Did a major poly patch supplier cut them off because they didn't pay their bills? If so, how can they buy window film to put on their envelopes? Begs to ask what other suppliers aren't getting paid if this is true.
Hit $2.16 this morning. What next? One more company announcement and this thing may drop below $2.00. I would imagine that suppliers are very nervous, clients are even more nervous and the cost to outsource what they can't run in house could really affect Q3. The days of Sr pounding his fist and demanding answers and a higher share price visa vi cost cuts are gone. The market cap is approaching a level that is half as much as what they paid for Commercial Envelope. Can you say the best management team in the business? I understand that the sales group is now embarrassed to say they work for the company. It is starting to look like National Envelope in their final days.
My guess is Sr thought the share price would go higher on the news. Wrong! The new 52 week low is only about 40 cents from the all time low. Share price is approaching Reilly territory that was pre-Burton acquisition. Where has all the money gone? My guess is that all the Burton comp plus the yes people on the board and other family members have probably pulled out over a $100,000,000.00 in cash, stock and benefits over the past several years.
Question, are the suppliers getting paid? If so, paid on time? Are there any cash with order suppliers? Anyone stop the flow of supplies as of yet? Are orders being shipped on time? Were any jobs pulled because of raw material issues? All worth while questions!
Holy robin eggs Batman, what is happening? Down $115,664,400.00 in market cap in the last year alone? Market cap is now $150,000,000.00? About $80,000,000.00 less than what was paid for Commercial Envelope? Can you say "Best Management Team in the Business"?
Not so fast, I think Cenveo did the same thing last year. They split $9 Million between employees, 4 of them to be exact, Sr. Jr., Mikey and Joey. My guess is that Mac will have another extraordinary year with all of the customers jumping ship. Next down tick in the DOW and we see sub $2.20 on the share price. By the way, I had another post deleted yesterday! I did nothing but speak the truth.
Is Yahoo practicing censorship at the insistence of Cenveo because people are on this board speaking the truth about the share price, character's of the family running the show and the overall state of the union including morale? Let's hope not, the truth needs to be spoken about. They have hurt a lot of people financially and morally. The reality is, I have never in all my life experienced such detest and venom towards anyone else like this board shows towards Sr. and it is so well deserved. All you need to do is look at the balance sheet and then pull up the annual report and see what he makes in the face of a floundering company.
Are you serious? He justifies the pillaging by donating to UCONN, and then he invites the president to join the board of CVO so that she can collect her fat BOD comp and keeps her trap shut about the obnoxious letter he sent to the college after they hired the coach from Syracuse that refused to make his son the captain while he went to school there. Guess who got the nod as the team captain? Donovan McNabb!
There goes another $676,400.00 out the window. Looks like the investor meetings didn't go too well. They probably had to try to answer some real tough questions, questions that are not allowed to be asked on the quarterly earnings calls where all the calls are screened. Pass the opener, I am having trouble with this can of worms!
Market Cap is now below $159,000,000.00, book value is a -8.11 and the short ration is 15.70. I would expect that the creditors are making calls, institutional investors and money managers are making calls and suppliers are nervous as hell. Snow ball effect starting on a steep slippery snow cover mountain? Everyone hopes that they get what they deserve and worse. But let's not forget that the Burton's sucked so much cash out of this they all got rich.
Cenveo lost almost 25% of it's market cap since Michael the Boy Blunder became President of Envelope. That equates to about $50,000,000.00 in real value. Regardless of these horrific numbers, Poppa Bear and the Three Baby Bears will take out millions in personal income. To that point, Levi and Korinsky can't file shareholders derivative suit against them soon enough. This person greed streak has to end now.
Share price is the greatest indicator of a CEO's successes. The 52 week low tells the whole story!
Last week I predicted a close below $2.40 before the end of the quarter, we are almost there!
STAMFORD, Conn., Sept. 16, 2014 /PRNewswire/ -- Cenveo, Inc. (CVO) announced today it will be participating in a few upcoming investor conferences during the month of September. Cenveo will present at the Imperial Capital Global Opportunities Conference in New York City on Thursday, September 18, 2014 with a presentation scheduled for 1:45pm Eastern Time. Additionally, Cenveo will be presenting at the Deutsche Bank Leveraged Finance Conference to be held in Scottsdale, AZ from Monday, September 29, 2014 through Wednesday, October 1, 2014 with a presentation scheduled for 10:45am Mountain Time on Wednesday, October 1.
I can't wait to hear the feedback on this! When they pleaded their case on 9/18, the stock started heading south. Looks like no one likes what they have to say in AZ either. I would imagine that the traveling circus is getting some very hard questions thrown at them and they are sputtering. My advise would have been to keep Sr. and Joe away from the conference. They have the ability to embarrass themselves and everyone around them.
Hit $2.62 today, say it isn't so Best Management Team in the Business! My guess is under $2.40 by next week, been right so far. The market cap is about $50,000,000.00 less than what they paid for Commercial Envelope. UCONN School of Business should do a case study on Humpty Dumpty and all the King's Men. Ooops not allowed, UCONN president sits on the Cenveo board now and collects her thousands to just say yes to Robert.
Stock came off its new 52 week low to close at $2.72 on heavy volume. Let's see what filings there are in the next few days to see who was buying this today. Humpty and all the king's donkeys!