|
Final
Segment #1: |
 |
|
'Mad
Mail' &
Wall of
Shame
Nominees |
|
|
|
Wednesday,
June 3, 2009 |
|
|
 |
 |
|
Mad Mail...
Viewers
write in to
ask stock
questions...
and Cramer
answers...
(below)
See viewer email
questions below, and
Cramer's answers on
whether or not he
likes the stock in
question, or general
market comments...
|
|
Continued below...
|
|
|
|
|
|
|
|
Wednesday,
October 22, 2008
(Cont'd from
above)...
Jim:
You've got to hand
it to William Klesse...
the CEO of
Valero Energy Corp. (VLO)...
The man did the
impossible... He
took a quarter,
where the deck was
stacked in the big
refiners favor in
every possible
way... a quarter
that had everything
going for it, that
should have been,
dare I say, idiot
proof... And he
still managed to
ruin Valero's
quarter. Talk about
defying the odds.
Klesse is a reverse
miracle worker...
And, you know what?
Tonight he's joining
the elite fraternity
of what I would
have, at one time,
called "idiots"...
before I became a
statesman. Yep,
tonight, the CEO of
Valero, is joining
the
Mad Money Wall of Shame!
Just listen to
this... are you
sitting down?...
You see, Valero was
expected to earn 73
cents a share in its
second quarter...
which should have
been a truly golden
moment for an oil
refiner. I mean, the
whole industry's
been raising prices
like mad... tell me
you haven't paid a
lot more filling up
lately... and
outages have made
for some excellent
price gouging
lately.
What happens?...
Klesse can't even
make Valero turn a
profit! Instead, he
gives us a 50-cent
loss! Yes! A 50-cent
loss, caused by
longer-than-expected
downtime at two
refineries, as well
as lower margins on
diesel, and less
money coming from
processing sour
crude... way to find
the negatives and
really make them
count.
Even a terrible
company can't put
out these results
without some help
from upper
management... And
that's not even the
least of it...
After years of
buying back stock at
incredibly high
prices, Valero
bought back $2
billion of stock in
2006 at $57.80...
Then, in 2007, $5.8
billion at $68.80.
Then $955 million at
$41.25 last year...
141 million shares
over the last three
years...
What's Klesse
announce today? He
turns around today
and announces a 40
million share
secondary
offering... selling
stock... of course,
with the stock much
lower, now at
$18.40, down $3.98
today. I bet you the
offering will
probably even price
lower than that.
I knew buybacks were
destructive... wow.
It's like Klesse
took all the value
Valero created, and
poured it right down
the drain with
Draino, or Mr.
Plumber, for the
younger generation.
I can't think of a
thing he would have
done differently if
his job were to
deliberately
sabotage Valero...
Wouldn't you know
it... just when we
have an opening...
along comes Klesse.
We don't even need a
vote. This one's by
acclamation.
Now yesterday, I
asked you to email
me with
Wall of Shame
candidates, and the
response frankly was
overwhelming...
Here are a few...
▼ ▼
▼ ▼
▼
|
Jim's
rating on
this stock |
STOCK
SYMBOL |
Closing
price that
day |
Full Company Name |
|
 |
na |
na |
|
'Mad
Mail'
General Comments...
Q:
I think
that I have a great candidate
for the
Wall of Shame in George
Economou. Under Economou,
DryShips, Inc. (DRYS)
is down from over $120 to $5
after he massively
over-leveraged himself buying
Ocean Rig at the height of the
oil bubble and diluted his stock
about five times over. He is
also quoted as calling all
American investors, which
includes all Mad Money viewers,
stupid. I don't care if you
destroy what is left of my DRYS
position by outing this guy
because justice needs to be
served. Go get him Cramer!
Jim:
That's a
pretty good bill of particulars.
What I may do... I may have to
convene a runaway rogue grand
jury, violate every single
amendment, from 1st to 10th,
except for the precious,
most-hallowed 2nd amendment...
and we will bring this man to
justice. We will. There should
be a posse... a Mad Money
posse...
|
|
|
|
na |
na |
|
'Mad
Mail'
General Comments...
Q:
Hey Jim,
here's my
Wall of Shame nomination:
The CEO of the once-great
Eastman Kodak (EK),
Antonio Perez... In six years,
he has destroyed the Kodak
brand, fleeced the retirees, and
destroyed company morale. George
Eastman would be ashamed of what
his company has become. You
would be hard pressed to find a
more deserving CEO for the
Wall. Thanks for letting me
vent.
Jim:
Alright,
I think they've tried
everything... They've tried to
develop new products,
printers... but you know what?
The record is what it is. And I
think you've... well, that's not
exactly a reason to buy the
stock. How about that?
|
|
|
|
na |
na |
|
'Mad
Mail'
General Comments...
Q:
Hands
down, Lewis Campbell of
Textron Inc.
(TXT)
should be added to the
Wall of Shame... He took
over a once thriving company and
ran the stock into the toilet
from an all-time high of $98 to
a low of $3. His European pump
company acquisition strategy was
a total bust. he also relies on
Bell and Cessna to carry the
entire load.
Jim:
I
actually think it was his
financial division that brought
him down, but that's also not
exactly, uh... Let's say that
wasn't too good either. Hey
look, these are fabulous. I want
you to keep sending them to me.
I think just reading them alone
is going to tell the tale, but
there's still more work to be
done.
|
|
[verbatim recap]
[end of segment]
Read Jim's next Segment
here
▼ ▼
▼ ▼
▼
Read Jim's next Segment
here
|
|
|
|
|
|
|
|
 |
|
|
 |
 |
|
|
|
Search for Jim's past comments about a specific
stock. Use
ticker symbol or company name in quotes
(e.g., GOOG or "Google") |
|
 |
|
|
|
|
|
|
