Wayside Technology Group (WSTG) Earns Coverage Optimism Rating of 0.12

News articles about Wayside Technology Group (NASDAQ:WSTG) have been trending somewhat positive this week, according to Accern Sentiment. The research group identifies negative and positive press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Wayside Technology Group earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 47.9828653623855 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

Shares of Wayside Technology Group traded up $0.03, reaching $13.75, during midday trading on Tuesday, according to Marketbeat.com. 999 shares of the company were exchanged, compared to its average volume of 7,110. Wayside Technology Group has a 1-year low of $12.60 and a 1-year high of $20.60. The stock has a market cap of $61.82 million, a PE ratio of 10.16 and a beta of 0.23.

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Wayside Technology Group (NASDAQ:WSTG) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $0.36 earnings per share (EPS) for the quarter. Wayside Technology Group had a net margin of 1.42% and a return on equity of 15.44%. The firm had revenue of $40.55 million during the quarter.

The business also recently declared a quarterly dividend, which was paid on Monday, May 21st. Shareholders of record on Monday, May 14th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend was Friday, May 11th.

In other Wayside Technology Group news, CEO Simon F. Nynens sold 6,500 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $14.26, for a total value of $92,690.00. Following the completion of the sale, the chief executive officer now directly owns 274,296 shares in the company, valued at $3,911,460.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.90% of the company’s stock.

About Wayside Technology Group

Wayside Technology Group, Inc operates as an information technology channel company worldwide. It operates in two segments, Lifeboat Distribution and TechXtend. The company distributes technical software and hardware to corporate and value added resellers, consultants, and systems integrators; and software, hardware, and services for corporations, government organizations, and academic institutions.

Zacks: Brokerages Anticipate Paccar (PCAR) Will Announce Earnings of $1.43 Per Share

Equities research analysts expect Paccar (NASDAQ:PCAR) to report earnings per share of $1.43 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Paccar’s earnings. The highest EPS estimate is $1.50 and the lowest is $1.39. Paccar reported earnings of $1.06 per share during the same quarter last year, which indicates a positive year over year growth rate of 34.9%. The business is scheduled to issue its next earnings report on Tuesday, July 24th.

On average, analysts expect that Paccar will report full-year earnings of $5.63 per share for the current financial year, with EPS estimates ranging from $5.32 to $5.95. For the next year, analysts anticipate that the business will report earnings of $5.76 per share, with EPS estimates ranging from $5.30 to $6.25. Zacks’ EPS calculations are an average based on a survey of analysts that cover Paccar.

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Paccar (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 24th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.14. Paccar had a net margin of 8.99% and a return on equity of 21.26%. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year.

PCAR has been the topic of several recent analyst reports. Longbow Research upgraded shares of Paccar from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, March 6th. ValuEngine upgraded shares of Paccar from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded shares of Paccar from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Wednesday, April 18th. Stifel Nicolaus restated a “hold” rating and set a $77.00 target price on shares of Paccar in a research report on Tuesday, January 30th. Finally, Susquehanna Bancshares set a $78.00 target price on shares of Paccar and gave the stock a “hold” rating in a research report on Friday, March 9th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company’s stock. Paccar has an average rating of “Hold” and a consensus price target of $74.47.

Paccar traded down $0.59, hitting $64.64, on Friday, according to Marketbeat.com. 911,065 shares of the company were exchanged, compared to its average volume of 1,878,655. The company has a current ratio of 2.45, a quick ratio of 2.29 and a debt-to-equity ratio of 0.69. Paccar has a fifty-two week low of $60.36 and a fifty-two week high of $79.69. The firm has a market capitalization of $22.95 billion, a P/E ratio of 15.17, a PEG ratio of 1.19 and a beta of 1.24.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Shareholders of record on Tuesday, May 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, May 14th. This is an increase from Paccar’s previous quarterly dividend of $0.25. Paccar’s dividend payout ratio is 26.29%.

