Nat Turner bought PSA

[chriskim]

I always like to hear successful stories of young kid starts a company and sold at billions! But realize Mr. Turner is a PSA10s collector and that doesn't make this PSA purchase sound right to me.

Any thought?

[D. Bergin]

LOL. Young kid makes good. Buys big company with his hard-earned boot strappin' dollars. Instantly sets to gouging customers with huge price hikes.

Guess there wasn't an opening in the Texas Energy Market for him, and this was the next best thing.

Sorry, feelin' a little salty today.

[conor912]

Originally Posted by D. Bergin

Guess there wasn't an opening in the Texas Energy Market for him, and this was the next best thing.

Or big pharma. Martin Shkreli would be proud.

[FrozenInferno]

The Nat Turner group just finalized the sale what, a week ago? They didn't run in the door and change the pricing that quickly. PSA had already raised prices a couple of times over the past year and they were perfectly capable of setting the price hikes in motion long before the sale went through. I think it's too quick to point fingers at the new ownership.

Now if a few months go by and prices double again then sure, I'll grab my pitchfork.

[Leon]

Originally Posted by FrozenInferno

The Nat Turner group just finalized the sale what, a week ago? They didn't run in the door and change the pricing that quickly. PSA had already raised prices a couple of times over the past year and they were perfectly capable of setting the price hikes in motion long before the sale went through. I think it's too quick to point fingers at the new ownership.

Now if a few months go by and prices double again then sure, I'll grab my pitchfork.

Yes, I am sure the new owners didn't know and/or analyze the fact they were raising prices again in the company they just bought and own.

.

[Exhibitman]

PSA is a de facto monopoly and it is behaving precisely as a monopoly would be expected to behave: extract the most money from the captive consumers as it can while adding nothing to the cost, and service be damned. That is why we discourage monopolies.

PSA's new management knew precisely what it purchased--a monopoly--and understood precisely what it was going to do to goose revenues, and it wasn't chopping through the backlog. That's why the price increases dropped with no warning, why longtime preferred customers are being left out in the cold, etc. If the backlog holds up, expect further price increases.

[Peter_Spaeth]

Originally Posted by FrozenInferno

The Nat Turner group just finalized the sale what, a week ago? They didn't run in the door and change the pricing that quickly. PSA had already raised prices a couple of times over the past year and they were perfectly capable of setting the price hikes in motion long before the sale went through. I think it's too quick to point fingers at the new ownership.

Now if a few months go by and prices double again then sure, I'll grab my pitchfork.

wut??