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Kimball International, AŞ Message Board

  • daymanfreider daymanfreider Jan 22, 2014 10:42 AM Flag

    Kimball Splitting to Sell Off Companies

    Kimball announced it is splitting into 2 companies. This is long overdue. Kimball was a well known Piano maker who up and switched directions dropping the heritage of who they are. They stopped building Pianos then started an electronics division. The constant restructuring to chase the buck has been non stop and head spinning.

    And yet the restructuring continues. It is a sign of a company who has no focus and is constantly lost. Kimball revolves around the inner circle family and decisions made are always made to line their pockets. Things as simple as firing people who have medical problems to get them off the payroll to firing a dozen people they never should have hired just because the bottom line does not bode well. They are ruthless people which is generally good for business but their changing directions at a constant pace id dizzying and shows how little they understand about anything.

    Even to the point of allowing sub divisions managers to commit multiple well documented illegal violations but fire people who will not bow to them. Even now under investigation for share holder fraud.

    Kimball has been struggling since before the housing crises and has played some pretty serious accounting games. Selling their prized forust to stay alive and keep the executives paid. A large complicated employee benefit program which sounded good when they started, but since the downturn several years ago the only ones who benefit are the executives.

    Kimball has looked to sell off the company to Steelcase for some time but the electronics division has held them back. The electronics has been a mess as they have had difficulty; some from incompetence and some from size. They keep trying to play with the big boys and everyone laughs at them.

    The electronics is not really even an American company anymore as they keep moving the manufacturing out of the USA.

    There is no doubt this is more maneuvering for the company to sell off these companies for a family windfall.

    Sentiment: Strong Sell

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    • Have you seen their latest furniture on their Facebook page? Looks like stuff you would get at Value City liquidations!!!!!

      Sentiment: Strong Sell

    • Everyone here knows Kimball is operating on smoke and mirrors. Their operation has cut everything under the sun to survive. They are restructuring profits to raise the stock price before the split but also before Thyne and Habig cash out in retirement.

      This is the biggest scam going on in Southern Indiana. The timing of the accounting has been restructured so the company looks better then it is, the company slits then Habig and Thyne retire and cash out.

      Then after this happens they can roll in the rest of the losses making this the scam of the century!

      This is an $8-10 stock.

      When this happens, this SEC will be greatly interested in the events leading up to this.

      Get ready to lose some money!!!!!!

      Sentiment: Strong Sell

    • I have a good friend at Kimball. They are playing with the books right now. It is not hard to move profits and expenses to have good quarters and not so good quarters.

      Kimball is preparing to split off Kimball Electronics group which has been completely dysfunctional and a bit of a joke in the electronic market. The furniture market is....well past it's prime. It was cool with the resurgence of furniture which resembled the "Jetsons" cartoon and the "Brady Bunch" furniture but it's coolness has long lost it's luster at they are trying to keep up with "Staples" generic office furniture.

      When the split is done, James Thyen and Douglas A. Habig are retiring and they will be cashing out to some degree.

      So what do the big wigs do right before cash out? Restructure earnings to time with their departure to cash in on the golden goose egg!!!!!

      Just watch the profits and stock tumble after the split!!!

      What is going on at Kimball right now should be investigated by the SEC!

    • I know that Monty will slam me with my vagueness. That is fine. I have to protect those who still work at Kimball I know and need their paycheck.

      Kimball has been dying for years. How many years can you stay at $1.2-1.3 billion. They have sold off some of their prized assets such as the forest which was worth much more than the auction for cash flow. They closed some of their most profitable plants. 231 and 30th street plants made more money than the whole entity today. Santa Claus is a prize plant. It always has been. Artec is dying. Hospitality should have never gone overseas. They were late to move to China and now is bleeding fast. If you knew how much money that plant lost you would picket the office to reorganize or shut it down now. The BMW contract is a HUGE loss. Good image contract but a profit killer.

      Why should HM or Steelcase buy them? They can just steal the business away at a fraction of the cost.

      Electronics: They just don't know what they are doing. A plant cannot take that much time to re-tool. They will never get to the real margins a high tech company needs to survive long-term.

      The employees are down over 30% in the last 6-7 years but margins are declining. The management they have are either incompetent or know they have a sweet position just kissing butt. Not much real talent is flowing INTO Kimball except a couple recent moves from a competitor. The talent has been a steady flow out. Walk around the businesses in town and you will see the people interviewing before they get the shut down notices.

      All you doubters, have you talked to the competitors? Have you talked to Kimball's suppliers? Have you talked to the employees? Even those who like their job? Have you talked to the retirees who are still well connected?

      Habigs and Thyens are planning their liquidation from the company. They are done. There is no more easy money to take. The split will hurt the employee and community. We will talk in 5 years.

      Sentiment: Hold

    • How much hatred and lack of reality do you have for this company? Your posts not only have gramatical errors, but lack some real logic. I request that you proof read your posts and also begin doing some research on the subject matter prior to making some ignorant statements.

      Sentiment: Hold