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GPK·GPK: Legal And Demand Headwinds Will Pressure Earnings And Limit Upside
I was an employee and part of the latest RIF as a result of the leadership change. My take? Really bad breaks. Poor decision to fund a billion dollar capital project (Waco) with cash flow. They got greedy.... Then they overspend it by 200 million of more cash flow. All while volume drops and inventories quickly build as running Waco 100% was a political necessity after the disastrous overspend. Now add the good moves they were, and are, making in plant consolidations - I was involved with several plant closures - and you have a cash flow nightmare. All fixable. The hard part is pretty much over. As to the class action suits - which I happen to be included in - Mike Doss did not knowingly lie. This I am sure of. I doubt a case can be built just because you lost money based on "bad" advice. This too shall pass when the temp drops a little and the stock price returns to respectable levels. btw - my departure was close to my retirement and was handled very well. Classey outfit.
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