FRISCO, Texas, July 10 /PRNewswire/ -- Hall Financial Group, Ltd. announced that it has filed a Schedule 13D with the Securities and Exchange Commission as required to report that it and affiliates (all owned by Craig Hall and family) have purchased 7,625,500 shares of RadioShack Corporation representing a 5.64% ownership interest.
Hall Financial Group, Ltd. and affiliates (the Company) make investments based on a contrarian philosophy of searching out undervalued assets. Company analysis leads it to believe that RadioShack can be positioned for a turnaround.
"We acquired our interest in RadioShack with the belief that its strong brand recognition and broad market penetration provide a solid foundation from which a turnaround plan can be executed," said Craig Hall, chairman and founder of Hall Financial Group. "In addition, we see the recent announcement naming Julian Day chairman and CEO as a positive step. Mr. Day played an important leadership role in the resurgence of Kmart, which together with his prior successes are encouraging signs that he is up to the challenge of bringing RadioShack back to preeminence in its market sector."
"Our intention is to actively review and monitor RadioShack's financial and strategic direction, and in the future take such actions as appropriate given the circumstances at the time, including but not limited to purchasing additional shares, seeking representation on the board, selling some or all of our shares, and otherwise being involved and taking such steps as we may see appropriate," Hall continued.
The Company currently owns a more than 6% interest in AMR, the parent of American Airlines. The majority of this interest was purchased in 2004 and early 2005. AMR's current stock price is well in excess of Hall Financial Group's cost basis.
About Hall Financial Group, Ltd.
Hall Financial Group, Ltd. is a private investment company which together with affiliates (all owned by Craig Hall and family) hold a portfolio of marketable securities in excess of $1 billion as well as active operating businesses in market sectors ranging from real estate, oil and gas and software, to movie production and the vineyard and winery business. Two of the Company's principal public security holdings are AMR and RadioShack Corporation. For more information, visit http://www.hallfinancial.com/ .
