Does anyone know the reason behind the recent steep decline in this stock price? I don't see the cause. Am I missing something, or is it just sympathy for the retail sector?
Could you please put a new photo up but perhaps something a little more risque. I have canvassed the other posters on this board and they are in favor of seeing you in a low cut little number displaying a little cleavage. I'm sure your co-workers in A/P would also appreciate this.
Watchin, if you're still out there perhaps you could do the same and the board memebers could give you both marks out of ten. What do you say?
Actually, a few months ago I would agree with your first point, because I am very logical by nature. My paradigm shifted as I saw the effects of what happened to my previous employer before and after VF purchased them and the philosophy of my current employer. I work for a company who does not focus on being operationally excellent, but rather customer service excellent and sales driven. We could easily save significant $$$ by implementing cost savings measures, but at this point choose not to. We are a job shop and do not limit the work we take in, but rather figure out a way to get it done. My former employer was the same in that it had customers of all sizes prior to VF. The company was successful and was able to make $$. VF is operationally focused in attempting to standardize systems and procedures. They want to sell to high volume customers and eliminate the small customers. This reduces the variability of the work that needs done to service their few customers. It's an entirely different way to do business. You can make $$ either way.
VF is choosing to grow by acquiring companies and transforming them into their mold. It's their business process or mode of doing business. I don't buy the statement that they are implementing cost-cutting measures "after everyone else." Perhaps in the manufacturing of product, but they are achieving economies of scale by spreading their back office costs over a larger scale of businesses. The smaller companies' management is absorbed into VF. Computer systems and support, etc. all get placed under the VF umbrella.
Perhaps VF is making money doing business their way, but the impact is much broader than what appears on the surface.
Let me ask you a "logical" question - If you owned your own company and were faced with the fact that if you did not implement cost-cutting measures, you would lose SIGNIFICANT profits and would quickly reduce your competitiveness, and long-term would run the risk of losing your company, what would you do?
Please do note that VF is noted for making these cost-cutting measures "after everyone else" due to the fact that they follow the philosophy of doing so as LAST RESORT only.
Let's be realistic and leave our emotions/frustrations out of the debate and concentrate on real, economic facts....
Thank you for your message....I never really had a reference about the impact of a global economy until I worked for VF. It's sad to see the lives torn apart due to the corporate greed that exists in our country. We used to have a nice sized factory-type work force making a very good wage / living until VF bought my former company and stripped us apart. The labor part of our business ended up in Asia for 1/10th of the cost.
I knew it made sense dollar-wise, but given the extent this happens across our country, is this good for the USA? Factory work is disappearing. A family used to be able to survive on the income of one family member who most likely worked for a manufacturing facility. Now the mother & father must work to make ends meet. Many times both are working for just above min. wage.
What do these Asian countries offer that we don't have in the US? Cheaper labor. I could understand if we were talking about a natural resource that is not available in the US, but most of the time we are talking about labor and the ability to make products cheaper due to the lower cost of the labor component.
Economically speaking, maybe in the long term things will be better for us in the US. However, VF closed several plants in our area which is already economically depressed. We're talking about 1-2% of the work force.
I know the politicians will talk about developing other economies, etc., etc., etc. Unfortunately, I don't think we're getting this increased volume of business as they anticipated.
Thanks for letting me vent. I was fortunate to leave before the bloodletting got really bad, but I feel bad for my friends who remain.
At last someone who's intrest in VFC isn't limited to "what's the stock price?" Sorry stock snobs, but since US companies are no longer expanding at home, all that money you have tied up in stock and MM has in his sock drawer is largely static, and no longer part of the dollar force that drives the economy.
You see, that workforce Macky is so eager to get rid of is really the "consumption force".
As more and more employees from US companies lose their jobs,consumption will continue to slow. Resulting in more and more job loses.
In the end, corporate greed, and a corupt congress will have eliminated the desposable income that drives the economy. Your stock won't be worth the paper it's printed on, and since every payroll dollar will be commited to obtaining food, fuel, and shelter, It really won't matter how much VF pays for labor.