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Service Corporation International Message Board

  • friend_of_the_deceased friend_of_the_deceased Jan 17, 2000 4:30 PM Flag

    R. Waltrip

    I would enjoy hearing any info or opinions on the
    CEO R. Waltrip. Why should he stay or go? Shouldn't
    he be held responsible for letting this company
    accumulate so much debt and making such poor financial
    decisions that its very existence is threatened?

    I
    have to say I am an agnostic at this point, although
    the equation that ("All funeral service companys" =
    Loewen) almost has to be wrong. False analogies often
    point to good investment ideas but is SRV the best way
    to play this one? I sure would like to be able to
    believe in the management especially the CEO.

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    • My opinion, he should go. He operates as if SRV
      is a privately held co., often relies on (bad)
      advice of pals (Hunter expecially). Ithink he would like
      to step down but his ego will not allow him to do
      so. At this stage, SRV would be better if he and his
      buddies left as SRV needs management that has experience
      in running a BIG corporation.

    • Yes the CNC's had expired but most of them are or
      where mangers of thier locations. Many still have a
      feeling of pride in the firm to which they work. They
      want to hold up thier heads in the communities they
      live. Think of those that took a portion of sale in
      stock and the rest in CNC. Now the stock is worth a
      fraction of what it was and now there are being offered
      the door and a discounted CNC. By the way if I read
      that release correctly they are releasing the former
      owners from the CNC's before original expiration date.
      From, the release "These individuals were under
      employment, consultant and/or covenant-not-to-compete-
      contractual agreements and have been relieved from their
      obligations or restrictions under their agreements"


      This could backfire on SCI. Releasing that many
      experianced owners on the open market could be a dangerous
      thing. It has been proven that you can cold start
      mortuaries right in the heart of corp land in direct
      competion and make a go of it. Does SCI need more competion
      right now? I don't think so.

 
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