Ms. Kullman & TEAM Execute Simpleminded SHRINKAGE STRATEGY of the Visionary Ex-Chief Chad Holliday. A Serial Corporate Garage Sale at Fortress Wilmington.
Good Morning, Bonjour, Guten Tag, Buenos Dias,
Readers, you would think after a decade of faltering and failure, the clumsy "leaders" of DuPont might try a new strategy for growth. But, no, Ms. Kullman is determined to honour her mentor and predecessor, the bumbling ex-über boss of DuPont, Chad O. Holliday, Jr. The hollow Holliday passionately believed he could severely cost-slash and shrink DuPont into something larger.
Holliday's grandiose signature Shrinkage Strategy didn't work and will not work as any fifth grader could have told him. By the year 2008, DuPont once the largest, most powerful chemical enterprise on the globe had shrunk to number 10 in revenues amongst global chemical companies. By virtually every financial metric, DuPont is significantly diminished versus what was prior to the reign of the Holliday/Kullman duo.
In Fortress Wilmington this week, they are popping the champagne corks to celebrate dumping over 10% of DuPont's revenues, some $4-plus billion generated by the Company's solid auto paints business. Last week we found out Ms. Cull-Men is fixin' to cull and dump her healthy cyanide business with an EBITDA of $100 million a year.
[To Be Continued...DuPont Management response]
Merely the morning commentary of one individual investor and long-time student of the broken-down, broken-up DuPont Company...funfun..
Folks, here is the PR spin on Ms. Kullman's execution of the Holliday Shrinkage Strategy™...
“This transaction is consistent with DuPont’s growth strategy of market-driven science, inclusive innovation and directing capital investments and R&D focus on agriculture and nutrition, biotechnology and advanced materials,”
Chirps a DuPont spokesperson, Gregg M. Schmidt, on Tuesday, Feb. 5, 2013.
Killing the careers of thousands of experienced regular employees and workers in research and production and marketing is a "growth strategy"? Subtracting huge chunks of revenues and cash flow is addition?? Liquidating corporate garage sale-style is "growing". As for that phony "market-driven science" and "inclusive innovation", Imprelis, Tell Us!
Any investor who puts his hard-earned savings into DuPont's long non-growing shares is buying into this wacky dogma, Shrinkage Equals Growth. What a laugh.