In related news, VP C Michael Dozier sold 13,348 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $63.45, for a total transaction of $846,930.60. Following the transaction, the vice president now owns 8,860 shares of the company’s stock, valued at $562,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider T. Kyle Quinn sold 9,964 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $64.69, for a total transaction of $644,571.16. Following the transaction, the insider now directly owns 32,000 shares in the company, valued at approximately $2,070,080. The disclosure for this sale can be found here. 2.64% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PCAR. BlackRock Inc. lifted its stake in shares of Paccar by 8.9% during the fourth quarter. BlackRock Inc. now owns 29,378,299 shares of the company’s stock valued at $2,088,211,000 after buying an additional 2,401,617 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Paccar by 1,334.1% during the fourth quarter. Two Sigma Advisers LP now owns 1,936,530 shares of the company’s stock valued at $137,649,000 after buying an additional 1,801,500 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Paccar by 5,414.0% during the first quarter. Summit Trail Advisors LLC now owns 1,540,398 shares of the company’s stock valued at $1,540,000 after buying an additional 1,512,462 shares during the period. Viking Global Investors LP purchased a new position in shares of Paccar during the fourth quarter valued at approximately $80,152,000. Finally, Fulcrum Capital LLC purchased a new position in shares of Paccar during the fourth quarter valued at approximately $52,026,000. 63.19% of the stock is currently owned by institutional investors and hedge funds.

About Paccar

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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The curious case of the White House official Trump says 'doesn't exist'

On Thursday the Trump administration held a "background briefing" where a "senior White House official" provided information to reporters from The New York Times, CNN and lots of other news outlets.

On Saturday, President Trump claimed the aide "doesn't exist."

It's a flagrant example of Trump's problem with the truth.

The president frequently claims, without evidence, that journalists make up sources. This is widely recognized to be a fib at best and a lie at worst.

He said it again in a tweet against The Times on Saturday: "Use real people, not phony sources."

But members of the White House press corps quickly pointed out that the unnamed "official" met with a roomful of reporters. Trump's claim was easily proven false.

To attend the briefing -- about the status of President Trump's possible summit with North Korean leader Kim Jong Un -- reporters had to agree to leave the aide's name out of their stories.

This tactic, a "background briefing," is frequently employed by White House press shops. Reporters regularly object to it, but it's a long standing fact of White House coverage.

At Thursday's briefing, the aide was asked to justify the anonymous nature of the Q&A, and the official said the White House wanted to "let the president's remarks stand."

So on Thursday the aide was identified in stories as "a senior White House official" or "a senior administration official."

The aide discussed Trump's surprise decision to cancel the June 12 summit between the United States and North Korea.

According to CNN's report, the official "downplayed the likelihood of the summit proceeding on course."

Among other things, the official said "the ball is in North Korea's court right now, and there's really not a lot of time."

The aide added, "June 12th is in 10 minutes."

By the next day, Trump was talking about rescheduling the summit. In a story for Saturday's paper, The New York Times pointed out the disconnect between what Trump was saying and what his aides had been saying.

The Times wrote: "On Thursday, for example, a senior White House official told reporters that even if the meeting were reinstated, holding it on June 12 would be impossible, given the lack of time and the amount of planning needed."

Trump singled out the "impossible" sentence in his faulty tweet on Saturday. He evidently objected to that word. Technically the aide did not say the June 12 date was "impossible," but that was the impression the Times reporters came away with, based on the tone and tenor of Thursday's briefing.

'If': The magic word for President Trump's conspiracy theory

Trump wrote on Saturday: "The Failing @nytimes quotes 'a senior White House official,' who doesn't exist, as saying "even if the meeting were reinstated, holding it on June 12 would be impossible, given the lack of time and the amount of planning needed." WRONG AGAIN! Use real people, not phony sources."

"Impossible" is open to interpretation. But the White House official definitely exists.

David Sanger, one of the two reporters who wrote the story, tweeted in response, "The reason that this official was not named in our story is that the White House press office insisted that its briefing -- for hundreds of reporters -- was on background. Best way to alleviate the President's concern about anonymous sources would be for WH to name the official."

Sanger's colleague Maggie Haberman added: "Imagine being the WH background briefer who led this briefing, who now has his boss -- the president of the US -- saying he/she doesn't exist."

The dust-up caused some onlookers to laugh and others to lament Trump's constant attacks against the press.

It also lent credence to "60 Minutes" correspondent Lesley Stahl's recent remarks about Trump's real anti-media agenda.

Stahl recalled saying to Trump, "That is getting tired, why are you doing it?"

According to Stahl, he replied, "You know why I do it? I do it to discredit you all and demean you all so when you write negative stories about me no one will believe you."

