It sounds as if you have information?
One thing that comes to mind is Donna Fenn. Donna is the one that wrote The article 'Sweet Smell of Excess'.
If you haven't read it, I would recommend it. Same players different industry, same unhappy results.
Donna still writes for financial publications, and it is my understanding that Donna might be watching this unfold, waiting for enough information to become available for a follow-up?
I hope to have the chance to stand before a judge to testify how this cozy management team and board has runaway with cash and destroyed shareholder wealth to the tune of $475 million. The value of this company is only 2% of what it was, in effect 25 cents a share. Meanwhile, the fat-cat board and management have indulged themselves with shareholder funds while imperiling the livelihoods of employees, disappointing customers and lying to shareholders. It was these same actions that sent Jeff Skilling to prison for 27 years. My anger grows by the day. I look forward to resolution one way or another.
Why does this tiny company with only 1,375 employees need a President and CEO, COO, CFO, CAO and Sr. VP and Gen. Counsel? Why does this tiny company need an Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee? What kind of ivory tower fantasy were these guys in? No wonder they have incurred losses of $8.12/share over the past 12 months.
At least Jeb Bush is off the board now - to his great relief, I assume. Assuming, that is, that it ever crosses his mind...
Director compensation for Richard L. Handley, chairman, Fort Lauderdale; Harris W. Hudson, formerly of East Bay Sanitation Service; William (Bill) D. Pruitt, of Pruitt Enterprises; David M. Prussky co-founder of Patica Securities Ltd.; and Joseph J. Burke CPA is as follows:
● an annual fee of $60,000, paid quarterly on a calendar year basis;
● an annual committee chairman fee of $10,000, paid quarterly on a calendar year basis to the Chairman of each of our Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee;
● a per Board meeting fee of $1,500, paid quarterly in arrears on a calendar year basis;
● a per committee meeting fee of $1,500, paid quarterly in arrears on a calendar year basis;
● an annual grant of $35,000 in restricted stock units, paid on the first day of the month following our annual meeting of stockholders; and
● a one-time grant of $25,000 in restricted stock units, paid to each non-employee director upon their election or appointment to the Board. Are they worth it??? I'll let the stock price performance speak for that.
The crisis almost seems intentional. The same day the Swisher discontinues contributing to the employees 401K, is the same day the CEO gets a $150.000 raise. Nothing about either of those decisions speaks to a company that values its employees, it's shareholders or it's future.
This company will continue to slide back below $1/share, everyday testing new lows and causing crisis of confidence among employees, which causes crisis in confidence in customers, which causes crisis in confidence of shareholders, which emboldens competitors and leads to management defeat. You could have a 1000/1 reverse split, and it would not protect from this death spiral. Mgt had promised to keep investors informed regularly on their progress. They failed and now they hide. It is up to board of directors to take action on behalf of the shareholders to sell the profitable divisions to an effectively run organization and windup operations. Surely, Harry Wayne Huizenga, if he were of right mind, would see this.
No just this one. The other boards, I just read what the insiders have to say. The attitude and moral of a companies customer facing employees will tell you more than a cheery, colorful story told by a CEO.
Finally, an accurate description of this LOSER company. But, at least, dogshit can be used as
some kind of fertilizer. This LOSER can even be used for that....
Yeah, the bag holders will probably pay a subscription fee to get this BOGUS advice from this LOSER company. Notice how LOSER companies attract other LOSER???? It never fails!
I'm shocked I haven't heard that WARREN BUFFETT is interested. His name always comes up with these LOSER companies. It's the BAGHOLDER'S last HOPE! They'll grab on to anything! Shame!
He's giving a KICK BACK to the BOARD. Everyone's giddy. This way they ALL get raises before the
Ah, I think it should be a 1/20. There would still be too many shares outstanding. Approx. 880 thousand.
That would make for interesting trading and huge spreads that would really please the market maker.
There are so many DUMB people buying this LOSER that they would pay the ridiculous spread.
By the way, do you think these are the same people who were described as STUPID by KING OBAMA'S
ObamaCare architect???? Are these the same NUTS who voted for KING OBAMA?
This is a pathetic company. I have been 'BASHING' this LOSER since it's bogus merger.
That goes back to the day it was listed. If you had listened to us BASHERS you would have
SAVED yourself a boat load of money. Isn't that an ACCURATE statement???? Be honest now!!!!
Sentiment: Strong Sell
One can listen to the latest conference call and tell this management team is spent. They are just walking zombies collecting paychecks. "Sales through Service?" What kind of half-baked plan is that? This board needs to move quickly to rest control from management and dissolve this company. Otherwise, what little value is left will end up in the hands of Sienna Lending Group.
Shorts don't need bashers. Incompetent and corrupt management have been more than sufficient to destroy shareholder wealth and imperil employees' livelihoods.