In a classic scene from the 1967 film Cool Hand Luke, the prison warden whips an insubordinate inmate (Paul Newman) into a ditch then stands over him and seethes: “What we got here is a failure to communicate.”
In a Dec. 17 letter to Houston Wire and Cable (HWCC), D3 Funds’ David Nierenberg disclosed a 9.9% stake in the company and quoted the famous movie line. But while Nierenberg was friendlier than the warden in Coll Hand Luke, his sense of frustration with his fund’s long-held investment was evident.
In 1951, Denver resident Ida Goldstein purchased the formula for Scott’s Liquid Gold for $350 as a business opportunity for her three young adult sons. The guys began mixing and bottling the amber-colored wood care oil by hand in the family garage. So was born the brand that eventually found its place into households across America.
Some 65 years later, the company is going strong.
San Francisco-based HMI Capital filed a 13G this morning disclosing a 6.11% position in SailPoint Technologies Holdings (SAIL). The software company was HMI's #12 holding as of the second quarter's close. But after HMI Capital increased its SailPoint stake by 162%, purchasing 3.4 million additional shares as...