PCSB Bank (PCSB) and Heritage Financial (HFWA) Critical Comparison

PCSB Bank (NASDAQ: PCSB) and Heritage Financial (NASDAQ:HFWA) are both small-cap finance companies, but which is the better business? We will compare the two businesses based on the strength of their analyst recommendations, profitability, dividends, valuation, risk, earnings and institutional ownership.

Valuation & Earnings

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This table compares PCSB Bank and Heritage Financial’s gross revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
PCSB Bank	$45.04 million	8.25	$3.22 million	N/A	N/A
Heritage Financial	$183.29 million	6.02	$41.79 million	$1.48	21.93

Heritage Financial has higher revenue and earnings than PCSB Bank.

Insider & Institutional Ownership

43.1% of PCSB Bank shares are owned by institutional investors. Comparatively, 77.0% of Heritage Financial shares are owned by institutional investors. 1.6% of PCSB Bank shares are owned by insiders. Comparatively, 1.8% of Heritage Financial shares are owned by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company is poised for long-term growth.

Profitability

This table compares PCSB Bank and Heritage Financial’s net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
PCSB Bank	4.48%	2.55%	0.50%
Heritage Financial	20.10%	9.09%	1.16%

Dividends

PCSB Bank pays an annual dividend of $0.12 per share and has a dividend yield of 0.6%. Heritage Financial pays an annual dividend of $0.60 per share and has a dividend yield of 1.8%. Heritage Financial pays out 40.5% of its earnings in the form of a dividend.

Analyst Recommendations

This is a summary of recent ratings and recommmendations for PCSB Bank and Heritage Financial, as reported by MarketBeat.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
PCSB Bank	0	0	1	0	3.00
Heritage Financial	0	0	5	0	3.00

PCSB Bank currently has a consensus target price of $24.00, suggesting a potential upside of 17.42%. Heritage Financial has a consensus target price of $35.00, suggesting a potential upside of 7.86%. Given PCSB Bank’s higher possible upside, analysts plainly believe PCSB Bank is more favorable than Heritage Financial.

Summary

Heritage Financial beats PCSB Bank on 9 of the 13 factors compared between the two stocks.

PCSB Bank Company Profile

PCSB Financial Corporation operates as the bank holding company for PCSB Bank that provides financial services to individuals and businesses in Putnam, Southern Dutchess, Rockland, and Westchester Counties in New York. Its deposits products include non-interest bearing demand, NOW, money market, escrow, and savings accounts, as well as certificates of deposit. The company also offers commercial real estate, multi-family residential real estate, commercial business, construction, residential mortgage, consumer, and consumer and business installment loans, as well as home equity lines of credit. It provides its services from executive offices/headquarters and 15 banking offices. The company was founded in 1871 and is headquartered in Yorktown Heights, New York.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit. Its loan portfolio includes commercial and industrial loans, owner-occupied and non-owner occupied commercial real estate loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, business lines of credit, term equipment financing, and term real estate loans, as well as commercial loans focuses on real estate related industries and businesses in agricultural, healthcare, legal, and other professions. The company also originates loans that are guaranteed by the U.S. Small Business Administration; and offers trust services through trust powers, as well as objective advice. As of December 31, 2017, the company had a network of 59 branches located in Washington and Oregon. The company was formerly known as Heritage Financial Corporation, M.H.C. and changed its name to Heritage Financial Corporation in 1998. Heritage Financial Corporation was founded in 1994 and is headquartered in Olympia, Washington.

Positive Correlation Holds for Bond Yields and Stocks

Higher U.S. bond yields aren’t to blame for the lackluster stock-market returns of the past three months.

So says Credit Suisse’s chief U.S. equity strategist Jonathan Golub, who found that the Russell 1000 Index has performed much better this year when bond yields went up. Specifically, the index has accumulated gains of 8.2 percent on days when 10-year Treasury yields rose, compared with losses of 6.3 percent when yields fell.

“Many investors are espousing the view that higher rates are the cause of 2018’s higher volatility and weaker performance,” Golub wrote in a note to clients Monday. “The data clearly contradicts this assertion.”

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One prevailing fear this year was that stocks would become less attractive relative to bonds as the Federal Reserve continued its monetary policy tightening. Higher rates would also make it more expensive for companies to borrow money, eroding profit gains even as the economy expands.

That theory has been battered in recent weeks, with the S&P 500 heading for the best month since January at the same time 10-year yields spiked above 3.1 percent for the first time in seven years.

