. You cant build a crane with a degree, or a painted line on the floor.. Alot of people came thru the shop over the years. Even one was a professor. But it didnt do him any good in the manufacturing of what we did. You can have all the education you want but if you dont apply it and work the field you were schooled its wasted time. There are a lot of smart people that dont have degrees that have made a lot of companies a lot of money by going over and above what their "JOB" is. A lot of things wouldnt have gotten out of the shop if it wasnt for these dedicated people.Sure you have people that take advantage of things in both union and non-union shops and that is cause the people who are suppose to deal with it stick their head in the sand and let somebody else deal with it. You say the good will rise to the top but there are a lot of people that take credit for other peoples actions in manufacturing.And the little guy doesnt get credit for it. Its not a one man show and everybody has to work as a team to achieve this.You cant have people sitting on meetings ,a few of these people go so they dont have to do the work they were hired for and can complain about the the people that do their job. If people dont see this it will be the end You cant BULLY people and make them go backwards and be happy productive because of a few whiners. These people that are whining should do their job and not worry about other people and if they dont like it move on. They built cranes before they came here and they are doing this for their personal gains. Its too bad that people are so blind and only see what they want to see.
be careful about that. This is one messed up management team that is struggling to get consensus on whether or not the overall strategy is correct. Relational Investors is accumulating an interest for a good reason. They know that the company strategy is wrong (along with everyone else) and the shareholders are suffering accordingly. I expect the stock price has already peaked and will eventually level off in the high teens, provided of course, the economy doesn't #$%$ out. The competition is killing the foodservice group and will continue for quite some time. Years of underinvesting, cost cutting and management realignment will take a toll. Worse is yet to come.
While I admit that my VP manager does not always make the most prudent decisions and often the numbers are overblown. The fundamentals are great right now and with the recent drop! I am dumping over 50% 401K into our stock on Monday.
Sentiment: Strong Buy
They purchased Enodis to level the up and downs of the crane segment, the problem is, instead of continuing to allow the Legacy Enodis companies to continue doing what they have been doing for decades (and were rather good at it) they started screwing with it by merging facilities and this year a complete restructuring of the foodservice business. (stupid, stupid, stupid)
They have sucked the life out of the Enodis brands, the talent is leaving in bus loads like rats off a sinking ship, the customer and dealer network are #$%$ off. ICE and BEV seem to be the golden boys, but they no nothing of the hotside business, and management is not listening to the hot side professionals (the ones that are left)
It is painful to watch the destruction..
Too bad they couldn't leave well enough alone.
i'm guessing this quarter will serve as validation that this management team can't run either business and therefor may be unable to run any business. TLMF. I look forward to the filing monday morning that says relational increases stake to 12% seeks active meeting with management before they can destroy more shareholder value.
Split it up. Let's see the board do something to actually help the stockholders, not just themselves and the execs. Us longtime holders are ready for current good news rather than promises that are years (decades) down the road. The stock will open tomorrow at just 56% of what it was on Christmas Eve of 2007. The rest of the market has long since recovered, but not MTW. Let's hope the guys from the west coast continue to put the heat on this tired, stodgy board of ours!
I have been investing in MTW for along time. MTW either beats by a lot or misses by a lot. Guidance is all over the place too. I just close my eyes and pray everytime they report. The trend over the last 5 years has been up, so hope it continues. If they miss or guide down, the pressure will increase on splitting up the company. I am getting Jack Daniels ready to either celebrate or drown my sorrows.
This Friday will be the last day for many older employes at ice div here in Manitowoc as they get ready to move to mexico.I have many good memories working there.Sad day.
Terex, Cat lowering makes us nervous, but prediction last quarter was that year long projections would be met. We'll see if they can deliver. I'm wondering if they will shed light on the proposed break-up. My instincts say we miss again based on the other two, but here's hoping I'm wrong big time! Good luck longs and hope you are all doing okay.