All the good people that are left need to be worried. The managers that were good people and who were vocal early on about how they hate the Burtons have gone from sipping the Kool-Aid to gulping it. People are expendable. They fire you and never look back. How inhumane. Animals are treated better. These managers justify it in their own minds by saying that it is their job and they hate to do it but the carnage continues. The managers are now numb in an effort to preserve their own tails. Humpty will continue to suck millions out of the company along with his family and guys like David L. So sad. God has a plan for these people!
I heard it was a BYOB, BYOF, BYOC, BYOW BYOP. And that Mark H piñata was the best! It was filled with nothing so when it broke, everyone got nothing.
Less than they paid for Commercial Envelope; now that's so funny! I think Michael, the President put that deal together. Funnier yet. I think bonuses are in order for all Burtons. Ones that are on the books and off the books (SEC filings).
Share price heading south, anyone surprised? Retooling of operations isn't going so well by many accounts. One of these bullish analysts needs to investigate and report about on time deliveries. They may change their tune! Recipe for huge bonuses, why not?
The last bullish article on CVO was written by one of the institutions that own the stock, they have no choice but to like it. Noticeably absent from the article was any data obtained from their clients. Just ask them how CVO is doing and they will tell you how much business was pulled out over the last few weeks. If one of our sales managers or VP's have not visited you in the past few weeks, your business is not that important. With the latest round of re-fi, good ol Robert has talking points at least for the next 3 quarters. This new found breathing room should result in a nice bonus for he and his family. Performance will tell all and indications are that most everything is late coming out of the envelope plants. Thank goodness I am distant to that, I hear it is God awful.
Makes over $4 Million per year and buys $102,000.00 in shares. Even at 4x per year, he is buying about 10% of his income in stock. Sham!
Where is the profitability? Any CEO's best indicator of his value to the company is the share price. The history says it all, we need new leadership and I don't mean his kids.
If so, they need to audit the amount of time Robert, Sr. spends in the office and divide that time by his $4 Million income. Look at it this way, if he spends 10 hours per week in the office then he works 520 hours per week. $4 Million divided by 520 is $7,692.31 per hour. Nice! And he wants to bust the unions because they demand a high hourly wage, LOL! At least they contribute!
Storms are rolling through today so I hope everyone stays alert and safe!
How was the company picnic? My husband and I were out of town and couldn't make the drive to Greenwich, CT but we want to know how every thing was. I heard it was a BYOBBYOFBYOIBYOC. Bring your own beverage, bring your own food, bring your own ice, and bring your own chair. Did they really charge $20.00 to park?
My guess is that the only reason the price recovered last week was due to forced buying. If history repeats itself, we will wee SEC filings showing that all the minions purchased shares. Remember, Robert, SR makes over $4 Million and he reinvests it back into the company's shares and we are all supposed to feel good about it. I wonder what the average price is for all the 3.5 Million + shares he owns?
Sr., what do you say to all those that invested in Cenveo and lost a pile of money, except your family and friends of course?
Robert, how do you justify you and your kids salary, stock awards and bonuses? Who in this environment deserves a seven figure salary and a bonus? Was anyone allowed to ask this question on the earnings call?
You take away from all your hard working employees and yet you continue to rob (no pun intended) the take, take, and take. Isn't this survival mode for the company considering the huge debt and continued losses?
I hope the law firm of Levi and Korinsky decides to move forward with the breach of fiduciary responsibility to shareholders lawsuit and sue the #$%$ out of you. Wonder if they can claw back 10 years for over-compensation!
Sr. bought 34,000 shares, just like I predicted. Who is next? I love how he pulls down a multi-million dollar compensation and then turns around and buys 34,000 shares for about $100,000.00. Even if he did it 4 times per year it amounts to $400,000.00 of free money. I heard he hardly even comes to the office anymore? What is he getting paid for?
Gulp the Kool Aid or you are history! Post tax purchases hurt all the buyers and with the financials the best management team in the business is showing, it is like kissing hard earned money good-bye. Employees who are being made to buy should be shorting shares to hedge their investments. Except for the Burtons who, in most everyone's opinion are grossly overpaid, get some of their shares for free. The average CEO in the US makes $178,000.00 per year. How could this guy and his kids make millions and the company is hemorrhaging?
Robert and his gaggle of geese are buying their 'buy or else" shares this week. I expect to see a few filings showing share purchases in the next few days. Ahhh, like clock work!
We haven't heard from the law firm of Levi and Korinsky lately regarding their investigation of the breach of fiduciary responsibilities to share holders. I wonder if this can claw back for several years. I think RJB, Sr. pulled out about $21 Million in income over the past 4 years, not to mention all his family and friends. Do you think this investigation was spurned on by IP or Gors? Maybe on of the institutional shareholders that have had nothing but continuing losses? Time will tell my friends, time will tell.
On another note, we are going to keep a watchful eye on the sky today and tonight. Strong storms are once again in the area. Seems like very other day we are in the path of destruction.
There should be great concern around the Burton dinner table regarding the investigation and potential lawsuit against the breach of fiduciary responsibilities for the common shareholder. The average CEO make $178,000.00 in this country and greedy Robert and the three little pigs trump that dearly as the share price has tanked. This is worse that robbing a bank with a machine gun.
When you are mentally ill, it is hard to make sound reasonable decisions.
Only he could be pleased with these numbers! I bet his kids are even sick of this whole thing.
How about this line, and I quote: "Operating income was $10.1 million for the three months ended March 29, 2014, compared to $11.7 million for the same period last year. The decrease was primarily due to increased selling, general and administrative expenses related to higher commission expense from increased sales and incremental expenses of National Envelope".
Are you kidding me. He blames the decrease in operating income on the fact that the National Envelope sales reps make a higher commission than the Cenveo sale reps? Note to all the National reps., keep your cheeks squeezed tight. My guess is that he is setting the foundation for gang rape and a slash of your hard earned pay. Apparently, you people were obviously to blame for the reduction in operating income. Funny how he doesn't give you credit for the increase in higher margin work and an increase in revenue.
This will most likely tank tomorrow!
I wonder if Humpty hired a firm to contaminate this board with spam to create confusion? If so, my guess is one of his in-laws were hired to do it or one of his son's college friends. Can't wait for the stand up routine tomorrow, err I mean the earnings call.
Here is the link.
This guy is an idiot. Half way through the article he starts calling National Envelope by National Register. He is just an amateur writer that likes to read what he writes. In this case he is so out of whack it is funny.
Wonder if Bob is sitting with his speech writer tonight going over next weeks Earnings Call? Oh that's right, he doesn't use one, he just starts spouting things.