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Bob Evans Farms, Inc. Message Board

  • RPM23 RPM23 Aug 4, 1998 9:07 AM Flag

    BOBE and NASCAR

    Did anyone else catch the Bob Evans in car camera at the Brickyard 400 race?

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    • Folks, these options that the board has have a
      stike price, or if you will a price that the board
      members have to PAY to take ownership of the shares of
      stock. In many cases, they cannot afford to keep all of
      it.

      My problem comes in when they don't keep any of it
      or do not in my opinion have "appropriate ownership"
      in the company. I sure that opinions are going to be
      like noses on "appropriate ownership" in that everyone
      will have a slightly different opinion.

    • This is the technicians test.

    • I am with you all the way Iwantreturn. How true.
      Did you ever figure out how much money Dan Evans is
      taking out of this compcny.We are paying Dan Evans
      $1,000,000.00 plus compensation, that we know of. That is 2% of
      the total profit of this small cap copany. COME ON
      INSTITUTIONAL INVESTORS YOU CARRY 40% OF THE VOTES WE NEED YOUR
      HELP. So the management tell you Dan has not been his
      self lately. I knew something was wrong with him.

    • I am with you all the way Iwantreturn. I know
      what you mean about the insiders selling their stock,
      and they always sell at the top. You don't think they
      might have a little inside information do you? I know
      they get their stock on options, but if they have any
      confidence in the company why sell. I remember Beatrice
      Foods well, and Dan Evans wanted out real fast. Dan why
      don't you sell the company now,that you don't have Bob
      Evans around to blame it on. Iwantreturn, you made a
      statement, that management around Dan Evans said , Dan has
      not been him self lately. How can a person run a
      successful company, and run around getting people out of
      jail, and building hospitals? I would like to be at the
      meeting but I live too far away to attend, most of the
      stockholders who are there are small holders, and just want to
      go eat something free. THE INSTITUTIONAL INVESTORS
      CARRY 40% OF THE VOTES ANYWAY. We need them to get the
      job done, that has to be done, to get this company
      going again. After the SEC gets done wtih them, I think
      that will open their eyes. The IRS people are in there
      also, I heard.

    • Does anyone remember when BOBE was to be sold to
      Beatrice Foods? And where is Beatrice today? It was Dan
      Evans who was pushing the sale and if it wasn't for Bob
      Evans himself refusing to sign on the dotted line we
      all know where we would be today. Are we going to let
      this continue till we are given as a sacrafice to
      possibly another Beatrice? Listen to what people are
      saying on this message board. I have been around and in
      this company by marriage for nearly 30+ years, there
      are problems. Even when talking to the management
      they will tell you Dan has not been himself lately.
      Read, listen to, and think about what is going on. We
      need to pull together this time and let them know we
      will not put up with mediocrity.

      The stock
      options the company offer are very nice for management,
      but very few of them actually buy and hold their
      shares. Most of them wait until they are about to expire
      and turn them for profit. This may be standard for
      most in business, but I have a hard time with those
      who are in the company not holding on to and taking
      pride in ownership of BOBE. Any other opinions on this
      issue?

      How many of you who leave messages on this board will
      be at the meeting in September? Stand behind your
      vote and attend.

    • Chuck:

      I am responding to your post, I
      feel that by responding to Brain and chicken cutlet is
      counter productive, it seems that they think that sarcasm
      and a questionable wit is the answer to BOBE
      problems.

      In your post you make valid points,
      1)What exactly are the alternatives? 2)If we vote not to
      retain the current board, what will happen? 3) The sale
      of the company will not increase share value. On
      both these points we seem to agree.

      However,
      the main disagreement we have is what can prompt the
      board to increase the value per share. The basic
      problem is that most people think that they are isolated
      in their ownership of stock, but in reality the
      shareholder is part of a larger "living" body, if one system
      of that body is not happy with it enviorment that a
      system failure can occur.

      My basic contension,
      as illustrated above, is that if investors, large
      and small, voice disapprovement, in unison, then that
      should cause the board to act. If there isn't any action
      taken, it is the begining of a class action law
      suit.

      BTW does any one know how to nominate a person for
      election to the board?

      Tony...

