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Furniture Brands International Inc. Message Board

  • sunnyvale_who sunnyvale_who Sep 21, 2012 4:10 PM Flag

    I'm here

    to help. I'm not here to start trouble. I post what I post to help others. Some of my comments have been taken out of context. If you read what I post and then reply with something completely off topic to counter my comment how is that productive? If you people really, honestly don't want me here I'll leave, no problem. I said in one of my comments the ground floor employess don't know the plans of the upper management. A response was that the ground floor employees know about the cos. , of course they do, but they don't know who's losing their jobs and what's being eliminated. I can answer most questions that people have. People were sent home due to changes at the factory, but they were NEVER told to file UE benefits, they knew it was for a couple days. What's going to happen in Oct. when a factory closes for 2 days for changes being made there? What kind of rumors will that create? FBN has to make some drastic changes, if they don't they will go out of business. They have plans, plans that should save this co. People say accountants know nothing about the furniture business. I have news for you, Mark knows the furniture business and he and a few others are consulted with on almost a daily basis. The accountants make the final decisions but they have input by very knowledgable employees. Mark has given a big part of his life to this co. and he will not let it get dismantled or have it shutdown without a fight. So many people will lose their jobs and most of those employees have some kind of financial investment in FBN, they will do what it takes to keep FBN in business. Some will lose their jobs, nothing can be done about that. The plan right now is to reduce the workforce by a small percentage. There are depts. with 40 employees that can be run very efficiently by 32 employees. Those are the changes that are going to have to happen. FBN would never be in this trouble to begin with if it was not wasting money for so many years. Their inhouse trucking is a perfected example of that. Look at what it costs to keep trucks on the road. You have to buy a permit for every state you drive through or into, Fuel, tires, oil changes, driver pay, insurance, major repais get very expensive, minor repairs can get expensive. A trucking co. is set up to make money with all those expenses but FBN should not have their own trucks. Henredon has their own trucks to do most of the big deliveries. A recent audit shows they could have paid a trucking co. for those deliveries at about 60% of what it costs them. Saving 40% is big, especially when you're talking about millions of dollars. These changes mat not be very popular with some of the employees but it should make the sh holders estatic. Long or short you have to admit they're trying very hard to save FBN. I know about some of the changes that are coming and I believe they are going to be fine. I honestly do. But then again, I'm just the sister of an upper management employee, What do I know? Good luck to all on here.

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    • One more thing I want to say. Don't misunderstand me, I'm not trying to say this co. is in good shape, it's not. It's in bad shape, their stock price will tell you that. FBN is a long way from being profiable, their a long way from not being in trouble. Their in very bad shape, but that should NOT be a reflection on current managemant The new CEO inherited a troubled co. A very troubled co. They will do what they have to do to change that. I'm confident and convinced. They had a chance to unload 3 of their brands but they would rather make it work intact or atleast almost intact. I do believe one brand is on it's way out. That would actually be for the better though.

 

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