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Chiquita Brands International Inc. Message Board

  • Feckman Feckman May 3, 2000 8:05 AM Flag

    increase in ownership

    I see the sec filing you mention.
    You have to
    wonder why anyone would pile more
    money into this
    pos. But picking up over
    1/2 million shares aint
    banana pudding.
    Maybe there will be a little bump in
    share
    price with just a little speculation about
    where cqb
    may be headed.

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    • have you seen Buck under a palm tree in hotel
      Tamarindo, spending his money he made on Dole.
      I see a
      light in the EU chunnel, CQB was offered an increase of
      70% on EU import rights, but they want more. Steve is
      playing it hard and want more than 100%. He has to
      understand that no EU officer will back him.

    • Give me a break. You think I based my safe haven
      statement on one days trading? I was talking about food
      stocks in general and CQB has held up well whenever the
      recent sell-offs have occurred. I think CQB has bottomed
      out and is going to move up from here.

      As far
      as the analyst's earnings forecast look at
      morningstar's earnings estimates on the stock. They are the
      best I know of at being current and updating their
      info. The estimate was raised before earnings release
      but has not been modified downward since.

    • CQB=safe haven
      To take this one days trading
      results and
      conclude that cqb is a safe haven for
      anyones
      investment $$$ is at best a huge leap in logic.
      9 years
      is a good amount of time to overcome
      the problems
      presented to the cqb management
      don't you think?

    • morning.

      should have been 1/16 up, not
      down. so the spread today was actually bigger than
      .8%.

      I still say that it's the upside opportunity cost
      that is more important at this point.

      however,
      if you feel that the stock is goint to 8 by years
      end, then best of luck to you.

    • mikey wrote:

      As for a "safe haven" stock
      look what happened today (Wednesday 5/3), dow down 250
      and CQB up 1/16 along with many other food stocks.
      People gotta eat. "

      well, 250 points down from
      10,600 is roughly 2.3% decline, 1/16 down from 4 1/8 is
      a 1.5% decline. So yes, you did better than the
      market on one day of .8%. The risk for you is that the
      Dow (made up of 30 nice generally healthy stocks) has
      a greater upside potential than CQB does), and
      their past performance is better also. I'd also be
      willing to say that the balance sheets for the dow 30 are
      a tad stronger than CQB's also.

      Yep, people
      gotta eat. However, they don't have to eat bananas, and
      they don't have to pay a premium price for it as long
      as their is an over supply in (any) market. Since
      the EU is regulated by volume, guess where that
      oversupply goes? The US market. Also, the end consumer may
      not be too eager to pay a price to cover the
      increased costs of fuel and petroleum based raw materials
      that are necessary for banana production and
      marketing.

      Also, while retailers will continue to stock
      bananas, they are reluctant to pay higher prices for them,
      and as we come into the summer months there are
      plenty of other plentiful products (summer fruits, etc)
      to fill the shelves and thus reduce demand for
      bananas.

    • not picking on you, just discussing the points
      you brought up.

      Couple of flaws in your
      logic:

      1) you said "Look at other successful companies with
      comparable revenues and debt". The debt issue isn't a
      current problem, but it is a problem in the near future,
      as those maturities aren't due within 12 months.
      However, given current cash flow, etc, the principal WILL
      be a problem unless something changes. And I'm sure
      you meant to say "look at other companies with
      comparable revenues and debt that are successful", which
      wouldn't imply that CQB was successful with its current
      rev and debt.

      2) Yes, Tio Carl bought shares
      last year, but none of his underlings did. To me that
      is a sure sign that nothing is happening anytime
      soon. Honestly I think Carl thought he had a resolution
      on the EU thing, and thus thought he had an
      opportunity. When Steve W. and Bob K. buy in with a boatload
      of their hard earned cash, then talk to me about
      insider buying.

      3) If the stock is such a bargain,
      why has their been no stock buy back from the
      company. (I know it would look bad with the common
      dividend now being suspended, but prior to that???
      )

      4) As for the analyst that you mentioned, (I'm not
      sure here, so don't take this as gospel) I think that
      is McMillan who hasn't wavered on this stock since
      it was trading in the mid 30's. As for an updated
      earnings estimate in last 60 days, I'm not sure, but I
      would be willing to bet that the last recommendation he
      made HAD to be before Q1 was announced.

      5) I'm
      sure Carl prefers to make money rather than lose it.
      I'm just not sure he cares about whether YOU make
      money or lose it. Therefore, any action he takes will
      be for his best interest and not the best interest
      of the shareholders. The last 9 years should be good
      evidence that there is no active concern for shareholder
      value at CQB.

    • cqbholder,

      I know you're going to bring up
      CQB's debt. I'm well aware of it but not to worry. Look
      at other successful companies with comparable
      revenues and debt. You'll find CQB is not unique and their
      debt is very manageable given "normal" profitable
      years.

      Another tidbit, uncle Karl bought 1 mil. shares last year
      at about $10. He also only paid himself $40,000 in
      compensation this past year.
      I still think he prefers
      making money to losing it.

    • Are you Costa Rican? I love CR, great place. I
      have lots of friends there.

      As for the earnings
      I quoted, the one analyst that still covers CQB
      raised his estimate from 57 cents within the last 60
      days to 75 cents for this year and $1.25 for 2001. He
      still has a strong buy on our stock. I'm sure you're
      very informed and I mean no offense but usually
      analysts that follow companies have access to information
      we don't. CQB will be between $8 and $10 by year end
      and will double again next year unless there is
      another major catastrophe.
      As for a "safe haven"
      stock look what happened today, dow down 250 and CQB up
      1/16 along with many other food stocks. People gotta
      eat.
      The only risk to this stock is if they went
      bankrupt. Won't happen, $750 mil. in assets and $240 mil.
      market cap. The more likely scenario is a
      buyout.

      Just my humble opinions.

      Let's work on bananas
      for skin creams or something. What happened to CQB
      marketing?

    • idiot, begging for attention, or a certified
      idiot in need of a conservator to salvage what might be
      left of your prior fortune.

      1.2MM at average
      $15 is roughtly 80,000 shares (not
      exact).

      there is no way in hell you own that much.

    • Canned foods is a shrinking category. CQB is
      involved in the least profitable segment - private label.
      This is a capital intensive, high inventory, low
      margin, shrinking category. But compared to their other
      businesses, it at least breaks even (for
      now).

      cqbholder, you are correct. The fact that CQB only earned
      $0.43 in Q1 means they will lose money for the year.
      The euro is setting record lows every day. Lots of
      excuses for Q2 perfomance.

      You're right about
      capital replacement. And as I have pointed out, CQB is
      aggressive in their depreciation schedules for ships and
      containers. This could mean write-offs in future years as
      this equipment becomes obsolete or has prohibitive
      maintenance costs. Lewis/Galindo team are like a couple of
      buzzards just waiting for some road kill.

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