PWER Furloughing Workers? Power Solutions continues to fall? Is Renewable next?
I heard that the Power Solution's BU of PWER is doing so poorly that they have actually furloughed all workers the entire President's week holiday? Can anyone confirm? I have also heard that the SOLAR BU of PWER has also furloughed all workers for one week during Q113? Can others confirm? If these furloughs are in fact happening, things must really be softening at PWER vs. their competition?
Wow, thank you all for your input! You seem to be confirming that things have taken a drastic turn for the worse within the Power Solutions BU. I know that many of you believe that the RE/SOLAR BU drives the bulk of the stock price but it really shouldn't be that one sided. If Power Solutions were actually growing within their respective market rather than collapsing, wouldn't PWER be a stronger more attractive investment?
Agree, I read Hogge the President came from Cooper Bussman from press release. He seems to be the one that should be answering tough questions along with his top staff. Where have all the sales losses come from? I see only a couple of niche product announcements. This whole division seems to be floundering.
I can confirm that the Power BU is forcing a week furlough. Is you look at the last 6 qtrs. or more their performance is terrible. They are down qtr to qtr and year over year. This BU at one time was more than $400m I think. They lost $40m yr to yr 2011 to 2012 and another $22m from 2011 to 2012 per the reports. Can not find where they broke it out by BU before that. That is reduced sales of $62m the last two years. Why are those Executives not being held accountable.
Simply because Thompson is focused on the Solar BU. The clowns running power will never get it back to where it was because they are not capable. They still don't get it but who cares anyway. The Solar BU drives the stock not the Power BU.