The CA office used to house the customer service/support people, but that got outsourced. That office was also trimmed down some due to R&D layoffs and whatnot a few years back. I'm not even sure what is done out of the CA office anymore
Actually it is. June 3 + 120 days is October 1st, you twat. The deadline is end of September, I made this second post as a correction for my first.
Weird how Karen is in San Deigo but so much of the company is abroad.
They have to destroy whatever they don't sell. Price cuts are coming. Sell it at 0 or negative margin, or pay to destroy it. Obvious choice.
No. They will have to destroy all of the unsold products. That's why a fire sale makes sense. Better off making a little money vs having to destroy stuff
Not by late October, that's after the September deadline. I meant that right before the deadline, they're going to liquidate this stuff for pennies.
I feel bad for whatever other company Harmonix signed to make new controllers. They're not going to sell anything until after MCZ is done with the fire sale. Then, once holiday season rolls around, nobody is going to need these controllers because they bought their MCZ ones at 70% discount.
By late October, MadCatz is going to be selling these things for pennies on the dollar.
shares have always been scarce at this level... and nobody is shorting
Must be a lot easier to do the CC since she doesn't have to focus on putting a positive spin on the RB4 mess anymore.
That happens when I make a post, and then delete it. I did that once or twice yesterday. The message will show my name, but it won't be in the thread because I've deleted it.
You'd better pray for some real volume, or you'll never get out of that stock. You must be in the hole if you're trying to pawn it off to investors in this board.
That's a shame, because it would really benefit MCZ if he drove a competitor into financial ruin, while collecting their $20k paychecks.
Yeah that cash situation is weird but didn't they also mention that it was a side effect of timing? If that's true, there's nothing there to scare away investors if ORN can surprise us with a good quarter. And with the shares being all institutional holder who are in at a loss right now, I don't think newcomers will get in very easily once the price starts moving.
You should read through the GLDD earnings call transcripts. Q1 is the slowest quarter for marine work, mostly because of the weather. GLDD stated that the domestic dredging market is picking up and margins are increasing. I'm not sure if this will affect Q2, but it seems like the back half of this year when they start to hit some of the newer contracts, the margins should increase as well.
I completely agree with your last post about this stock being priced for a huge rebound. The balance sheet is real impressive and the merger with TAS could not have gone any better. GLDD has been killed by a terrible merger during last year. They got swindled into buying an environmental remediation company at it's peak value... after that a few of it's projects got delayed and it's just suffered huge losses every quarter. Something like half the board resigned over it.
Unfortunately, GLDD dominates the dredging market, so they'll benefit most from those margins