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Oneida Ltd. (OCQ) Message Board

  • bobo21029 bobo21029 Jul 8, 1999 11:36 AM Flag

    Glad I bailed.....

    .......I was long 3000 sh, made a quick 40% and
    ran like hell.........the mgt at Oneida are
    fogbound........they have no idea what a hopeless position they're
    in.........the only prayer they've got is consolidate with LBY
    or another major player........I was in the tabletop
    industry for almost 30 years and IMHO the OCQ
    manufacturing facilities are antiquated and
    inefficient.......the BOD of OCQ is flattering themselves to think the
    company is worth more than $37.50.......those chumps are
    gonna be sellin' pencils on the street corner soon
    enough.......God help the diehard OCQ longs;because the OCQ
    mgt.sure as hell won't .....

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • All of you taking your shots at OCQ don't have a
      crystal ball and you really can't think the employee's
      lost out. How did you expect LBY to pay for this?
      Reducing the workforce and cutting benefits is the true
      way to pay for it and let me see I think that would
      have helped the employee's a great deal. The way I see
      this is that OCQ has been here for 100 plus years on
      it�s own and doing fine why mess with a good sound
      establishment?

      PS: So you know for the record LBY�s doesn�t have
      OCQ�s old CEO, he never was CEO.

      • 2 Replies to myviewss
      • Given the fact that foreign competition is
        increasing and becoming more and more aggressive in the
        expanding US market, I would say both LBY and OCQ employees
        are the losers.

        As it has been stated on this
        board many times:

        1) Making china and flatware
        isn't rocket science
        2) Making flatware is mostly
        over seas now with no hope of coming back
        3) New
        York is very expensive to do business in.

        If I
        were an employee I would rather work for a $1 billion
        dollar company that has a global scope and reach than a
        local enterprise which thinks it is global but is
        forced to cut, reduce and layoff to stay competitive.


        Both LBY and OCQ employees are the losers, not to
        mention the stockholders. At least most stock holders
        have sell options that they can excercise in a moments
        notice. The way the CNY economy is these days, I don't
        think the employees have the same luxury. There isn't
        much manufacturing left in CNY, and as the world wide
        squeeze gets made, there will be even less!

        So
        which is it? Grow and survive or shrivel 50 employees
        at a time? Where is the vision? At least LBY
        realizes that they can't do it alone. I have to wonder why
        OCQ feels they can do it all by themselves when they
        haven't been able to maintain what they have built
        (evidenced by the layoffs).

        Who lost? Everyone.

      • Employee's need to realize no matter who is in
        charge, we will be cut down to the bone. OCQ must cut to
        keep our stock up to fight off LBY. LBY is not out of
        the picture yet... As for Importing goods, OCQ does
        import. OCQ owns factories in Austrail (flatware), Mexico
        (flatware), and somewhere in China (I think)(holloware
        plant). OCQ imports glassware.. The question the
        employee's need to ponder is how long before almost all the
        flatware products are imported? LBY/OCQ what difference
        will it actual make in the long run??

    • I feel bad to think that your opinion of Oneida
      is that the hard working people there are a bunch of
      drunks. This is not so. They all work hard and you can
      not believe everything that you read on these boards.
      I don't usually write anything on the boards but I
      just had to give you my opinion. The people at Oneida
      do not deserve this type of nonsense.

    • The above information includes
      ``forward-looking'' statements as defined in the Private
      Securities
      Litigation Reform Act of 1995. Such statements only reflect
      the Company's best assessment at this
      time, and
      are indicated by words or phrases such as
      ``expects,'' ``believes,'' ``will,''
      ``estimates,''
      ``anticipates,'' or similar phrases.

      Investors are
      cautioned that forward-looking statements involve risks and
      uncertainty, that actual
      results may differ materially from
      such statements, and that investors should not place
      undue
      reliance on such statements.

