“Activist” PSA Shareholders Seeking Board Shakeup

[Rhotchkiss]

Appears these “activist” shareholders are more interested in increased profits than having a cleaner, more professional and accurate outfit. But nevertheless, opportunity for change? Or a step in the wrong direction? Thoughts?

https://www.prnewswire.com/news-rele...301079859.html

[ejharrington]

Originally Posted by Rhotchkiss

Appears these “activist” shareholders are more interested in increased profits than having a cleaner, more professional and accurate outfit. But nevertheless, opportunity for change? Or a step in the wrong direction? Thoughts?

https://www.prnewswire.com/news-rele...301079859.html

More profits and a cleaner, more professional and accurate outfit aren't mutually exclusive. Over the long run, the two go hand in hand. I like the emphasis on adding technology to relieve backlog.

[Rich Klein]

Originally Posted by ejharrington

More profits and a cleaner, more professional and accurate outfit aren't mutually exclusive. Over the long run, the two go hand in hand. I like the emphasis on adding technology to relieve backlog.

I just wonder in a labor intensive business, and grading is labor intensive, what steps you can take to make things go faster. Rob Veres of Burbank just did a podcast which he said for any card purchased there is a 12-step process *If I remember that number correctly*. That's for him selling a card from his inventory.

I'd wager any card which comes into PSA (and SGC and BGS/BVG) has to have similar steps from receiving card in mail; processing order; having card graded; having card encapsulated, put into package; shipped (and I know I'm missing a couple here)

As Rob said, speed up ANY of the steps and continue to be accurate and you've just made Burbank a ton of money. The same is probably going to be true for PSA.

So if technology can speed up the process and maintain accuracy, then it's a win for all concerned. I suspect there might be more time on the front end for verification before a grader looks at a card and that would speed up the process.

Sounds counter-intuitive but I bet that's accurate to some extent.

Rich

[phikappapsi]

i remain somewhat amazed that someone with AI/Facial recognition hasn't poured resources into building a database from known exemplars of everything; and totally automated this process.

then every single card in could go through a weight, depth, density, measurement, blue light scan and be digitally graded. Fakes/Trims/rebacks?tea soaks etc - would all be caught in such a process.

[Bigdaddy]

Originally Posted by phikappapsi

i remain somewhat amazed that someone with AI/Facial recognition hasn't poured resources into building a database from known exemplars of everything; and totally automated this process.

then every single card in could go through a weight, depth, density, measurement, blue light scan and be digitally graded. Fakes/Trims/rebacks?tea soaks etc - would all be caught in such a process.

+1

I think that they are seeing a company with a backlog of orders (not keeping up with demand), sorely lacking in technology and management vision, that could significantly step up it's game and increase shareholder returns.

[Sean1125]

PSA has a backlog of 1,000,000 cards.

[Goudey77]

Originally Posted by phikappapsi

i remain somewhat amazed that someone with AI/Facial recognition hasn't poured resources into building a database from known exemplars of everything; and totally automated this process.

then every single card in could go through a weight, depth, density, measurement, blue light scan and be digitally graded. Fakes/Trims/rebacks?tea soaks etc - would all be caught in such a process.

I know a lot of folks on here think cards are very important. But in the grand scheme of things this hobby is still a very old school niche category. Although volume of grading seems high the overall profit margin is probably not enough to justify implementing any sort of next level technology.

It is what it is...in my honest opinion.

[swarmee]

Originally Posted by Goudey77

I know a lot of folks on here think cards are very important. But in the grand scheme of things this hobby is still a very old school niche category. Although volume of grading seems high the overall profit margin is probably not enough to justify implementing any sort of next level technology.

It is what it is...in my honest opinion.

It also has tremendous downside risks if everyone with currently graded altered cards then sends them back to PSA under their Grade Guarantee once they have computer/impartial grading.

[todeen]

I read the letter and was shocked they didn't say diddly about cleaning up PSA image of collaborating with known fraud artists. You'd think that a cleaner image would help create investor trust.

Sent from my SAMSUNG-SM-G930A using Tapatalk

[Bigdaddy]

Originally Posted by todeen

I read the letter and was shocked they didn't say diddly about cleaning up PSA image of collaborating with known fraud artists. You'd think that a cleaner image would help create investor trust.

Sent from my SAMSUNG-SM-G930A using Tapatalk

Umm, not sure that trust in PSA has taken even the slightest hit, looking at their backlog. Continued record prices for top-tier cards, huge backlog of people requesting their services. As much as we think that PSA is tarnished by this latest scandal, it does not seem to be moving the masses. What I do see is a company that can't meet demand for their product. And that is $$ left on the table for investors.