Part of the gains came from corporate profits that grew 24 percent, the fastest pace in seven years. The surge boosted the S&P 500’s earnings yield to an extent that the runup in bond yields by 50 basis points did little to dent the stock market’s advantage over fixed income.

The latest resilience doesn’t mean the equity market will take ever higher yields in stride. Wall Street equity strategists agree that it’d be a mistake to ignore the yield risk, though they’re split on the levels at which bond yields pose an imminent threat to stocks.

According to Golub, the red line is at 3.5 percent in the 10-year yield, about 44 basis points above its current level. David Kostin at Goldman Sachs sees danger at either 4 percent or a one-month surge in rates of roughly 20 basis points or more.

For a large part of the past two decades, stocks and bond yields have enjoyed a positive relationship, meaning higher yields tend to go hand in hand with higher equity prices. That’s been the case as inflation has been nowhere to find, leaving economic growth the main driver for both assets.

Yet as the economic recovery approaches its 10th year and the labor market tightens, inflation may creep up, causing the link to break down. In other words, rates may keep going up, but stocks may suffer should companies fail to pass on higher costs to customers. Such negative correlation persisted in the three decades through 1998, when consumer price gains were running at 5 percent a year.

“Rising labor costs, commodity prices and logistics costs post a significant risk to S&P 500 profit margins,” Kostin wrote in a note to clients Friday. “As a result, the ability of companies to increase earnings growth to offset valuation contraction stemming from rising interest rates may be constrained.”

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$465.05 Million in Sales Expected for Aerojet Rocketdyne Holdings (AJRD) This Quarter

Wall Street brokerages expect Aerojet Rocketdyne Holdings (NYSE:AJRD) to post sales of $465.05 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Aerojet Rocketdyne’s earnings, with the lowest sales estimate coming in at $456.80 million and the highest estimate coming in at $473.30 million. Aerojet Rocketdyne reported sales of $459.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that Aerojet Rocketdyne will report full year sales of $1.93 billion for the current year, with estimates ranging from $1.90 billion to $1.96 billion. For the next financial year, analysts anticipate that the company will report sales of $2.01 billion per share, with estimates ranging from $2.00 billion to $2.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Aerojet Rocketdyne.

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Aerojet Rocketdyne (NYSE:AJRD) last issued its earnings results on Tuesday, May 1st. The aerospace company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The business had revenue of $492.00 million for the quarter, compared to the consensus estimate of $417.68 million. Aerojet Rocketdyne had a positive return on equity of 46.38% and a negative net margin of 0.06%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share.

A number of research firms recently commented on AJRD. Zacks Investment Research lowered shares of Aerojet Rocketdyne from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. ValuEngine raised shares of Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $37.33.

Aerojet Rocketdyne stock traded up $0.47 during midday trading on Wednesday, reaching $29.19. The stock had a trading volume of 547,328 shares, compared to its average volume of 794,415. Aerojet Rocketdyne has a twelve month low of $20.17 and a twelve month high of $36.25. The company has a debt-to-equity ratio of 3.47, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 39.45, a P/E/G ratio of 5.38 and a beta of 1.03.

A number of institutional investors have recently bought and sold shares of AJRD. Carillon Tower Advisers Inc. acquired a new position in Aerojet Rocketdyne in the 1st quarter worth approximately $12,445,000. Eagle Asset Management Inc. boosted its stake in Aerojet Rocketdyne by 621.7% in the 4th quarter. Eagle Asset Management Inc. now owns 464,294 shares of the aerospace company’s stock worth $14,485,000 after purchasing an additional 399,958 shares during the period. Reinhart Partners Inc. boosted its stake in Aerojet Rocketdyne by 433.7% in the 4th quarter. Reinhart Partners Inc. now owns 384,282 shares of the aerospace company’s stock worth $11,990,000 after purchasing an additional 312,274 shares during the period. JPMorgan Chase & Co. boosted its stake in Aerojet Rocketdyne by 151.7% in the 1st quarter. JPMorgan Chase & Co. now owns 365,756 shares of the aerospace company’s stock worth $10,230,000 after purchasing an additional 220,428 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Aerojet Rocketdyne by 461.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 261,406 shares of the aerospace company’s stock worth $7,312,000 after purchasing an additional 214,838 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Aerojet Rocketdyne Company Profile

Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.

