DuPont's James Bore-Well Continues Cover-Up on DuPont Imprelis!
Pretending DuPont Imprelis Doesn't Exist, Beijing-Style! I Ain't Seen No Imprelis...
Good Morning, Bonjour, Guten Tag, Ni Hao,
Investors, yesterday, the overlord of DuPont AG, James Bore-Well, Executive Vice President, made a presentation at the RBC Capital Markets Industrial Conference, Sept. 11, 2013, 2:30 PM. If this RBC pow-wow is supposed to supply transparency and helpful information to investors and analysts, it fell far short. Strangely but not surprisingly missing was even the briefest mention of the biggest force draining cash and pressuring margins in DuPont AG & NUT: Tree-killer DuPont Imprelis.
Remarkably neither Jim Bore-Well nor RBC say a word or two about the huge drain on cash looming in the near future from settling tens of thousands of claims in federal and state courts generated by DuPont AG's failed dandelion lawn treatment turned extraordinarily toxic serial tree-killer, DuPont Imprelis. We believe conservatively the tab for the litigation claims will total $2 billion or MORE. If these charges are not factored in under some non-GAAP accounting rules, margins are grossly and artificially overstated, if not Pollyannaish.
Unfortunately for DD shareholders, DuPont Chieftess Ellen Kullman and Jim Bore-Well as DuPont AG über boss have commanded and presided over the most costly new product failure and ensuing environmental disaster in 21st century corporate America. We think that is worth a brief mention in any discussion for the benefit of investors.
Merely the morning column penned by one individual retail investor and long-time student of the deceptively