How did it go? Sorry I couldn't make it but I figured I could drink water and eat bread at home with out all the traveling. I heard Bob has a nice place. What plant manager was made to cut the grass?
What could it be? Tell us please. My guess is horrible prelim numbers from all sectors. Envelope prices tanked to keep the plants running. Next out the door, the current managers that will be held responsible. No excuses! Won't look to good in July either. Plant closings? What location would be next? Nervous times for sure! Will there be a company picnic? I heard they are serving the left over bones from Bob's bone-in ribeye from the Capital Grill.
Share price tanking until next quarter's bonuses are paid and the insider buying continues. Humpty Dumpty will have a great fall. Most envelope plants are screaming for work and the price drop in the market place carries a take anything at any price mentality. Q2 nimbers are going to suffer and the financial markets know this. I predict it closes at or near $1.80 this week. Who will be the next senior manager to get canned?
Spin being developed as we speak. Boys, get in here... Make sure you tell everyone who asks that Statler was terminated.
Who will be next? Most likely a VP manager from the envelope division. Statler was a good guy but most have finally had enough. Guys like this don't leave without taking people and clients. Maybe not right away but in a few weeks.
How many shares does D Law own? How many plant managers are forced to bump orders from good accounts for his low margin garbage? Answer is most every one.
Does anyone remember a few years ago when David was getting baked on this chat board and he blew his cover and stuck up for himself demanding an apology? That was so funny. If for nothing else, it showed that he was active on this message board. Is he still lurking in the wings?
Plants are sucking wind, little work to run and it looks like pants are being dropped regarding pricing. Bob needs full plants and higher prices, ain't happening in my view. Second quarter may need a staff reduction to cut overhead. Who is the next one to be led through the door of shame?
Market Cap - $134.16 Million, paid $235 Million to the Crystals for Commercial Envelope
Profit Margin - -4.3%
Cash on Hand - $14 Million
Revenue - $1.95 Billion
Cash to Revenue Ratio - .007
Total Debt - $1.23 Billion
These are solid numbers!
Blob, what do you say to the shareholders that are way way way underwater on this pipedream yet you and your spawn rob the piggy bank by taking huge salaries and compensation packages? My guess would be that you think you earned it for steering the Titanic through troubled waters yet it's your ice machine spewing out the icebergs. I smell under 2 bucks and it stinks. Best management team in the business you say? I couldn't imagine where the share price would be with the worst management team in the business! Who can detect the sarcasm?
And one more question, when will the CEO and the COB positions be split up like most publicly traded companies? My guess would be when you promote one of your spawn to fill that position. You would obviously need a puppet on strings for that. I can't wait for retirement, mine and yours.
A quote from the Business Wire article:
“Standard Register has a fundamentally stable underlying business with a large, diverse customer base and a strong portfolio of solutions that include integrated communications, product marking and decoration (labels), document management, promotional marketing and technology/professional services, but our ability to invest in growth has been hampered by our debt structure and legacy liabilities,” said Joseph P. Morgan, Jr., president and chief executive officer.
“In response to the traditional print market decline, Standard Register repositioned itself as a market focused integrated communications provider where today, the majority of both revenue and profit are being derived.”
“The Board and management team have conducted a rigorous assessment of all of our strategic options and believe that this process represents the best possible solution for Standard Register. We are grateful for the support of our lenders and have sufficient financing to fund our operations as we complete a process that should result in greater flexibility for investment in the future,” concluded Mr. Morgan. “We are thankful to our dedicated employees who continue to work diligently to deliver value and a high level of customer service.”
Yeah, SO fundamentally stable that you clowns went belly up. Shareholders are left holding the bag. Can this happen elsewhere in the industry, hint hint?
Bob - what is your plan for shareholders and shareholder value? Not gobbledygoob, a plan! What is it? Hoping and dreaming isn't working! How about it is time to fire the kids, then resign and bring in operators!
Bear in mind that there are a lot of 1,800 sq ft $1,000,000.00 + cape cods. Makes one wonder what Sr's house is worth. Report also said that there is a mansion glut in Greenwich. Could you imagine if you can't sell you stock because no one wants it and then you can't sell your house because no one wants it.
Off to church, maybe I will see Bob and his spawn there praying for more money and less oversight.
Forgive me if I and wrong but the share count does not matter with this type of legal recourse. Any shareholder can file a Shareholder Derivative Lawsuit. Cenveo seems to be the poster child for this type of action and an example of the exact reason that it was put in place to begin with. It doesn't matter who the largest shareholder is.
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.
Does this fit the bill or what? Holy cow!
Simple free3891, they hemorrhaging money with a crippling debt load all the while the COB and CEO, who by the way are the same person, along with his three sons grab huge compensation packages and continue to grind all the employees under their heels. Rumor has it that there has been some, well let's just call it troubling, things going on Stamford.
Will he be able to do this call with a straight face? I would imagine he is practicing some throat clearing right about now.
Will David L be a guest introductee on this call? Will they let Joe speak? Will anyone be allowed to ask him about the dropping share price? Will anyone be allowed to ask him about corporate governance and the separation of the COB and CEO position? Will anyone question the nepotism? Will anyone question the 6 figure compensations in the face of the company hemorrhaging millions? And what is going on with that supposed embedded intern that "uhocenveo" mentioned? Is there a skeleton in the closet? Will the call be webcasted to all employees? Since so many employees are shareholders, will he field questions from the rank and file? Will he estimate what the monthly savings will be by cutting all the sales reps commission numbers?
Roche must be eyeing this up and for good reason! Why would Activis want to market a generic if the drug was not selling as some on this board claim!
Shorts will get burned and then head back to Israel...