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Taglich Brothers Initiates Coverage
on Manchester, Inc.
NEW YORK, May 3, 2007 – Taglich Brothers, Inc.
announces it initiated coverage of Manchester, Inc. (OTC BB: MNCS).
Manchester Inc. (OTC BB: MNCS), headquartered in
Dallas, Texas, retails used vehicles through nine automobile lots in
Georgia (4) and Tennessee (2) operating as “Nice Cars”, and Indiana (3)
operating under the name “Freedom Auto Sales”. The company operates on a
“Buy-Here/Pay-Here” basis; sales, credit application and processing, and
collections are all handled at the point of sale. The company extends
financing through its own financing arm. Most of its customers are of
limited means and have weak credit histories.
The company aims to pursue a strategy of “rolling up”
Buy-Here/Pay-Here dealerships and selling the acquired receivables
portfolios and receivables generated from ongoing retail operations.
These receivables will be sold through a financial intermediary, the
company’s line of credit lender, which will bundle some of the
receivables into securities (securitization) to be sold on the financial
markets.
The complete 17-page report is available at
www.taglichbrothers.com.
Taglich Brothers, Inc. is a full-service broker dealer
focused exclusively on microcap companies. The Company defines the
microcap segment of the equity market as companies with less than $250
million in market capitalization. Taglich Brothers currently offers
institutional and retail brokerage services, investment banking and
comprehensive research coverage to the investment community.
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the stock will be met or that predicted business results for the company
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Taglich Brothers, Inc. is based on public information. Taglich Brothers,
Inc. does not currently have an Investment Banking relationship with the
company mentioned and was not a manager or co-manager of any offering
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