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Chiquita Brands International Inc. Message Board

  • money_money_more_money money_money_more_money Nov 29, 2011 4:36 PM Flag

    Relocation cost and benefit - what do you think ?

    They plan to spend 30-35M on relocation and expect to recieve abt 24M over 10 years and potential savings of additional $4M a year.

    Does it seem to be a good deal? Is it really worth the hassle?
    35M expense and about 5M return every year.

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    • No, I think it is a very poor deal. Their relocation costs will eat up most if any savings, and the disruption to the business and the 300 or so families involved will be absurd for very little, if any financial benefit. In my opinion, this move has nothing to do with savings, and everything to do with the CEO looking for a distraction and a place to hide a while longer. I was a long time on and off shareholder, skipped the bankruptcy and started trading again. I sold for good about a year after he arrived when I came to the conclusion that his management and leadership skills were not up to the task. I have to wonder what kind of(if any)due diligence the Board did before they hired him. His tenure has been a disaster for shareholders (not so bad for him, by the way, look at his compensation) The stock has dropped from $24 to today's close at $7.86. The Fresh Express acquisition has been a mess, consuming capital and providing little return. No, I do not own any and I'm not shorting it. I'm just delighted I don't have any money or time devoted tied up here. I don't know why anyone would own this stock.

    • who cares?? The bigger issue is the mess in Europe and a continued deterioration in the salad business...thats the more important piece that will get us to new all time lows...

      • 1 Reply to skiselev81
      • The Board at CQB is a dummy...FA runs the show...they wouldn't oppose him because they would loose their cushy job with big time$$$ salary.
        He decided to move not for the good of the company because as we all know relocations are very costly. Charlotte...more Spanish speaking individuals...are you kidding?....and why do they need more Spanish speaking individuals in their headquarters...again...just a sham...The A's are tired of living in Cincinnati and in the shadow of P& why not move??!!!