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Sara Lee Corp. Message Board

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  • drcas drcas Oct 31, 2002 4:51 PM Flag

    as a result...

    So educate us. Why are the MM manipulating the stock?

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    • 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!

      • 3 Replies to dbach11
      • I suppose you could have bought GE at 60 or Yahoo at 200 or LU at 60. Thank your lucky stars you didn't take the tech ride DOWN.

      • You're crying about the poor performance?

        Well what do you expect -- you voted for the Board of Directors.....you approved that Vernon Jordan to be on your payroll. You have to know he's stretched so thin (11 directorships) you just can't expect him to do much for SLE. You should know he is on the compensation committe who sets the CEO's salary. Don't like the high salary? --- get rid of Jordan!

        And look at that Willie Davis you keep voting in. What exactly does he bring to the board except a need to supply the printshop with a lot of ink for the proxy picture.

        As long as you keep voting in these deadwood characters, you just can't expect this stock to perform much better than meager.

      • You're crying about the poor performance?

        Well what do you expect -- you voted for the Board of Directors.....you approved that Vernon Jordan to be on your payroll. You have to know he's stretched so thin (11 directorships) you just can't expect him to do much for SLE. You should know he is on the compensation committe who sets the CEO's salary. Don't like the high salary? --- get rid of Jordan!

        And look at that Willie Davis you keep voting in. What exactly does he bring to the board except a need to supply the printshop with a lot of ink for the proxy picture.

        As long as you keep voting in these deadwood characters, you just can't expect this stock to perform much better than meager.