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The Brink's Company Message Board

  • ex_dan_man ex_dan_man May 31, 2000 11:17 PM Flag

    PZB 401K decline Blues

    I've found the situation at BAX as depicted on
    this board very interesting. The most relevent comment
    was from the writer who said he wasnt sure who was
    really in charge. I know who is in charge.

    Your
    management is irrelevant, Dan is the man, look to him. He
    calls every shot, but takes no blame. We all should be
    looking to him, where was the stock when he took over.


    Will the board wise up before it is to late and there
    is nothing left.

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    • If you research the press releases a majority of
      the Board has been appointed by Mr. Dan. This is a
      savvy political move to protect oneself from an
      internal competitor making a move for the
      throne.

      I'd be interested to hear confidence levels in the
      executive structure of the subsidiaries. Is there enough
      talent in place to effect change?

      • 1 Reply to gone_fishn_us
      • I dont have first hand knowledge of the other
        companies but the pattern, based on the messages on this
        board, seem similar to my experience at Brinks.


        Although Dan is prone to being overly intrigued by
        financial people with no P&L experience or leadership
        skills, (he is convinced that with his special tutelage
        he can transform them into Presidential material) he
        recruits an occasional respectable resume. He dosnt let
        them do the job, however, in a manner youd expect of
        the senior exec running a large division of a
        diversified public company.

        Rather then let them
        assess, develope a plan, present and implement. He tells
        them what the issues are and directs their every move.


        I dont believe proven, able, creative executives
        could or would work for him for long.

        There
        seems to have have been an unusually high turnover of
        long serving, respected, proven senior managers from
        all companies since Dan took over. The board is
        either disinterested, unconcerned or unaware. I dont
        know which is worse.

        There is no internal
        threat in my opinion.

    • having dinner with Elvis tonight

    • Sorry, couldn't work the, "Allow me to retort"
      line in there, but excellent choice of movies when
      going to work on someone, but I digress...

      Now,
      I can understand that there are numerous ex-BAX'ers
      out there that are upset by the way the stock is
      performing. I have enjoyed an approximately 100% loss in my
      stock value since I left the company in '98. The main
      reasons for the stock loss are numerous. None of them
      though have solely to do with individuals with MBA's.
      Sorry to say it, many people complaining about the
      stock's performance are not looking at the real problems.
      Sure BAX blew big bucks on consultants with no
      results, but it's not the first foolish mistake they have
      made, nor the last.

      My answer (and yes, I am an
      ex-employee who will begin studying for an MBA in the fall)
      is to split the company into it's different
      divisions. I suggest that Burlington Air Export (sorry, but
      it is a hold-over from days past,) Burlington
      Domestic, and Burlington Ocean Services all be split to
      deal on their own. Let's face it, many touch on the
      answer, but few are willing to follow through.


      Certainly, there are too many layers in management, but that
      is a result of a grossly oversized colossus, and not
      KPMG, Anderson, or any of the other consultants out
      there. It is a direct result of BAX losing the hunger to
      maintain profitability instead of "larger for larger's
      sake."

      And yes, I do agree with some that sales gets treated
      like dogs there - just like at every other forwarder.
      Yes, I understand that sales should be paid on
      schedule instead of having to fight with management for a
      commission check. The only retort to sales' whining (and
      yeah, I have some brie for you out there in the field)
      is to take a look at Ocean. Take a long hard look at
      them.

      B.O.S. increased from less than 1% of total gross
      revenue, to a substantial portion of revenue, and profit
      with little (no if you want me to be completely
      honest) help from sales. How was it done? By B.O.S.
      treating themselves like a small forwarder and calling
      customers back to follow up on rates and service. Managers
      calling on customers, developing business does a lot more
      than a sales rep doin the same thing. Serving the
      customer well is more important than if someone saves
      $5.00 versus Fritz, Circle, EI, or any of the rest of
      them. Sure, a customer may try another forwarder, but
      they will keep going back to the forwarder that gets
      it done from A-Z every day.

