The ipad destroyed borders and is basically beating up anything to do with paper. Now i guess the same could be said when the tv came out that it would get rid of radio — so with that being said — there will always be text and paper but it just wont be a growth industry — the only other way crrc grows is through content — now they do have the education stuff that you could probably charge to receive on an ipad, same with creative home articles — but the growth days seem very far behind now — stock holders equity has been going down for the last 3 years — the dividend payout is ridicules — but i guess if you see the company as dead money maybe management wants to get the cash out of the company just in case everything goes kaput
Crrc once was a great company that just ran into a technology change that basically destroy the newspaper industry, the text industry and many other industries — i never believed that there would ever be something that people would replace text with but the kids of today are so familiar with electronic devices that it now looks like a sure thing
Yes, a sure thing that management should have seen coming, rather than listening to middle managers who are out of touch with reality. People who only wish to try to impress. I was going to college in the 90's, commuting and often carrying 50lbs of books. How many of the fat lazy kids today would, if they could, do that? And why, when all you have to pack is a little electronic device that you can get the needed books at half the price of the heavy paper book. The college book store system didn't help a whole lot either. Buy the paper books you need at a premium, then sell them back to the store at the end of the quarter for half what you paid, so they can again profit from their sale. Sometimes, it pays to be in touch with the people who have experience before making commitments to major investments in machinery and warehouse space. A lot of the education market other than the college system is rapidly dwindling too, many elementary schools are now set up so that each child has their own computer. That eliminates a lot of the little workbooks and such that Kendallville prints also.
Some slick talkers have made a mess of things, and quite frankly, this is just the beginning of the fall, I will relish watching every minute of it. Only good thing, Bible sales should pick up as the world situation gets worse, put your money there.