I don't think FDP employees are laggards. This
company has been victim of a couple of felons, Nadir and
Cabal. They were milking cash flow from FDP to fund
their other schemes. Current CEO owns 65%+ of the
company with none of his own capital at risk. He out
negotiated the Mexican government (Tough job!) and got banks
to put up the cash, then used IPO of 1/3 of company
to repay bank debt. Since then, he has sold own or
family related businesses to FDP at rich levels with
so-called fairness opinions.
At the end of the day
no matter what nonsense goes on, banana prices will
dictate FDP's performance. Micro has some good comments
about DM Gold marketing strategy. I've heard the same
that supermarkets will drop them cold once other
suppliers have competitive product. Don't know when that
will happen. I've also heard someone is growing the
stuff in Ecuador. If so, watch out because those guys
will pump in as much volume as possible regardless of
price. Just look at the banana business.
this stock has lousy float (trading volumes) and large
ownership by CEO will keep out many large institutional
investors. This sector is the dog of dogs right now. No
winners here (FDP,DOL,CQB).
Microsoft man.... OK, you have sources stating
that there is in- fact problems internally. Until very
recent quarter, results were looking promising. With
banana market problems and whatever else, there is a
sign of some cracks. Now I understand these new guys
took over an existing management that was not
successful and needed a new culture which I understand they
delivered swiftly. Is that culture good for the future
success of FDP and 'us shareholders'? As for these 25
people looking for jobs I have one question, are they
they the performers? If it is the performers that are
leaving then we have problems, if it is the laggards, let
'em go fishin.
As I said in an earlier posting, the management
is garbage. It is true taht mgmt. is treating their
people like SH**.
My brother is a finanical
recruiter in Miami and he tells me that they have a
horrible reputation due to the cheapness of management and
the way they treat their employees. He has over 25
resumes from people currently working at Del Monte who
are looking to get out. The job market is booming and
when you have people looking to get out, and can't
attract new talent, the company suffers and so will the
stock price. The asshole who is CEO can't treat people
like he is still in the middle east.
out at 16 in the IPO, I know because I was stupid
enough to buy some and sold at a loss of 14 1/2. The
stock market is at new highs and yet FDP is 20% below
Another problem is that they
overcharge for the GOld pinapple. I was in the store and is
was 5.99. I won't pay for that and most middle class
people can't afford that either. That is POOR
AS I said it realtes to one thing. PISS POOR
management. People will catch on, and so will the Board and
hopefully start over with a smarter CEO, with a different
approach, becasue obviously this one isn't working.
This Company is forecasted to earn almost $2.00
for the year ended Dec, is being recommended strong
buy by 5 brokerage houses and is trading at a scant 6
times this years earnings? What is wrong here, is it
the banana pricing and if so how come the earnings
forecast is still so bullish.
Stonecrab, you must know some of the interworking
of the banana industry, i have been following the
big three, understand that this is the traditional
low point of the banana pricing cycle, late summer.
Now, this FDP sounded to be the interesting play, but
i am hearing that inside management has gone from
tough new kids on the block to the f-troop with poor
team work and low moral. Do you know if this is a true
Based on what, I am looking to find a reason to
believe in new mgmt and this well known brand. BUT,
banana business is terrible, pineapples making money but
their exclusive gold is being challenged by Dole and
the rest of their business's are really questionable
in terms of returns, especially their new
acquisition that is supposed to be really underperforming.
Where is a reason to load up and what will drive this
over $20? I too have bought in on this Co.
FDP down almost a point since your last post,
volume low. FDP is about to set an all-time low. Let's
get a bucket of that Del Monte chicken and figure out
how to get this hound moving to the
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