RE: RE: RE: RE: Q3 Results Based upon the last 4 years this company is headed lower or it will be broken up and sold. Prior to all the acquistions in 2008/2009, this company was a "Crown Jewel". It was run by managers with experience, integrity and knew the key reason for its 100 years of success. Relationships with customers built upon treating employees with "family" values. This was all changed with going into tremendous debt to buy over priced companies, eliminating all existing Sr. Managers, bringing in unknown Sr. Managers, merging unlike cultures (Steel & Plastic versus Concrete), and changing from a decentralized organization to a centralized organization. Why would a CEO and board allow this to happen to a company which was a "cash cow", paid a great distribution, and was number one in the steel and plastic infrastructure market. It should be written up in the "Harvard Business Review" on "How to destroy a great business", so that all future CEO's take notice. There are many sayings in business "Don't kill the goose that lay's the golden eggs", do not throw the baby out with the bathwater", etc. This company did just that. Do the math. It used to be in the 20's. Now it is a $2 stock with little hope. 3rd Q results were pathetic given that this is the time to make hay. With Government's cutting back infrastructure spending, just maintaining sales levels will be tough to come by. Hopefully, the weather doesn't change. I think we have head that before.
The solution? Sell some of the concrete businesses, reduce some debt, turn back to a decentralized organizatiohn and bring back some of the Managers who knew how to run this business. It may be past the point of no return, however it is worth a try.