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Cooper Tire & Rubber Co. Message Board

  • jewhoo3 jewhoo3 Nov 7, 2013 7:42 PM Flag

    CTB management lied to Apollo about the cost of the unions and China's plant mess

    Apollo got mislead from CTB. The US union's demand cost money CTB never disclosed openly

    The China plant is a mess and CTB never disclosed the mess they had there and how much that work force was unprofitable and uncontrollable.

    All Apollo has to do is to run out the year is solving disputes with Unions and China's workers. After DEC 31st they are not obligated to pay a break up fee and they just walk away.

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    • It is comical how the shorts are out in full force to support Apollo. Apollo did their pre-due diligence and all this info was available. Cooper didn't hide anything. Apollo is having buyer's remorse. When you make an offer and it is accepted, you are contractually obligated. This is like buying a used car AS-IS and not taking for a test drive or having it inspected before you pay. This case could be fought before Judge Judy for criminy sakes. Judge Milian would give some sage advice. Apollo pay CTB the $35 and another ??? to buy out Chinese JV. It was never part of the deal to have 100% ownership in the first place so you don't get to deduct it. I suggest you bring in outside valuation experts to figure out how much that China JV is really worth before you make offers again. Your in-house relatives are apparently idiots if you think $35 is too high or that they missed something originally.

      The deal will be cancelled by Apollo and they will be forced to pay the break-up fee. But CTB will never see it since the Indians don't abide by US laws...

    • jewhoo3,a stupid shortie ! Getting worried ???

      Sentiment: Hold

    • Yes, If Cooper files financial statements without correct Chinese data then it is a massive fraudulent violation of SEC rules. The accountants will be arrested by the FBI and the Auditors will run in the opposite direction. Who has the guts to deal with this financial nightmare that is unfolding? Prepare your resumes and wear that parachute. Jump ship right now ! HA! HA! HA! No one. in their right minds will continue to work at Cooper the Pooper!

      Sentiment: Strong Sell

      • 4 Replies to fmalone2013
      • Hey FMALONE how many companies and accountants have been arrested for SOX violations? ZERO!!!!! There haven't even been any fines. Accounting firms give negative or no opinions and companies have multiple material weaknesses and nothing happens to them. It is the investors responsibility to evaluate these statements and they are only annually in the 10K (not quarterly). Accountants are always protected. They have that disclaimer in the Auditors statement just as every publicly traded company does to...

      • The may have a delay in filing at worst but they can get the consolidated data from CCT on an estimated basis. They have info through end of August so they can estimate 1 month. Since there was no mfg, it should be easy. Just a question of settling on paying them while they striked as a condition of them ramping back up.

        Back in 2007, CTB paid $70M for 51% of CCT. I can't imagine it's worth more than $100M for the other 40% now. Chinese are just greedy bas turds and have met their match in equally greedy #$%$ holes.

      • alphahunter Nov 8, 2013 4:59 AM Flag

        I think we've passed that technical point.

      • No,No shortie fmalone2013,they can file a estimated statement !

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