I LOOK FOOLISH? How about those of you who insist on calling me an insider when nothing could be further from the trutrh?
Ok, though I'm NOT Vince, or any other insider, do you really think if I was, that I'd really care about what you think as it relates to my salary or bonus? Do you really think that your posts are going to get the management team fired, or that they won't have their contracts renewed, just because you don't think they should? And do you really think that anything you wrote would make me feel compelled to post to this board? Your view of your self importance, and others like you, is really comical.
They don't have "decreased work." They have decreased revenue, which you should completely understand based on your knowledge of POC. They have stated that while revenue will be down, they will be building more, and delivering more, than ever in their history. So a layoff would be suicide!
The CEO certainly DID say business will shrink this year. And then he said they expect it to resume its growth next year. I happen to believe it. If that makes me laughable, so be it. And I will agree that this "could be" dead money for all of this year. But, if they land a contract worth talking about, it could also run up quickly. So whether or not to own the stock is a personal choice every investor must make.
Not Vince, but what the hell. And for the record, the stock price in 2003, when I first bought CPI shares in their foillow on offering, was $4.00. And About five years ago, it was under $4.00. And if you've traded on the ups and downs of CPI, you've made a bundle, which is why those of us who have been around long enough are not worried!
And you've STILL never told us which customers they've lost! Certainly wasn't Spirit now, was it? Must be performing well for them. Sikorsky? No wait, they're a gold supplier to them. Please tell us all who they've lost as a customer?
I disagree that it's an accurate statement. Your assumption that by taking a cost reduction in order to produce another 100 - 200 new planes' worth of parts is weakness is incorrect, and not in keeping with normal aerospace practice.
Secondly, I didn't address those points because I believe your assessment is premature. Yes, you are correct. As of now, they have not landed any major contracts so far for 2013. But last year they brought on two major new customers, as they did the year before. So to trash them before the year is even half over seems a bit overzealous. You ARE ignoring the fact that they did receive a contract extension that will provide revenue (and likely significant revenue) for six more years.
Lastly, people are hammering this "disgraceful," useless," and "inept" management team, while this has been their first down year in seven or eight. These same people have grown this company from $8 million to $90 million. We're being told by Mr. Fred to expect this year to be lower, but then he has stated that they expect 2014 to return to their growth days. Given his track record, I think I'd give him the opportunity to show me that before I asked for his head on a platter.
Remember something. Stock price is not always indicative of a company's health. I'm not happy where the price is either, but the price being down while others are up isn't a reason to change management.
You have all voiced your opinion on this management team. Now why don't we just wait and see how it all turns out? If they don't come back in 2014, and the price continues to languish, if they don't record significant wins this year, and if they can't get any major commercial contracts in the next 18 months, I'll join your side. But would would you be willing to join mine if they did those things?
I can't help myself. That comment about cutting prices to get a contract extension is about as ignorant as it gets, considering you seem to be a fan of aerospace. ALL aerospace companies go through this for contract extensions. And considering that Spirit has had to take massive writeoffs on this particular program, wouldn't you expect that they'd be looking for price reductions from ALL their suppliers? It's common sense, not bad business on CPI's part!
And as one of the guys on the opposite side of most arguments with you, I concur. Darviris is nothing but a pumper who makes himself and the company look bad. Saying that he smells a contract coming is akin to saying that the sun will come up tomorrow. Even a broken clock is right twice a day.
Sorry, still not Vince. And I will repeat for you, I am a day trader. I am retired, and it entertains me. And you are correct, as I don't day trade CPI. That would not be possible. But I have a decent sized holding of this stock, as I have since I was introduced to it, and the management back in 2003.
So yes, I listen to every earnings call, and it takes about 4 seconds to find out the imtimate details of a stock that has traded 21,000 shares all day. Why don't you ever answer a question that YOU are asked? I asked if 1,200 shares constituted a sell off. I asked if one person unloading 9,900 shares is a sell off.
You and your compadres never answer a direct question when asked. You just spew what you want said, and ignore all else. Do you think the others on the board don't see that from you, and them?
Accuse me of being Vince. Smart people know I'm not, and large shareholders who have met with this managament team know they wouldn't be posting on chat boards. Because you say I'm Vince doesn't make it so. I could just as easily say you're George from Babylon. The difference is, George has shown he's a man and said that's who he is. You, Benson, and the rest that just make accusations have never justified it with first hand knowledge the way he has tried to. And for that, he gets my utmost respect. I don't have to agree with him, but I certainly respect him.
I don't know about you, but the call I listened to ended at 10:42. Since then, 1,200 shares have traded. Or maybe you mean the 9,900 share trade right before the call ended. Are you calling one trade a "sell off?" One person, making one trade, a sell off?
Nope. And he explained why, and that they still will! And since you worked there, you should know that they couldn't possible have it this quarter.
Why would I have to be an insider to know they got it as part of their bonus? A little due diligence would tell you that!
Yeah, yeah. Whatever. I'm not defending myself that I'm not Mr. Palazzolo anymore. Believe whatever you want. But those weren't "free" shares. It wasn't a stock grant. It was part of their bonus provision, in a year that net income was $11 million. It wasn't a gift, it was "earned," whether or not you think they deserved it.