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Cosi Inc. Message Board

  • chrisnd01 chrisnd01 Oct 16, 2011 1:01 PM Flag

    Another poor quarter gives Blum more credibility

    Another poor quarter of performance gives Blum more firepower to force a change in management.

    I also love how management blamed the weak economy again. As if everyone in the world isn't aware that the economy is weak. It was weak a year ago, too.

    I am a shareholder and am unhappy with the current regime. I hope they keep up the bad performance so that Blum finds a way to push them out.

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    • I notice the present CEO was heavily involved with another company that went chapter 11 back around 2003. (He was a principal officer of Magellan Health Services, Inc. and 88 of its affiliates which commenced a case on March 11, 2003 under Chapter 11 of Title 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.) I also do not see where he has any real experience in the food industry that I can see. We need someone that that has been there and done it. Mark S. Demilio might be a good guy but when my money is at stake I would prefer someone with more experience at the helm.

    • Not sure if Blum is the answer but it is obvious the BOD doesn't have the answer. The BOD says Blum is trying to steal the company, not sure how that is the case. But since they seem to be headed for BK at least with Blum Cosi might have a chance to survive.