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The Manitowoc Company, Inc. Message Board

  • fgsena fgsena Jul 4, 2009 10:58 AM Flag

    Why is MTW still paying a dividend?

    I think they should cut out the dividend completly and use the money to operate or cover their covenents.
    Does anybody agree?

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    • Just tell me that MTW management didn't know a recession was coming and were caught completely off guard. This would be enough for me to make a final decision about the future of this company.

    • very well stated!!!! good post

    • Isn't this a public company ? People have a right to 'vent'. I don't (IMO) believe it is the same as yelling 'fire'in a public place. On a neanderthal level... If someone punches you in the face you are going to probably dislike
      that person for awhile. If someone makes a bonehead acquisition (in some opinions)and you lose 100K on your retirement or investments,
      you are probably not going to have good things to say about them for awhile. Yeah, that is the risk taken in the market but it still stings.
      Calling people un-American or saying they are going to be kicked off a message board isn't exactly the correct thing to say is it ?
      Hit the ignore button... If it stings that bad..

    • Unfortunately, too many Americans(perhaps you are not an American) are like you when it comes to understanding free speech. Free speech does not mean a person can say anything they want --i.e. yelling fire in a public setting. Free speech applies to comments regarding our government. I am not saying you are lying, I am just saying that too many people post their so-called opinions under the heading of --it's a fact. If you have articles or references
      (outside of the barber who cuts the hair of someone who works at MTW:)) that support your so-called opinion, then post them.

      Also, for what it is worth I agree with those who state that this management team has been a disaster. However, name calling, spreading rumors, telling me that you heard a rumor from someone who heard a rumor etc. is NOT a fact. Again, I say post some facts with references and then perhaps more will listen to your rants.

    • bert you should take such offense unless you are typing from the MTW headquarters. What in my post is going to get me kicked off this board, stating my opinion and just what this board is for, or exercising my right of free speach. Or is it the facts of what really happens there that MTW tries to hide from the public. Either way if you don't like my opinions just hit the ignore buttom and you will never see them again unless you work for MTW then you are trying to fog the clarity of the truth with a smoke screen.

    • You should stop making accusations about company executives. It will get you ignored by other posters and perhaps kicked off the message board. If you have some facts or insights, we are interested. Otherwise what's your point?

    • sure he does!!!!!! Glen knows everything that is going on there and I bet you he is the one that ordered them to be put out of site and out of mind. Kind of makes you wonder if all the rumors are true about how MTW rallies all the trucks at the end of each quarter to load up all the parts to cranes and get them on the roadside so that they can delcare that they where shipped and they met there quotas, but after midnight they all get hauled back into the yard so that they can complete the work needed for them to be finished. These guys have been pulling crap like this for years, the reason they kept getting away with it was because of the never ending back log that now has gone completely away. They have laid off even more employees now and have everyone else cut back to 32 hours, rumor has it there is even another very large layoff coming. A good friend of mine that works there also told me the other day that all the cranes in hiding around town are almost complete loses at this point that MTW reqiures 10% down but a great deal of the customers canceled their orders and surrendered there deposits and that is why MTW has not shipped anything. Lets face it those cranes have no buyers in this economy.

      Like I said in many of my other post Glen needs to be let go. He and CFO who made the accounting error of 230 million, WAIT WASN'T GLEN FROM MTW ACCONTING DEPARTMENT!!!!!!!!!!

      enough said

    • 1.64% is a cheap rate, it keeps money in the company. Where else can MTW borrow at such a low rate?

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