DuPont's BIg Bosses Continue To Dump DD Shares Big-Time!
Thumbs Down on the Very Enterprise They Run
Good Morning, Bonjour, Guten Tag,
Readers, Seeking Alpha disclosed the news yesterday morning, April 24, 2014 that Ms. Ellen J. Kullman, DuPont Chieftess, and her Executive V.P. James Bore-Well, overlord of DuPont AG, and two Senior V.P.s, Benito Cacherino, and Tommie Sager, Esq, who heads up DuPont's army of little known lawyers from little known schools have been dumping DD shares big-time.
It certainly is telling for outside investors in this highly secretive and shrinking conglomerate that insiders at the very top continue to be heavy sellers of DuPont shares. Those in the know are fleeing from the shares, shunning equity investment in the very Company they run. No one would know more about the intractable weaknesses and dimming prospects for this floundering Company, about to lose $7 billion or 20% of its total annual revenues of circa $37 billion with the dumping of DuPont Performance Chemicals via a spin-off.
Sans chemicals, Ms. Kullman will be reduced primarily to being a second-string player in seed biotechnology to superior-performing Monsanto, and a third-string player in ag chemicals and crop protection to Syngenta and Bayer. Moreover, Ms. Kullman has been outrun in food additives and enzymes by world leader, Novozymes.
The much touted crown jewel DuPont Ag put on a poor show for Q1 2014. Sales were down 6%, down 7% by volume, with operating earnings down 5%. Sales of seeds plummeted, down 9%.
We find the share sales data telling, indeed. Not a single purchase of DD in the open market. You would think that if the future of DuPont is as glorious as the top execs and their PR con artists make out, they might purchase a share or two. We note that many CEOs of successful corporations and banks do buy shares of their companies in the open market.
Merely the morning commentary of one individual investor and long-time student of DuPont in decline.