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ConAgra Foods, Inc. Message Board

  • matollionequay matollionequay Apr 4, 2003 11:11 AM Flag

    Same facts different spin

    http://biz.yahoo.com/rc/030404/retail_ahold_conagra_report_1.html

    This article puts more emphasis on how Conagra responded once it determined an error had been made.

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    • You obviously do not know about the UAP scandal. Overstating revenue and earnings.I think that CAG is still under SEC review.

      Forget about dividends. This is a company with no leadership.

    • won't work andyco38 - not if your on the 5 year plan - 2/14/2001 - CAG lost big time do to issues at UAP - at that time it was around 23-24 and dropped to below 18 in a day and 1/2. That is why 20.50 is 18% growth. It would be nice if the 18% was on the 23 or 24. Based on the dow avg in same timeframe - then no one would be complaining.

    • Oh great. Go for it man.

    • go ahead and keep trying to pick time periods which support your fallacy. how about the last two years?

      CAG up 18%
      Dow down 18%

      http://finance.yahoo.com/q?d=c&c=&k=c1&t=2y&s=cag&a=v&p=s&l=on&z=m&q=l&w=on

    • Oh, by the way:
      CAG exceeded the S&P Food Index every year from 1992 to 1997.
      CAG trailed the S&P Food Index every year from 1998 to 2001. S&P took mercy on CAG managment in 2002 and discontinued the index.

      Gee, I just can't figure this out. From 1998 forward, same managment, same BOD (give or take a couple.)I am sure I am missing something.

    • Your absolutely right.

      The Dow has trended down 8% since 4/3/98

      CAG has trended down 38%

      What is wrong with this picture.

    • >>On 4/3/98 the price per share was $32.75
      On 4/3/00 the price per share was $19.50
      On 4/3/03 the price per share was $20.51

      In case you were unaware of it, we've been in a bit of a bear market over the last 5 years. The DOW has tracked a similar loss over the same period, yet you blame CAG management for a comparable decline in share price.

    • I am glad you are satisfied. Some how I missed an entire grade of school where they said the idea was to guarantee management their jobs and peace of mind regardless of company performance. Hell, you can borrow money to pay dividends and you can take big write downs one year to look good the next.

      The grade I did attend taught me that managment's job was to enrich the shareholder at some reasonable pace by steadily increasing the share price.

      On 4/3/98 the price per share was $32.75
      On 4/3/00 the price per share was $19.50
      On 4/3/03 the price per share was $20.51

      I sure wish i went to your school. I would feel much better about the boys in Omaha. Of course, I am not sure how I would educate my kids.

    • This does not smell of bad reporting. It smells of big time lack of credibility in CAG press releases. First they say nobody signed. Then they say two guys signed but they were not authorized to do so.
      What the hell is going on in that place?

      • 4 Replies to kybrd_1990
      • That's the culture inside the company. Most likely two employees were stupid enough to sign something on their own and management's hanging them out to dry. Think about what they're saying here. ConAgra said that they were not authorized to sign. The only authorizations the company has are for capital purchases. Specific authorization to sign a rebate statement does not exist. In reality, no one is authorized to sign something like that. This is an example of the ETS "blamestorming" process described on this board several months ago. They did something bad and they got caught. Now they find someone to blame and relieve themselves of any responsibility by saying that the victims were not authorized to do what they did. A couple of people get fired and cag management walks away again with no accountability for what was done. In fact, they'll probably spin this one so that it looks like they proactively did something to correct the problem.

        bj

      • That is not surprising. You basically have an incompetance rate of over 90% in this country, from the guys who take your trash to the President of the U.S.

        What I care about is the company acted ethically and appropriately, once they determined they were in error.

      • Let me tell you what is going on in THIS place. An Iraqui-like scramble to assign blame for poor sales execution, flawed marketing plans and no growth on the top line. The solution? Hire more levels of management to better insulate leadership from the details of the business. Don't believe it? Do a headcount in Bldg. #5. This bldg. used to be Frozen Foods HQ. The second floor is now the staff offices of the "Conagra Foods Retail Products Company". Created a couple of years ago with an incremental payroll of over $10,000,000 for what?

      • The same old BS, what do you think?

        Honesty and integrity is not a matter of degrees of separation. It all starts with leadership, or a lack of it at ConAgra.

 
CAG
46.04-0.03(-0.07%)Aug 26 4:03 PMEDT