Very well put! One update to note.......as of 10/13/13 Mike Buseman is no longer with Plexus! Traditional quote from leadership staff "he went to pursue other opportunities". I see this as his high level of intelligence coupled with his vision of what direction Plexus is going and not wanting to be a part of it. The "Good Old Boys Network" remains strong and intact so no worries there!!
I was worried but feel better now that my manager at PLXS told us to cut our travel costs yet the executives will still have access to the private jet which costs over $2million annually for the access and insurance. I'm no finance analyst but if PLXS profit margin is 10% wouldn't they have to do over $200million in sales to recover? If the PLXS executives, as well as the board of directors who also flys in this plane, really want their stock to have value for you stockholders this should be an expense that gets eliminated rather than hundreds of local jobs from employees that helped get the company to where it is at today!
So Juniper pulls out of Plexus, which represented 17% of their business, but now Plexus ships all the manufacturing equipment to the contract manufacturer that was awarded this business. With the equipment leaving it appears that there is no backfill for this lost business!
So Plexus annouces the pull of Juniper. What you didn't hear is that they knew that this was going to happen. Proof = the summer/fall long layoff's of 100+ long term experienced employees within the corporate office. Also note the recent selling activity of the executives. The Board of Directors should be asking Dean to resign and fire other executives for allowing the loss of such a large portion of Plexus business.