As you all know, people who invest in stocks mostly tune into CNBC during the market hours each trading day. To hear the lame excuses put out by Tom Sullivan was devastating to the stock Friday. And what's worse he came off as a bozo who doesn't know how to run the LL brand.
His troubles all stem from product made in China. China doesn't care what they ship overseas to America and the last Sunday night 60 minutes shows it so.
CEO Tom seemed less concerned about getting a LL Quality team over to China to watch that they make the flooring to LL standards and comply with American and California especially environmental law.
All he would say was "the customer will decide".
Well Tom the American customers can easily decide that you are the wrong guy to be in charge of this company. And that you don't care anymore than China does about the product you put onto American floors.
When asked by CNBC if he would just flat out not accept any more product from China -- he answers with the vague management-speak phrase "the customers will decide".
When America holds the 60 minutes report alongside the Tom interview, Americans can decide in less than 10 seconds.
Tom, you are an idiot.