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Pep Boys - Manny, Moe & Jack Message Board

  • faststeve21 faststeve21 Nov 9, 2005 8:59 PM Flag

    Still Not For Sale

    Nobody is currently negotiating for control of Pep Boys.
    Nobody is interested in buying Pep Boys.
    And the least intelligent thing I have heard so far is that a competitor like AutoZone might buyout Pep Boys; and the Sears Holding / Kmart comparison. First of all, the only reason Eddie Lampert could gain control of Kmart is because they filed bankruptcy and the shareholders lost everything.
    Pep Boys is not for sale and it is not possible for someone to takeover Pep Boys. Every year John Chevedden introduces a �shareholders rights� proposal that ask our worthless board of directors to dismantle Pep Boys �dead hand poison pill� and to get shareholder approval before enacting any future �poison pill�. Every year the shareholders overwhelmingly approve the �shareholders rights� proposal and every year the board thumbs its nose at us. When people say someone is going to buy Pep Boys they either didn�t do their research or they are lying to you deliberately!

    In 2003 the shareholders rights proposal that would eliminate Pep Boys poison pill was approved by 68%
    In 2004 the shareholders rights proposal that would eliminate Pep Boys poison pill was approved by 74.5%

    Nobody is coming to save you and you�re stuck with current entrenched management and their ever changing incoherent business plan.

    Pep Boys will release earnings on 11/10/2005

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    • CSI-consider that PB is trying to do more time intensive work than the qualifications of it's service employees can truly handle well...consider the CSI is being negatively affected by the communication being lost at the service desk due to overstaffing, 2 people know 50% each, 5 people know only 20% of what is going on...consider the increase in payroll due to this desk cloning...for a suggestion as a 15 year veteran with this company, to start the road to service LOB "repair", focus on the core services such as brakes, tires, alignments, shocks/struts by dropping the prices to be super competitive in the DMA, staff the tire installers as Discount Tire so a customer can have 2 installers tag team a set in 30 minutes for a fair price, reduce the service desk back to 3 FT and only 1 PT advisors/managers which will reduce payroll expense about $30-35k annually per unit..."if you build it they will come" is not the answer...rather, "if you repair it correct and timely and know what is going on with my car"...

    • Its funny. My bosses keep saying give it time and improve your customer service and everything will fall in place. What is the time limit to all this happening? The optimist say its coming and we have had 8 straight losing quarters. The real savior would be a complete turnaround in service revenue. Yet alls we did is throw 2 dead bodies at it. I want to believe everything will get better but nobody yet NOBODY has given any reason why except just be patient. So i am ready to listen to the facts. What in our present state is making for a successful recovery? The people who say we suck give numbers and facts. The ones who say its getting better give nothing. And by the way. I know our companies customer service numbers havent improved. And as soon as Larry realizes the nature of automotive repair and that it is the second most complained about industry behind home repair,the sooner he will rethink the whole CSI program to take that in consideration.

    • As someone who's worked for both PBY & AZO, I find the repeated suggestions that AZO is interested in buying PBY TOTALLY RIDICULOUS! PBY has NOTHING of interest for AZO. I agree that anyone who says otherwise is simply trying to affect the stock price.

    • how bad do you think this earnings release is going to be.

      • 1 Reply to ny_watcher
      • I see the concensus estimate is -.06. About a month ago it was -.05. If you remember, shortly before the ex-dividend date, there was extremely high volume where, I believe, PBY was busy buying back it's own stock. That is why I think earnings will still be negative (a loss), but will beat the estimates. Who knows, if it's -.01 thru -.03, there may even be a minor rally. I really don't expect the stock to move much right now, not until PBY can put together a solid quarter.

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