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Ferro Corporation Message Board

  • How_did_that_happen How_did_that_happen Nov 13, 2008 8:55 AM Flag

    How can FOE fall to $8.99?

    This is incredible, unbelievable, fantastic - pick your own word. That's the lowest price since 1992 or earlier when the dollar was worth twice as much. In real dollar terms, the stock is at a 25 or 30 year low. Why?

    Why is Ferro dropping like GM and Ford? What is the management team doing about it? If management were even marginally competent, would this be happening?

    "James F. Kirsch is President and Chief Executive Officer of Ferro Corporation. He joined Ferro in 2004 as President and Chief Operating Officer, became President and Chief Executive Officer in 2005 and added responsibilities as Chairman in 2006."

    Ferro stock was only $19.85 on December 15, 2006 when the Board of Directors of Ferro Corporation (NYSE:FOE) elected James F. Kirsch as Chairman, President and Chief Executive Officer. That's a 55% drop in value under Mr Kirsch.

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    • Why did this stock not move up with the market today?

      Ferro is up 8 cents or 0.89%. The Dow is up 6.67%. S&P 500 up 6.92%.

      What is wrong with Ferro that competent management cannot cure?

    • FOE is hurting for cash and working capital. They have alot of debt and have been in an almost continuing restructure mode for along time. Many of their products are linked to consumer goods and the auto industry. Look elsewhere and forget about the divident they offer, IMHO, it will be reduced out of necessity. Sri

      • 1 Reply to srilanka_63
      • So you think that the dividend may be cut or suspended.

        That makes sense.

        Mr Kirsch should have sold some parts of Ferro when the going was good. The Electronics materials division would have provided $15 to $20 a share about 3 or 4 months ago. And Ferro could have easily weathered a depression in the US.

        Now, if they suspend the dividend, the stock falls to $7 or lower.

        All my thoughts on Ferro's stock price are pure speculation and do not base any investment decisions on them, please.

        I will buy Ferro if it goes low enough, luckily having sold earlier this year. And, luckily, have not bought any yet.

        I am still shocked at how low Ferro has fallen.

    • Well it looks not so good... what is next?? I think FOE is a good company for this price no?

      • 1 Reply to claudiadmtz
      • NO!

        Although at $5.00 it is a steal (for a day-trader that gets out at 8.00...before the end)

        The company was just not nible enough to liquidate most operations and reform the rest. Alas, it may be too late and expensive to get into any growth areas.

        FOE always seems behind the curve. Good luck to the remaining employees. I would advise many of them to prepare for another career. Tis the way in the US these days.

    • "Fact: Kirsh WAS hired as CEO because Ortino died"

      Fact: Kirsch was hired in Oct 2004 by Hector Ortino as president and COO and became CEO when Ortino died on November 29, 2005.

      Hector hired Kirsch way before he died. IMO, Hector did not want anyone with advanced degrees because he/she represented a threat to his total control.

      In any case, Kirsch has been a disaster for Ferro. We set a new multi-decade low today while the market was rallying 5 percent.

      Is there any chance of Ferro going under? Options are dirt cheap and the stock behaves as if there are major problems at Ferro. Why is no analyst upgrading the stock here? What am I missing?

      "Kirsch joined Ferro as president and chief operating officer in October 2004 and was named president and chief executive officer on November 29, 2005."

13.45-0.06(-0.44%)Oct 21 4:02 PMEDT