      Important factors
      potentially affecting performance include devaluations and
      other major currency
      fluctuations relative to the
      U.S. dollar that could reduce the cost-competitiveness
      of the company's
      products compared to foreign
      competition; the effect of high inflation in Mexico and
      exchange rate
      changes to the value of the Mexican peso
      and the earnings and cash flow of the company's
      joint
      venture in Mexico, Vitrocrisa, expressed under U.S. GAAP;
      the inability to achieve savings and
      profit
      improvements at targeted levels in the company's glassware
      sales from its capacity
      realignment efforts and re-
      engineering programs, or within the intended time periods;
      inability to
      achieve targeted manufacturing efficiencies
      at Syracuse China and cost synergies between
      World
      Tableware and the company's other operations; significant
      increases in interest rates that increase
      the company's
      borrowing costs and per unit increases in the costs for
      natural gas, corrugated
      packaging, and other purchased
      materials; protracted work stoppages related to collective
      bargaining
      agreements; increased competition from foreign suppliers
      endeavoring to sell glass tableware in the
      United States;
      major slowdowns in the retail, travel or entertainment
      industries in the United States
      or Canada; and whether
      the company completes any significant acquisition,
      and whether such
      acquisitions can operate
      profitably.

      Libbey Inc.:
      is the largest producer
      of glass tableware in North America;
      is a
      leading producer of tabletop products for foodservice
      users;
      exports to more than 100 countries; and,

      provides technical assistance to glass tableware
      manufacturers around

      the world.

      Based in Toledo,
      Ohio, the company operates glass tableware
      manufacturing plants in California,
      Louisiana and Ohio. In
      addition, Libbey is a joint venture partner in the largest
      glass tableware
      company in Mexico. Through its
      Syracuse China subsidiary, the company designs,
      manufactures and
      distributes an extensive line of
      high-quality ceramic dinnerware, principally for
      foodservice
      establishments in the United States. Through its World Tableware
      subsidiary, the company imports
      and sells a full-line of
      metal flatware and holloware and an assortment of
      ceramic dinnerware and
      other tabletop items,
      principally for foodservice establishments in the United
      States. In 1998, its net
      sales totaled $436.5 million.


      SOURCE: Libbey Inc.

    • Well it seems that the big guns at OL are at it
      again. One guy has the smell of liquor on his breath so
      they fire him but turn their backs when OL employees
      come back from lunch quite inebriated. This is not
      something that has just started to happen. It has been
      going on for many years bosses included. But all of a
      sudden we are going to take one guy out. What an example
      of how things are done at OL. Start handing out
      breathalizers on the way back from lunch at the gate. See how
      many employees you can get rid of that way....

    • starting to form a healthy base. Gut feeling another buyer is lurking in the mean time its a good investment.

    • To everyone out there who thinks this is over and
      they can breath a sigh of relief......Don't. It is not
      over and I do not not believe Libbey is done. They
      said they were withdrawing their buyout offer. Does
      anyone know if they said they were not thinking about a
      takeover? This was too easy. I think everyone should be
      careful, and keep both eyes open. I also think we should
      keep our eyes on management. For them, this is back to
      business as usual and it is "business as usual" that got
      us where we are today! Now would be the time to
      start updating and modernizing but I don't see that
      happening either. Be careful and stay awake!!!!!! By the
      way, does anyone have any idea what the plans are for
      the Canada machinery that has been placed in the
      Holloware Pressroom? Are we going to start doing flatware
      in the Holloware building????? Just curious.

    • Well, I am an employee and I know nothing about a
      cost of living raise to start in November or any other
      time. Please let us know where you are getting your
      information. As a matter of fact, we are doing such a fine job
      that 11 jobs were cut on 3rd shift silver buff just
      last night, with more promised today on 1st and 2nd
      shift. I'm guessing this is not because of the fine job
      we are or are not doing. Funny we haven't heard from
      PK in a long time. And now we hear that our usual
      communications meeting scheduled for this coming Thursday has
      been canceled. Wonder why. Maybe there is some truth
      to the rumor about Newell. But there certainly is no
      truth to this rumor about a raise, at least not to the
      knowledge of the employees and I think we would know.

    • <EOM>

    • And what is the warehouse for? I can't imagine
      that the warehouse is being built here just to house
      all merchandise made in other countries. Now that
      would be real bad business. How does it make sense to
      build in a state with the highest taxes unless you
      already have other interests there? The doors have not
      closed yet. As far as the committee, we know they
      already have one, and we know that we are not on it. That
      would be what we are trying to change! And if they are
      planning to close the doors soon, wouldn't the plant
      itself make a nice warehouse, saving them millions? I
      don't have any answers, but your answers make
      absolutely no sense. Your "dope slap" is getting old, find
      another please! It wasn't funny the first time.

    • a bunch of drunks they call us.well tell that
      fool he can go stright to hell!!!!! we have been here
      over 100 years not too bad for a bunch of drunks.do I
      agree with every thing that has been going down no!!
      but the way to change it is to stay and fight for
      change not listening to bull sh-t

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