thoughts 25
Thanks for the colour. How did you arive at $101m OLV for Coast Crane? As per your write-up it was at $83.6m (+$10m for other assets). Was there an upwards revalaution of Coastal assets? view available tags
25	member 11/16/15 8:02PM Re: Re: Re: Re: Updated thoughts 24
Thanks for the note, Dali. We thought the recent results gave some signs for optimism – building demand is up, performance is stronger on gross margin and the SG&A cuts haven’t hit the P&L yet.... login to read the rest 1 view available tags
23	member 10/20/15 8:00PM Re: Re: Updated thoughts 22
I would also think you prob dont need a COO and a CRO. view available tags
22	member 10/20/15 7:51PM Re: Updated thoughts 21
Hi Whopper, Thanks for the kind words. No significant new thoughts right now. Our general point of view remains the same from the last time that we posted on ESSX. Re: the COO, he did not resign... login to read the rest view available tags
20	member 9/01/15 6:13PM Enjoy
Nothing like earning 73K shares for: "2. Shares issued as compensation for Director's participation in the Strategic Planning and Finance Committee of the Board of Directors for the period January 1, 2015 through June 9, 2015, view available tags
19	member 8/19/15 5:09PM Re: Endgame here now 17
Hi Shoobity. Our key thoughts are still the same – NOLV after debt repayment is considerably higher than equity value and the bank syndicate is unlikely to foreclose in the near-term. We spoke with a... login to read the rest view available tags
17	member 8/10/15 10:47AM Endgame here now
Hi guys, Wanted your thoughts on the endgame here for ESSX now after the latest earnings call and restructuring of ESSX crane. view available tags
14	member 7/13/15 8:55PM Re: Re: Re: ESSX Announcement 13
Hi Shoobity. We are not credit experts, but our take on your questions: You are correct – we do not believe the Essex unit is able to cover interest expense at the default rate. We think... login to read the rest view available tags
13	member 7/09/15 1:21PM Re: Re: ESSX Announcement 12
Thanks Jet. A few questions: 1. Wells' move makes sense in that regard but it would appear there is no way they can afford the interest rate jump which should be $4-$5M more in interest on... login to read the rest view available tags
12	member 7/08/15 3:00PM Re: ESSX Announcement 11
Shoobity - apologies for the response delay here – we wanted to speak with a few folks we know that do asset-based lending. At a high level, we are not extremely concerned here. Our original... login to read the rest view available tags
11	member 7/06/15 6:48PM ESSX Announcement
Hi Jet, Not sure if you our last comment. Would appreciate your thoughts on that. Any thoughts on the announcement today of not selling Essex Crane. http://finance.yahoo.com/news/essex-rental-corp-announces-corporate-213000297.html view available tags
10	member 6/23/15 5:42PM Re: Re: Re: Earnings/Call 9
Hi Jet, Just saw this come across the board. I had thought they had renegotiated this already but I guess not. Is this a significant concern in your opinion? http://www.sec.gov/Archives/edgar/data/1373988/000137398815000133/essx-20150623x8k.htm 2 view available tags
9	member 5/08/15 2:20PM Re: Re: Earnings/Call 8
Great thank you. Management and the activist are apparently playing a game of he said she said. Entertaining. view available tags
8	member 5/08/15 1:53PM Re: Earnings/Call 7
8,Our general view is much the same as discussed in our original write-up, which is that the value of the equity is drastically lower than the value of the net assets. Nothing material has happened... login to read the rest view available tags
7	member 5/07/15 9:45AM Earnings/Call
HI Jet, Wanted your thoughts on the quarter and the call if anything popped out at you? view available tags
5	member 5/04/15 1:01PM Looks like proxy fight coming
Lee Keddie is affiliated with Casey Capital, and management says they have reached out to Lee Keddie with no response, while Casey says they have reached out to management with no response.... Anyone talk to... login to read the rest view available tags
4	member 3/24/15 11:39AM Re: Taxes 3
Re: taxes, we don't have a great sense of the true cost basis or tax rate details, but the depreciated book value of the rental fleet at 9/30/14 is $272M. The NOLV that we project... login to read the rest view available tags
2	member 3/21/15 2:37PM Re: discount 1
As we understand it, the discount doesn’t apply to the other types of cranes because there is an active secondary market for these other pieces of equipment, so it’s pretty easy to buy and sell... login to read the rest 3 view available tags
1	member 3/20/15 3:58PM discount
"Conversations with an appraiser who estimated that a 15% discount to OLV was appropriate. He indicated that because he believes that only 50 traditional crawler cranes trade hands annually in the US, bringing 124 to... login to read the rest 1 view available tags

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			2011	2012
Price:	11.40	EPS	$0.00	$0.00
Shares Out. (in M):	81	P/E	0.0x	0.0x
Market Cap (in $M):	923	P/FCF	0.0x	0.0x
Net Debt (in $M):	139	EBIT	0	0
TEV (in $M):	1,062	TEV/EBIT	0.0x	0.0x

Description

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