Consider them worthless...I don't expect Dov will be pulling any more rabbits out of the hat, and in the process of emerging from bankruptcy common shares were wiped out.
Well, actually Dov has expressed plans to start a competitor... But thats a tale for another day, and another set of shareholders.
Well, there's the first sociopath heard from...."Irish" should be coming along any minute now.
Yeah, I admit I blew $400 on 10,000 shares last week. Like I posted at the time, it was definitely a gamble, hoping at the judge would side with Dov. Now, given the track record of current management, I expect everything will be getting auctioned off within two years.
I hope nobody followed your advice. Following the latest news, I bought 10 thousand shares at 4 cents per. Well, it's still a long shot, but the odds are looking a lot better than Powerball nowadays (on which I confess to squandering two dollars).
Some people are keeping the stock, on the gamble that Dov will reappear with fresh capital and regain control of the company, as he is trying to do according to a news report or two. That would be good, or at least better than present situation. The chances of it happening? Pretty slim, which is why shares sell for 3 cents instead of a dollar.
I doubt that American Apparel can turn around under current management, but even if that ultimately happens, the bankruptcy plan calls for common shareholders to be wiped out.
I'm speaking as a customer of First Niagara, not a shareholder. I originally had an account with the money--laundering criminals at HSBC, and was in the process of relocating my funds when the news came that First Niagara was taking over HSBC upstate NY branches.
All well and good: a reputable regional bank, and they've worked out OK over the past few years.
Now along comes Key Bank-- looks like the more typical bunch of Wise guy bankers who had to ger bailed out with tarp funds. In other words, who needs them? I wouldn't mind if Senator Schumer manages to squelch the deal, although since he's more talk than action, I doubt anything will come of his pronouncements.
Good article. I finished it with some more understanding of Dov's recent actions: his bitterness and plans of revenge. He's still an oversexed idiot who shot himself in the foot ( if not the groin; figuratively speaking) but the opposing parties certainly come across as a bunch of snakes and backstabbers. Practically nobody is looking good in this sordid saga.
I don't know what would save the company at this point. Not outsourcing...although the idea of throwing everybody at the L.A. Factory out of work seems to appeal to some posters here.
I did somewhat facetiously suggest that Trump buy the factory to bring production pf his clothing line to America. The serious side of that proposal is that somebody-like The Donald- could contract with AA to produce a made in America line. i believe Levi's has a similar arrangement in the Seatle are?
Yeah, sleaze is how a lot of clothes get marketed. Sex, heroin chic, half-naked pre-teens, anorexics...everybody has their gimmick. At least APPs models are over 18 and look healthy. I certainly don't see where the Made in America label would be a negative nowadays. If Dov hadn't mixed business with pleasure ( or vice versa) the ads wouldn't be an issue.
Oh, I dunno. Some liberals do OK. Ben and Jerry, maybe Bill Gates.
If Dov had been able to keep his zipper closed, we might not be in this pickle.
How about You move a half mile off shore, and then sink?
Sure, offshore the company whose whole image is based on sweatshop-free American manufacturing. Or used to be...I was watching some sitcom at the gym (unfortunately I didn't catch the name, but it was some sort of "Friends" clone) and a joke was cracked about "that creepy guy who owns American Apparel". Not good for sales when Dov's shenanigans become a pop culture reference.
Again, go invest in Nike. .I don't want to be making a profit off slave labor, even if it means my money in APP goes down with the ship.
Maybe Trump can buy the company, and have APP produce his clothing line, currently made in China and Mexico. Just a thought: at least he'd be putting his money where his mouth is when he talks about bringing jobs back to the USA.
At the risk of sounding cynical...I can think of other companies where they'd deal with calls for unionization by laying off the "agitators" . I hope that's not happening here.
Yeah. They can ship everything in red white and blue packaging, with "designed in the USA" in big letters, maybe stick a American flag next to that, and then in tiny letters at the bottom they can show Made in China. Might have to get rid of that Sweatshop Free slogan though.
Where's Jack Abramoff when we need him? Are the Marianas still open for business?
All kidding aside: I think there's still a customer base to support at least One domestic manufacturer...and if I don't get as rich as Phil Knight, that's OK.
I'm in agreement today. I bought some more at .65 Nice to see some polite rational posts instead of the usual "dirty dozens"--I guess the prospect of making money removes some of the rancor.
"Levi & Korsinsky is investigating the Board of Directors of Xyratex Ltd. (“Xyratex” or “the Company”) (XRTX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Seagate Technology plc (STX)."
