Seems he finally needs the money to save his own company.
https://www.news.xerox.com/news/xerox-announces-542-million-repurchase-of-shares-from-carl-c-icahn-and-affiliates
28 replies (most recent on top)
Hmmm…so:
Carl was involved inside of Xerox = bad
Carl not involved with Xerox = bad
You make zero sense no matter how smart you think you sound. Haha. Like little TMZ pa----s. You trolls are insufferable. You can tell none of you get ever get laid
This is worse than when Steve's slides on his planned destruction of the very profitable GIS were put out via Imagur - competent mgmt would have never done it and let's face it all of the moves made by this mgmt have been to sell or merge the whole place. I am curious though with a "post money valuation of 700 Million for Care AR" per Steve why didn't they just sell that to make the gap - probably because the valuation was done by Stratton Oakmont. They say those who can't do teach the CEO should resign and go back to Columbia and let Xerox lick their wounds. Oh yeah don't forget the entire C suite are IEP plants you have to clean house in Norwalk as well...
Only these creeps in the C Suite would try to spin a disastrous exit by Carl, at the ex dividend date (even worse), into a press release that trumped their Drupa exit. It's last call folks - I hear Sharp is hiring in the US territory: they sell the Iridesse now among other Fuji based products that XDX will sell you at 2x the price OH! I have a crab bake at Tino's gotta jet see ya!
No matter how good, how hard you market, printing is a mature technology.
A saturated market with “ anyone can make it “ tech is not a growth industry.
Investors won’t push their way into the vacuum unkie Carl left
What is actually still left that they can sell off? RDE is gone, 3D Gone, Controller gone, real estate gone. I guess the toner plant?
Yawwwwwnnnnn…..
OK remaining Xeroids let's have one of those "Critical Conversations" on why you don't want to be at Xerox as we are now at Last Call.
Here's the pickle , now that Carl is officially gone , Zero on Zerox, and this bond print goes up...and the lender adjusts goodwill by writing it down management cannot do the following & Cannot continue the following:
- issue anymore RSU's
- sell any of their holdings , tax purposes or not
- issue more debt- w/o another su---r
4 issue more stock -w/o another su---r
- keep the divvy
- fly on a Gulfstream to St. John (for golf wine and song?) maybe?
- continue to buyback any more stock from current balance sheet.
- invest in anymore forays-( tilt at windmills)
- Hire anyone
- lose anymore business to their competitors.. Canon,HP, Lexmark, Minolta
- European vacations-perhaps they could be keynote speaker Davos??
- Afford to buy stock outright , as they will never pull a penny from their C-suite pocket
I mean I can throw in there that the Town of Webster is doing a intervention on the Webster Campus because it causes depression upon first sight, inclusive of the illusion that 105 and 129 139 147 128 20x appear to still be there but it's like a holliywood set nothing behind the doors... Why work for a company where you are the last to know.? I guess Stockholm Syndrome. Here is your wake up call make your move!
Down 2 percent at close. Carl called and said Blue Horseshoe does Not love XRX repeat Blue Horseshoe does Not love XRX on Monday act accordingly.
Yeah I think the way they are transacting leases with PEAC should have a looksy - It can be argued by the Securities and Exchange Commission that they XRX are booking the full value of new / renewed multi-year leases in the current quarter via a flea flicker, in addition to stating on paler new leases when it's a renewal (more attractive to the books). But hey Fuhgettaboutit it's not like previous management had to resort to those antics before and our Customers love it when we put it to em "Hey Moose Rocko help them find their check book"
If you read the tea leaves using real analytics, the buyback was a hedge in the instance / scenario that the acquisition of Xerox by Lexmark fell through. JB had all of the irrelevant pieces trimmed off by end of 1H, but the Chinese backed out on Stevie Boy. Abandon ship - 12 or less per share by next Friday which is around 2 something pre-split but don't lookup Steve B 10 million mansion on zillow or the house JB just built in Tampa when he got his multi-mil Onboarding bonus in 12/22. SEC: Nothing to see there move on plus they all have guaranteed payouts coming in the C Suite when this pulse goes flat.... Regular dudes at Xerox get the JY or get out... Not worth it to work for predators like this.
Please send in the dancing elephants!
This on going nightmare called Xerox needs help .
Not even Uncle Carl and his henchmen could move this pig to $40 a share ..
With no innovation and consistent loss of market share they only added to the
the damaged image of Xerox. Now the sham continues as SB praises the contribution of Carl and his team .
So sorry for the rank and file workers.
This the first thread worth a hoot in a long time.
Yeah it's gotten so tight on spend that Tracey calls herself the godfather and they separated us finance folks from her to stop the budget favors...
Lets see what rating Moody's S&P Fitch put on this new tranche of $542 million of debt? Remember prior to this Xerox debt was rated BB
What is BB you might ask , let me spell it out for you .
BB -rated bonds are non-investment grade, which suggests a relatively high credit risk. It signifies that the borrower's ability to meet its financial obligations is considered to be speculative or "junk”.
Carl's ponzi scheme was the wind beneath our wings. Investors were only interested because they thought Carl must have something up his sleeve and they wanted on the bandwagon. I might have to go back to working for the GD's full-time or back in that club, yikes.
JohnV never got the stock to $40, and it hasn't really moved much since johnv left us. So why would Carl sell now? Has he finally given up on the 40 target price and wants to cut his losses now, or is something coming he knows about?
Letier is now the Chairman.
Letier is Darwin Deasons boy; Finance manager for Deason and, no coincidentally, Chairman of Conduent.
The crazy never stops at Xerox.
So glad he lost 1/2 the value since turning down Fuji's offer to acquire all his shares at $30 back in May 2018. I knew that Fuji offer was a premium offer but Carl in his (not so) infinite wisdom demanded $40/share, otherwise no deal. So glad that d-mb **s decision cost him a cool 1/2 Billion. Once again proving investing in anything Xerox is a losing proposition.
The good guys won, bye bye dividend heads!
Hey Fuji....wanna buy some distribution in the US?
When the buzzards leave the carcass that’s never a good sign.
I don't know if this is a good or bad thing.
The deal with Lexmark is dead (Ninestar / forced labor) & Stevie is no longer the golden boy. Remember what Gordon Gecko (Carl) said when the jig was up: "Dump It".
Well that explains why every single employee had to sign an MAA or be considered terminated just a few months ago. Brace for impact tomorrow.
@htv+1oPfSiQh-He never got around to the 3 to 1 reverse split.
He sold for $15.84. What happened to the $42 he and his goons promised when they came with their g-ns blazing?
Tsunami on the open market if this was not done on the exact day of the ex-dividend date. It's interesting that they lawyer-up to transact this. Probably grounds for the SEC to take a peek...