How Is AMREP Corporation Doing?

seekingalpha.com has a article about AMREP titled “Amrep’s Rio Rancho Dream May Turn Out To Be A Desert Mirage“. Everyone who lives in Rio Rancho should know about AMREP (especially if they live in one of their shitty houses). Overall the article indicates that the company’s media business is on the decline and it’s not well understood how much it’s real estate is worth.

It is currently a company that engages mainly in the business of subscription fulfillment services, newsstand distribution services and product packaging and fulfillment services as well as a bit of staffing businesses. We will call these businesses collectively as Media services and they make up pretty much all of the company’s business activities on a regular basis. The second aspect of the stock’s value is its large ownership of land in the city of Rio Rancho, New Mexico.

In the 1960s, AXR purchased the massive plot of land in Rio Rancho and it was mass marketed to people all over the world as a retirement home or an investment property. The 1960s ads marketed them as wonderful investments at a mere $10/month attracted investors worldwide and particularly from New York. AXR then sold thousands of plots to different investors without considering the future development possibilities of Rio Rancho. Thus, Rio Rancho is now left with the legacy of this antiquated platting method where any meaningful area for development has already been developed and most of the land left has been divided in ownership due to AXR’s own past plot sales.

Be sure to check out their website, which is as shitty as their houses.

Thoughts About GT Advanced Technologies

In November of 2013 azcentral.com reported “Apple to buy vacant Mesa building, bring 2,000 jobs to Valley

The deal, which was announced by GT in a regulatory filing Monday afternoon, is seen as a coup for Arizona, drawing excitement and praise from Gov. Jan Brewer, Mesa Mayor Scott Smith and a variety of economic-development officials.

Not even a year later the whole thing has fallen apart with GT Advanced Technologies filing for bankruptcy and laying off 727 people from the plant. I can’t help think about those people and how excited they must have been when the plant first opened and how shitty they feel today. I wonder if Tim Cook and the other managers at Apple are also thinking about these people loosing their jobs.

GT called it’s contract with Apple “oppressive and burdensome”. It makes me think that Apple is used to making whatever demands they want of Chinese companies and the Chinese companies get as much slave labor as needed to get done what ever Apple requests. GT was unable to respond like a Chinese company.. This could be bad for American manufacturing. Apple should be making their parts in America, but will they even try to work with another American company? Will another American company want to work with Apple? Will anyone learn anything from this?

I interviewed to work at GT in February of this year. I was not offered a job because I was unable pick up and move to Arizona immediately. I suspect I would have been offered a job as I think I was well qualified. I guess I could say that I was lucky I didn’t get laid off twice in one year. I don’t feel lucky, I just feel bad about the whole situation and everyone that is loosing their job.