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Cenveo Inc. Message Board

apgpp 5 posts  |  Last Activity: May 16, 2016 4:57 PM Member since: Aug 28, 2009
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  • apgpp apgpp May 16, 2016 4:57 PM Flag

    it isn't 400mil in gross earning. its that at the revenue line. their cap is low because they have a $bil+ in debt eating their earnings up. they are in a diminishing product market and make a habit of overpaying grossly for acquisitions (with debt btw.) their strategy is wait until all the thousands of small outfits go bankrupt, buy up as much capacity and idle it as possible (with debt btw) and hope that when the dust settles junk mail and envelopes are still a thing. If this were the peak of the interest rate cycle it might work. what they don't understand is that on trend interest rates have been in decline for 30 years (if not longer) and are now at or below -0-. There average cost of borrowing is 6% or higher...their atlas stone is that they have to grow earnings faster than the rates on junk bonds with rise.
    doesn't take an MBA in finance to realize that aint gonna happen; just ask the wicked smart guys at Macquarry. They understand duration and quoted burton et al high double digits for CVO with what was probably the worst terms ever and burton took it cuz he had no choice. That's the future of CVO. So good luck to you neophyte. remember that 1+1 always equals 2. If someone tells you otherwise, they are selling you something that aint true. as complicated as finance is, basic math always holds true regardless of the words someone speaks or the presentation they put up on the screen.

  • Reply to

    1st qtr numbers

    by ngjeff May 11, 2016 2:34 PM
    apgpp apgpp May 12, 2016 1:07 PM Flag

    best part of their releases....they go from operating income to EBITDA and never talk about asset utilization, amortization or average interest know, the components of EBITDA. they always bs about this cost or that cost which is part of non-opex...never any details just broad strokes.
    oh, and I think the $50mm they paying down on the ABL is being rolled into another debt instrument. so, back to taking out a mortgage to pay for a credit card. typical burton. smoke and mirrors.

  • Reply to

    "CARBcritic" comments on Carbonite.

    by carbcritic May 5, 2016 4:14 PM
    apgpp apgpp May 6, 2016 1:28 PM Flag

    I support your CVO comments. And this other company may well be a disaster just the same. Please leave that guy you mentioned in the first sentence out of this. He is a bigot, and his comments about that woman are nothing short of certifiable mental instability. I could go on, but that's the point. This page is not about made up morality. Burton and his team have a terrible strategic vision for CVO and its subsidiaries. He has implemented this failed strategy and by doing so has destroyed millions of dollars of value, ruined lives and companies. Please lets keep the focus on this, and not allow scope creep. I get your intention, but in this case your full disclosure of where you heard about a company is perpetuating a different kind of stupidity that is running rampant in this country.

  • Since when does an envelope company know pedagogy about Chinese to English? And why is Cenveo involved in it? Doesn't Rosetta stone have the market cornered on teaching language, and Skillsoft have the market cornered on eLearning? What's next? They gonna spend $30mil to build a server farm and think they know how to run a cloud databank?

  • Reply to

    Cenveo Mount Pleasant Closing in August

    by pantera30 Mar 4, 2016 8:02 PM
    apgpp apgpp Mar 7, 2016 8:52 AM Flag

    Get the #$%$(k out. Seriously? This is a new, new low. I almost cant believe that 2 years after investing in the second largest, most state of the art facility it is being shuttered. If this turns out true it is truly a telling sign on just how short sighted and unstrategic the company leaders are.

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