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II-VI Incorporated Message Board

  • davebugs davebugs Nov 6, 2013 7:31 AM Flag

    CFO resigns - PR this morning

    I can think of a lot of PR's that I'd rather read.

    Nothing specific to this fella. But CFO's resigning is rarely a good thing. Atleast he's sticking around a while.

    If IIVI takes the "cost containment" move of outsourcing IR - a favorite move by questionable companies I'll be selling all of my IIVI holdings. Because I've NEVER seen that end well - for shareholders.

    In the end this fella resigning may not be a negative. I just can't see it being a positive.

    And remember this was a billion dollar company on an aquisition spree(regardless of Carl claiming they aren't) so he has had a front row seat to what has been going on. And may continue to happen as long as they have a banker(s) to loan them money.

    Perhaps this fella actually spoke up at some point? I have no idea. But I'd like someone on the mgmt team to speak up at some point - PLEASE!!

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    • Dave,

      I do not understand what IIVI is doing. I wish you the best with your holdings, but today may be more bad.

      Steve

      • 1 Reply to steveh27
      • And they HAD to know about this less than a week ago at the annual meeting too IMO.

        IIVI is certainly changing. I have yet to see anything positive from the changes yet though.

        It had been such a terrific performer for so many years I'm slow to throw in the towel. Hoping they can find their way back to good profitability, little/no debt, etc.

        Hope isn't an investment thesis though.

        "scale in, scale out, online commissions are cheap" is a motto I've lived by.

        So while the stumbles over the past several years have hurt - it's all been house money for a long time for me.

        Had I never sold any, watched the company changes, and watched a bunch of profit evaporate - I'd be more upset.

        Truth is the was a great company at one time. The future isn't nearly as bright. And it's just not me. It's obvious investors are voting with their feet.

        If you find anything worthy of DD please post here, I"m always looking for new idea's.

 
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