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Smith & Wesson Holding Corporation Message Board

  • wake1021 wake1021 Oct 28, 2010 11:48 AM Flag

    CFO quit...not a good sign

    Where are all the pumpers at...They will try and spin this positive.

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    • Just bought another 6500 shares at 3.74. Let the squeeze begin. One ounce of good news and this will shoot up 10% in a heart beat.

    • Pursuring an opportunity to go from a CFO to the President of your own company is not a sign of weakness. It usually is a good personal career decision.

    • I agree with above comments. How can a company with so many years in one business not maintain & improve on their operating margins. They are not "reinventing the wheel" with every new product. Gross margins are their #1 problem. They have lost their VP of Mfg, Ex VP/COO and their CEO/founder of the USR division in the past 4 months.

      Love their products...not the company!

    • Anyone who works for a large company and works closely with senior managment knows that a CFO joins a company not be a CFO but to become the next CEO. They are all ego maniacs and driven. It is not uncommon for a CFO to move on after a few years if they are clearly not the chosen one. In this case, he gets to feed his ego by being a CEO of his own company. Do not see this as positive or negative - just fact of the business world. These people are not motiviated by money but by pure ego.

    • Yes, I agree that this is announcement does not bode well for this iconic company, a company where hard working honest people produce an excellent product that is as American as baseball and apple pie.

      The resignation of the current CFO after only two years of service speaks volumes as to lack of confidence in the long term profitability of the company. Prior to Spengler, the financial leadership of S&W, or lack thereof, resulted in stock prices sinking faster than the Titanic. A chain reaction ensued which resulted in numerous outstanding shareholder lawsuits against management that continue to drag down profits as defense costs continue to be incurred. The more recent investigations of potential serious violations of the Foreign Corruption Policies Act are even more egregious. Then let us add to management's list of accomplishments the 2009 $57M goodwill write-off of Thompson Center Arms, (which I attribute to lack of proper due diligence), and the costly BATF violations and resulting settlements. What has been the real cost to shareholder value under current management? I'm thinking that Mr. Spengler has personally made an excellent decision to move on.

      Finally, given the announcement of the new interim financial leadership of company, it appears the Board of Directors has now placed the fox in charge of the hen house. When will the corporate malfeasance at Smith & Wesson end?

      For the record, I am not a shareholder and would not invest in a single dollar in the company with the current management in place. The opinions expressed above are purely my own.

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