I thought this was going to be an announcement of a Favre for Aaron Rodgers trade...
The Stanley/BD deal isn't really impressive. It's all stock, and sounds like more of a merger. Cash deals would be good for the overall market.
In any case, there's like zero chance that someone will buy MTW.
Here's the news...Manitowac closes Freeland facility...which produces Garland brand ovens, and clamshell grills for McDonalds, Ovens for Tim Hortans, Grills for Sonic...Once again the money maker get's sacrificed to help other struggling companies....
Stop making this seem so catastrophic. Only 160 people got laid off. They're not stopping the Garland brand, their just streamlining their business and cutting the poorer producing facilities. This was a cost cutting move. They'll produce these items in another facility.
I'm sorry if you lost your job. You'll just have to move out of the area to find work.
"Frymaster, a Louisiana based company of Manitowoc's food service group came within inches of loosing their contract with MCDONALDS because of their lack of consistency and quality."
This is not true, do you have facts to back this statement up or is this buddies bullshitting down at the bar?
Frymaster has been selling quality equipment to McDonalds since the early 80's. Never has there been a threat by McDonalds to "pull the contract" from Frymaster for for "consistancy or quality" issues.
This is a very close relationship, so close that McDonalds comes to Frymaster to ask them to develop a certain products (non-fryer and fryer)that no other company is willing or capable of developing and producing. Any issues Frymaster has ever had with a product at McDonalds have all been pilot programs and prototype equipment that McDonalds has asked Frymaster to develop. (UHC, HLZ,LOV)
I understand you may be upset about the Freeland facility closing, and I agree Garland Canada has had issues, but to start trashing the rest of the companies in the foodservice division with half truths is childish.
Grill will be moved, and I have no doubt that wherever it is moved too, it will continue the be successful because the other companies are no slouches. Thanks to the hard work by the people in Freeland, McDonalds will still continue to purchase good equipment, only from another factory.
I'm sorry to hear about the people at Freeland.
Good morning Mr. Wrench, former CFO of Enodis. I am slightly confused about your comments on Frymaster. I am certain that the "LUV" deal almost bit the dust because of problems in the field, NOT PILOT RUNS. Mr. Wrench, this is not just "BS'n AT THE BAR". Also Canada continues to have its issues; these are not just issues in the past. Canada can't even make on time deliveries, working 3 days a week, let alone bringing more work to the plant. What I would like to know along with OTHER SHAREHOLDERS, YES I AM A SHAREHOLDER, is how do you move products out of the country only to be imported back into the country at a fee. How do you produce a product in another country in which the currency rate is higher than the country you are moving it from, and have the same profit margin?????? How do you rid of a building that is bought and paid for, and that has land around it, that the town offered to give the company for FREE, to move it to a building that is not owned by the company???? I guess you do the same "BS AT THE BAR", at the corporate meetings with Manitowoc! As a CFO you are supposed to tell the public the TRUTH about business not “BS AT THE BAR”! I’ll pick away little at a time! Shareholders need to know the “TRUTH” on how this company makes business decisions! Who else housed in Canada would like to join in? CHALLENGE ME!! Bring on some FACTS on why you made your decision! Have a great day!
I'm pretty sure divie was making reference to a point that shouldbe obvious to anyone by now: In voting for "change" in last year's election, we have succeded in fundamentally changing America. Unfortunatly, however, it is dramatically for the worse. Nothing that Obama has done has worked. The NEW debt is staggering. The stimulus has stimulated nothing. The health care legislation and cap and trade would be economic disasters.
The unfathomable (and frankly, for the Democrats, ignored) costs of Obama's "change"s will necessarily have one of two outcomes: (1) the government will be unable to cut enough spending to service its wildly expanding debt, thereby causing a first-ever default on U.S. notes, or (2) we will experience MASSIVE tax increases in order to service this debt. There is simply no other way out. Although Bush was no deficit hawk, he would never have allowed such expansive, intrusive, and unfunded government growth as we are seeing now.
Well, Obama promised "change". And here we are....
Have you heard the latest buzz in Washington?
Apparently about $300 billion of the stimulus has not been spent yet. Everyone is scrambling to try and spend as much as they can. I've got a pretty crazy idea, how about they don't spend it and give it back to the taxpayers. It's pretty clear that we are pulling out of this recession. It may not be fast but things are starting to pick up.
i think we should continue the bush doctrine more war less tax on the top 10% more tax on the other 90% those mother fuckers are eatin to much anyway that would take care of that pesky co2 problem and they would nt have enough energy to go vote come on people ya gotta admit it s a good idea god bless america make em have babies that way they ll starve off faster lot of good ideas lets hear some more 200 a barrel for oil good for the 10% stop that 90% from talkin to each other. tax the internet but make it tax deductible for the top 10 stop the 90 from learnin anything only allow fox into their homes so they ll want to kill themselves hope to see some more ideas