"...other than that he was useless". Please,
Butler may have had his faults but he didn't take a $2
billion Fortune 500 company down the tubes. Nat Owen must
be rolling in his grave when he sees what Mike did
(or didn't) do. and by the way, he surrounded himself
with a crew that wasn't always GE. There was some IBM
doing damage as well. RIP Mr. Owen, there's nothing you
could have done. I just hope I can make it to
retirement so I won't have to depend on SPX for my old age.
Anybody hear more about SPX's view towards EST?
You and firesong are wrong in lumping together
Lockhart and Blystone because they both were at GE.
Blystone is a dynamic guy who knows where he wants to go
and that is a first class organization with superior
profitability. He will give you plenty of responsibility and
reward you well if you work hard and produce, but he is
demanding and you better deliver what you say you will.
Make sure you understand and believe in EVA. Blystone
is unlikely to take his money and run. He wants to
build a great industrial company as much as make money.
Yeah guys like that have big egos but you need one for
jobs like that, you just hope it doesnt get too big.
PS I don't work for SPX.
The Chairman of General Signal and SPX are both
from GE. Anybody that worked with them at GE will tell
you they got out before their careers went down the
dumper -- no one there thought much of them. Both have
huge egos, are good number crunchers, but poor
leaders. I give Blystone a few more years till his markets
start getting soft -- then he'll take his money and run
just like Lockhart did.
Have studied GS for a while.
suggest a short hold on the stock - watch the SPX
housecleaning carefully. If SPX retains the GE fraternity that
makes up GS - sell fast. The stock will likely take
major corrective action. I have observed that very
little was invested (by Mike) in downstream product
development or retaining managers with lengthy experience in
each of the GS business units particular industry
segment (reflected in the apparent "peaking" of the
stock). Much of this valuable management depth was lost
to competitors and replaced with persons whose only
credit was a tenure at GE. If SPX moves fast, there is a
great deal of potential to work with. Much of the
current GS business units have solid products for todays
market and a great deal of manufacturing capacity to
meet demand. Where is the crew that will help create
this demand? It did not show up strong at GS. If SPX
does not move in and identify the individuals
resposible for failing to make the "sleepers" at GS produce,
SPX will be frustrated with the same lack momentum
that Carpenter tried to cover through "growth by
Does anyone have the guts for a
prediction on SPX's moves? Pro TQM or not? Push for sales
revenue or revenues through aquisition strategy? Lots of
stockguruyehright -- Congrats on your short. I'm
curious about your "smoke and mirror" comment though. I'm
new to the stock but like the longer-term story --
young, aggressive management team which has been
properly motivatived (i.e. - options, EVA, etc.). It seems
to me they can add value with the GS acquisition.
How much of your good fortune was due to the GM
strike? Your comments?
Your previous message stated that you were
shorting, not that you had shorted. Good call if true. I
sold 40% of position @ 75 and 77 earlier this year.
The position was initiated several years ago @ 17 and
15. I'm not sorry I kept 60% though, because I still
believe SPX is a good investment. I live 15 mi. from
We will see if my decision to
increase my position at these levels proves to be