The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
hmmmm.....guessing Wosner doesn't want to be party to the reward for non-performance program that beever and darby have in place for themselves, and doesn't want to appear to be complicit in it. I wish we had heard that conversation. There could be some fireworks soon.
The problem is that Beever and Darby are hand in hand and one is as bad as the other. They have been printing their own money with a Board that has shown itself to be useless, so how does it get fixed? Who is going to select a new CEO and a new Chairman? The Nissin deal was to protect Beever and Darby, as well as to prevent McCormick from moving in on Nissin's interests - it had zero to do with Premier Foods performance or growth. Funny how Beever wasn't mentioned by name...he vanished over a year ago...probably off-shore, with his accounts...Good corporate governance does not apply to this bunch of con artists. I got a laugh out of this line from your post, as there have been several shareholders who have contacted the company with legitimate concerns and questions, and have been totally ignored, with no response received whatsoever: 'Premier said in a statement: “We are aware of the recent letter sent by Cape Wrath Capital to our chairman. We value the active and constructive dialogue we with have with our shareholders.” Yeah, okay, if you say so 'Premier'......and the moon is made of blue cheese
...at sea...is what this feels like.....the captain jumped ship ages ago, the first mate is down below but has lost his marbles if he ever had any; officers don't know what to do, they've been so used to not thinking on their own, most civilians on board are getting excited and delirious with each tiny gust of breeze that they hope will turn into a wind, in any direction; the engine is gone but for a few sputters now and again, and most of the sails are ragged, torn and worn through; everyone is hoping for help to arrive but a Japanese sub is lying in wait to torpedo any potential rescuers, at the personal request of the hopeless first mate who thinks everything is fine because he continues to get paid, so he won't put out a distress signal, but just reiterates that the Japanese sub is there to bring aid and promises a massive wind will come tomorrow or the day after that, or the day after that, or the day after that...
Hey Bistolover - I finally got around to registering my voting instructions today. I hadn't bothered looking at the last few resolutions before as I just wanted to do what I could to get the clowns out of the company; but, after reading your opinion, I did read the final few....lol....and I'm glad I did, and added my No votes to 16 - 19.
Probably just somebody GD has tipped off on the Q1 results due in a few weeks...lol
You will upset those who have been in denial for the past few years. On the bright side, the lower the sp goes, the higher the likelihood that the company will be bought out by somebody. Waiting for a pfd recovery on its own....well.....best leave your shares for your grandchildren, lol.
I've missed your posts, but not much has changed here while you were away, lol: in fact, not much has changed for years.
What gets me is that only Standard Life seems to be looking for performance and is vocal about the sham. Maybe some palms are being greased elsewhere...could be more in the game with GD, con artist. Difficult to find another explanation for the quiet acceptance, year after year.
Thinking the same thing...GD may know this is his last chance at the trough, to gorge....still, frontier justice had it's merits.
Great haul of performance shares, hahaha......what a joke. GD should have to return all of his for the past 3 years....pf continues to be out of control...or, is 'grossly mis-managed' the correct term? The board needs to go, maybe this is for performance that might come in the future, like all of GD's bs promises...
Vote NO for Resolutions 5, 6, 7, 10, and 12...it will be interesting to finally see where the major shareholders sit with respect to Darby & Beever, and co. Since growth is officially off the table, some of these people are redundant anyway, lol, besides having failed miserably. Director change may be what was behind the recent ML trade volume....securing votes in the run-up to the AGM to try to make changes via the process at the AGM. At least we will know more on the 21st than we know now - whether or not the major shareholders are in fact GD fans, for a start. Hoping it's the beginning of positive change, not a continuation of the zombie status quo.
The problem is, the sp has been hovering there for the better part of 3 years, lol.
Could be partly due to the nebulous FCA investigation around insider trading.....perhaps GD will soon be a guest of her Majesty and we won't have to wait for him to be sacked, lol.
Remind me again.....what's the share price? I guess only a few people are seeing what you are seeing, and buying GD's view, or it would have flown up to 65p by now... It was a bit of a surprise to read your earlier post, suggesting that the CEO's role did not have anything to do with sp, when the sp is a reflection of the state of a business and whether people believe it is worthy of investment...and the CEO is responsible for company performance, so they are joined at the hip. Most shareholders probably hope the sp rises, or alternatively, drops to the point where a new buyer opts in to lift it quickly...but you can't ignore the fact of where the sp is, even if you don't understand why it is where it is.
Same old...jam tomorrow....except, don't expect any progress until the second half of the year...hahaha. Another 6-month all expenses paid holiday for GD.
Could be happening again...finger on the sell button? Gamble is the results won't be as dismal as they usually are, under GD. Well noticed, though. Other issue, is, if he should resign, sp will would likely dip for about a day and then rebound strongly and on to new heights.
Insignificant It's actually a minor reduction in ingredient costs for a few materials that PF has in common with the Mondelez products. Any savings here will not make PF a successful prosperous company but may amount to a small cost reduction until the next rise in world sugar prices. The contract is likely to be a cost-plus contract, so all material costs associated with Mondelez' products will be covered by Mondelez...so no savings for PF if ingredient costs reduce slightly - except where ingredients are in common. I wouldn't expect much of a cost reduction on sugar (commodity) pricing for some increase in usage from where PF are today anyway, would you? What information do you have, to suggest that more low margin Mondelez business at some point in the future will be a key driver of success for PF brands and profit? Curious to hear some details.
Co-manufacturing is always low margin business and often gives rise to the expression, 'busy fools' lol - not a share price driver, but normally 'covers the overheads' for the site; although, PF is rather desperate and probably didn't get a decent deal, even at that. However, in true GD fashion, there will be jam tomorrow, lol...to get everyone thinking about the new dawn that will come at some point in the distant future - the new dawn he has promised year after year, to keep people from looking at where the company and sp are now, and how neither have gone anywhere since he was given the top job - with no performance requirements. Con artist. The Mondelez deal was necessary for survival and for a sale, but is not brand or profit growth for PF.
PF may be worth a bid now that this license is secured for the next 5 years...the uncertainty was likely one factor holding suitors back, if there are actually any sniffing around.
I doubt gd GD will leave of his own accord...he is on the gravy train. Wouldn't surprise me to see his buddy beever give him a golden parachute just before beever leaves...insult to injury for shareholders. That would kind of sum up the two of them.