RE: House CleaningFolks, I dont want to take the contravian view, but I will!
Theres nothing better than a dose of bad medicine and ill health to shake up the management at LDM. These are seasoned management folks who know how to run a transportation business. That does not mean that they can run an ambulance business nor a waste managment firm.
Their strategy was wrong, they admitted that. They thought that because all of their empire ran on wheels that they were the experts in each of them. They know better.
I say let them stay on, give them some support. They paid their divident (yes I checked with my broker) and they will ultimately get out of the companies that are non-core, but they should not get out at firesale prices. Thats simply crazy!
So management if you read this, and I'm sorry that they got rid of Bullock, hang on, keep at it and turn this old bus around!
my two cents worth!
cheers