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International Business Machines Corporation Message Board

funfundvierzig 286 posts  |  Last Activity: 1 hour 2 minutes ago Member since: Sep 6, 2002
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  • funfundvierzig funfundvierzig 1 hour 2 minutes ago Flag

    Trian puts the lying and DuPlicity of DuPont Management in far more diplomatic terms than we can muster for such ethically crippled executives in Fortress Wilmington:

    "Trian has a long record of improving the operating results of the underperforming companies in which it invests. Over the years, Trian has found that underperforming companies often rely on rhetoric to obfuscate their performance issues. Trian's nominees, if elected to the DuPont Board, will be focused on enhancing DuPont's operating performance by ensuring both management and the Board consider issues in a clinical and objective manner and that decisions by the Board are based on analysis that is grounded in reality and free of “spin.”

    ...funfun..

  • The Cornucopia of Corruption at 1007 Market Street, Wilmington, Delaware 19898 Will Be Exposed

    Readers, we suggested some days ago that the Trian Fund should file a complaint and ask for an investigation by the U. S. S.E.C and state securities commissioners with respect to blatant inaccuracies and deceptive information put out by DuPont's mendacious Management and their PR con artists and lubricious lawyers, not to mention their admitted DuPont employees/Managers on the internet. Now it appears they may be doing just that, we are happy to report.

    The Trian Fund announced today, April 24, 2015, it will make a presentation to the SEC pertaining to inaccurate and misleading statements made by DuPont.

    Whom do these fakers in the Fortress think they are fooling? Such consummate arrogance from this hubris-heavy crowd in the executive suites on the ninth floor of the pigeon-stained, 108 year-old dreary grey DuPont Building!

    Carry on...funfun..

  • DuPont Management Appears To Dump Possible HUGE Legal Costs

    Good Afternoon, Bonsoir, Guten Abend,

    Readers, for some time now we have been wondering which entity, the DuPont Company or its murky spin-off, Chemours or SHAMours, will be flagged with huge potential liability for 2545 toxic Teflon chemical lawsuits for personal injury pending in the U. S. District Court in Ohio. Opining speculatively, if each case is ultimately settled or awarded an average $2 million, the total tab could be a staggering (and we will write this sum out because it has mysteriously been CENSORED here before) five $ billion...$5,000,000,000.00.

    Here's what Moody's has to say today in assigning Chemours a Ba3 "family" rating with respect to risks:

    "The ratings are currently constrained by the high financial leverage, a high anticipated dividend payout relative to earnings and cash flow, weak industry conditions currently in TiO2 markets, which tend to be volatile as well as cyclical, and expectations of limited free cash flow initially. Other credit weaknesses include limited diversification as TiO2 and Fluoroproducts account for roughly 95% of EBITDA, albeit these two segments don't necessarily move in tandem. The lack of a track record as an independent company, the challenges associated with transitioning to a freestanding company, exposure to ongoing environmental costs and numerous environmental sites; and significant near term litigation risk stemming from the upcoming personal injury trials associated with PFOA, all represent additional risks in the credit profile, according to Moody's."

    So who gets holding the potential multi-$billion bag? DuPont or SHAMours? It is hard to believe plaintiffs' attorneys would let DuPont's slippery Management get out of financial responsibility for the ultimate legal outcome. No parent guarantees?

    Inquiring investor minds want to know.

    Merely the afternoon commentary of one investor and long-time student of the sneaky-run DuPont Co...funfun..

  • A Perverted Construction of the Operation of DuPont's Corporate Governance
    The Continuing Trashing of Nelson Pelltz & Trian

    Good Morning, Bonjour, Guten Tag,

    Readers, like other commentators here, we were a bit surprised at the summary observation of this slick Madison Avenue consulting firm, Proxy Mosiac, as reported by Bloomberg, yesterday, April 23, 2015:

    "'DuPont’s board is one of the few areas of the company that isn’t broken, and it is unclear how the rest of the dissident’s underwhelming candidates will add any value,' the New York-based advisory firm said in a report Thursday."

    Mosiac claims a belief in "good corporate governance" on its web-site.

    Folks, if CEO Ellen J. Kullman reporting to herself as Chair of the very Board of submissive Directors (cronies constructively hand-picked by Ms. Kullman and her predecessor the bumbling Chad O. Holliday, Jr.) who rate her performance and enrich her with a massive personal fortune in pay and perks each year, seemingly with no hard questions (Imprelis, Tell Us!), is not corrupt corporate governance, we don't know what is.

