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The Manitowoc Company, Inc. Message Board

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  • burgersboat burgersboat Oct 15, 2002 6:11 AM Flag

    Dividend -- Hey Burger any comments?

    he better hang onto his $$$$$'s ,,,,Attourneys are expensive..
    I'm not saying anything, because I live in the Same town as he does & I know him,but someone is going to turn him & this hole mess into the SEC!!!

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    • Wow, you guys are confirmed small picture, short termers. You expect a big divident this year. It has beena tough year all around -- the entire economy is slumping. MTW's shares have not "fallen off a cliff" any worse than most stocks, especially in this industry.

      The Potain and Grove acquisitions ARE the ticket to significant growth, but it will take cash on hand to pay off the debt and to complete integration. The timing of this down turn in our national economy is unfortunate, but I would MUCH rather have the company secure its long term outlook with respect to these purchases that pay high dividends. That will come in the years to follow.

      But if you guys are convinced that management is out to screw the shareholders, why in the world are you still holding on to this stock?

      • 1 Reply to stokkpikk
      • Okay, that's it!! Look stokk if you want to continue to support the current management then okay, obviously it is your perogative. However, stop utilizing the long term investment arguement. Personally, I have owned 1,000's of shares since 1972. Our family has owned shares since they were first issued. This is not "bragging" this is just outlining my frame of reference as to what as you say is a long term investor. Since Growcocks tenure MTW has regressed. Look at industry figures(yahoo is as good as any place to look) and you will see that MTW is well below the industry number albeit ahead of certain sectors. You are correct, MTW needs cash after all they over leveraged them self on a bankrupt company, as well as paying 10 1/2% on bonds. Growcock convinced the board to purchase a bankrupt company by telling them his management could and will turn in around -- we shall see. Paying a dividend of 60 to 75 cents is not as you refer to it as a high dividend, when you consider it less than 30% pay out. Again, if we utilize your arguement that Berger and I are not long term investors I ask you rhtorically what do you call Growcock?? Mangement is not intentionally out to as you say "screw" the shareholders. I said it before and I will repeat it here. Mr Growcock may be a very "nice" gentlemen. However, as I watch what he is doing to this great little company I am bewildered that the board has gone along with his plans for "world domination". Why do we still own the company because WE are still one of the very few true family members remaining -- Mr. Rankin is the only true family member remaining on the board. Growcock track record is not very good. Let's see if I purchased 3,000 worth of MTW in 1998 today it would be worth 3700. You tell me if 4 years is enough time to judge Growcock. Look for Growcock to be gone within the next 18 months.

 
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