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Herman Miller Inc. Message Board

  • hfc687 hfc687 Mar 24, 2004 1:04 PM Flag

    Recommended Reading!

    As a former "co-owner" of this company I tried to stay abreast of all the developments within the company that might be pertinent.

    Herman filed a couple of "changes of beneficial ownership" forms today that might be of interest to you as a shareholder.

    Funny how the big guys manage to stay ahead of the curve on this sort of thing!

    No position on this stock...thank God!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Am I mistaken or does it appear that MLHR
      bought the shares that the Chairman exercised
      and they never hit the market?

    • You wrote:
      "Sorry to hear about your health problems. Maybe getting back on the bike (in the warm weather) will help you will it away."

      I'm intrigued...who might this be?

      Former or present?

      Riding my bike is indeed excellent therapy. I'm due.

      If it's present then I assume you are working in Michigan.

      How about a clue? I can always use a clue!

      Oh well, some mysteries are best unsolved I suppose.

      I was fortunate enough to get $28/share from my profit sharing account.

      Interesting points regarding minority participation, hadn't occured to me.


      No position in this stock.

    • Sorry to hear about your health problems. Maybe getting back on the bike (in the warm weather) will help you will it away.

      Hopefully all the Cantonites were able to sell their profit sharing when the price was in the upper 20's; we won't be seeing that again soon.

      Plus if Ariel ever figures out that Herman eliminated a large portion of their minority work force when they closed Canton, I would think that their African-American shareholders would force them to divest their holdings, accelerating the drop.

      Its unfortunate because it wasn't the intent of the closing, just collateral damage; but people tend to act first and worry about the consequences later.

    • :-) LOL...I needed that!

      All the best!


    • Former co-owner? Please elaborate.

      • 1 Reply to ivybanks1
      • Ivybanks1 wrote:
        "Former co-owner? Please elaborate."

        During my 14 year employment with Herman Miller, prior to our plant being closed, we were encouraged to think of ourselves as "co-owners".

        Sorry, just a holdover from the corporate double-talk.

        During our performance reviews much attention was paid to our "responsibility as co-owners" of the company. It was generally understood that the yearly wage packages were drawn up long before these lengthy and meaningless "performance evaluations" were given. It was always a hoot to get a 2% raise irregardless of "performance" while the CEO and all the directors got free shares like they were lollipops at the drive in window of a bank.

        Obviously it meant nothing.

        I'm sure my point in posting the link to the "changes in beneficial ownership" was not lost on you though, was it?


        No position in this stock. it's too expensive to even consider taking a short position...although it would be tempting on general principle.

        Principle, I'm sure some of you have heard of that concept, right?

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