At one time I held some shares of Transmeta: where under similar circumstances these guys appeared with a great amount of fanfare, managed to get themselves paid off, and then quietly folded their tents leaving the shareholders no better off than before.
Yes, funny how the government that was successfully spying on millions of Americans, eavesdropping on foreign leaders and in other ways displaying quite a bit of technological expertise couldn't manage to get the ACA site up and running properly.
Anyway, thanks for the comments. I won't be back every day to post: after all, unlike a certain other party we know I'm not "living in luxury on Sea Island", with nothing to occupy my time but trolling the APP board under 20 different aliases.
The key word in my original post is "eventually". As I've done before, I expect to sell at a profit, modest or not, within 6 months. As I did last time, I named the day I bought in, and I expect to name the day I sell. If APP never rises above 1.32 again, then the Crazed Celt can have the last laugh.
I've noticed a rather heartening trend amongst retailers and manufacturers of emphasizing their American-Made products or at least American-Designed products. As to the latter, one often sees packaging marked "Designed in The USA, Made in China", even when the contents are some cheap knick-knack for which any "design team" is a copywriter's invention.
Anyway, my observation is that Made In America is now a definite selling point. Probably the Millennials (so-called) have figured out that years of out-sourcing our manufacturing to China has resulted in their dismal chances of finding decent jobs. Maybe their elders have finally wised up too, although I wouldn't count on it.
On To American Apparel. Designed in America, Made in America with American Materials. I like that concept, and in addition I think the share price will ultimately benefit from it. So I'm back in at an average of $1.32 a share. Just an announcement possibly of no interest to anybody but myself: I don't know how many other posters are on this board beside the Mad Mick and his various aliases, but unlike him I'm not going to claim great victories after the fact. I'm in at 1.32, and as before I intend to eventually sell at a profit and then laugh in that Hibernian Horsethief's face.
Soule, if I haven't already sometime in the distant past, a quick note of thanks for drawing my attention to XRTX, which I bought into deeply after some due diligence. This would have been a few years back on the STX board. I don't know where the shares are headed now: we seem to be in the hands of the chart monkeys to quote a certain self-appointed sage on another board. I decided to remove the element of doubt by cashing in today with a respectable profit, and will perhaps return if price drops.
Your comments are dead on. . A friend who still lists on Ebay just forwarded me an email from Donahoe. The whole thing won't "fit", but I'll paste a couple of relevant paragraphs below. It certainly reads like Donahoe is terribly concerned about those Mom and Pop sellers, although his actions over the past years have demonstrated just the opposite. What a mealy-mouthed phony that guy is.
...Big national retailers are aggressively lobbying Congress to pass online sales tax legislation to "level the playing field" with Amazon. And, as they compete with big retail, Amazon is advocating for this legislation too, while at the same time they are seeking local tax exemptions across the country to build warehouses. This is a "big retail battle" in which small businesses and consumers have a lot to lose. But eBay is fighting, as we have for more than 15 years, to protect small online businesses and sellers and ensure healthy competition, value, and selection that benefit consumers online.
The solution is simple: if Congress passes online sales tax legislation, we believe small businesses with less than 50 employees or less than $10 million in annual out-of-state sales should be exempt from the burden of collecting sales taxes nationwide. To put that in perspective, Amazon does more than $10 million in sales every 90 minutes. So we believe this is a reasonable exemption to protect small online businesses. That's what we're fighting for, and what big companies such as Amazon are fighting against.
Why would Yahoo want to delete the post?
In any case, it seems that this is not so much a net loss of 320 jobs as a shifting of some or all of said jobs from American workers to lower wage workers in Mexico. I'm not thrilled about it, but I doubt anybody on Wall Street is going to mind.
Guys, I don't know anything about the current state of Kimball International, but I do know something about pianos.
Kimball was originally owned by the Kimball Family. In about 1960 the family sold the business to the Habigs, and the resulting company was renamed Kimball International, I suppose to capitalize on the fame of the Kimball name. In recent years they owned the famous Bosendorfer Company of Austria, and under the original family made some forays into production of pipe organs and phonographs.
So there's quite a history there, but their "heritage" lies mostly in mass producing moderately priced pianos. Its hard to find a piano tuner or serious musician, with a high opinion of Kimballs. Nor a piano dealer--unless they're trying to Sell you a Kimball, of course.
I would never have heard of this stock, except that I'm getting spam emails every day telling me how its about to "take off". Always a sign of desperation, and the fact that at least one of the emails came from a server in Russia is even more of a danger signal.