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Sysco Corporation Message Board

  • go_sysco go_sysco Jun 6, 2007 9:15 AM Flag

    Management continues to disappoint

    For five years I have watched this company rest on its laurels. The management apparently has no new ideas. They act like a bunch of tired old truckers.

    Few companies have as much opportunity as Sysco to become a major innovator and guiding force in food supply and restaurant service. Yet, this management team has done nothing to innovate, blaming the state of the economy for their lack of performance. It's time as shareholders we take action and replace this team with new blood and fresh ideas.

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    • Who will replace SYY management? These guys are out of time.

    • Okay, so I bring this thread up again. In June, we discussed how management were locked in status-quo world for the past 5 years with little innovation. Some said not their fault, blame market conditions. Others said new blood is needed.

      Now, stock price has fallen below the range and setting new lows. So, are we going to get rid of management or what?

    • You obviously know nothing about the company. There are many strategic initiatives that have been implemented to increase their competitive advantage. Have you heard to the redistribution initiative, sourcing initiative and their focus on integrated delivery? Do some HW and peel away some layers. Have you looked at the financials? If you do not know what they are, just look at the income statement, balance sheet and the statement of cash flows. Maybe taking a course in finance might help you. This company is a long term investment and well worth it.

    • NOte JB Hunt is not a food service company!

    • What is Schneider's doing to my company? Why does he not focus on consolidating the operations of all the disparate divisions, centralize warehouses, standardize and improve operations, automation and customer service? The last thing Sysco needs is far flung divisions overseas! There's too much opportunity to improve the bottom line by integrating and standardizing the operations here.

      Sysco looking for overseas opportunities, CEO says
      7:13 p.m. 07/19/2007 Provided by

      HOUSTON, July 19 (Reuters) - Sysco Corp (SYY), the largest North American food distributor, is looking for opportunities to tap into the $1.5 trillion food service market outside the United States, chairman and chief executive Richard Schnieders said on Thursday.

      He would not comment on analysts' speculation that the Houston-based company might target South Africa's Bidvest food service division for acquisition, but told Reuters, "We have been pretty specific in our interest in going offshore."

      Sysco operates mostly in the United States and Canada, but has taken small steps toward foreign markets.

      Last week, it purchased Austin Tatum, a Hong Kong-based company that makes personal care products for hotels in Asia and Australia.

      Schnieders, who spoke to Reuters after participating in a panel on "green" initiatives, said there was a big market overseas for U.S-style products and food, driven in part by U.S. tourists.

      "When we go to China or wherever, we want to be in kind of a U.S.-style hotel with U.S.-style food," he said.

      It has been rumored recently that Sysco unsuccessfully bid for other non-U.S. food service companies, but Schnieders did not comment on the rumors.

      In the United States, he said there was strong consumer demand for organic foods and a growing movement to buy locally produced goods.

      "Probably the biggest thing of all is local, particularly colleges, schools, and other venues, demand for product that's grown within a specific radius," he said.

      In response, Sysco has begun "building relationships with smaller producers" to provide local foods, he said.

      Schnieders said Sysco is trying to become more environmentally friendly by setting goals of reducing its diesel consumption and electricity usage by 5 percent.

      Sysco vehicles drove 158 million miles last year, he said.

      "To the extent we can reduce that number, about $3 per mile cost, it's a huge opportunity for us both in terms of costs and environmental impact," he said.

      • 1 Reply to go_sysco
      • This extracted from the Houston Chronicle.

        Oct. 4, 2007, 9:39AM
        Sysco selling warehouse, building high-tech facility

        Copyright 2007 Houston Chronicle

        The local subsidiary of food distribution giant Sysco Corp. is selling its decades-old storage warehouse near the Anheuser-Busch Cos. plant off Interstate 10 East and building a much higher-tech one on the north side of town.

        The new facility will be state of the art including a European system to store and retrieve boxes that's just now making its way to the food service industry and a test kitchen that will rival a full-service restaurant.

