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National Presto Industries Inc. Message Board

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  • pmlljl pmlljl Apr 11, 2005 5:32 PM Flag

    Salton

    no slappz:

    I would like to point out that there is no chance that the Cohens could leave a mess like the Rigas's or a risky business situation like any of the cable companies face. There is an enormous difference between having no debts and hundreds of millions of dollars in short term investments and a small amount of cash and many billions in debt while a company is also losing money.

    Secondly, NPK shows very little evidence that the management is trying to enrich itself at the expense. They do not get large salaries, big bonuses, stock compensation or other outrageous perks like many other companies.

    I admit that they haven't done a great job of growing the company. On the other hand, I don't know of another small appliance manufacturer that has been as successful over a long period of time and that has paid a lot of dividends and still has profitable operations and a lot of cash.

    Salton perhaps looked like it might be, but it hit the wall like most of the others. I understand that they paid George Foreman around $200,000,000. Unfortunately, Salton's shareholders didn't get very much if they didn't sell when the stock was high priced. I also anticipate that everyone who wants a George Foreman grill has one by now. Therefore, I wouldn't have much interest in Salton now or if and when it may go bankrupt and then re-emerge.

 
NPK
76.61-1.40(-1.79%)Feb 5 4:02 PMEST