      I hate to ramble,
      but BAX is involved in a service industry, but the
      service portion seems to be missing from everyone's
      answer. The rate w40735 (can I write the complete word on
      Yahoo?) are the same one that will sell you down the
      street to the competition and those seem to be the ones
      BAX goes for. That is the real reason freight revenue
      and profit is down.

      Oh, and if any of you
      want to fight about it, I'll be out back, by the
      Sealand Container around three :-) Take it easy everyone.

    • It is nice to see opposing points of view. There
      are always two sides to every story. One
      uncontestable fact is; too much corportate structure. There are
      indeed too many engineers,and "support" staff, way too
      many people counting, and not selling. Instead of
      astronomically expense cost cutting activities, how about
      selling something, or giving your people the ability, and
      thirst to go sell something. Zero or slow growth creates
      a blood thirsty back stabbing atmosphere(evidence
      to this is the postings on this board). BAX people
      are still good, they just need direction, and a
      little taste of success. It isn't much fun watching
      corporate profits sink as new engineers(Useless MBAs) are
      brought in at high salaries(see Monster.com) and Eagle,
      Expeditors, etc.. keep growing, hiring and kicking green
      ass!!

      Stock value is still producing only bottom feeding
      nibbles, not good for long term health.

    • Let's be forward thinking from now on.

      You
      missed the point - it is the magnitude of the misques by
      Pittston leadership that destroyed BAX. Not saying that
      the "E" team was perfect, but they certainly did get
      blamed for a mess that was created beyond their control.
      Your points of citicism are very weak. I bet you used
      to be a "kiss up" to the previous team ?

      I
      am a buyer of PZB under $10 -

      Hope you can
      take it to $20 by year-end so I can hit a double
      :)

      Good luck to you and your friends left @
      BAX.

      p.s. keep us posted on your success - we will be
      watching

    • Interesting attack.

      In the words of one
      of my favorite actors, Samuel L Jackson,: "Oh you
      are done. Well then allow me to retort."

      Yes
      Yes Yes
      Farrell and Roglanio made severe
      mistakes, not the least of which was hiring KPMG. I need no
      history lesson, I have lived through it for many years.
      As a colleague and I posted that last message, we
      had a bet that someone would blame everything posted
      on Pittston, Rogliano and Farrell. We both won. The
      guys were flat out arrogant and wrong about many
      things. I agree with you. I also make no excuses for
      Cbob. He is gone and not even a memory. He was not 100%
      wrong though. Maybe 85%, but not 100. And he did hire a
      few industry experienced
      people.

      Unfortunately, you still continue with the "poor us attitude, we
      get all the blame" (the E team). You indicate that
      the shareholders and employees who read the board
      deserve to know the truth. What makes you think they do
      not know the truth? Because the sewing circle you are
      connected to has all this dirt on the current and former
      regimes makes you think it is all true or believed????
      Why not just write a book.

      Also, you continue
      to talk like the E team walked on water and did
      everything right and got no credit. Waah and Puhlease! The E
      must stand for Ewe, because it was a regime of sheep
      that according to you had all these bad decisions
      forced upon them by a big bad Pittston in sheep
      clothing. I liked Dennis, but let's be honest. He had no
      real charisma and there was also a real old boy
      network under his watch. So stop making it something it
      is not. I also personally experienced two major
      screwups where customers sent correspondence to Dennis and
      got what, you ask, back? A big nothing. That's
      respected leadership?

      It is also very arrogant of
      you to say that all the managers that made the
      company great are gone. You are sorely mistaken. There
      are many exceptional ones left!!! Furthermore, I
      can't think of but maybe one or two that the company
      needs back. The ones that remain have the courage to
      embrace the change that lies ahead. How can you honestly
      say with a straight face that the E team had the
      company positioned well for the future. Yes, they had
      their moments, but there was never any magic coming
      down from the E mountain I can assure everyone of
      that.

      How about this for a suggestion. You
      obviously have bitterness in your heart, but why not GET
      OVER IT!!!! The company still has positives, it still
      has good people, it still has spirit. It still has a
      great culture. It is bigger than any of us. It has
      moved on without you. These are indeed scary times for
      many of us. You think we do not know that. You are
      dead wrong! We are doing the best we can under
      difficult circumstances. You can keep armchair
      quarterbacking all you want, but your endless crying and
      rambling about spilled milk, lost credit, and finger
      pointing really does nobody any good. I repeat from my
      last message, the prior regime had it's shot. It
      missed. Get over it.

