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ClearBridge Energy MLP Fund Inc Message Board

  • witcosocrates witcosocrates Sep 26, 2007 11:37 AM Flag

    Albemarle

    Someone please explain to me how and why ALB's stock price has soared these past 4 years or so, while GLC/CEM's fell apart.

    Don't these two companies compete with about an 75% overlap.

    Is ALB eating our lunch this much?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Exactly what has Albemarle been doing in China???

      COuld CEM have done the same/similar???

      WHo was running Asian division during this time? WHo runs it now? Is it too late for CEM in China???

      WHere has the board been during all of this??

      • 1 Reply to witcosocrates
      • At the time of the merger Crompton had no senior executive running Asia, just a bunch of lower level local sales managers for each business unit. As far as I know GLC had a regional director in Singapore, one of only about 3-4 executives in either company with any knowledge or experience of Asia and Wood got rid of all of them. Smart move! No idea how they run it today.

    • Simple, ALB has very little turnover in management. They know how to run a chemical company. Look at bob and his crew. Every quarter when he misses the target, he fires his crew. Maybe the problem is bob. It appears bob's goal is to maximize his payoff (14 million) when he sells the company or is canned because he cannot. Who wants to bet that this quarters numbers suck again?

    • Albemarle is a relatively stable company compared to Chemtura.

      Just look at CEM and three major reoganizations since Woody took over. While he got rid of a lot of dead wood (no pun intended) he also got rid of several good people who had experience in running successful organizations. One of the factors that these people are now gone is that they were not "yes" men to Wood. They disagreed with him and they are now gone. The people who are now left are typically yes people, do not have long term experience at running companies, aren't very competant and are complete suckups to Wood. Oh, and a couple of them can't be trusted because they have their own agendas. when people in their areas in the industry are asked about them, the response is that they are liars and can't be trusted.

      As a stockholder, I think that the board should have fired themselves a long time ago as they are completely incompetant for letting Wood get away with this crap for all this time. They are certainly not performing in the stockholders best interest by keeping Wood.

      I hear there is another $40 million in cuts coming because things are so bad. Who is going to be left working in the store after this one?

      My son used to work for Chemtura and left for a better job, told me that things are so bad partly because the people running the divisions are incapable of making decisions because they don't know the businesses and hence decisions don't get made. Business is being lost left and right and you have a buiness model that does not work for this company. Let's hear it for a brilliant reorganization and the idiot behind it. Definately a FUBAR!!

      • 2 Replies to helperfid
      • Helperfid,

        Your post is one of the most realistic and precise CEM picture I ever saw in this board mainly when you say that:

        " Just look at CEM and three major reoganizations since Woody took over. While he got rid of a lot of dead wood (no pun intended) he also got rid of several good people who had experience in running successful organizations. One of the factors that these people are now gone is that they were not "yes" men to Wood. They disagreed with him and they are now gone. The people who are now left are typically yes people, do not have long term experience at running companies, aren't very competant and are complete suckups to Wood. Oh, and a couple of them can't be trusted because they have their own agendas. when people in their areas in the industry are asked about them, the response is that they are liars and can't be trusted."

        The above clearly exposes the real reason for the absolute CEM failure, its board included. To make it worse, all the reorganizations costed a fortune to CEM ( imoral Consulting fees)and and current results are a clear demonstration that CEM is not DOW and Wood's Mafia still did not realize it!!!

        Congratulations!!!

      • Value Destruction.

        The only reason Wood is still here is because of the outpackage cost.

    • Yes and Yes

      Growth in China, acquisitions (actually making them not talking about them) and keeping their eye on the ball not reorganizing every 20 minutes

      • 2 Replies to lazeriff
      • Having a clear and realistic corporate vision. A stable management structure. Avoiding perpetual reorganizations and the corporate revolving door. Long term commitment to Asia Pacific, particularly China, with investments in manufacturing, commercial infrastructure and personnel.

        Albermarle kept faith with their middle and upper middle management expertise who understood the markets, their customer needs, and had long term relationships with clients. Net result is a perception in the market place of a competent, stable, efficient and long term partner to the industries they serve.

        In other words the complete opposite of everything CEM have managed to achieve in recent times, and this is reflected in the the stock performance of the two companies.

      • Are you insinuating that Bob isn't worth the $5 million the shareholders and "restructured" (ex)employees contributed to his lifestyle?

 
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