Monday, September 22, 2008
James Mitarotonda
With a small headcount and moderate balance sheet, Mitarotonda's Barrington Capital goes after great deals, which he can than sell to his giant participating partners, among them Ramius and DB Zwirn. Money is no subject to Barrington, as co-investors are available, given its track recod in swaying board members and even general shareholder's meetings, to the strategy and planned course, all per Barrington Capital's vision. Pep Boys, the largest deal by size, and Syms, Steve Madden, Griffon, Register.Com, where all companies entered by Mitarotonda and over course of time forced to change strategy. Will buy 5-12% of any given stock and persist with the agenda of the change, untill tears down walls of resistance, in all of the companies dealt with.
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Does anyone know what is Barrington's remaining game plan for Pep Boys? They did some sale-leasebacks raising money to pay down dbt portions, which was a smart move. Then they spend some money to spruce up the stores. Whats next step or two?
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