    • My point was not about Nixon, who cares! What
      about somebody that really deserved the nomination back
      then and did not get it.
      You are being blinded.
      Let me explain my position again.

      We get to
      vote for the board of directors, we are given three
      choices in this case, all incumbants if you will. There
      are no other choices, there is not even a spot for a
      write in. Does anyone out there know if a board member
      has not been reelected in the proxy. What happened to
      the stock afterward if this did happen, I am curious.


      The provision to sell the company would make the
      holders of BOBE look like first class idiots! I don't
      think it would give us the value we deserve either. If
      you want to send a strong message to the board, vote
      against the people who are up. My bet is it won't do much
      good.

    • All Institutional Investors we need your help in
      voting your proxy. PLEASE READ YOUR PROXY CAREFUL BEFORE
      VOTING. 1-Thompson Siegel & Walmsley---2-Aeriel Capital
      Management Inc.--- 3-OHIO STATE TEACHERS RETIRMENT
      SYSTEMS---- 4-First Pacfic Advisors 5----Smith Thomas W.
      6----Wells Fargo Inst. 7----Bankers Trust N. Y. 8----College
      Retirement Equities 9----Neuberger & Berman 10----Equitable
      Companies Inc.11----CALIFORNIA PUBLIC EMP. RET.
      SYSTEM---and many many more. Look on the proxy statement page
      11 and see the cumulative value for the last 5
      years, compaired to the S&P 500 ,also look on page 8 and
      see just what the 5 highest compensated executives
      were paid. FOR WHAT? All of the directors got
      increases in their compensation. FOR WHAT? Please look at
      the annual report, and you will see that the
      executives were compensated entirely too much for what was
      accomplished in this small cap company. PLEASE, PLEASE,PLEASE
      we are asking for your help, in your vote before
      BOBE makes more mistakes in some fruitless
      acquisitions, as he has done before. They have all been
      failures. Now Dan makes a statement in the annual report
      that the company is financially strong enough to make
      more acquisitions. Can we stockholders afford to let
      them do it again, I think not? Again we need your
      help, without your Institutional Investors votes it
      will not happen. With the right leadership this
      company has great potential.

    • O.K. Chuck,

      So what I believe you are
      saying is that one person or in this case votes can't
      make a difference??? Don't tell this to Nixon who lost
      the Presidency by less than 100,000 votes or Jackson
      who was spared impeachment by one vote. The point you
      are missing is that by sending the Board a clear
      message, maybe they will act. If they do not act, then it
      is up to the little investor to lobby, scrach, beg
      or do what ever is nessacery to gain the avenue to
      have a voice. How do you think unions can shut down a
      giant like GM, and it can be said that they are only
      individual workers.

      BTW, if the stock is so bad why
      are there institutional investors buying the stock?
      If you think that it only to balance the gains they
      achieve, I can name at least 25 stocks which you can
      balance your gains with.

      Remember, alone I am only
      a voice, united we are the majority.

    • The board in this case falls into two distinct
      catagories.

      A. Second generation family
      B. Outsiders who are
      CEOs or own their own company.

      I am not saying
      that this is the case, but second generation family
      members do not in general do as well as their
      predecessors or the following generation. There have been
      studies on this!

      The outsiders like I said all
      have big jobs at other places or are retired from
      such. The compensation is in line folks with other
      companies from what I have seen. Is this right, I don't
      know. It is funny that the compensation committee is
      made up of board members. Some of whom have little
      stock in the company. I personally liked the post about
      Cheryl Krueger. It looks to me like she cashed out
      folks. Let's see, $250,000 per year, no stake in the
      company doing any better than average. Lay off
      my
      touch Stewart! I do have to commend Stewart though, at
      least he has a real stake in the company doing well,
      nice chunk of shares.

      Like I said before, it is
      "an old boys club", I would love to get in but the
      butt kissing and personal sacrifice are too much. Why
      we pay these part timers this much is rediculous,
      they have their own businesses to run. Note: this is
      not just a BOBE problem.

      To the poor nieve
      person who wrote the last message. Get real! Most of us
      including me do not have jack squat of a real vote. The
      institutional investors have the power. Its sorta like voting
      for president. I always end up with two bad choices
      because the parties put their candidates in. Very similar
      situation.

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BOBE
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