$PBIB

Hi, I found something interesting today.

2011/11/29 - The Clinton Group has offered to buy stock from the company at book value, but the company has refused, he writes. According to the balance sheet, the company’s book value per share is $8.38.

August 5, 2011 - Clinton Group held 6.2% of the company.

November 23, 2011 - Clinton Group held 9.4% stake in the company.

--- As I see it, there is a large activist investor willing to buy the company at over $8. Apparently management is inept. I don't care how dumb management is. If there is a huge buyer willing to pay $8 and is accumulating the stock and the stock does look cheap based on fundamentals and is trading at $3 or lower, it's worth looking into.

Their market capitalization is their present cash flow. Sounds good to me.

The 51% owner of the company is the chairman:
http://people.forbes.com/profile/j-chester-porter/64648

http://www.bizjournals.com/louisville/print-edition/2011/07/22/shareholders-ask-for-leadership-change.html?page=all

I'll be buying some of this.

Glen Bradford