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!
I love to be right about some things! New 52 week low, LOL! So predictable! We may see under $2.00 in the not too distant future. So much work is getting sent out, clients are baling and production is atrocious, not good for earnings. Expect a round of forced insider buying shortly as Humpty tries to falsely inflate the share price. Trouble is, there is only so many shares his minions are willing to buy. Who besides me loves to see this thing struggle, especially after everything they have done to people and they way they treat people.
I wonder when the fund managers and the institutions are going to bale out?
officekid - so many people made money off of Cenveo over the last 5 years, that is if you shorted the stock LOL! I guess if my kids ran my publicly traded company, I would say the same thing no matter how poorly it did. I can't wait for the day when Humpty blames the kids for the poor performance, he is too conceded to think he had anything to do with it.
So amazing, from July 18, 2005.
And I quote., "However, there is a good likelihood that one or more of my sons will have a role at Cenveo because of their significant prior experience in the printing industry. Not surprisingly, your Preliminary Proxy Statement neglected to mention my sons' printing experience at World Color and Moore Corporation and that each of them, through their investment in Burton Capital, own more stock than any current director of Cenveo including yourself. Where I come from this is called "putting your money where your mouth is." As evidenced by your counsel's comments in the Printing Impressions Weekly for June 10, 2005, your advisors continue to tell Cenveo investors that we are not interested in running Cenveo and are only interested in increasing the stock price. As we have told you before, we are excited about the opportunity to manage Cenveo. I will commit 100% of my time and efforts to turning Cenveo around. We intend to bring back additional proven senior executive printing talent to run Cenveo. We have a detailed plan to save this company and it is a plan that we have used several times in the past, which we believe is realistic and credible. As our track record indicates, we deliver what we promise. The top five printing executives that we hope join us at Cenveo, plus myself, have over 100 years of printing and publishing experience. As you know, neither you as Chairman nor your new CEO have any (zero) direct operational printing experience. Very truly yours Robert G. Burton, Sr.Chairman, CEO and Managing Member" Great job Burtons, great job!
Like a rock! My prediction is a new 52 week low by the end of the qtr. so we have 5 1/2 trading days. DOW is setting new all time highs and CVO is near it's 52 week low, so sad. A true testament to the leadership of this company. One thing I for sure, Robert was right! The stock price will have a "2" in front of it.
Google these items:
Robert Burton, Sr letter to BANTA CEO
Robert Burton, Sr letter to UCONN
Robert Burton, SR letter to Cenveo CEO Paul Reilly
Some funny stuff is contained within these letters. Everything he lambasted BANTA and the original Cenveo leadership for he is guilty, if not worse
Looks like someone is going to be begging for more money. They will really expose themselves to some hardball questions at these conferences. My prediction post investor conference is a steep decline in price. Funny too is that our CEO and COB will most likely skip the one on the West Coast because he is afraid to fly. Mikey will handle it though, LOL.
Football players are dropping like flies. First the quarterback quits and now two other guys. What gives? Maybe they should send Hiltwein in there to figure things out. He did such a great job with the envelope division! That is once he is done with some of his special projects for Humpty. I never met Burton's son who is now running things for that group but I heard it is slash and burn and that is what dad wants. Justification for another nice year end bonus, time will tell?
Share Price Update - $2.77
Derivative Action - a lawsuit brought by a corporation shareholder against the directors, management and/or other shareholders of the corporation, for a failure by management. In effect, the suing shareholder claims to be acting on behalf of the corporation, because the directors and management are failing to exercise their authority for the benefit of the company and all of its shareholders. This type of suit often arises when there is fraud, mismanagement, self-dealing and/or dishonesty which are being ignored by officers and the Board of Directors of a corporation.