        The building will be at the southwest corner of Beltway 8 and Interstate 45 in Harris County and contain 585,000 square feet of refrigeration, dry warehouse, freezer and administrative space, a significant increase over the 350,000 square feet of space it has now.

        Sysco plans to sell its existing facility to the Houston Food Bank, which also needs additional space to distribute more food in its efforts to combat hunger.

        Houston Food Bank's Greene said the building is priced at $22 million but that the food bank is asking for a donation from Sysco to help acquire it.

        Sysco declined to discuss the financial terms as they are still in negotiations.

    • This is my hope -- that some buyer sees an opportunity to buy the company, make the necessary management changes and then refloat it.

      Unfortunately, there aren't many in that business.

    • This stock still has good value, but be sure to balance your portfolio with fixed income. see this:

    • Has anyone done analysis on SYSCO's takeover defenses? They would seem to be ripe for takeover by a private equity fund. See below...

      Sysco CFO Exercises Options
      Monday June 18, 10:49 am ET
      Sysco Chief Financial Officer John K. Stubblefield Jr. Exercises Options for 69,332 Shares

      WASHINGTON (AP) -- The chief financial officer and executive vice president of finance of Sysco Corp., which supplies food and services to restaurants and hotels, exercised options for 69,332 shares of common stock, according to a Securities and Exchange Commission filing.
      In a Form 4 filed Friday with the SEC, John K. Stubblefield Jr. reported he exercised the options Friday for $10.94 to $20.97 apiece and then sold 18,581 shares on the same day for $33.27 apiece.

      He also surrendered 45,873 shares Friday to the company for $32.46 apiece. Insiders can surrender shares as a way to cover either taxes or the cost of exercising options.

      Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

      Sysco is based in Houston.

    • Another old timer gets added to management. No new talent equals more of the same disappointment...

      Kelso Appointed Vice President of SYSCO Corporation and Chairman and Chief Executive Officer of The SYGMA Network, Inc.

      Promotion Follows Planned Retirement of Thomas H. Russell
      June 13, 2007: 05:06 PM EST

      HOUSTON, June 13, 2007 (PRIME NEWSWIRE) -- SYSCO Corporation (NYSE:SYY), announced today that Alan W. Kelso has been appointed vice president of SYSCO and chairman and chief executive officer of The SYGMA Network, Inc., SYSCO's chain restaurant distribution subsidiary. Mr. Kelso currently is group president, operational effectiveness of the company's strategic development group. His promotion is effective July 1, 2007 at the beginning of SYSCO's fiscal year 2008. He succeeds Thomas H. Russell, who is retiring in October this year.

      Mr. Kelso, 56, began his SYSCO career in 1993 in the operations department at the company's Seattle subsidiary and progressed through managerial roles in human resources and labor relations. In 1998 he transferred to SYSCO's corporate office as director of safety and claims, again advancing through various managerial positions. He served as assistant vice president, safety and employee relations prior to being named group president for the strategy development group in 2005. He and his wife, Colleen, have four children. Mr. Kelso was born and raised in Seattle, Washington.

      Mr. Russell, 59, became associated with SYSCO in 1983 as controller of the company's Saginaw, Michigan operation. He progressed to vice president of finance in 1984 and was appointed president and chief operating officer of that company in 1986. He transferred to Sysco Food Services of Central Pennsylvania in 1995 as president and chief executive officer, then assumed responsibilities as president and chief executive officer of SYSCO's Metro New York operation in 2000. In 2005, he was named to his current position. Mr. Russell will become senior chairman of SYGMA in July until he transitions to retirement in October this year.

      SYSCO is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers that prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. For the calendar year 2006, the company generated $33.9 billion in sales. For more information about SYSCO visit www.sysco.com.

      The SYSCO Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=747

      CONTACT: SYSCO Corporation
      Toni R. Spigelmyer, Director, Media Relations
      (281) 584-1458

    • moving from rollup to innovator is like asking a leopard to grow stripes. once the buying and consolidation was over, this team believed it was time to clip dividends.

      you're right, needs a whole new team.

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