~~ CROCS stock set to take a DIVE ~~
• UltraMan •
WASHINGTON - At rail stations and shopping malls around the world, reports are
popping up of people, particularly young children, getting their toes caught in
escalators. The one common theme seems to be the clunky soft-soled clogs known
by the name of the most popular brand, Crocs.
One of the nation's largest subway systems - the Washington Metro - has even
posted ads warning riders about wearing such shoes on its moving stairways. The
ads feature a photo of a crocodile, though they don't mention Crocs by name.
Four-year-old Rory McDermott got a Croc-clad foot caught in an escalator last
month at a mall in northern Virginia. His mother managed to yank him free, but
the nail on his big toe was almost completely ripped off, causing heavy
bleeding.
At first, Rory's mother had no idea what caused the boy's foot to get caught. It
was only later, when someone at the hospital remarked on Rory's shoes, that she
began to suspect the Crocs and did an Internet search.
"I came home and typed in 'Croc' and 'escalator,' and all these stories came
up," said Jodi McDermott, of Vienna, Va. "If I had known, those would never have
been worn."
According to reports appearing across the United States and as far away as
Singapore and Japan, entrapments occur because of two of the biggest selling
points of shoes like Crocs: their flexibility and grip. Some report the shoes
get caught in the "teeth" at the bottom or top of the escalator, or in the crack
between the steps and the side of the escalator.
The reports of serious injuries have all involved young children. Crocs are
commonly worn by children as young as 2. The company introduced shoes in its
smallest size, 4/5, this past spring.
Niwot, Colo.-based Crocs Inc. said it does not keep records of the reasons for
customer-service calls. But the company said it is aware of "very few" problems
relating to accidents involving the shoes, which are made of a soft, synthetic
resin.
"Thankfully, escalator accidents like the one in Virginia are rare," the company
said in a statement.
In Japan, the government warned consumers last week that it has received 39
reports of sandals - mostly Crocs or similar products - getting stuck in
escalators from late August through early September. Most of the reports appear
to have involved small children, some as young as two years old.
Kazuo Motoya of Japan's National Institute of Technology and Evaluation said
children may have more escalator accidents in part because they "bounce around
when they stand on escalators, instead of watching where they place their feet."
In Singapore, a 2-year-old girl wearing rubber clogs - it's unclear what brand -
had her big toe completely ripped off in an escalator accident last year,
according to local media reports.
And at the Atlanta airport, a 3-year-old boy wearing Crocs suffered a deep gash
across the top of his toes in June. That was one of seven shoe entrapments at
the airport since May 1, and all but two of them involved Crocs, said Roy
Springer, operations manager for the company that runs the airport terminal.
One U.S. retailer that caters to children, Mattel subsidiary American Girl, has
posted signs in three locations directing customers wearing Crocs or flip-flop
sandals to use elevators instead of escalators.
During the past two years, so-called "shoe entrapments" in the Washington subway
have gone from being relatively rare to happening four or five times a week in
the summer, though none has caused serious injuries, said Dave Lacosse, who
oversees the subway's 588 escalators, the most of any U.S. transit system.
The U.S. Consumer Product Safety Commission said escalator accidents caused more
than 10,000 injuries last year, but the agency has few records of specific shoe
problems. Only two shoe entrapments have been reported by consumers since the
beginning of 2006. One reported in May involved "rubber footwear."
Agency spokesman Ed Kang urged people who have had problems to report them on
the commission's Web site.
Crocs officials said they were working with the Elevator Escalator Safety
Foundation on public education initiatives. But the group's executive director,
Barbara Allen, said that's not true.
Allen said a Crocs official called her in September 2006 about possible
cooperation, even suggesting the company might put a tag in its shoes with the
foundation's Web address. But since that first contact, Crocs has not called,
and nobody from the company will return Allen's calls, she said.
Washington Metro's Lacosse and other escalator experts say the best way to
prevent shoe entrapments is to face the direction the stairs are moving, keep
feet away from the sides and step over the teeth at the end.
Lacosse, of the Washington subway system, said he is personally skittish of
Crocs and other soft-soled shoes.
"Would I wear them? No," he said. "And I tell my children not to wear them
either."
Doc Savage
mumbled:
Are you shorting them Eric?
