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Saucony, Inc. (SCNYA) Message Board

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  • kretchmard kretchmard Jun 9, 2000 8:48 AM Flag

    Salvage...

    I bought this stock in 92, after Consumer's
    Reports recomendation made their products fly off of the
    store shelves.

    Then the brilliant management
    decided to change the design of their product, and kick
    CU in the teeth by referring to them in expensive
    advertising that resulted in a lawsuit from CU.


    Management settled (I don't know how much it cost them other
    than the goodwill of CU).

    Instead of sticking
    to their lasts, management ventured into other areas
    where they were too small to compete successfully. They
    turned profits into losses. Few stores in my area (St.
    Louis) even carry their shoes anymore.

    When you
    buy a company you are buying that company's
    management. Unfortunately, this company's management has
    negative value, as they are skilled mostly in ripping off
    stockholders and maintaining their own power.

    Over the
    past 8 years they have proven this over and over. They
    only chance this stock has to take off is for a new
    bunch of fools with fresh money to buy in when a "head
    fake" in earning makes it look like things are heading
    skyward. I am sorry for those of you who bought in the
    teen and higher recently. Your only benefit will be a
    tax loss (unless you bought in a tax-deferred
    account).

    Sign me,

    Sadder but wiser