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Bluelinx Holdings Inc. Message Board

  • ltcgatewood ltcgatewood Feb 21, 2014 4:30 PM Flag


    Hey Alanwood - I owe you an apology. When you said that Bluelinx was going to "take off", I didn't realize you meant toward zero. It's only a mere 25% drop since your proclamation on Dec 30th. At this rate, you ought to be able to average down by Q4. You may want to reconsider your investment strategy of "ignorance & patience" and replace it with profitability & performance. If this is your idea of the "restructure" working, then I'm sure the shareholders must be thrilled with another $40 mill loss. Like you said, it's not a 100 yard dash & I'm willing to give the new CEO time to make changes, but they are in a world of hurt & it's getting worse. Q1 will be another loss due to the harsh winter weather. Good luck - your cheap keeps getting cheaper....

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    • Why are you two wasting your breath over this dying dog? This organizational catastrophe is down 20% in the past 4 months. Huttig is up over 70% since December 1. Booyah!

    • I accept your apology gatewood. Don't mention it, we all have our faults. Yours are a bit more obvious than others but not to worry. I actually like the stock and have added to my position in the weakness. I have no axe to grind re BXC as so many posters on this board do. Turnarounds are often a messy business and not for everyone. I've made a lot of money on them and continue to like BXC's future. Two really strong points in my favor gatewood: Insider ownership and Cerberus. Neither are there to lose and both have great opportunity for gain.

      • 3 Replies to alanwood533
      • I’m sure you've made a lot of money and as most successful investors do, they boast about their accomplishments on an irrelevant company’s message board. And let me guess, you & Kenneth Lay both sold your Enron stock just before the collapse? I would have a lot more respect for you if just admitted that your December post about the BXC stock “taking off & the restructure is working & will show in the 4th quarter” was completely outrageous, wrong & laughable. You can pump this stock all you want – they can’t make money in a rising tide. It will take the new CEO another 6-9 months just to figure out which branches to close & what people to jettison - which is the next step by the way. But your point regarding insider holdings (SF) may pan out eventually. You’ll be able to pick this stock up for $1.25 in May. I may even be a buyer at that point ;).

      • A fool & his money are soon parted!

      • alanwood it would appear that with virtually no cash or credit to speak of Cerberus is going to have to make a cash infusion in order for BXC to survive. Of course this is just my opinion. What are your thoughts?

    • Gp management was sold a dream by a consulting firm. they invested hundreds of millions of dollars in facilities, relocation, technology, equipment & umm..."training". Mix in years of incompetent management, blatant cronyism, & allow all your good talent to leave for the competition and what do you get? a raging dumpster fire of epic proportions with no roi. Too valuable asset wise yet hemorrhages money year after year. 20 years later and no other competitor in the industry has switched to this "revolutionary" platform. Why? because the business model doesn't work. Go ahead & keep shuffling the deck-chairs but until they make real structural changes, this company will continue to decay.
      "Insanity: doing the same thing over and over again and expecting different results."

1.12+0.04(+3.70%)Mar 2 4:05 PMEST

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