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Too Many of 2017's Highest-Paid CEOs Did a Terrible Job for the Money

In this segment of the MarketFoolery podcast, host Chris Hill and Foolish investor-at-large Tim Hanson discuss the absurdity of C-suite compensation. Granted, running a large public company is a tough job, but the complete disconnect between what the top executives are paid and the results they produce should have shareholders, board members, and employees up in arms.

The Fools consider the number of overpaid CEOs who were actually fired for cause, the lack of a connection between CEO pay and organizational or shareholder benefit, the size of their golden parachutes, and more.

A full transcript follows the video.

This video was recorded on May 15, 2018.

Chris Hill: It's nice that some of the CEOs of public companies are making a good living, because I was really worried about some of them. And congrats to Evan Spiegel, the CEO of Snap�(NYSE:SNAP), who, as it turns out, was the highest paid CEO in 2017. He made just over $500 million.

Tim Hanson: That wasn't all cash, though, was it? No!

Hill: No, much of that came from a huge stock grant that vested when Snap went public.

Hanson: I mean, that'll be worthless soon.

Hill: [laughs] But here's the thing. When you juxtapose the just north of $500 million that he made in 2017 with the $720 million loss that Snap took in 2017, I can't help but think, there's a way to decrease that loss. You looked at the list. What stood out to you?

Hanson: This came from The Wall Street Journal. What they were pointing out was, was it nine of --

Hill: Eight.

Hanson: Eight of the top 20 --

Hill: Eight of the top 20!

Hanson: -- don't even have their jobs anymore! They included Steve Wynn, who obviously resigned in shame for that. Then, Hunter Harrison, who passed away after trying to steer CSX. After successfully turning around some other railroads, he was attracted to CSX by an activist investor. He had health problems and passed away. Still pocketed something on the order of $100 million or something along those lines.

It was just fascinating. You like to think, at any company, that you have a pay-for-performance culture, right? That the people who are making the money are the people who are helping grow value for the business. And obviously, CEOs make a lot of money. And the fact that the turnover is so high for doing a bad job -- these people mostly lost their jobs for cause. They were doing a terrible job! And they were making well into nine figures!

Hill: Yes.

Hanson: Crazy!

Hill: That's the thing that always has me scratching my head. Because you're right. All kidding aside about Evan Spiegel, in general, rather than CEOs being paid a tremendous amount of cash, we'd much rather see their interests align with the interests of individual shareholders like you and me. But, I don't think I will ever stop shaking my head at some of the pay packages that are put together for CEOs who don't perform, to the point that you made, and also some of the parachutes. Even people who are being fired for cause, it's like, "Oh, yeah, but we're also going to give you this enormous bag of money on your way out the door."

Hanson: Yeah, it's crazy. In sports, there are obviously some overpaid athletes, but they got overpaid because at some point, they were probably underpaid, or their talents were marketable. There's some connection there between the compensation and their relative ranking among their peer group. With CEOs, there's almost no correlation between skill and pay when it comes to C-level management. None. So, why any board of directors feels the need to overpay a CEO to keep them or to hire them when you could probably find someone of equal or greater ability for less money if you're just willing to work a little harder continues to baffle me. And you have all sorts of corporate executive headhunting firms that make a lot of money looking for these people. And yet, there's no science to it! I mean, I like to measure things and be very quantitative --

Hill: Data-driven.

Hanson: Yeah, and I believe in meritocracy, so on and so forth. And this is a thing that continues to annoy me about management teams, is how much money they think they're worth when it's demonstrably not true that they're worth that money.

Hill: You just reminded me, when you mentioned professional athletes, of the great line that Chris Rock had about the difference between being rich and being wealthy. It was, "Shaquille O'Neal is rich. The owner of the team who signs his paychecks, he's wealthy."

Allegiant grows fast in small cities, but will…

�

EVANSVILLE, Ind. �� Bob Whitmer was ecstatic�his hard work had paid off.�

It was 2011, and he had just shepherded through a runway extension and other improvements�at Owensboro��s airport in western Kentucky.�

Representatives of the low-cost carrier Allegiant were flying into town to tell Whitmer, the airport director, that Owensboro had landed flights to Las Vegas.�

��This is a dream come true for Owensboro!�� he gushed in a news release touting the service��s launch alongside existing flights to the Orlando area.

