Didn't you buy the pref's in the 90's and post about how they were going to close the gap between the commons? The common shares are now $1.27 and the prefs at 67 cents.
All the "good" things in your post - I find them to be meaningless especially the comment that the prefs have a PE ratio of 4.
Prefs don't participate in the earnings of a company. They only get a dividend which (in your post you ignored the comment from the head dead head) is still questionable.
VRL and VRLPA are selling cheap because the market doesn't trust the Kirby's to do the right things for the minority shareholders. The only ones that will profit
from VRL are the Kirby's.
After all they only caused a several hundred million dollar loss in value for shareholders with the dividend cut. One burned twice shy.
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