Among other matters voted on at the Annual Meeting, Sandell is pleased that the amendment to Article Twelfth of the Company’s Charter was approved by approximately 84% of the Company’s totalshares outstanding. With the passage of this amendment, ANY Director may be removed from the Company’s Board with or without cause by a simple majority of the shares outstanding. Because shareholders of Bob Evans have the ability to act by written consent, ANYshareholder has the ability to solicit consent for the removal of one, some, or the entire Board of Directors at any time, not just at the Company’s annual meeting. Shareholders thus have an incredibly powerful tool to ensure the highest standards of accountability from the entire Board of Directors, which may be particularly meaningful in the case of Bob Evans given the fact that a significant majority of total shares outstanding were just voted in favor of a number of Sandell’s nominees. ......................................... Sounds like the potential for some sleepless nights for Directors if a 10- 12? ROIC isn't achieved!!! Maybe BOBE should run another template. As stated at the Shareholder meeting, the goal is to UNCOMPLICATE the transaction of business between BOBE and their partner.
y2k7trillionover your comment " : I hold no position in BOBE because I do not like city slickers (like Sandell Asset Management ) running agriculture companies." Would you not say city slickers have been running BOBE the past 6 odd years??? Just asking?
DINNER ROLLS STOLEN:A resident of Hill St., Pleasant Hill, reported the theft of Bob Evans dinner rolls from her refrigerator. The refrigerator is in her carport. The resident advised the theft occurred approximately one month ago and wanted to file a report.
Send the poor dear a coupon Bob!
Repeated reduction in earnings guidance
Missed consensus earnings in 14 of the last 24 quarters
Consistently poor and declining same store sales
Bloated corporate overhead
Inordinately high SG&Aexpenses
Abysmal returns on invested capital
Failed ‘Farm Fresh Refresh’ remodeling initiative
Industry worst margins
You have to remember the terrible situation that Davis inherited. When someone as educated and connected as Davis is, comes in to take over a troubled company, the shareholders must give the new management time. Davis is implementing strategies that are forward thinking, inclusive, and revolutionary. They take time for the old guard that was entrenched at BOBE to buy in and make the change to Davis's way of doing business. Like staying open all day on Thanksgiving. Just think of where BOBE would be today, if Bob and Dan Evans had the vision and foresight to have done this back then, how much the shareholders would have benefited?? Imagine if Davis had been brought in back in the mid 80's, just think of the marvelous results could have delivered. Give Davis more time. It's kind of like Obama taking over for Bush.
Santelli must have read my post!
CNBC's Rick Santelli went on another epic rant a few weeks ago - this time about cheap money and stock buybacks.
He is right that stock buybacks can obfuscate a company's financial results.
The earnings per share of Bed Bath & Beyond and Sirius have benefited from buybacks. Lululemon attempted such financial engineering in June but the market saw through it.
management still significantly lowered its earnings guidance for fiscal 2015. The company now expects to earn between $1.90-$2.20 per share, down from previous guidance of $2.80-$3.00. It also expects full year same-store sales growth of 1.5%-2.5%. Hmmmmmmmmmm sounds like one heck of a revision!
Again, it's relative, because McDonald's still serves tens of millions of people a day. But if the number of diners consistently declines, price increases become the mechanism it has to rely on for growth. And higher prices likely mean fewer guests, again, because that makes already more-expensive competitors appear as stronger options. It has to reverse this drop.
Portillo's sells 38 locations for 1 Billion dollars. #$%$ Portillo should do some consulting!
Since then, Portillo's has grown to 38 restaurants in four states, notched more than $300 million in sales last year, and built an online business that ships orders to all 50 states. Portillo's has even boasted on itsmenu that it succeeded without franchising or investors. But now, backed by deep-pocketed investors, industry experts expect its expansion will move faster.
Great job Dave! I have used the same tactic in helping me make some of my best investment decisions. Peter Lynch would be very proud of you! That said, I am in the opposite position of you as far as entry point into PSIX. I have recently taken profit, with the intention of being able to re-purchase again later at a lower price. I did not totally exit my position because I know that I am not that smart, and PSIX could make a quick U-turn. The ending of the flaring of methane at the wellhead in 2015, has to be thousands upon thousands of wellhead opportunities. PSIX has to be on many radar screens.
Good luck and average down at some point.
I think it was a wet Fall which caused a lot of additional testing.
– The principal foreign matter in corn this fall is going to be molds,
either diplodia, fusarium, penicillium, or gibberella. Some of these molds produce mycotoxins
and some do not. The grain elevator must be extremely careful not to allow mycotoxins to
contaminate his grain supply because there is zero tolerance for things like gibberella. Even
ethanol producers must be careful because mycotoxins end up being concentrated in the DDGs
Many states are reporting that the elevators are rejecting both corn and soybeans due to the poor
quality of the grain
NEOG has tests for mycotoxins.
Bob Evans steady decline
Over the past five years revenue, net income, and free cash flow declined 7%, 104%, and 81% respectively. Mastermind of a value superior strategy that the likes of Sandell and Cramer can't comprehend! It takes time to turn around a aircraft carrier!