Navistar is out to bankrupt all of its investors and themselves, how else can you explain a company like NAV not being able to put a F'n engine together to reduce emissions.
Prisoners incarcerated are more ingenious then the ENGINEERS of NAVISTAR, I doubt it which makes one think the DUMB F MANAGEMENT OF NAVISTAR has handcuffed their own R&D department. MUST be a conspiracy? or is MANAGEMENT headed by these 4 DUMB F have to that RETARDED.
Daniel C. Ustian Chairman of the Board, President, Chief Executive Officer Andrew J. Cederoth Chief Financial Officer, Executive Vice President Jack J. Allen President - North America Truck and Parts Troy A. Clarke President - Truck and Engine
Somebody should be getting fired and the others should be loosing bonuses for the next 3 years since investors have been choking on the BS you have been feeding them.
Daniel and Andrew great job on pounding the pps to near disastrous lows again.
It is time for one or both of you to retire and let someone who actually gives a F about running the company operate it.
Next time you can just wear a ski mask and enter my home and pistol whip and take my money.
Cheers you DUMB F's. (actually the investors are the Dumb F, where is that proxy?)
I don't disagree with you that bankruptcy is a distinct possibility at this point.
However, don't go blaming the engineers for not being able to produce the engine. It was all Ustian - go read the Forbes Death by Hubris article.
It was a high risk, swing for the fences type of engine. It makes sense to a non-engineer like myself, however, the technical intricacies and difficulties in getting something revolutionary like Ustian was shooting for was clearly overwhelming. If you're trying to do something ground-breaking, you really shouldn't attempt it while an hourglass is counting down.
Regardless of the outcome of the engine at this point, whether they do eventually come up with the breakthrough, or they slap together a more standard solution, I think it's damaged goods. The breakthrough will not happen within the needed timeframe, and if they do slap together a more standard solution, they will have to sell it below the cost of competitors - because it is new, has to prove itself, and considering the history and timeline of events, who is really going to want it?
Couple all of the events with the massive debt load, the ridiculous guidance previously given ($5 to $8 EPS in 2nd half of 2012 - even laughable at the time the words were spoken) - who really wants to own this company/stock? More likely, losses will be posted the remainder of the year.
All the big buyers of the stock - they will lose their butts. But, you know Icahn does have experience with this - he purchased Federal Mogul shares all the way down to bankruptcy as well. Looks like it will be a repeat (unwanted) headache for him.
Revolutionary? It was like trying to use carburetors to hit the standards for gasoline engines, 20 years ago.
All the aforementioned need to go, but attracting someone competent nd trustworthy to take the helm of the Titanic, post-iceberg, will be exceedingly difficult. Resumes of NAV employees are flooding the search firms, and by the time this useless Board wakes up, there will be nothing left to salvage.
I vote for Ustian over McCardell for Worst NAV/IHC CEO of all time. At least Archie, God rest his soul, was trying to do the right thing, for the right reasons. He was just a few years too early, and didn't have the liquidity to pull it off.