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General Employment Enterprises Inc. Message Board

jbird544 9 posts  |  Last Activity: Feb 3, 2014 1:57 PM Member since: Oct 20, 2012
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  • There have been no real changes here. The Board of Directors recently "threw out" their CEO who owns over 70% of the stock and have not replaced him. Their CFO has no industry experience. Their Board of Directors is a bunch of old guys with no industry experience, motivation, or knowledge how to run a small/staffing company AND now Board members are jumping off the ride (quitting the board) as even they can see it coming to a grinding hault. Let's just sit back and watch the Board fight with the majority shareholder while this company spirals to a crash landing. No wonder the Company tried to do a pump and dump ... to help the majority shareholder to try to get rid of some of his shares (at your expense) before the company crashes. See ya!

    Sentiment: Strong Sell

  • Reply to

    3 days in a row with no trades - odd!

    by denn56k May 22, 2013 4:22 PM
    jbird544 jbird544 May 24, 2013 4:58 PM Flag

    Anyone that understands the industry, micro-cap stocks, trading volume and this specific company's history can clearly see the facts for what they are ... the actualy value of the stock "something less" than $0.20 ... call it $0.15 if you want to be optimistic ... but the reality of it is that this stock will never sustain a trading value above $0.10 with any sort of trading volume. There is no intellectual property value. No specialization of labor. There are no long-term contracts with recurring revenue associated with them. They provide day labor to people in need on a daily basis and they don't even do that as well as their competitors. The best play here for shareholder value is to oust those "running" the company, release the board to go back to their "day jobs" and sell the revenue to a competitor that can roll this into their existing infrastructure and revenue base.

    All in favor ... say "aye".

    Otherwise ... time to get off the ride as this rollercoaster is only going down ... no more ups.

  • Reply to

    Board of Directors

    by ccniinvestor May 3, 2013 12:52 PM
    jbird544 jbird544 May 6, 2013 9:38 AM Flag

    Find it unusual that the President/CEO and CFO aren't on the board? Not really. Have you met these guys? Have you read their bios? They have absolutely NO experience in the staffing sector. The CFO was just another act of desperation by Glenn to hire a "yes man" as he couldn't take the heat from the prior CFO that was pushing for change. The President got walked into this job because he is a longtime friend of another one of the Board members and was unemployed and needed a job.

    The only thing unusual here is that "Tailpiper Won" is still serving on the Board. If he is the best that this Company can attract at this point with nearly $100MM in revenue, it simply serves as a testament to the inability of the Company to attract and retain talent that is capable of running a profitable business in a growing and thriving sector.

    Take a look at their other public competitors ... Command Center is getting taken to school. They are expanding their revenue base, gross margin % and net incomes. Command Center has recently published a press release essentially telling the world to expect a contraction of their revenue. One thing is very clear, they have no idea of how to compete in this sector which is a representation of their level of sophistication.

    Clearly their best option is to put some lipstick on this pig and sell it to someone with a brain. They would be doing us all a favor.

  • Does anyone take exception to the Company compensating these three named executives nearly $850k when "their" performance and the "Company's" performance is well below expectations. I cannot believe that this is not causing complete anarchy amoungst the shareholders. I am pretty sure that you could through all three of these guys out and not even miss them and save the Company nearly a million $$$. Wouldn't even miss them!

    Key Executives Compensation:
    Mr. Dan R. Jackson , 59, Chief Financial Officer 231.00K
    Mr. Todd A. Welstad , 44, Chief Operating Officer, Chief Information Officer, Exec. VP and Director 318.00K
    Mr. Ronald L. Junck , 65, Exec. VP, Sec. and Gen. Counsel 284.00K 0.00

  • Reply to

    Pollyann is Out

    by bill.phillips2 Mar 17, 2013 10:31 AM
    jbird544 jbird544 Mar 18, 2013 12:23 PM Flag

    Pollyann out --- that can only be viewed as a possitive. She is the single worst "pot stirrer" this Company has ever seen. She does everything possible to promote "herself" and stops at nothing in trying to make others look as bad as possible. She can sell but the overall negative impact on all other aspects of the business far outway any good that she may bring to the organization.

