This looks like a very good CEO match for our assets. I have no idea how they found Mr. Masters, but I am very pleased to have him running things.
Now if he can only get what remains of the Bakery business shut down or sold off for a nominal amount then we will be cash flowing nicely.
The losses last year funding bakery biz losses were horrific given the size of the company.
Continuing to fund negative cash flows at the Bakery business just seems pointless and destructive to me. We dominate in Ginger and Mac nuts and do quite well there. These are nice businesses. We obviously can not compete in bakery and it is a nightmare.
Why not just admit that Bakery is a loser and get out of it or shut it down and sell the ovens for scrap value ASAP? Then take any write-down and use this to offset some future taxes? I hope he takes immediate action to end this insanity.
Let's get on with it and move forward and take advantage of our new CEO's skillset to grow our existing good businesses instead of focusing his energy on putting out neverending fires in bakery!
BUG Price at posting:
59.1¢ Sentiment: LT Buy Disclosure: Held