    But Mosiac has nary a word about DuPont's conflicted and corrupt governance.

    Finally, we are more than mildly curious: Has the DuPont Company or its Management retained Mosiac in the past, or presently, or will do so in the future for services or consultation? If the answer is "No", it should be disclosed.

    Merely the query and morning opinion of one individual investor at large and long-time student of the ethically deflated DuPont Company in decline...funfun..

  • funfundvierzig funfundvierzig 9 hours ago Flag

    Oh, and we're not responsible for the geographic reality that the tiny state of Delaware, with only three counties, is the second smallest state in the nation, with Rhode Island Plantations being the tiniest.

    Perhaps, we should more accurately describe the venue as the Ethically Dwarf State of Delaware, whose statutory laws and case law definitively coddle CEOs and Directors at the expense of owners, the shareholders of corporations.

    ...funfun..

  • funfundvierzig funfundvierzig 10 hours ago Flag

    Readers, take note of the fact that practically all of the some dozen posts of this sleazy heckler are aimed at yours truly. In short, he/she is a shill for DuPont's dirty-playing Management with the mission of distracting your attention from critical DuPont issues and discrediting whom they believe are "ring-leaders" of dissent.

    If this isn't cheap PR damage control, we don't know what is. And this bumbling shareholder-hostile heckler by his serial misconduct proves the existence of CYBER-STALKING and CYBER-HARASSMENT. How clueless and stupid are these DuPont Management-protecting junkyard dogs?

    Gotta laugh at the desperation these days in Fortress Wilmington under fire!

    ...funfun..

  • funfundvierzig funfundvierzig 11 hours ago Flag

    Rather than be distracted by the PR prattle of puerile plants of DuPont Management here in this forum, legiti
    mate investors might want to read a little about a genuine and superior-managed chemical and materials and seeds enterprise, Dow Chemical. From Winning Strategies, published this morning, April 24, 2015 by Seeking Alpha:

    "In Q1, it [Dow Chemical] generated record operating cash flow of $1.2 billion, an increase of more than $660 million over the past year quarter. Dow also returned $977 million to shareholders through buybacks and dividends. On its strong cash position and portfolio adjustments, Jim Cramer predicted Dow's share price to double in the coming two years. Jim Cramer further said that the latest deal will bring a lot of cash, which the company can use to buy back its outstanding shares. In my recent article, I recommended investors to buy this stock on dip, as the company is set to make big profits and short-term headwinds could not raze its performance."

    Dow Chemical is now the only giant chemicals and materials corporation left in America, other than ExxonMobil Chemicals.

    ...funfun..

  • Reply to

    CAT Earnings up 26% Q/Q DD Down 27%

    by asburyparkrocks Apr 23, 2015 8:04 AM
    funfundvierzig funfundvierzig 11 hours ago Flag

    This avowed, bonus-compensated DuPont AG employee, notthatblind, is not being paid by DuPont Management "to do nothing". She is paid well to be a PR plant here, constantly spouting the PR talking points from Fortress Wilmington verbatim and engaging in the dirty-play of cyber-stalking and cyber-harassing investors who dare question the quality and performance of the DuPont "leadership" team. What a sick, corrupt operation. And a complete waste of DuPont personnel resources.

    ...funfun..

  • funfundvierzig funfundvierzig Apr 23, 2015 12:09 PM Flag

    The robust earnings performance put forth by Dow Chemical Management is quite a contrast to the shabby first quarter results delivered by the under-performing Management of their much smaller rival in the dwarf state of Delaware. DuPont's big bosses tried frantically to cover themselves and their lousy showing under a tarp emblazoned "currency" translations and "volatile global environment".

    It is hard to believe that for practically all of the last century, Dow Chemical was the much smaller, little sister to the mighty DuPont Company, the largest and premier chemicals and materials enterprise on the planet. Now Dow Chemical has clearly seized the momentum (that's upward momentum, the momentum of growth and value appreciation, not the fake "momentum" of the dishonestly deceptive Ms. Kullman and her PR flim-flam artists) and stands twice the size of the much shrunken and continually shrinking DuPont Company by a number of metrics.

    Dow Chemical ranks number two in the world; only BASF ranks higher as number one.

  • funfundvierzig funfundvierzig Apr 23, 2015 11:04 AM Flag

    In an unexpected moment of truth, DuPont's customarily dishonest and dissembling Management actually got it right. They are "building momentum" as Q1 shows: That momentum is DOWN, DOWN, DOWN.

