Let's face it folks, this dog don't hunt anymore. The Board needs to divest the assests and try provide some return to the investors. There are great people within this organization, sadly they aren't running it. They aren't even heard for that matter. The same 'ol boys keep heading down the path of an impending implosion, completly blind to the obvious doom. Hey, what do they care, they are getting theirs, right?
I think the anticipated dividend reduction has to already be priced into this thing. Maybe it will drop a little if they announce they are cutting the dividend in half. What would be more scary would be if they announced that they are keeping the dividend at the current amount - then I would be really worried as to the sanity of management.
I think I agree with you unless they drop the dividend entirely. The business is so badly positioned - and poorly managed - another quarter like the last one and this thing is sub $10. However, I still think the board is non-existent, and Pat's arrogance will allow him to keep the dividend until the very last possible moment - or bank covenant - because it's what's in the best interest of the Gallagher family. This company was never run for the shareholder and it couldn't be more clear now.
So where is the bottom when they eliminate the dividend? Will the board give J. Arrogant his walking papers? Will J. Arrogant give Clueless Howell his walking papers? When will AJG employees realize this is a really lousy company and it is only going to get worse?
Hey Dali Lama
How about a group hug? Will that do it? I'll alert the analysts; I'm sure the buy recommendations will come streaming in as a result of your masterful insight into progressive management. Oh how I shake with excitement over the idea of unleashing the inner beauty of AJG management and seeing them come to realization that they are all total losers. Maybe Patty Boy will join you at the ashram?
Time to go search for the meaning of life. I've taken up meditation to add meaning to my miserable existence.