      What do you say? Can we all
      move forward now? Can you take your eyes out of the
      rearview mirror? Can you show some of the class you claim
      to have had in years gone by? Can you support the
      good folks that are left trying to make a rough
      situation better. We've each had our say now. Where else
      can we go from here except forward?

      History
      Bax01....

      Proving once again that the truth does
      hurt.


      L H T Y

    • on the road to ruin.

      THE SHAREHOLDERS AND
      EMPLOYEES WHO READ THIS BOARD NEED AND DESERVE TO KNOW THE
      TRUTH.

      Unfortunately, the former BAX management team got blamed. This
      former management team, for years led BAX to very
      healthy profits and well positioned for the future; until
      KPMG ( $150+ million systems/consulting debacle)
      sucked the life out of this once great company. IN
      addition, Farrell placed a COAL MINER buddy in charge of
      running the BAX fleet, which was a complete
      fiasco.

      CBob basically brought in a bunch of his buddies who
      had no experience in the industry to lead BAX; and
      ran off every manager the made BAX great for many
      years.

      The amount of overhead added to the BAX
      corporate office is astounding, particularly with no
      visible return on such. In addition, the impact to
      service from CBob's team is and will be devistating. They
      are cutting the service cost and adding overhead. Not
      a formula that a low-margin service business can
      withstand.

      YES CBob and company contributed greatly to further
      BAX demise.

      Employees, shareholders, and
      analysts had a very high degree of respect for the " E"
      team, not only for their results, but for their
      unselfish dedication to preserving a once great
      culture.

      You ( baxblood) obviously need a history lesson, and
      should do a little homework before posting erroneous
      messages.

    • The Ex Bax folks on this board are side
      splitting. Sincerely! I especially loved the message saying
      to bring back Eittreim, Havely, Beining, Erickson Et
      Al at whatever cost. Are you kidding me?? Aren't
      these the characters that originally drove the company
      into the mud?? I know it is convenient to blame CBob
      and his gang of mighty men, but cmon. By the way, it
      was time for CBob to go, but he did bring in some
      good with his bad. The only good years Eittreim had
      were influenced by a truck strike and a UPS strike.
      When did he ever achieve plan? Blame Pittston and the
      plan you say. Interesting.

      I have met Joey. He
      has worked at many levels of the organizations he has
      been at and he is indeed a dynamic man. He knows the
      struggles the company faces at all levels and he has the
      sack to change things. Give him a chance. The pants
      dropping at every sign of trouble during the Eittreim
      years was not pretty and it is understandable why Bax
      now fights an uphill battle to get out of the mud. I
      know the line. It wasn't Eittreim's fault. Blame
      Pittston. Plenty of blame to be handed out, but who is
      looking in the mirror. Lots of stones thrown by folks in
      their glass houses.

      As a Bax employee of many
      years, I can safely say this. It is a good company with
      good people. Some of the finest I have known and had
      the pleasure to work with in my semi young life. The
      sadness is that I respected many of these folks posting
      the negativity here.I know who some of you are and it
      is sad. Those who are gone who could not handle the
      change of their Utopia. Those who choose to demean it
      who had their shot and missed. Those who were pushed
      aside for their inability to accept change, and if you
      still have stock, you make even less sense. Give the
      new regime a chance and get over it. Slam me if you
      wish, but deep down you know the truth hurts! More
      thoughts on company direction later, but their are reasons
      for encouragement.


      L H

    • it was, is and will continue to be a great
      company. From what I hear it now has a charismatic leader
      who will give it back any lost edge that it may have
      lost recently.

      Ex BAX people, give Mr. Carnes a
      chance. I am sure that he will make the
      difference.

      Go for it BAX people, you get it done!

      I off
      now to sunnier climes. This is the last message from
      Onra37.

    • that if Mr. Haverly gives any thoughts to BAX, they are the same thoughts that the rest of the exgreenbloods have,"Thanks be to God that I do not have to put up with this foolishness anymore"!

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