The important thing is not who is who.
The important thing is when in Jun/July Analysts like C L KING and Morgan Keegan had upgraded HBI and placed a call of outperform and strong buy, I had mentioned that it will be in single digits. People can verify.
Not trying to prove that I was right, however this itself is a proof of what is going on at HBI.
Now lets talk about figures.. IMO there are question marks about 600 million of IT spending with few Indian Outsourcing companies. I dont mind whoever makes money... but atleast think about the sharholders and employees.. Why is one employee removed and in turn the company pays for three contractors? Why doesnt HBI come out with figures of how much and how many IT contractors it has for whom it is paying in USA and India? The shareholders IMO do deserve this information.
Think about what could happen if the management had to announce that they are placing the SAP project on hold? Or the SAP implementation failed? What happens to all the money already spent? Why money is being given for maintaining legacy applications to one company? A total staff (on paper) of 65 people, doing nothing(In US and India) !
Somepeople may think that is Hanes a IT company that so much emphasis is given to that. How can it affect HBI stock price? Correct Hanes is not a IT company however IMO the root of every thing happening currently, is one IT contract outsourcing company. And how they have knitted the whole thing in a way that it affects the whole business, I will try to explain sometime shortly.
As someone rightly pointed, Rich will know one day cheap is not always cheap. (By the way, its not even cheap to do outsourcing at hanes !)
"Elephant", "eats" too much ! (hint lol)
And Hanes wont have the courage to cancel that contract with that Kerala (India) based company. Everything in my opinion of course..
Good luck and best wishes to all longs. (I too am a long, sold substantially when came to know about all this before few months)
I am quite sure Indians do work hard....just as many Americans, Brits, Aussies, Mexicans do.
The fact is, you do it for less.
You do it for less, because you live in a 3rd world country.
No need to play a violin for you or cry you a river.....you'd just bathe in it and wish there was a sitar wailing......
Don't buy HBI. I would not be surprised if they close the doors Christmas or sell out. But not before Rich & Keith gets the big Bonus. They have no orders that's why the mass layoffs. The last stateside plant (Eden) will go by Feb. Wait & see. No more made in USA for Hanes. I feel sorry for the ones left @ corp because their days are numbered also.
Oh yeah, I am sure that would get the SEC's attention. A spin off that shuts its doors after laying of thousands while its CEO collect huge bonuses (and CEO's ar ebeing watched VERY closely...have you not been reading or hearing the news?)
Not only would they forgo their bonuses with fines, they would end up in jail. Nice fairytale though.
Is HBI an Indian Company? I visited recently and found more Indians in the cafeteria than americans ! Or the Indians who come from Kerala just sit in cafeteria? It is such a shame that in America, americans are kicked off and Indians are brought in for sitting in Cafeteria ! And till americans do not speak against this, this will continue. For your information, few Indians with whom I talked, were proudly discussing how they came here, and how they are "keeping the outsourcing manager happy in the Indian Style" ! They seem to be working on tea stalls and lemonade stalls in kerala, and currently they are ruling HBI ! No doubt HBI stock is at low tens ! IMO ofcourse. Good luck to all shareholders.