But six months later,�amid prohibitive�fuel costs, that dream ended when Allegiant announced it was pulling its Las Vegas route.�

As Evansville celebrates the arrival �� and rapid expansion �� of Allegiant service, words of caution abound that the routes may be short-lived. Perhaps no entity is more honest about that than Allegiant itself. The airline��s rallying cry to the communities it serves: Use it or lose it.�

��Allegiant��s pretty agile,�� said Kristen Schilling-Gonzales, the airline��s director of planning. ��We��re monitoring every flight. We��re looking at every route we operate on a monthly basis, quarterly basis, even more than that.��

Allegiant is unique in that even seemingly successful service sometimes finds itself on the chopping block.�

32 COOL AVIATION PICS: Disney- and Dodgers-themed jets, 747s and more�(story continues below)

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Westjet's 'Frozen' themed Disney jet departs Vancouver International Airport on Dec. 15, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen Cargo jets for UPS, top, and FedEx, bottom, trade places at Anchorage International Airport on Dec. 3, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen Outfitted for marine surveillance, a Canadian Government Dash-8 departs Vancouver International Airport in December 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A gaggle of partially completed Boeing KC-46 tankers awaits their fate while parked at Paine Field near Everett, Wash., in December 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Pacific Coastal Beech 1900D taxis in to a small domestic terminal at Vancouver International Airport on Dec. 15, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen An Augusta Westland 139 helicopter lands at Vancouver International Airport on Dec 15, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen Snow covers a Cessna seaplane on a very cold day at the Lake Hood Seaplane Base in Anchorage, Alaska, in December 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Lufthansa Boeing 747-400 departs Vancouver International Airport on Dec. 15, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Virgin Atlantic Boeing 787-9 takes off for London from San Francisco International Airport on Oct. 23, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A KD Air Piper Navajo Chieftan taxies to a gate after landing at Vancouver International Airport on Dec. 15, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen An Alaska/Horizon Bombardier Q400 painted in an Oregon Ducks livery taxis for departure as a Virgin America Airbus A319 takes off from Seattle-Tacoma International Airport on Dec. 24, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen An Air Canada Boeing 777-300 departs Vancouver International Airport on Dec. 15, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen Pilots aboard a UPS Boeing 747 don Santa hats as they ready for a flight across the Pacific on Dec. 3, 2016 in Anchorage, Alaska.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A China Eastern Airbus A330 takes off from Vancouver International Airport on Dec. 15, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen An Air China Boeing 747-400 lands at Anchorage International Airport on Dec. 3, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Saudi Arabian Boeing 777-300 delivers from Paine Field in Everett, Wash., on Dec. 24, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen The winter holiday travel season was one of the busiest ever in 2016-17. Here crowds pulse through Charlotte Douglas International Airport on Jan. 4, 2017.  Ben Mutzabaugh, USA TODAYFullscreen An unfinished Boeing 747-8 rests outside at Paine Field, near Everett, WA, in December of 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen The Caribbean Sea and Mexico's Yucatan coastline as seen from American Airlines Flight 886 from Cancun to Charlotte.  Ben Mutzabaugh, USA TODAYFullscreen Jets at one of San Francisco International Airport's international concourses in October 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Centurion Cargo Boeing 747-400 takes off from Anchorage International Airport in December 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen An Emirates Airbus A380 departs for Dubai from San Francisco International Airport on Oct. 23, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A United Airlines Boeing 777-300 takes off on a delivery flight from Paine Field, near Everett, Wash,, in late December, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Korean Air Boeing 777-300 lands at Seattle-Tacoma International Airport on Dec. 24, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Hawaiian Airbus A330 takes off from Seattle-Tacoma International Airport on Dec. 24, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A China Airlines Cargo Boeing 747 takes off from Anchorage International Airport in December 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A rare Everts Air Cargo Douglas DC-6 lands at Anchorage International Airport in December 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Cargolux Boeing 747-8F freighter jet lands at Anchorage International Airport on Dec. 4, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A Lynden Air Cargo Lockheed C-130 makes an aggressive landing approach to Anchorage International Airport in December 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen An EVA Air Cargo Boeing 747-400 freighter lands at Anchorage International Airport in December 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen Purples, pinks, and blues roll over the mountains of Alaska, seen from a Delta Air Lines flight on Dec. 4, 2016.  Jeremy Dwyer-Lindgren, special for USA TODAYFullscreen A USA TODAY newspaper sits on a first-class seat of an American Airlines A319 for a flight from Charlotte to Cancun, Mexico, on Dec. 30, 2016.  Ben Mutzabaugh, USA TODAYFullscreenLike this topic? 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That's because Allegiant's low-cost fares are dependent upon its ability to up-sell customers on everything from seat selection to hotel rooms. Jets full of frugal passengers who paid for their flights, but nothing else, end up costing the airline money.�

In regulatory filings, the company said it averages expenses of�about $100 per passenger per flight, or $200 round trip. As an airline that routinely offers round trip fares as low as $100 on flights, Allegiant needs to sell customers rental cars and tickets to events to make those routes profitable.

