Mr. Montalto, 66, brings more than 40 years of retail experience to the Tuesday Morning Board. This includes 26 years at Sterling, an operating subsidiary of Signet Jewelers /quotes/zigman/520425/delayed/quotes/nls/sig SIG +0.04% , and the largest specialty jewelry retailer in the United States. During his tenure at Sterling, which included increasingly senior positions culminating in his COO role, the Company grew from a small, privately-held retailer to more than 1,300 stores and sales of more than $3.0B. Mr. Montalto's specific contributions included systems integration, business process development/operations improvement, and numerous brand equity building initiatives.
"Bill Montalto is a first class executive who has held senior leadership positions at one of the top performing retailers in America," said Steven R. Becker, Chairman of the Board. "Bill's operational expertise and extensive knowledge in all aspects of retailing including information technology, real estate and marketing will make him a terrific addition to the Tuesday Morning Board of Directors."
Prior to Sterling, Mr. Montalto served as a retail management consultant for Coopers & Lybrand (now PricewaterhouseCoopers), where he lead significant systems planning and development consulting engagements for a variety of major retailers. Earlier in his career, Mr. Montalto held systems positions with Saks Fifth Avenue, JCPenney and W.T. Grant.
Among his many contributions to the retail sector, Mr. Montalto previously served on the Board of the Jewelers Vigilance Committee (Member, 2003-2009; Chair, 2007-2009). His community involvement includes serving on the Board of the Court Appointed Special Advocate/Guardian Ad Litem (CASA/GAL) program in Summit County (OH) - service for which he received the 2009 William P. Kannel Child Advocate of the Year Award.
Steven R. Becker
R. Michael Rouleau
Richard S. Willis
Im unclear on exactly how much they have left. Perhaps 4.8% ? 13d's are way too hard to decipher when it comes to exact remaining ownership.
There is no sugarcoating it, this is not good. My remaining position is small but I will likely look to dispose of it on strength, if any, by year end. But even if I sell at $8, I made a lot of money.
That said, I would be surprised to see the shares fall to $8 anytime soon and I still think their x-mas quarter will show evidence of what this brand is capable of going forward.
So I wouldn't doubt a possible $15-16 possible value next year.
BD Partners V 104,917 $ 13.2331 (1) Open Market Transaction
Becker Drapkin QP 179,126 $ 13.2331 (1) Open Market Transaction
Becker Drapkin, L.P. 24,861 $ 13.2331 (1) Open Market Transaction
BD Management 187,151 $ 13.2331 (1) Open Market Transaction
BD Partners V 54,060 $ 12.8066 (1) Open Market Transaction
Becker Drapkin QP 92,298 $ 12.8066 (1) Open Market Transaction
Becker Drapkin, L.P. 12,810 $ 12.8066 (1) Open Market Transaction
BD Management 96,432 $ 12.8066 (1) Open Market Transaction
BD Partners V 14,897 $ 12.5911 (1) Open Market Transaction
Becker Drapkin QP 25,433 $ 12.5911 (1) Open Market Transaction
Becker Drapkin, L.P. 3,530 $ 12.5911 (1) Open Market Transaction
BD Management 26,573 $ 12.5911 (1) Open Market Transaction
(1) Excluding commissions of $0.04 per share.
Thats a positive but does it outweigh the Chairman selling out & resigning ?
Still no 13d or another 8k showing any disagreement.
I would have thought that Drapkin would have to file a 13d on top of the form 4.
In any event, RT could & should have come out & said something more than they did.
I sold near the low. Possibly a mistake on my part.
But, my long term confidence in the ultimate turnaround is shaken. Its possible but if they dont turn sales fairly soon, they are looking at having to sell the rest of their owned land and possibly even selling below market private placement shares. Or a rights offering. Any of which would be a negative.
Seems like we ought to be trading higher than $4.22.
But, I guess the fear is that Lyle buys something the market doesnt like. The upside is if the market likes it, the stock could go higher.
I just want to make as much money as possible, as soon as possible.
Im a greedy shareholder I guess.
I dont see any reason why they would buy him out now. Sure, they consider him a pest but can they really justify paying anywhere near current market to buy him out when they dont have to ?
This is the 3rd year in a row he will fail to win a board seat and the dividend is not going to get 50.01%.
He is "stuck" because he has been unable to cash in any of his profit despite the massive run up in CBRL shares.
And he has given notice that he will sell if he doesnt win the board seats. (At least some)
Ideally, BH would be able to sell say 5-10% of their 19.9% for $100+.
But, if he starts selling in the open market, wouldnt CBRL go down in antcipation of his future sales ?
I guess what Im saying is it seems BH is "stuck" with an oversized position in CBRL.
It'd be great if the stock were able to continue higher while he slowly sells. Just not sure how reasonable that is.
11/04/2013 P 10,000 (4) A $ 14.108 399,501
4. Average price for the transaction reported. The shares comprising the transaction were purchased at prices ranging from $14.07 to $14.13.
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been with them since January 2002
Form 8-K for RUBY TUESDAY INC
Change in Directors or Principal Officers
ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Pursuant to this Form 8-K, the Company reports the departure of its Senior Vice President, Chief People Officer, Robert LeBoeuf, effective October 30, 2013.
So the dividend is almost certainly dead in the water.
While it wasn't a boatload, perhaps I should have given it more weight.
Still, hard to believe they had such a bad quarter versus the prior year.
A good x-mas might get us back to $18-19 but the mid $20s seems a year + away.
We're very enthusiastic about this Christmas season as we have made so much progress. And as our company continues to gain experience and accelerate our momentum, we're equally enthusiastic about our future. We're going to this right and we're going to rebuild this company to last.
99% lose money while trying to get rich.