Bid/ask is moved to 22.81/22.87,a $.06 spread because of the artificial 22.83 trade earlier. Now the stock will backfill the 22.82/22.86 spread created. Just think the price movement is not market driven but is being manipulated. Why else would you not make the market at current bid.ask levels.
Dear Management: (I use the term with tongue in cheek)While your 2 cents dividend increase was not unexpected it certainly was a major disapointment. We shareholders have suffered through 5 years of mismanagement and have nothing to show for it. We have suffered thru "unusual" items after "unusual" items. We have waited for the year of diverticalzation to work. We have suffered thru the year of listeria...twice. We have moaned and groaned thru the year of disposition. We have waited thru the year of acquisitions and what do we have to show for all this mess...NOTHING! By your own calculations my return on sle over the past 5 years is less than the return on my cd's. That, management, is piss poor! And now the great B of D grant the ceo an 85% increase in bonus and a 10% raise and we get a measley 3% increase...same as last year. Dividends are a statement by management of potential growth. Apparently there is very little.
I have three question I would like answered. (1) How can the B of D justify the bonus and salary increase based on last year's performance? Are goals set so low that poor performance is rewarded? (2) The ceo has stated on a number of occasions that we traded PYA for Earthgrains. If that is true, how did the balance sheet become so leveraged? All I hear is that the problem with the balance sheet has to do with the Earthgrains acquisition. (3) The ceo states that sle can grow profits 8-10% on revenue growth of 2-4%. I say that is a mathematical impossibility over the long haul. Not unless your cost of goods goes to zero and operating expenses cease to exist. (Which ain't goin' to happen)
We have no revenue growth and until that happens the stock will languish right where it is or lower. 2% growth will not get it done.
You may ask why I continue to hold sle if I am this disatisfied. Because I believe that even a blind hog finds an acorn every once in awhile. Maybe sle's management will one day find its acorn!