Joe, this is dad. Immediately get on the horn and try to find out who is selling, and I mean now! Then make a few calls and try to find out why no one is believing our story and buying our stock. I then want you to call David L. to see how many shares he owns.
Why only St. Louis Plant expansion corp news release and no corp news release on all the plant closures. Was this an attempt at a head fake that there is a real strategy?
Wait until that law firm from NY gets a hold of the books and sees the tremendous breach of fiduciary responsibility displayed by the RJB, Sr. Nepotism, fat salaries, free shares, bonuses, no separation of CEO and BOD, BOD filled with Yes People, etc. He runs this company like he lives in Russia and he has no shareholders. Is that tic tic tic tic goes the legal time bomb I am hearing? He has cost a lot of people a lot of money with the precipitous drop in share price all the while pulling seven figure comp packages for him and his kids. I wonder if the Gors people contacted this law firm? Or maybe IP? Time will tell especially if someone steps up as the lead plaintiff.
Another Cenveo legal issue hits the wires. Hey Bo Young, Bob wants (needs) his money! Pay up! The minority business deal is done, caput. No one is buying that line of BS anymore!
On another note, if the old man died tomorrow, he leaves a legacy of about $1.2 Billion in debt to the boys. Shameful. He is so deep in this his only option is to grab all the cash he can for himself, his children and the others in his family. Let's wait to see where this pending lawsuit goes with Levi and Kaminski. Looks like a slam dunk breach of fiduciary responsibility to the shareholders. This applies to a lot of us employees that had bought stock over the years. The average CEO in the US makes approx. $180,000.00 per year. Bob has averaged about $6 Million over the last 4 years and the stock price has gone no where but down. This coupled with the salary the kids get, and not to mention any in-laws that may be on the dole, we are talking millions and millions of dollars in personal wealth and gain. All while the common employee gets squeezed repeatedly. No 401K match, horrible benefits, no job security, and no raises. With no raises alone, every year you loose money due to inflation. Terrible.
May have to change his name to Humpty Dumping!
Regarding the coerced share purchase pressure, I think he thinks it does two things:
-locks people into the company
-takes more outstanding shares out of the market
Me thinks he's worried about an ugly proxy fight. I think he #$%$ off IP and the guys who owned National and I bet that they are coming for him. Rumor has it that the Gors guys have real deep pockets and my guess is that they alerted that law firm into looking at the breach of fiduciary responsibility to shareholders. Could very well get interesting.
management should be nervous! This does not happen to up front companies with ethics and a separation of power between the COB and the CEO. This actually has teeth! What else would you expect management to say. Given the chance, they would throw Humpty Dumpty right under the bus.
Interesting how the 6 month lock-up ended and the all of a sudden bashers/short sellers show up in full force and the company is potentially facing legal action for a breach of shareholder's fiduciary responsibility. Seems way too coincidental if you ask me. Regardless of what the published financials say (few read them), when the facts of his reign of greed are brought to the attention of the masses, he could rank right up there as one of the worst of the worst. It is so funny how the President of UCONN cozied right up to him in the wake of the infamous January 20, 2011 letter to the college reneging on his contributions to the school. Obvious she was swayed by the almighty dollar or obviously didn't do her homework or didn't care.
I challenge anyone to draw a graph that charts the last 10 years of share price performance as it relates to Robert, Sr. income. Then add each of his sons and what they have made over the past few years. We are talking millions peeps and the stock price remains under serious pressure. My husband and I really feel as though there is a case for this class action lawsuit to move forward. Our retirement has been hurt by this man.
Spammers from India are in complete control of this board! Lots of bogus posts.
Here is what I would say happened in Shelbyville. Local HR told by regional HR what the plan is by regional VP. Then regional VP is over-ridden by one of Robert's boys who see this as a cost save that they could run to daddy with. News flash, they just don't care about you! You are nothing to them!
I can't wait for people to start lining up to create a class action lawsuit against Cenveo for a breach of fiduciary responsibility. My guess is that IP and Gors is behind this. All the institutional investors will jump on Burton's back. Just getting interesting. Hopefully he will crash and burn upon re-entry!
So coincidental, I suggested that this happen a few days ago. Won't matter, Robert is above the law (cough cough) and is guided by nepotism
The average CEO in the US has a $189,000.00 per year salary when they are profitable. Up until 2012h I think he made $9 Million as the stock tanked. He promoted all the boys (an rumor has it other family members) and their is no separation of CEO and Chairman of the Board.
You tell me if there is a breach of fiduciary responsibility. I can't wait for the Annual Report to be releaseed8K and 10Q will say it all.
You want to see amusing, Google search Robert Burton letter to UCONN. It is about 7 pages, read it and try to get through it with out either busting our laughing be being completely disgusted. When you roll this all up into one, you realize that you can't embarrass this guy and it is all about the money and greed. Who writes letters like this?
Down $.11 today and almost at the $3.00 mark again? Who is dumping now? I thought all the shares issued when National was acquired were sold earlier this week. Anyone have any answers? The selling couldn't possibly be based upon fundamentals could it? Not with the best management team in business running things!
Announcement made this morning regarding the St. Louis Plant expansion but no mention of any of the plant closures announced. Boyz, only tell them the good news, the good news boyz! Okay dad!
