less to pay for petro based platforms thus lowering cost of goods. Lower cost of goods means better bottom line. Lower oil prices work in favor of this company. Should add another $3-5 a share as long as it continues to fall
You are short and getting burned. Too bad. Cover now shorty. 40 is coming by year end
Rather than spend $58 million to move to Charlotte, Pretty Bear should just split the company into three pieces, save the $58 million and give the $58 million to shareholders and ride into the sunset. Everyone may be better off, shareholders and employees.
Good numbers for earnings, but not hard when he is just raising prices and cutting costs and expenses except for his compensation. Good for shareholders, but bad for employees who worry what will there be in two years.
What do you expect. Just read the CEO's contract and proxy. He makes his money from stock price and EBITDA percent. And he does that by raising prices, shrinking sales to anyone who won't pay his prices and cutting headcount and costs including R&D. And then he cashed in and leaves a hollow shell. The employees see this and are afraid of what happens after Pretty Bear leaves. Resumes are out all over from employees looking to get out before it's too late
Is the move to Charlotte just a way to get Pretty-Bear away from new jersey taxes and get the company to take his new jersey mansion off his hands???? He is going to Miami with his millions and his $5 million new house.
We started looking at SEE as a turnaround story. We liked the corpporate headquarter move to Charlotte, NC, it was named by Fortune as one of America's most admired companies, they are in space we like with all the e commerce and more and more people buying products that have to be shipped through the mail and Sealed Air products fit well in that space and they have some unique products that customers seem to like. But when we did some DD and started hearing that customers were more displeased with all the price increases and that they feel they are not really justified that caused us pause. We like it when we hear from customer's that they love the company and the products. That is just not what we heard. So we took a pass here. Customer's love Apple, Amazon, Costco, and FB. those companies care about the customer and the customer experience. We like companies that care more about the customer than thier own stock price. If you care about the customer stock price will follow. So in the end this is a zero some game you can not price increase your way to growth. SEE will probably have good earnings this quarter and for a few more quarters and the stock will probably drift higher. We will probably miss that move. Maybe we are missing an even bigger move if the management is dressing this outfit up for a buyout. But we do not buy companies based on buy out assumptions we buy them for real growth.
Sounds like you missed the nice run in this stock and are tryiing to poke holes in the turnaround to me?
Yes you are correct however we think North America is by far the largest market for their products btw we are not short sellers. We are private investor's managing a family trust. What perplexes us is how can other large share holders not do their due diligence and channel check Sealed Air customers? We did. I left out the part about the distribution side of SEE business where they sell a lot of products through distributors...it used to be two large ones Xpedx and Unisource now those two companies merged. So we called some of their sales people to ask them how they feel Sealed Air is doing. They like the SEE products but dislike working with SEE because of certain policies they are implementing which makes it difficult for them to sell the products they are not all that willing to go out push their products because it is to difficult to sell them with unfriendly market pricing policies. Bottom line the feedback was not very positive. So how can this company be doing so great when the people that resale their products are not very happy to go out and sell them? So that makes us question what is really going on here? We are not running out to buy this stock or buying what the managment is selling. It looks like a price increase shell game to prop the stock up here and therefore not a long term sustainable business model. There are many other company's out there we can buy where customers love the company...Like FTNT, APPL, SSYS, FARO and on and on...so we will look else where for now.
Isn't he fabulous? Good thing he stiffed so many employees out of their bonuses. Otherwise, how would he have afforded that $12,000 bathtub. Marie Antoinette would be proud of her fellow countryman.
Sentiment: Strong Sell
Did you see the New York Times spread on Pretty Bear's $5 million Miami house?? Do you think this guy is really going to move to Charlotte?? No way!
Let's see the bonuses for these results. Last year the CEO got 100% bonus for 4 months work while the rest of us got 60%.