Pure 100% fluff. Talks about EVERYTHING except the white elephant in the room.
This guy is shameless, deluded, brazen, grandiose, and pathetic. The NICE thing about it is, as an investor, if you are sophisticated enough to read between the lines, you can tell, quite clearly, that the guy is totally rudderless, and the presentation of "chirpy confidence" that is Scozz's hallmark, is a contrivance, a mockery, and a sham. So you know that the stock is a huge gamble (although probably a worthy one, as a short term play, on any pull back to 80 cents or less, imho).
But eventually, the company is likely tomgo bankrupt, under Scozz's watch, since he doesn't seem capable of actually BUILDING a furniture company here. Rather, his only skill seems tombe managing decline...while remaining "chirpy" the whole way through.
This guy is a disingenuous embarrassment. do we have any basis to know whether, in his private mind or otherwise, he is facing reality? Does the stinking board care?
It is a shame what Ralph and his side kick Beth have done to trash companies like Lane and Broyhill. These two companies were profitable before Ralph began butchering them. When Ralph broke up the Lane divisions and sold the Office furniture division the business began heading south. Just when you thought it could not get any worst Beth would come up with another plan to let go more experience top level employees and replace them with lower paid inexperience employees. Now, Lane is struggling to produce quality recliners. During the market I sat in a two way high leg that was difficult to recline in and the arms would shake from left to right. If they had an uptick in business they definitely do not have the management staff nor the customer service employees that they had five years ago to handle the business.
I see where Cramer the other night was talking about furniture related stocks that have had a great 2012 (Leggett, Lazy Boy and several others) in his wind-up to a recommendation of Restoration Hardware. So if others' biz is so good, why isn't the FBN board doing its job by holding Ralph's feet to the fire? That's how it's supposed to work, isn't it? You know, corporate governance yada yada. Is there any reason to believe this board will ever do its job?
The board is psychologically and fiduciarily diseased. Imho. They feel "stuck" with Scozz. They are secretly afraid that to force a change now would trigger an avalanche of severence payments....and it would be too late for a new guy to save the company.
They are going to let Scozz take this ship down....unless somehow housing starts, or a potential sale of the company at, say, $2, provide an "out."