Have you heard there will be "spot price increases" on about 25% of the product on Aug 15th ? Gone are the old days when Zep had good products at lower than market average prices. Wonder how much business will be lost due to the price increases this time ?
will probably open around 11am, none of us will get at the $24 price. Probably not a good strategy to buy most ipo early on, let the dust settle and then get in for however long you want, short time flip, or long term buy and hold.
I always wished that Sears had never owned Lands End. LE is now struggling, and going to be very hard to turn this company around, I still buy their products, but would not buy their stock.
half of the total facility at Amrep is burned away, my guess is a couple of filling lines are gone, this may take quite a while to recover from
I have been 100% comm for more than 3 decades, I dont sell any other companies product, but for various reasons, I dont work for Zep as hard as I once did many years ago.
You dont know about the reps in California filing a suit against the company in 2010 ? Luckily that info has not been kept quiet from all, even though the company probably has tried.
I think because the only reason they had anything positive was the addition on the vehicle care div. They used those numbers from a very recent transaction/addition to the company for the only reason to look good. The legacy business that we all know from years past is not doing well, and even the distribution business was down.
and you wonder why the company is trying to hold your possible annual bonus if you are not willing to sign their agreement to go into arbitration with their selection of arbitrators rather than file a lawsuit against them in the future? Who ever files a lawsuit against their employer unless something is really wrong in the first place? Obviously those reps that usually get a bonus find themslefes in a position that they have to sign their agreement, the rest dont.
What do you want to know ? He couldnt turn NASS around or make any improvements and for now they have shifted him into another position to work on some type of strategy to figure out how distribution biz with salesrep help can work together in harmony. The future for reps looks very cloudy at best, guess some of the predictions years ago of this happening were not too far off base. Price increases comming, reps are making less money, customers are shopping, the business as many have known is also changing. Not a good outlook for those folks that still have years to go before retirement.
You really think Zep Commercial products are too expensive ? A lot cheaper than the supposed cost of goods the reps are burdened with to then mark up products they sell to their customers. Service reps bring to the table only goes so far, most customers are now finding the time to shop around online, and they can find some amazing pricing if they have the time to look and act. For younger reps at Zep, this business to business sales model will not last too many more years, dont believe what mngt tells you. Just look at where Moffett has now been assigned, working with others at Zep to increase the companies distribution model, and out as president of national sales & service.
May as well, Kimball already has plenty of past zep reps & mngt over there, just dont tell them in advance what they are getting for their money.
Of course Morgan wasnt going to tell everyone that Moffett couldnt get the job done, but we all know the truth, and thats exactly what happened. There are factors at our customers that no one at Zep can control, but most reps have little desire to bust their butts for mother zep the last couple of years, and we no longer can blame things on sap, but please get the IT issue corrected once and for all.
additional cuts may not have been today, but may be on Friday. I know of a few folks for sure in a variety of different depts that got fired last Friday, but I wont name them on this site. Most that I know of were in the Atlanta area offices.