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Service Corporation International Message Board

  • oac100 oac100 Dec 31, 1999 10:38 AM Flag

    scivet?

    <Second, in the absence real improvement, the
    Chap 11 filing will be in November 2000, when a $600M
    credit line comes due. >

    this is nonsense.
    Merrill Lynch on 11/23/99
    came out with a
    neutral/accumulate on srv.
    BearStearns began coverage just this
    week.

    cash flow has been hugely improved with the suspension
    of the dividend, $90,000,000.
    you really have no
    idea what your talking about.

    the long term
    debt coming due is DOWN for the year and there was an
    early extinguishment of long term debt of $365,936,000
    in 99.

    its probably better if you don't post
    here.

    IMHO you offer gossip which is not constructive.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • srv is not endanger of chapter 11.

      cash
      flow just from cutting the dividend is appx.
      90,000,000 per year.

      think about this, you buy assets
      for $10 cash and $30 of stock.

      a year later
      you buy back the stock for $6.50.

      the stock
      two years later goes back to $30.

      Is this a
      smart deal?

      it happens all the time. and is
      happening here.
      look for the stock buy back to continue
      quitely,
      and a turn around in the distant future. about the
      time the stock is all bought back.


      good
      luck.

      long 60,000 shares

    • Delete first.

    • The only way ANY of the big funeral conglomerates
      will succeed is in using the economies of scale to
      reduce prices. Then--and only then--will volume generate
      enough to keep Wall St. happy. In the meantime, there
      are many "independent," low-overhead operators who
      will give them a run for their money and who can be
      creative in what they offer without checking with the
      "head office" or resorting to manipulative tactics to
      crank up the bill.

      FYI: The boomer generation is
      an information generation full of "shoppers," unlike
      the last generation of funeral buyers. Furthermore,
      fewer of them are impressed with the ostentatious
      facilities and refuse to pay inflated prices for them. Some,
      yes, but probably a decreasing number, from what I'm
      hearing. (If the supermarket started charging $10 per
      tomato, would you keep buying? Funeral inflation has
      exceeded credulity and perceived "value.")

      There
      will have to be a MAJOR change in *attitude* before
      any of the Wall St. death companies will see a
      come-back. If they're too slow, others will pick up the
      ball, and they may not have a chance of playing
      "catch-up."

      Actually, SRV had a chance but fired Russ
      Harmon, a real guru of low-cost alternatives they bo't
      out in the DC area. Hired him to teach them how but
      didn't like his message--get rid of corporate jets, for
      example. Now they may have to . . . because they didn't
      listen.

      LC

    • The only way ANY of the big funeral conglomerates
      will succeed is in using the economies of scale to
      reduce prices. Then--and only then--will volume generate
      enough to keep Wall St. happy. In the meantime, there
      are many "independent," low-overhead operators who
      will give them a run for their money.

      FYI: The
      boomer generation is an information generation full of
      "shoppers," unlike the last generation of funeral
      buyers.

      There will have to be a MAJOR change in *attitude*
      before any of the Wall St. death companies will see a
      come-back. If they're too slow, others will pick up the
      ball, and they may not have a chance of playing
      "catch-up."

      Actually, SRV had a chance but fired Russ
      Harmon, a real guru of low-cost alternatives they bo't
      out in DC area. Hired him to teach them how but
      didn't like his message--get rid of corporate jets, for
      example. Now they may have to . . . because they didn't
      listen.

      LC

    • adressed to the right poster!

    • Just in case you missed this message (if you
      don't want to respond or can't I understand)

      I
      have been reading some of your posts and I am curious
      whether you think SRV can survive? If they can survive is
      there a good business here that SRV can pursue
      profitably going forward i.e. can national chains compete
      and gain advantages in the funeral industry? What is
      your opinion of the current management? Are they well
      suited to turning this company around? Which companies
      in the industry are best positioned to exploit the
      present circumstances?

      Thanks for your time and
      knowledge.


      --------------------------------------------------------------------------------

    • that is the question and you asked the right man for the answer.

    • I have been reading some of your posts and I am
      curious whether you think SRV can survive? If they can
      survive is there a good business here that SRV can pursue
      profitably going forward i.e. can national chains compete
      and gain advantages in the funeral industry? What is
      your opinion of the current management? Are they well
      suited to turning this company around? Which companies
      in the industry are best positioned to exploit the
      present circumstances?

      Thanks for your time and
      knowledge.

    • Didn�t really seek specific inside information but found your post, nonetheless, encouraging, since you have not foreclosed getting back in.

    • And don't! Please.

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