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Pep Boys - Manny, Moe & Jack Message Board

  • buylowandsellhigher buylowandsellhigher Jan 23, 2009 8:24 AM Flag

    Desperate times require desperate measures

    Management should consider the following to stop the bleeding: (1) 10% pay cut for entire white collar workforce (2) elimination of the csah dividend (3) one for twenty reverse stock split (4) keep stores open 24 hrs (5) start presenting at investment conferences (6)pay off debt as quickly as possible

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    • You obviously are intoxicated. Most store managers did not get a raise in 2008 on top of a very small one in 2007. If we are faced with a wage cut most of us will walk and that would not be good for a company trying to make a come back. I don't know of any store level people making six figures...maybe a service manager in a very high volume shop with a large bonus every quarter. That does not describe the main stream of management. Most of us are working like the devil trying to deliver what the company wants to keep us all going in the right direction. I can only say to those who think they know what we need and what goes on to go visit a store...........

      • 2 Replies to planogrampuppet
      • whats with all the space dedicated to ATVs in the Tampa store? Is the profit good on this or is it my imagination that these are discetionary items?

        Seems like this large use of space for ATVs is suspect. Do you know the sell thru on these items?

      • No question you guys/gals on the front lines aren't working hard....just not smart. I called PBY this morning at one location for a price on a water pump and nine seconds after first ring I got disconnected. The second call was answered finally in one minute and 58 seconds only to be picked up by a fax line. The third call was instantly disconnected after one ring. I spent my $42 this morning at O'Reilly when they answered on the second ring. This is ridiculous. You guys didn't even get your name in the hat. The company should be doing mystery shops to insure hat customer servic is tops. If te district manager was calling every day at least once, he/she should figure it out. This store today is typical. I bought tires from PBY because I saved over $100 but had to go to store 3 times in person since they wouldn't answer phones before. This is where two guys in service were slammed and 5 people were standing around and talking and doing nothing on the retail side. I have no reason to lie. I own a boat load of PBY stock and bonds. I just keep hoping they hire someone from O'Reilly to fix the retail/commercial and someone from Monro to fix the service. The current team doesn't have a clue. DaninFW

    • judandowell Jan 23, 2009 10:33 AM Flag

      Reverse split at 20 for 1 would be kiss of death. Can you imagine PBY stock at $60 a share and losing money......the shorts would hammer it below $10 in nothing flat. That would be the equivalent of 50 cents a share......I'll take $3 for now. Extending hours in select stores might work but late night with skeleton staff and in a cavernous store would be a shoplifter's dream come true.....been there done that. They need to make investment presentations only after they get things fixed. That's the problem. Current team and BOD's have zero credibility. DaninFW

    • Take out 4 & 5 and it will sound smart

    • Keeping a store open 24 hours involves higher costs, like salary and wages, that will NOT be offset by enough customers coming in between 10pm and 8am.

      Salary cuts hurt morale and hurt moral hurts performance. I bet you, too, would feel it if your salary was cut. Modest salary cuts for those making more than $100,000 would make more sense.

      Cutting the dividend would lower stock prices even more. Market cap is already hovering around $150 million - which is very low valuation for assets.