Bob is still blaming our friends at National Envelope for his pain, LOL. Who does that? Stock was tanking for the past few weeks and dips below $3.00 post lock-up of the shares given to National Envelope (Gors) because they couldn't wait to bale on the POS. I wonder who he is going to blame for low pricing next. Can he really blame anyone but himself? When will he blame David L, low-baller of low-ballers? One question for Robert, how many shares does David own? Good question! Funny how no one wants his work in our operation! How does he get away with this?
Folks, Bob is unable to comprehend the horrible mess he got Cenveo into because his plan imploded. Now the only thing left is grab a large salary and bonus and take care of the kids, in-laws, and his minion board members.
Swallow this Bob, UCONN men's basketball wins championship, you are not involved! UCONN women's basketball wins championship, you are not involved. UCONN men's football is horrible, and you are involved! See a pattern?
So many people lost so much money under your rule that you really need to resign! We know that won't happen so the only other choice would be to simply pass peacefully one summer night. This way the company doesn't have to pay a huge separation package. But a proxy to gain control would be well worth the price to see you get the boot!
Shareholder Derivative Lawsuit:
A shareholder derivative suit is a lawsuit brought by a shareholder on behalf of a corporation against a third party. Often, the third party is an insider of the corporation, such as an executive officer or director. Shareholder derivative suits are unique because under traditional corporate law, management is responsible for bringing and defending the corporation against suit. Shareholder derivative suits permit a shareholder to initiate a suit when management has failed to do so. Because[clarification needed] derivative suits vary the traditional roles of management and shareholders, many jurisdictions have implemented various procedural requirements to derivative suits.
Purpose and difficulties
Under traditional corporate business law, shareholders are the owners of a corporation. However, they are not empowered to control the day-to-day operations of the corporation. Instead, shareholders appoint directors, and the directors in turn appoint officers or executives to manage day-to-day operations.
Derivative suits permit a shareholder to bring an action in the name of the corporation against parties allegedly causing harm to the corporation. If the directors, officers, or employees of the corporation are not willing to file an action, a shareholder may first petition them to proceed. If such petition fails, the shareholder may take it upon himself to bring an action on behalf of the corporation. Any proceeds of a successful action are awarded to the corporation and not to the individual shareholders that initiate the action.
Hearing that Mohawk paper is buying more machines to run plain goods. First IP shutters Humpty Dumpty and closes the AL plant, and now Mohawk is running plain goods. Reminds me of when the boys on the playground used to play "pile on fatty".
This greed monger and is family has to be one of the most hated groups of corporate leaders in the entire country. If Bob died tomorrow, no one would care except the boys firmly seated on the gravy train. Who is the successor? Is a proxy fight looming?
$2.89 shr, gulp! Time to shut more plants and can more people so you know who can grab the big fat paycheck and garner more free shares. Oh, and let's not forget the kids and their big fat cushy salaries. All told this family must rake over $10 Million from the sweat of others. The true testament to any company is share price. I would have to say that the best management team in the business don't look too good!
Ol' Bob was right, stock will have a "2" in front of it. $2.96 as we speak!
A bevy of nursery rhymes come to mind:
Chicken Little, the sky is falling
Humpty Dumpty, had a great fall
Goldilocks, the three bears (Mikey, Joey, and Bobby)
Old Mother Hubbard, the cupboards were bare
Errrrrnt, errrrrnt, errrrrnt, all hands on deck, all hands on deck! The ship is closing in on a "2"! Time for more free shares to average down and time for more promotions of the boys and why not some raises! All in the face of plant closings nonetheless. This is really in your face behavior and sub-human treatment to all the hard workers. Show your face Humpty!
Who hired to spammer company to post rubbish on this message board all day long to contaminate the board? I wonder if the was another family member that Humpty is supporting?
Tale of the tape will be soon. Soft Q! and looks to be a slow April and May. Perfect time to announce closures and cut costs. Everyone needs to pay close attention to the 10K that comes out. Another Burton kid was promoted so his comp plan should be made public, but maybe not until next year. Let's wait and see!
All I know is that we are looking at a warming trend so now my husband and I can start taking our walks again. It was a brutal winter for most of use and we aren't used to that cold weather. I actually had to go out and by a new winter coat and hopefully I won't need that again, ever!
Family greed doesn't stop with his sons, I think the in-laws are also on the dole as they are possibly getting paid for running one or two facilities, from CT funny enough! There is a lot that won't appear on the books as it is reportable on the 8K and the 10Q.When was the last time Humpty even showed up at the office? Rumor has it he doesn't even come in anymore. Prediction, wait until the proxy fight hits and the books are finally open for everyone to see. Trouble is Humpty is running this publicly traded company like a family business and he has thumbed his nose at all the share holders outside of his little circle for years.
Message to all the other employees, don't buy a new car or put money down on a house just yet. Market got soft again, prices will lower and paper price increases may be absorbed to keep the machines running. So much for buying market share and raising prices, LOL. His plan is iffy at best with a booming market, now what? Best management team in the business, where are you?
Stock price is going to have a "2" in front of it, LOL!
Market cap once again around $200 Million. Didn't sonny boy the president talk pop into the $240 Million Commercial deal with the Crystal's? Deserves a raise and bonus, no?
Where will the next ax fall? Just ask the "best management team in the business".
Certainly by mentioning Joe B. you mean Joe Besser of the Three Stooges! As was in real life, he is the dumbest, fattest, picked on the most stooge.