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McDermott International Inc. Message Board

  • lexicfo lexicfo Aug 10, 2013 7:53 AM Flag

    The board needs new blood

    Literally, the "lead" director is over 70 and is a retired tax accountant who sleepy Cooper Industries made CFO. During his CFO tenure at Cooper (eight years) the stock was up about $2 or 10%. Nice growth! The whole group looks like a scene from the Sunshine Boys...

    With 98% institutional ownership, these shareholders need to become more active. Some of them may not be able to own the stock below $5, so if we get close to that, look for some big selling and a 50% haircut from here!

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    • I agree, there is more than meets the eye here. I am thinking about the meaning of the spin off, or break up of MDR and BWC (BWS?). At that time, I figured there would be one loser and one winner, and so far MDR has been the loser. BWC has gone up in share price from that point, and MDR...well.

      Who IS active on the board? Was the spin-off a strategic move to separate the brains and strength from the cumbersome operations...operations which may be antiquated and inefficient? Has land fracking been unleashed as a way to support demand during current administration's war on offshore drilling?

      MDR has worldwide capabilities, and is certainly a great brand name with lots of experience and firepower and cash. They are strong, but need to be a bit leaner and meaner. And YES, that can only be done by some aggressive changes within the company, and it's leadership. This will give confidence to investors, who don't like the bleeding that is apparent right now.

5.24+0.07(+1.35%)Aug 26 4:02 PMEDT