After 211 Years: A Dismembered & Disgraced DuPont!
Destructive Duo of Holliday/Kullman Have Done In This Once Powerful Chemical Giant
THE SUNDAY SIZE-UP
Readers & Fellow Investors, in the week just past, a most welcome outside force has hit the shaky Delaware conglomerate like nothing has for decades and decades: DD shareholders, and particularly well-known investor activist Nelson Peltz are rising up to revolt against the long embedded, inbred and inept regime of DuPont Chieftess Ellen Kullman and her tiresome TEAM of bumblers and fumblers.
Ms. Kullman's response? First, she and her PR con artists pretend she was working on reform all along! Simultaneously she stuffs $50 million as a going away gift from the shareholders into the bottomless pockets of her frumpy DuPont™ Snorona® corn-made pantsuit. She lards circa 100 of her pals with similar platinum packages.
Second, her masked operatives and avowed DuPont employees on the net pretend Peltz has only a puny position of 5.75 million shares, less than 1%. On Thursday, Aug. 16, 2013, the media reports, Peltz has a much greater stake, some 21 million shares worth about $1.3 billion. Fortress Wilmington pretends they are engaging in constructive discussions with Peltz on ideas DuPont execs had already conceived! Furthermore, they imply he will slink away soon and disappear. Absolutely not. Peltz means business, the serious business of resurrecting real, not phony PR value for shareholders.
Mon Dieu, Monsieur Eleuthere Irenee du Pont never imagined in 1802 on the founding of his eponymous Company, it would devolve and be dismembered while being run into the ground by a business senseless woman who grew up in inbred Wilmington, only a few miles from his estate on the Brandywine River. 17 generations of du Ponts must be spinning in their graves, if dead, or throwing up if they are alive and watching in disgust. End of an era.
Merely, the SUNDAY SIZE-UP, digitally penned by one retail investor with both long and short positions in
Yesterday's (Oct. 24, 2013) announcement by Ms. Kullman, DuPont Chieftess, that she is exiting chemicals and dumping chemicals into a segregated corporation is one more downward step towards the ultimate demise of this once great enterprise.