It was just brought to my attention that they let Mike Baab go from the NE Office. Mike had to have been there almost 20 years and they cut him loose. They even took his phone and then cut him off. I couldn't imagine what there thinking was, cowards to say the least. May be tied to some POS VP in the Midwest that lost the United Healthcare account. Yes, another account lost by a beloved senior manager. Why not #$%$ can that turd? I suggest everyone call his cell phone today looking for him. You know they are trolling his e-mail and cell phone. Who is next? What plant will be the next to close? Q3 should prove to be a blood bath, but not for the Burton's who continue to rake in the big salaries. Will they have to take out a high interest loan to pay the family? With only $700,000.00 cash left, one must wonder where the money will come from. EBITDA and working capital will probably be horrific. If anyone has Mike Baab's cell number, please post it here!
Q3 is over in a few weeks, hammer will likely fall before then. Cost cutting is imperative. Share price could see low $2.00's before is over. Debt, lower revenues, greed, etc will all come to roust! With only $700,000 cash, will Sr have to take out a loan to pay himself, the BOD, and the spawn? First cost I would look at is the sales managers, especially on the envelope side. Too many managers and VP's. Get rid of them for a quick $2 Million savings.
Gee, looks like Cenveo market cap won't be climbing back up above the $50m required to get back on the NYSE. Question is: Can it stay on the NASDAQ?
So, what's the difference between the printing industry's Cenveo roll-up and the EFI roll-up? Well, the multi-$billion Cenveo M&A disaster is a classic CIVIL executive looting scheme. While the multi-$billion EFI M&A disaster is a much more serious CRIMINAL executive looting scheme. The DOJ provides CRIMINALS like Marc Olin with free, all-expense-paid vacations at the Club Fed "Graybar Hotel." But the Burton family will have to pay for its own vacations, after their Cenveo M&A Titanic sinks beneath the waves! (However, "Team Burton" won't have much spending money after Cenveo's devastated shareholders have sued their pants off.) www.PrintingWikiLeaks.com/emails/Suddenly,-there-are-twice-as-many-law-firms-in-hot-pursuit-of-EFI-as-there-are-analysts-covering-it.htm
Law firms in hot pursuit of EFI.
there is some short or hedge fund or someone or something that keeps this stock down. all too often at 3:59:59 it take a hit on very low share trade or as soon as it goes up they take it down. this has been happening for a long long time now. so what does the braintrust on this board think? the short sellers are few and the trade volumes low so why does it trade so low on the low bid after rising up? who sells a stock which gained for the day at a lower price?? just look at today. it happens all he time pls keep your response meaningful
PrintingWikiLeaks8 hours ago ========== WEEKLY CENVEO DEATH WATCH ========== for Fri 18 Aug 2017 $00.469 = stock price (in pre-reverse-split historical terms) $43.34M = 30-trading-day avg mkt cap ================================================= On 02 May 2007, CVO traded for $26.50-per-share and its market cap was $1.41 billion. On 18 Aug 2017, CVO traded for $0.469-per-share and its market cap was $32.18 million. Adjusting for 18% inflation since 2007, Team Burton has lost 99.999998% of shareholder value. Cenveo's directors and officers are sure to have their pants (and dress) sued off. 2014: Investigation of "breaches of fiduciary duty by members of the board of directors of the Company." http://www.businesswire.com/news/home/20140411005506/en/SHAREHOLDER-ALERT-Law-Firm-Levi-Korsinsky-LLP 2017: The Cenveo Titanic sinks under the waves -- Read 'em and weep! http://www.PrintingWikiLeaks.com/xlsx/Cenveo-Historical-Stock-Prices.pdf
SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Cenveo Inc. Regarding Possible Breaches of Fiduciary Duty
Levi & Korsinsky, LLP is investigating Cenveo Inc. (NYSE: CVO) in connection with possible claims of breaches of fiduciary duty
Market Cap is $32 Million. Cash has dried up! Will they have to borrow money to pay dad, the kids, the other off the radar relatives and the yes men/yes woman that sit on the board? Imagine having to borrow money on your credit card to pay the kids allowance. See you later Burtons!
I still think it is a good idea for am MBA student at UCONN to do a history of Cenveo as it relates to acquisitions, sr management income, make up of the BOD and finally the historical share price. My guess is that that student would be marched off campus! And don't forget to throw in the hiring of Coach Pasqualoni and Burton's tirade and threat to withdraw his donations, LOL. Then throw in the Banta letters for good measure.
Sounds like a familiar story our new fantastic, beautiful, excellent President and sons. He and his family are also on there way to the Federal Penitentiary 😂
Nice bounce the last few days, up about $1. Volume not bad either, I wonder who is buying?
Bob and his sons should have their own reality (non-reality) TV show. The show should be called, 'Bankruptcy with the Burtons.'
Bob,. if you look at the performance of the best management team in the business, of which you're the boss over your tenure, you should be ashamed. If you worked for you, you'd fire yourself and the kids.
Who remembers the song, "Down down down down down down down down, we are going down down down down...
My guess is and this is despite Robert J Burton, Sr's gout condition, he is still ordering is steak, lobster and scotch regularly and everything is being expensed and paid for by the company despite having only $700,000.00 cash in the bank. Mental illness will tell him that he is still doing a great job and his kids will rally around daddy as long as the big pay checks keep rolling in. With cash flow in the tank, will they have to borrow more money to pay themselves? Or is that off the radar screen?
It's just about where I bought it in 2002 and sold it all in 2007 @ $24. Maybe it's a buy again 😂😂. PS I was one of the people on the team that selected the company's new name it has Latin Roots looking into the future. The future turned out to be 💩💩💩😂
These guys are so far removed from reality that it is incredible. I k if if this was the company I work for heads would be rolling. How can you even be to rationalize a $55mm reduction in revenue and say you did not lose any customers and it was because the current customers did not choose to print. They obviously don't know how to business plan and they claim that this was a surprise. Again, if we were this far off business plan no matter what the excuses heads would roll. I feel sorry for the employees as there will now be some drastic actions in reductions or plant closings to try to show they are doing something. also, Nat just lost another few million so I assume he is not happy. Only a matter of time before he ousts the Burton family!
On 02 May 2007, Cenveo's market cap was $1.42B. (53.67M shares x $26.50-per-share) On 03 Aug 2017, Cenveo's market cap was $33.0M. ( 8.55M shares x $ 3.86-per-share) Adjusting for inflation, Team Burton lost 99.999998% while banking $80M+ -- Way to go, guys!
The Burton Family will drain this company dry for their personal gain until they can no longer do so. They have control and until someone or something stops them they will continue pull out all they can. That's just the facts people. Since 2005 The Burton Family has pulled 80 Million out of this company. They will keep this going as long as they can .. There is no turnaround for CVO . It will never happen, Print and Envelope is and will continue to decline as an industry. One can only hope that they get ousted , walk with their 100 million and by miracle the company somehow turns around into some type of sustainable entity. Only In good old America can you get away with such thievery with Zero consequences. Outrageous .