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Cubic Corporation Message Board

  • earning05 earning05 Oct 27, 2008 4:32 PM Flag

    CUB going BANKRUPT...

    Looks like the end is about to happen.

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    • Their balance sheet is very solid!

      Don't know why anyone would think they are going backrupt!

    • Timberrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr!!!!

    • the end if happening now....see CUB fall hard to single digits! LOL!!!!!!!

    • yes I have heard that CUB will be in single digits due to gross incompetance in the defense unit in the Orlando area. This section of CUB is extremely mismanaged at all levels and will not be able to pull of the charade much longer. Reeks of EEC days. They should have fired all of the boobs from that era.

    • 8 years and counting.
      Dude get a life

    • I agree with CUB becoming a penny stock. They could be cooking the books.

    • The end is near for CUB. Watch for BK and below $1 in the next quarter.

    • Yeah right,thats why the govt. just awarded them a new contract,lets end this thread.

    • indeed my good man. I also have heard from my broker at Fellatio and Associates that CUB is about to enter bankruptcy due to creative accounting practices.

    • They were morally bankrupt long ago...

      Think before you invest in garbage...

      Oh yeah, check out the true history of this company:

      http://articles.latimes.com/1991-04-20/news/mn-108_1_ill-wind

      Former Cubic Chairman Is Sentenced
      By GREG JOHNSON, TIMES STAFF WRITER
      April 20, 1991

      SAN DIEGO — C.C. (Sam) Wellborn, the former chairman of Cubic Corp.'s Defense Systems subsidiary, was sentenced to 18 months in prison Friday for conspiring to bribe a Pentagon official in an attempt to win Defense Department contracts.

      The sentencing on two felony counts in U.S. District Court in Alexandria, Va., stemmed from the federal government's continuing Ill Wind investigation into Pentagon procurement fraud. Wellborn, 58, who also received two years' probation and a $15,000 fine, had faced a maximum sentence.
      For Wellborn, Friday's sentencing ended a nearly three-year odyssey that began in the summer of 1988, when agents from the Naval Investigative Service and the FBI searched his San Diego office for evidence of criminal wrongdoing.

      Investigators, who previously had tapped the longtime executive's telephone, seized a 6-inch stack of documents during their search.

      The investigation eventually uncovered evidence that Wellborn was illegally conspiring to obtain information that Cubic could use to bolster its chances of winning hotly contested contracts for "Top Gun" air combat training systems that the armed forces use to train flight crews.

      In 1989, Wellborn, who had been officially described as a "target" by Ill Wind investigators, abruptly ended his 32-year career with Cubic Corp. when he resigned as chairman of the Defense Systems subsidiary and as a senior vice president of the parent company.

      Cubic founder and Chairman Walter Zable at the time praised Wellborn for providing "32 years of dedicated service." Wellborn, Zable added, would be "sorely missed."

      Wellborn's involvement in Ill Wind astounded those who had worked with the longtime Cubic executive.

      The investigation "just seemed to be so far-fetched to me," said Raymond L. deKozan, chairman of Cubic's Automatic Revenue Collection Group. "Until the day that (Wellborn's plea bargain) came out in the paper, I always felt like it was a bad dream . . . that one day it would all be over and he would be exonerated."

      "It's awful hard for me to believe it because I always knew (Wellborn) as an honest man. . . . He always treated me and everyone around him nicely," said DeKozan, who has known Wellborn for about 20 years. The Ill Wind affair was "one incident that should be balanced against a lifetime of other things," DeKozan said.

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CUB
45.39+0.14(+0.31%)Aug 21 4:02 PMEDT

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