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SPX Corporation Message Board

  • justwonderingbeforeinvesting justwonderingbeforeinvesting Sep 8, 1998 5:33 PM Flag

    Share Price

    The Dow Jones Industrial Average logged the biggest daily
    point gain in record, rising 381 points, or 5%. So why is SPX still in the tank?

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    • "...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?

    • The only good thing Lockhart did was fire Scott Butler at Gedney.
      Other than that he was useless to GSX.

    • 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.

    • I keep hearing about GE in regard to this merger. Are we talking about General Electric? How are they involved?

    • Have studied GS for a while.

      I would
      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
      potential here

    • 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
      Muskegon, MI.

      We will see if my decision to
      increase my position at these levels proves to be
      foolish...stick around!


    • Keitern -- I shorted at 62 and covered at 45, so I'll take that any day. Are you still buying? These "smoke and mirror" companies always go south eventually -- be careful.

    • Brilliant!


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