��If you took just our airfares alone, that doesn��t cover our costs. That��s honest,�� Schilling-Gonzales said. ��So we do offer ancillary products as a way to let customers customize their vacations.���

Et tu, Allegiant?�

Few airlines tweak their route maps as frequently as Allegiant. While legacy carriers, such as American, Delta and United, are more apt to play the long game when it comes to allowing new routes to perform, Allegiant opts for a different approach.

Take Owensboro. At one point, Allegiant flew four round-trip flights per week between Orlando and Owensboro, as well as the twice-weekly Las Vegas flight.

"We were very elated that we had non-stop flights to two of the most popular vacation destinations in the United States," Whitmer said. "It was a very attractive offering we had at our airport. We were extremely pleased."

Today, Allegiant only flies twice-weekly Orlando flights.�

While Allegiant still serves Owensboro, there are plenty of other airports �� including Casper, Wyo.; Akron-Canton, Ohio; and Youngstown-Warren, Ohio, �� where Allegiant has departed completely.�

When Allegiant left Casper, "they never issued a news release," Airport Director Glenn�Januska said. "They took the service out of the schedule, and I think the only way people would have known that the service was going to be discontinued was they went to book a flight and noticed, 'Hey, wait a minute. Casper isn't there anymore.'"

A similar situation happened at Akron-Canton, where Allegiant also abruptly pulled its flights.�

Marketing Director Lisa Dalpiaz�said Akron-Canton was "disappointed in Allegiant's decision."

At Youngstown-Warren, which lies between Cleveland and Pittsburgh, Allegiant �� in its trademark honesty �� "told us, straight up, we can make more money at the larger airports," Aviation Director�Dan Dickten said.�

IN PICTURES: 30 cool aviation photos�(story continues below)

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With iconic Mount Rainier forming a dramatic backdrop, a Virgin America Airbus A320 lands at Seattle-Tacoma International Airport in September of 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen The soft yellowish-gold glow of Washington, D.C.'s Reagan National Airport ceiling greets visitors arriving to the nation's capitol in May of 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen "Star Wars" characters R2-D2 and C-3P0 pose with All Nippon Airways' R2-D2-themed Boeing 787-9 at a ceremony in Everett, Wash., on Sept. 12, 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen C-3PO and R2-D2 pass by the engine of a Boeing 787 Dreamliner while welcoming a Star Wars-themed jet to ANA's fleet on Sept. 12, 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen A brand-new Cargolux Boeing 747-8 cargo jet takes off from Paine Field in Everett, Wash., on Sept. 13, 2015, for a test flight.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen A rare Boeing 727, operating a charter for a Major League Baseball team, takes off from Boeing Field in Seattle in September of 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen A Delta Air Lines Boeing 767-300 taxis to the gate on a rainy afternoon in December 2014.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen Heading out for a test flight, an Avianca Cargo Airbus A330 Freighter is towed to position via a tug at Airbus headquarters in Toulouse, France, in December 2014.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen With its distinctive architecture, Doha's Hamad International Airport is abuzz with activity despite the 3 a.m. local hour in December of 2014.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen An Emirates Airbus A380 superjumbo taxis to the gate after landing in Houston in December 2014.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen An American Airlines Boeing 737-800 departs Phoenix Sky Harbor in January of 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen Cessnas trade places on a taxiway at Paine Field in Everett, Wash., in February of 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen F-18 Growler fighter jets practice carrier landings at a remote landing strip on Whidbey Island in Washington State in March of 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen ANA's R2-D2-themed Boeing 787 Dreamliner after it emerged from a Boeing hangar in Everett, Wash., on Sept. 12, 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreen The unfinished nose of a 777-300, seen during a tour of Boeing'swidebody jet factory inEverett, Wash., onJune 1, 2015.  Jeremy Dwyer-Lindgren for USA TODAYFullscreenBlogThis!