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Cumulus Media Inc. (CMLS) Message Board

tmcg1367 6 posts  |  Last Activity: Mar 9, 2015 1:09 PM Member since: Sep 22, 2004
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  • Reply to


    by cashewking05301 Mar 9, 2015 10:38 AM
    tmcg1367 tmcg1367 Mar 9, 2015 11:06 AM Flag

    And they are still running the company! Now, watch the Yahoo "Headlines" section fill up with lawyers jumping on the class action lawsuit bandwagon.

  • Perhaps one other reason for the decline in price is management's comments on their remediation businesses. Terra and Magnus incurred costs this past quarter for expansion into new markets and down time as winter weather affects their business; the new markets are mostly in the south. Terra also is involved in a lawsuit over extra work about which the insurance company and customer are in disagreement.

    The people that run GLDD just dumped their demolition business and now they seem to have fallen in love with another business line. They were involved with demolition because it was in some of the work GLDD had done. That is the same reason they bought Terra. it having been a subcontractor on some of their jobs. I believe there was even mention that some work at Magnus was booked in a different manner than GLDD books things as Magnus uses a different accounting method. Wasn't that one of the problems at NASDI and Yankee Environmental, they used different accounting practices? Remediation sounds to me like pollution and toxic waste, which also sounds like lawsuits. You all may be too young to remember, but Waste Management used to have a subsidiary called Chemical Waste Management. The subsidiary was spun-off, perhaps to protect the parent company, I don't know for sure, but it eventually went into bankruptcy. I am not saying we face the same fate, but I don't know why management did not stick to dredging.

    To be continued...

  • Reply to

    Reason for price drop?

    by tmcg1367 Mar 5, 2015 6:31 PM
    tmcg1367 tmcg1367 Mar 5, 2015 6:52 PM Flag


    I hope this new line of work is profitable and successful. I have been in GLDD for a few years now and will stick around for another quarter or two. If there is no progress or more problems with the remediation businesses, I will be out. One other point, Starboard Capital is an activist investor that buys into companies that have a main, profitable business, but waste money trying to expand into other businesses that do not make money. Starboard then agitates to have the unprofitable businesses sold and the cash flow used to improve the main business, pay off debt, pay a dividend and/or buy in stock. They are successful in increasing the price of the stock. I hope Starboard is sniffing around Great Lakes Dredge and Dock.

    Good luck all, we are in the same boat.

  • Reply to

    In a year this restructuring

    by dr_ooopha Mar 9, 2015 12:37 PM
    tmcg1367 tmcg1367 Mar 9, 2015 1:09 PM Flag

    I don't understand why the people that put the company in this situation are still running it. The problem doesn't seem to be a question of money, but one of operation and execution.

  • Reply to

    Reason for price drop?

    by tmcg1367 Mar 5, 2015 6:31 PM
    tmcg1367 tmcg1367 Mar 9, 2015 1:01 PM Flag

    They did exit the two companies in demolition, but they bought two companies involved in environmental and remediation services; one a year or so ago and the larger purchase just recently. GLDD is pouring money into expanding these new businesses. I wish they would start paying a dividend like they used to do and not expand outside of their core competencies.

  • Reply to

    Who can tell with these stocks anymore.

    by parsimonious_one Feb 26, 2015 9:47 AM
    tmcg1367 tmcg1367 Feb 26, 2015 12:20 PM Flag

    Sometimes, investors cash in when a company reaches a milestone. Dexcom just became profitable and that might have been what some had been targeting. I hope you are correct about DXCM not remaining independent in 2015.

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