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Chicago Rivet & Machine Co. Message Board

  • jrn69panther jrn69panther Mar 19, 2009 11:08 PM Flag

    Numbers released today

    ---dismal sales and dismal earnings in a dismal auto business going nowhere.---And couple that with a management that releases numbers with nothing to say in the PR. That folks is called "shareholder unfriendly" to the nth degree. Think they give a dam about the small shareholder? Think again!

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    • The 10k report came out yesterday with the full details. As they commented, the worst case scenario has come about. The numbers are bad, but even worse is you read the report and get no sense that there is hope for improvement or that there is a change in Company strategy to move into more profitable product lines or other businesses.
      Also, why are inventories of raw materials and work in progress higher than last year when sales are 35% lower?
      This is why the stock sells at a steep discount to net working capital.
      Will someone please come in and liquidate this Company before all the cash is gone!

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