    The desperation exhibited by the deceptions and disinformation otherwise put out by DuPont's dirty-playing Senior Management should be investigated by the S.E.C. and state securities Commissioners, those who have not been politically corrupted and in conflict. We believe the Trian Fund should demand an investigation by DuPont's independent Directors into the misconduct of the top executives of this shareholder-hostile conglomerate. And that misconduct should include the systematic personal attacks launched by admitted DuPont Managers and DuPont employee/agents over the internet, thousands of sleazy attacks on Nelson Peltz and his Trian Fund and other supporting DD shareholders and investors over the past 20 months.

    ...funfun..

  • Reply to

    Maybe a deal between Kullman and Peltz?

    by dongledropper Apr 22, 2015 2:06 PM
    funfundvierzig funfundvierzig Apr 22, 2015 4:49 PM Flag

    The brazen LYING from these admitted DuPont Managers and DuPont employees, active and erstwhile, never abates. It's the foul culture ingrained in this corrupt conglomerate.

    The 102-year old DuPont Pension Plan was abolished by the bumbling ex-über boss, Chad O. Holliday, Jr, in 2006, and under the severe cost-slashing of Ms. Kullman, retiree healthcare is been trashed, now available to retirees at a maximum of only $2800 per year.

    This destructive duo of Holliday/Kullman has made DuPont the industry leader in employee takeaways. And now the dirty-playing thugs and goons assigned to the internet are accusing Nelson Peltz of what they have been doing for a decade, namely trashing regular DuPonters and retirees, and killing tens of thousands of jobs and careers.

    ...funfun..

  • With respect to the modestly capitalised Chemours spin-off to-be, DuPont CFO Nicholas FairlyRidikulis has this to say,

    "...we intend to return all or substantially all of the estimated $4 billion of one-time proceeds back to shareholders via a share repurchased within 12 months to 18 months of the separation, with a portion return by the end of this year."

    There are no "proceeds" from Chemours because there is no sale of the chemicals business, only a spin-off directly to DD shareholders. The dividend back to DuPont it appears will be extracted from the capital of Chemours, thereby enhancing the possibility of insolvency or bankruptcy down the road, in our speculative opinion, because of the massive weight of potential litigation costs (including 2545 toxic Teflon chemical lawsuits pending in federal court) and extensive remediation environmental costs and compliance costs in Chemours' ageing plants and facilities.

    …funfun..

  • funfundvierzig funfundvierzig Apr 22, 2015 2:37 PM Flag

    Readers, there must be some huge hypersensitivity over the dreadful Q1 results in Fortress Wilmington; as you can see, the unethical trash in the DuPont Management camp continues its NAME THEFT and CYBER-HARASSMENT. One sick, sick organisation, indeed!

    funfundvierzig...funfun..

  • Ms. Kullman continues her hype and hokum on the earnings call with timid, pre-screened analysts, who toss her only whiffle-ball soft questions:

    "We expect to continue this growth trend as we build and leverage our leading positions in large attractive markets for our competitive advantages meet significant opportunities."

    What "leading positions"? The gap between the leading seed innovator and producer in the world, Monsanto, is widening. DuPont market share is eroding. Moreover, DuPont plays sixth fiddle in ag chemicals/crop protection behind world leader Syngenta, followed by Bayer, BASF, Dow Chemical and Monsanto.

    The bureaucratically subsumed Danisco is an also-ran to world-leader Novozymes in enzymes and food additives.

    And one of the last businesses in which DuPont is the genuine world leader, DuPont Titanium Technologies, will be dumped in a few weeks with the Chemours spin-off.

    Followers don't have the "competitive advantages"; DuPont's superior-managed, superior-performing leading competitors have the big advantages in 2015 and beyond.

    [TO BE CONTINUED]

    …funfun..

  • Reply to

    Boeing EPS up 46% Q/Q DD Down 27%

    by asburyparkrocks Apr 22, 2015 8:30 AM
    funfundvierzig funfundvierzig Apr 22, 2015 1:13 PM Flag

    Boeing is an "airline"? Try one of the two premier aircraft manufacturers on the globe.

    Folks, the level of ignorance and lack of business smarts of these admitted DuPont Managers and members of DuPont Management in the ranks is a startling exhibition of why this degraded DuPont is in such deep intractably trouble.

    ...funfun..

