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Fresh Del Monte Produce Inc. Message Board

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    • I think FDP knows they can't make money in
      bananas, but figures that $3/box or whatever they are
      getting covers the transportation costs to get the golden
      pineapple to market. That's where the $$$ are made. Great
      short-term strategy to milk earnings and cash flow, just
      digging a deeper hole for the long-term.

    • FDP is going nowhere fast. Pines are the only
      source of $ and throughout the industry, buyers, CQB,
      DOL, etc all laugh at the inept sales force. They are
      under tremendous pressure to sell volume and have no
      regard for the price. $4 is only a dream for them right
      now. Try $3 LOWER than that ! Mgmt, Edmonson
      especially, is not well thought of in the industry and is
      delusional in thinking he has assembled a crack sales force
      of other banana company rejects. Run fast from this
      dog....

    • We grow 5 varieties of Asian Pears and are
      looking to expand our market. Any serious buyers
      interested can leave a message at capears@yahoo.com. Please
      leave an e-mail address or phone number. Very high
      quality and large sizes ready to ship.

    • If you obtained that information by calling FDP
      HQ then they should start screening incoming calls.
      Those responses are scary! However, this is the
      internet and we all believe everything posted
      (right?).

      If they said competitive golden pineapple is coming
      in 2 years, then count on 1. Unless CQB goes belly
      up, which is possible, FDP is going to be in a world
      of hurt once that new pineapple shows up since it
      probably generates at least 2/3 of earnings.

      I
      would understand how existing FDP management know
      nothing about acquired businesses since these are former
      businesses or off shoots started by executive office and
      they probably did not want to change reporting lines.
      However, unless they consolidate back office operations,
      there will be redundant costs.

      When General
      Counsel's depart (unless retiring) that is somewhat
      concerning. These guys, along with CFOs, are the only
      gatekeepers that shareholders have. If this departure is
      purely economic, that's ok. If something else, time to
      get concerned.

    • How come Chiquita execs and Dole exec's are
      loading up on their shares. Look at insider execs at CQB
      and DOLE, they are putting the money down on their
      companies, not waiting for options to turn profitable. My
      opinion, this is a strong indicator of managements belief
      in their company. Now look at Del Monte, where is
      management? They are selling their shares or doing nothing.
      Where is senior managers guts when they can buy their
      company below issue at a bargain. They are punching out,
      that does not add up.

    • How come Chiquita execs and Dole exec's are
      loading up on their shares. Look at insider execs at CQB
      and DOLE, they are putting the money down on their
      companies, not waiting for options to turn profitable. My
      opinion, this is a strong indicator of managements belief
      in their company. Now look at Del Monte, where is
      management? They are selling their shares or doing nothing.
      Where is senior managers guts when they can buy their
      company below issue at a bargain. They are punching out,
      that does not add up.

    • I like this company sometimes, thought I should
      investigate a little.

      Checking in with some of
      management in Coral Gables it took but three phone calls and
      a few transfers to get some very interesting
      details. Management says bananas are cyclical, will come
      back and this will/should help. Admits gold pine is
      great earner but days are numbered with Dole and others
      coming on line fast and within next two years with
      volume. Is indifferent to down right negative on
      executive management. Even at senior VP level not a lot is
      known about expansion plans and acquistions, many of
      the new companies were previously controlled/owned in
      names of majority shareholders. Management is not asked
      any opinions just told what FDP is buying.


      Recent departure of head of legal and sales exec's is
      just another wave of top people fleeing the operation.
      Finance people were guarded with information.


      Even with downgrade on earnings, price is still just 7
      times this years earnings.

    • I don't think there is any upside in this sector
      until early next year (at best). When there is recovery
      in banana pricing, then stock prices will go along.
      What I am most concerned about regarding the
      supply/demand isuue is that Hurricane Mitch did a significant
      amount of damage in Honduras and Guatemala and pricing
      has still been weak in 1999. Some of these volumes
      will come back into the market eventually. Where is
      the home for this fruit at such low
      prices?

      I'll do my best to handicap the 3 players, but it is
      only one opinion.

      CQB - least attractive due to
      heavy debt burden, poor leadership and unwillingness to
      work out a settlement with the EU. I have already sold
      my small holdings.

      DOL - most diversified of
      the 3. But bananas are still the key source of
      earnings. Like CQB, DOL has a CEO whose time has past and
      the company needs new leadership. I'm not sure if
      that will happen.

      FDP - better than CQB.
      However, like the others, lack of leadership. Company has
      done some questionable acquisitions(noted in previous
      posts). If there is competitive product for DM Gold
      Pineapple, FDP will be hurting since it is still #3 for
      bananas in the eyes of food retailers.

      No buy
      recommendations here. Watch CQB board which seems to have best
      industry information, including pricing.

      Higher
      banana pricing benefits all players.

    • You have a very good knowledge of the fresh
      fruits industry.I would appreciate to know your opinion
      on each of the three following companies FDP,DOL and
      CQB(strength and weakness).For the next 24 months which one
      will you buy,hold or sell.I recognize that it is not
      easy to answer.Thanks,regards G.T.

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FDP
31.72-0.22(-0.69%)10:22 AMEDT

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