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Griffon Corporation Message Board

  • scole7 scole7 Mar 25, 1999 9:01 AM Flag

    ......Serious problems

    Other than the obvious plummet in the value of the stock, what in your opinion are the problems?

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    • good news!
      The hot stock pick of the week -
      TTRIF

      Analysts predict strong buy on TTRIF
      and target price
      for TTRIF is $0.35 to $0.50

      1) Expect revenue
      to increase($1.2 million) and
      business expanding
      (secured $200 million in
      long-term debt
      financing)
      http://biz.yahoo.com/prnews/990422/ism_thermo_1.html

      2) New Management team will start a stock
      repurchasing
      Program soon and will aggressively pursue new
      plants.
      http://biz.yahoo.com/prnews/990422/thermo_tec_1.html

      This stock is going to be very hot and is about to
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      Big News is coming out soon!!!

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      http://quote.yahoo.com/q?s=ttrif&d=1d
      http://www.ttrif.com/

    • Atlas Roll-Lite garage-door plant will shut
      down
      Susan G. Strother
      of The Sentinel
      Staff
      Published in The Orlando Sentinel on April 29,
      1999.

      Atlas Roll-Lite's garage-door plant in south Orlando
      will close by early summer, putting 120 people out of
      work.

      The move follows the sale earlier this year of a
      portion of the business that made doors for mini-storage
      units.

      Clopay Corp., which owns Atlas, decided it didn't make
      economic sense to operate the remaining "half a plant" in
      Orlando, said Bob Caulk, president of Clopay's building
      products company in Cincinnati.

      The employees will
      receive severance based on length of service, said Ed
      Volk, Clopay's vice president of human resources. Some
      have been at the plant for 20
      years.

      Manufacturing workers earn $7 to $14 an hour, Volk said, though
      some salaried workers earn as much as $50,000 a year.
      No more than 10 employees will be offered jobs at
      other plants.

      The operation is expected to
      remain open until at least June 1. Clopay plants in
      Ohio, Wisconsin and Arizona will handle the remaining
      business.

      Clopay bought the plant in 1995 from MascoTech Inc.
      Since then, Caulk said, sales of residential garage
      doors have done well, but the mini-storage side of the
      business has suffered.

      Clopay found it difficult to
      compete in a market crowded with competitors. It sold the
      mini-storage business in March to a joint venture of U.S. Door
      in Ocoee and Consolidated Services of Columbia,
      S.C.

      About 80 employees joined U.S. Door, Caulk said. Before
      the sale, the plant had annual revenue of about $60
      million.

      Clopay rents its warehouses in south Orlando and is
      looking for a tenant to assume its lease.

      The
      company still will employ 65 in the Orlando area in its
      distribution and installation offices. Clopay

    • Earnings (OR Lack of them) just announced. Let's see if this plus restructuring charge is what everyone has been anticipating with the horrible price action of late.

      More to folow

    • I posted a message a short time ago and said that
      it was time for the board of director's to do their
      duty and get rid of management.

      Guess what?
      Yahoo stripped my message off the board!!! It looks
      like GFF management does not like to be
      challenged.

      With their inflated compensation and the company's
      poisen pill, these guys don't have to worry about
      increasing the company's value. They are along for the ride
      and everybody else is out of luck.

      By the way,
      did you see where the company's employee pension plan
      was a large holder in company stock a year ago, but
      not any longer. It looks like the trustees of the
      plan found value elsewhere.

    • The problems of Clopay Building Products are
      many-there is a total lack of leadership and vision. The
      executive management lacks backbone and decisiveness.


      Advice to top management comes from a core group of
      individuals that are insubstantial and non-credible in terms
      of their background and
      capability.

      Management has been suckered time and time again by
      "street-wise" sharks who show substantially better business
      acumen than the boys in the boardroom who have Ivy
      League degrees.

      Significant and non-value added
      time is spent within this company pointing fingers and
      making personal (and often times

      unsubstantiated)attacks,allegations and innuendo. Meanwhile, Rome continues to
      burn.........

 
GFF
13.87+0.01(+0.07%)Jan 27 4:02 PMEST

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