  • The UpsideDown World of DuPont Senior Management

    Good Morning, Bonjour, Guten Tag,

    Readers, we always get more than a dozen deep chuckles from the quarterly earnings conference calls staged by the big bosses of DuPont. It's fun to see them squirm and worm, and go to so much trouble to misinform and disinform. Yesterday's April 21, 2015 Call was no exception with Ms. Kullman, DuPont Chieftess, leading off:

    ""Thank you, Greg and good morning everyone. 2015 is an important year in DuPont’s ongoing transformation and our first quarter results demonstrate our ability to grow next generation DuPont…"

    This lead-off dissimulation by Ms. Kullman shows investors how far off plumb DuPont leadership is in grasping commercial reality. How does a significant sales decline in every one of seven DuPont business segments "demonstrate our ability to grow"?? And a powerful plunge in DuPont GAAP EPS from $1.54 to $1.13 exhibit the "ability to grow"?

    And how is ditching two centuries of core competency in chemicals by dumping $7 billion in annual revenues with the Chemours spin-off to DD shareholders, "growing" the DuPont Company? There is not a single dollar of sales proceeds to reinvest or expand business.

    This Alice in Wonderland thinking in Fortress Wilmington, shrinking is growing, losses are gains, is baffling to investors, and hardly inspires any degree of confidence in this stumbling and fumbling DuPont Management!

    [TO BE CONTINUED]

    …funfun..

  • A Jack-Up in Dividend, Likely To Be Cut After SHAMours, the Chemicals Business, Is Dumped In a Few
    Weeks!

    Good Morning, Bonjour, Guten Tag,

    On first glance of the hype and hokum in the official DuPont Press Release this morning, there is little surprise, with substantial and significant weakness in earnings and revenues, particularly in the over-touted DuPont AG segment. Q1 2015 is yet another inferior performance from the inferior Management of a decidedly inferior corporation.

    Remarkably, if not stupidly, Ms. Kullman and her PR con artists proclaim,

    "We are confident that DuPont will continue its momentum, growing value for shareholders by leveraging our innovation platform."

    Well, Ms.Kullman, that appears to be one of the most accurate observations you have made in a while. The momentum is down in revenues and earnings, and that downward momentum is indeed and in fact expected to continue on your clumsy command!

    As for those "600 innovations" created in a single quarter just past, can you name a single one?

    Merely the viewpoint of a single individual investor and long-time student of the diminished DuPont in continual decline (with momentum)...funfun..

  • funfundvierzig funfundvierzig Apr 21, 2015 6:44 AM Flag

    And Ms. Kullman, that includes regular homophobic filth hurled by your self-announced DuPont Managers operating in your gallant defence! How does that square with your touted DuPont CORE VALUE of Respect for People?? Your internet junkyard dogs, avowed representatives of DuPont, are not making you or the DuPont Company look good!

    funfundvierzig...funfun..

  • funfundvierzig funfundvierzig Apr 21, 2015 6:36 AM Flag

    LYING DUPONT MANAGERS CONTINUE TO LIE!

    Folks, get a load of how this admitted bonus-paid DuPont Manager and homophobe lies to you, trying to pass off the pesticide DuPont RYNAXZYPYR as an "Innovation" of current CEO Ellen J. Kullman. This ag product with the stupid and forgettable marketing name was developed and introduced nearly a decade ago during the Reign of Error of Chad O. Holliday, Jr.

    Investors, beware and be wary of the sleazy avowed DuPont employees assigned to the internet on PR damage patrol

    ...funnfun..

  • Can Anyone?

    Good Evening, Bonsoir, Guten Abend,

    Readers, the screeching entertainer and petite, bald pate pundit from CNBC got married over the weekend in Brooklyn to a second wife, and real estate investor. "BYE, BYE, BYE, first wife; BUY, BUY, BUY, second wife!"
    But his operation still found time to glorify and gush over his idol, Ellen J. Kullman, DuPont Chieftess, boasting DuPont has turned in strong growth in profits. WHAT?

    Never mind, DuPont EPS has fallen year after year since 2011, a year DuPont's dishonest and deceptive Management has put out 9 versions of EPS under many muddled accounting methodologies. And DuPont EPS will likely fall significantly this year as well, 2015. And never mind this "strong" corporation hasn't a single high-profit, high volume new blockbuster product or breakthrough technology developed and introduced under the command of the Empress of Imprelis. Think about it. No major GM seed traits from DuPont, for example. No popular consumer product. Zilch.

    Merely the evening commentary of one individual investor at large and long-time student of the degraded DuPont in decline...funfun..

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