    Todd out --- only one thing to say on this subject ... "what took them so long?" He is pathetic but what do you expect from another Welstad. The apples in this case, the two sons, didn't fall far from the tree. Glenn was a criminal and stole millions from Labor Ready and was eventually fired for it, probably the same at Command Center, and we all know that his sons criminal record speaks for themselves. They all should have been gone long ago.

    All of their relationships have been so childishly ridiculous, I can only imagine what markzurn is referring to. In fact, I don't even want to know. Just get rid of them all. If they really want to complete their housecleaning, hopefully they will get rid of theith worthless general counsel. This will truly let them start from scratch and build this company on sound business principles and clean out hte Welstad plague.

    Board of Directors - Please complete the task that you have started for all of us desparate and patient shareholders.

    Sentiment: Hold

  • Reply to

    Grifter

    by dskowronek Jan 30, 2013 5:38 PM
    jbird544 jbird544 Feb 18, 2013 8:44 PM Flag

    Agreed ... this company doesn't need a slight of hand trick or a simple rearranging of the chairs ... it needs a changing of the guard. Isn't it time that the Welstad clan just move on? They have effectively sucked this company dry of its cash, assets, goodwill and now sit on piles of liabilities that they have no cash, operating cashflow or future with which to satisfy them. Thanks guys! Take your family party somewhere else.

    Sentiment: Strong Sell

  • Reply to

    MDT purchased for $452K per store

    by wyattkap Feb 6, 2013 6:20 PM
    jbird544 jbird544 Feb 6, 2013 9:01 PM Flag

    These sorts of conclusions, extrapolations, naive expectations and completely out of context speculation is exactly what has driven CCNI to the position in which it currently finds itself.

    Could CCNI be valued like MDT, sure! If there was any discipline in running the locations with sound business fundamentals so that the branches were profitable ... but they aren't. Once CCNI can report consistent positive cash flow from Operations, you might have a point. BUT ... until then ... don't get your hopes up. I am not sure that you could find anyone to even "take" the Company from you at this point.

  • OK, OK, OK ... We can all agree that North Dakota and possibly Montana have an "oil boom" on their hands. Call it a "Black Gold Rush". Call it whatever you want. This is all just a distraction on this message board since Command seems incapable of capitalizing on the opportunity. Who cares about their monthly press releases about increasing Revenue? Again, this is just another slight of hand distraction by these guys. If they can't turn 30% Revenue increases into increasing profits ... who cares? They are working harder & taking more financial risk for absolutely no good reason. We want profits!

    One thing is perfectly clear, so long as the Welstad clan is at the helm, this Company will NEVER achieve its potential and make the kind of returns that it should/could. How much more clear could the last 7 years make this to all of us? The Company's revenue has increased from $70M to $100M over the past 2-3 years and yet it struggles to break-even or make enough for my kids lunch money.

    Notwithstanding Command's juicy GM% (we all know that this number is artificially inflated by under reporting their costs) on revenue of $100M, the Company still fails to push meaningful $$$'s to the bottom line. Quick research shows industry average for net income is 3-7%.

    Black Gold Rush ... Oil Boom ... good GM% ... huge demand for temporary employees ... making money should be like stealing candy from a baby!

    When will the Board of Directors fulfill their duty, do their job, hold these guys accountable and stop running this Company like a family business?

    We want profits! Stop wasting our money!

  • Reply to

    CCNI may be ended. Find out why.

    by stjohn.jessie Oct 18, 2012 7:54 AM
    jbird544 jbird544 Oct 20, 2012 10:23 PM Flag

    Based upon the stock having no trading volume and the share price going down even after the Company announced record breaking revenue this year, quarter and month, clearly the shareholders and potential shareholders have taken the balance sheet and the historical "lack of" performance of this executive team into consideration. How a Company can achieve such a nice Revenue growth curve and still fail to produce any earnings is simply amazing.

    The $2.5M is some bogus asset sitting on their books since the buy-back of the franchises and obviously has no value. Simple comparison --- Compare Cash & AR to current liabilities (A/P) then compare the workers comp asset/pre-paid to the workers comp liability. Simple conclusion --- appears they have a negative ratio of assets to liabilities.

    Looks like the grave that Glenn is digging for himself is just getting deeper and deeper, while the stock price slowly but surely swirls downward and shows the true sentiment of the shareholders and the actual financial performance of the company.

    Can you hear the fat lady singing yet?

JOB
0.19+0.01(+4.11%)Jul 22 4:00 PMEDT

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