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Pep Boys - Manny, Moe & Jack Message Board

  • bernstein301 bernstein301 Apr 15, 2007 12:40 AM Flag

    CEO on a Saturday!!!!!!

    Mr. Rachor visited our store on Saturday. He arrived through the back door, ALONE - NO ENTOURAGE , and just started talking to everyone he saw. Master techs,mechanics and installers - he talked to them ALL. Then he made his way up to the service desk and met with the service advisors BEFORE meeting with the managers. He talked with customers at the service desk and with some in the waiting room. He then made his way through the store and spoke with all of the retail associates as well. Everyone he came in contact with was an opportunity to interact with and gather feedback. He seems like a genuinely nice person who I think is off to a great start with this company. It felt pretty good to have a CEO introduce himself and ask what HE could do for you.

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    • has he been back in a store on a weekend day since?

    • Hi Sound!

      I agree with you 100%. Years ago I worked for IBD for a over 2 years and quit to start a business that failed. Wm. O'neil coined the system of CANSLIM. I've read most of his books. During the time there I learned volume was a major factor to watch. Yes CANSLIM doesn't fit PBY but then few fit exactly. That motion you talk about many like to call momentum and where I like to look. Volume can tell me where the whales are feeding. I look for small cap companies with small floats and little dilution (hopefully buying back their shares). I don't buy just because it seems cheap. There has to be other criteria and some of the parts of CANSLIM have to be in place. There use to be a saying at IBD which Jim C now espouses buy high and sell higher.

      Patrick

    • sorry for the lousy typing ability----don't invest in my typing school

    • Patrick,
      I am watching the action today....should have kept my short in place...but I agree with you in that the market is different, long and hold seems to be the hard way...JM

    • People should realize that it is possible to make alot of money trading the stock od a company that is losing money. It is also possible to lose money trading the stock of a company that makes money-----even one with a good eps can be bad if yo buy & sell at the wrong times. Good investers will make profits even in unprofitable companies. For example Kimberly clark is not a very volitle stock but at one point I did well with it in a short period of time buying low and selling high.One might invest in it merely because they make Kotex and your wife seems to always have her period but if your timing is good you will make money.

    • I dont work for Pep Boys but am a big customer, for many years and almost the next day as I came to the US. Its a good company and its chances where taken away by the previous bosses. Store employees deserve a good treatment, but they should know their other heros: Barrington Capital and Pirate Capital. I made a good cunk of trading profits form PBY over last 24 months. Mainly thanks to the Barrington Capital and Pirate Capital and Defoe Capital. Th guys within Defoe Capital where the firts to formulate that the real estate of PBY is worth at least $1.4 billion and that is all how it got started.

    • he should come in the store when the main people that run everything are ther, mon to fri, it dont make sense talking to a kid that works weekends for gas and beer money, and if you talk to the manager he is just talking like a dm becuse thay are the ones pulling there string cuz we all no thay a bunch of puppets, so come in on a weekday would you jeff

      • 2 Replies to dwhinpa
      • You need to give Rachor a chance. He is a first class guy who knows how to run a business. He will take PBY to the next level. I think your point about him not coming Mon.-Fri. is a good one. Knowing Jeff, he stopped by on the weekend on purpose. The weekend should be the biggest days for sales and you confirmed what he probably thought, that most of the decision makers and top managers don't work weekends. I think that is getting ready to change. It is the retail business! With your ignorance and arrogance I would start looking for a new 9-5, M-F job!!! I am sure your great attitude has infected everyone around you.

      • Maybe pepboys needs to get rid of those kids working for beer money on the weekend and get some qualified parts counter people there . After all Saturday is one of the busiest days of the week why wouldn't you want to have your best people in that day . Maybe thats one of the problems that needs to be addressed .

    • Hi Farryman!

      For the last month we've been up 17 out of 21 days with no consolidation. Volume has been more than normal for the same 17 out of 21 days. I keep expecting PBY to drop a $1.00 or so but I've been pleasantly surprised. I've bought PBY in the 8's 9's and 10's 11's and sold at a profit then watched it climb into the 20's. Of course that was some time ago. That has been some time ago (2003 period). I bought again last year in 10's and 11's and sold. I'm guessing but I think I sold my entire holdings in PBY sometime late last year. After watching PBY I again took a large pos in the low 16's and again in the 18's. I keep waiting for it to correct to buy a little more but it hasn't happened. I'm with you, if the next quarter turns out as we expect then 22-25 like you say is very possible!

      Patrick

    • This guy has to be 1000% better than the last guy who tried to fix things by bringing in kayaks. At least he knows when to show up to stores the busiest day of the week. Good luck to all you VP's the only thing constant will be change.

    • Thats what a good CEO should do & not just sit there & take advice from his new underlings. Any big boss who announces his visit prior to coming is a fool & not really interested in seeing the problems.

      What was his reaction? Did he like what he saw or see things that need to change?

      Were you guys open with what you thought needed fixing / changing? It seems that everyone is complaining about benefits & money , which is legit but until we get more money coming in to the store, those things cant change.

      I am a SSC guy & have not met him personally but others that have said he seems concerned & interested in fixing this place.

      He's got a big job & I wish him luck.

      • 2 Replies to itsgottagetbetter
      • Everybody was pretty open and forthright in there suggestions to him. He came in the back door by bay 10 and worked his way up the shop talking to EVERYONE, master techs to installers then spoke with all the service advisors BEFORE the manager and his assistant. He talked to a lot of customers as well at the service desk and in the waiting room. He passed out his business card to everyone he talked to and even told us to email him with any more suggestions we had. I took him up on his offer and by 9am the next day which was SUNDAY... he replied back to me on his Blackberry!!!! I don't think he could be off to a better start than this. The mood after he left was the most positive I've seen in my 7 yrs with PBY.

      • The visit (and the way he did it)does not surprize me at all. I believe he is a true customer oriented guy who knows the automotive business (funny thing, a person who knows the automotive business running an automotive business). I hope he can cut through baloney and get down to the real issues that are holding us back. We need people in the stores (enough of them) that want to wait on customers AND take care of the problems. We also need to incentive productive people at all levels of our business and give them a chance to make a TON of money. You can only keep and attract the best people by giving them a chance to grow and prosper ($$$$$). I hope we bring back stock options and give everyone (not just a few) a chance to prosper as we give this company new life. We need to get ALL employees involved to grow this company again and remember Jeff can't do this alone. If he comes to your store SPEAK UP,tell him the truth and offer ideas to fix this puppy.
        WE CAN FIX THIS AND GROW AGAIN.

 
PBY
9.80-0.02(-0.20%)Nov 26 4:04 PMEST

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