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Company Name : Zanmai Trading Co
Company Address : PO Box 20231
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ZIP/Postal code : 80308
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Company Fax : 1-303-8619681
Contact Person : Eric Ross (Owner)
Contact Phone : 3036694574
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Last Active: 13 Nov, 2005
Environmental Consultants LLC
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No. of Employees: 5 - 10 People
Annual Sales Range (USD): Below US$1 Million
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Telephone: 303-669-4574
Fax: 303-861-9681
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ROSS ERICL96885
ROSS ERICS72518
ROSS ERICX217117
ROSS ERIC 07/31/194599GS188078
ROSS ERIC 08/19/197794GS592211
ROSS ERIC AA421558
ROSS ERIC L 09/08/1983B167844
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ROSS ERIC PX188739 ROSS
ERIC P 07/31/1945 Z550314
ROSS ERIC P 07/31/1945
• UltraMan •
> On Mon, 17 Sep 2007 23:04:33 -0600, "• UltraMan •" <ul...@man.jp>
>
> Are you shorting them Eric?
Who's Eric ?
But I shorted them a while ago, like I shorted your future, you shitsucking
exterminable piece of repugnikunt scum.
Doc Savage
mumbled:
>Doc Savage wrote:
>> On Mon, 17 Sep 2007 23:04:33 -0600, "¥ UltraMan ¥" <ul...@man.jp>
>>
>> Are you shorting them Eric?
>
>Who's Eric ?
>
>But I shorted them a while ago, like I shorted your future,
Come try me, killer.
Deadrat
news:nruue31nf9ganh5mh...@4ax.com:
Anyone can play a tough guy on the internet.
But, catch a clue. Shorting your future isn't the same thing as shorting
your sheets. Ultraman isn't saying that he's going to do anything to you;
he's just claiming to have bet against your having a future. It's just an
insult, like saying, "You're too dumb to exist."
But *he* said it. So don't get mad at me, OK?
_ Prof. Jonez _
> On Wed, 19 Sep 2007 04:09:13 GMT, Doc Savage <m...@bronze.book> wrote:
>
>
>>>> Enough to have reported him a while back.
>>>
>>> Yeah? To whom? And would you favor us with a report on the
>>> results?
>>
>> Yeah. None of your bsuiness. No.
>
>
> "Psychosis"
>
> Definition:
> Psychosis is a loss of contact with reality, typically including
> delusions (false ideas about what is taking place or who one is) and
> hallucinations (seeing or hearing things which aren't there). A
> psychotic person cannot distinguish between what is real and what is
> imaginary. This causes a severe impairment of daily functioning.
And apparently profound cowardice, coprophilia and repugnikuntism.
~^ beancounter ~^
-------------------motley fool news
snip--------------------------------------------
My kids have these nice, lightweight shoes made from some sort of
fluffy rubber. They're perforated all over, and you can buy little
brooches that snap into the holes. My son's black clogs are full of
Spider-Man mementos, and my daughter's pink-and-whites look like
Cinderella's after-party. Yeah, those Skechers (NYSE: SKX) are pretty
nice.
Oh, you were expecting a different brand? Sorry, but the actual Crocs
(Nasdaq: CROX) are way too pricey, and we shop at Gymboree (Nasdaq:
GYMB) on a regular basis. Skechers is just one of an avalanche of
shoemakers who have copied the Crocs concept already, and the knock-
offs are available everywhere at reasonable prices. They're often
backed by other household names like Skechers or Collective Brands'
Payless ShoeSource (NYSE: PSS), and they come in a cornucopia of
colors and styles, most of which accept those snazzy decoration plug-
ins.
The kids' closet even contains an unbranded pair, stamped "Made in
China" but otherwise unidentifiable. And that pair looks just as good
-- or ugly, depending on your opinion -- as the others.
I can certainly see the attraction of light, breathable, and
overdesigned footwear, especially here in sunny Florida. But Crocs
lost the first-mover advantage a long time ago, and it's only a
question of time before the brand itself fades into the linguistic
mists of time.
It's too early to pass definitive judgment on Google (Nasdaq: GOOG)
yet, but longtime holders of other brands that became commodity
dictionary terms can tell you what happened to their competitive
moats: They disappeared.
I can take the heat!
So you're not scared yet? OK. Then think about valuation for a minute.
Maybe you don't mind a price-to-earnings ratio around 46 times
trailing earnings. Perhaps the company is worth trading at nine times
trailing sales, or 44 times cash flow. It's a growing puppy, you
know?
Yes, but cash doesn't lie. Let's run the stock through a remarkably
generous discounted cash flow exercise, shall we?
Even in Fantasyland, this stock is too expensive
The current analyst guesstimate points to 27% income growth over the
next five years. Let's bump that up to 30% -- nearly quadrupling
earnings over that period -- and then ticking down to 15% for five
years and an inflation-beating 4% forevermore. Then let's pretend that
free cash flow is equal to operating cash flow, despite the blatantly
ridiculous lenience of that assumption. And let's say that Crocs is no
riskier an investment than any mass-market, big-box retailer, so the
discount rate stays at a low, low 10%.
There's just no way that all these loose assumptions can come true.
The operating cash flow substitution is particularly heinous, and none
of the growth numbers accounts for the knock-offs stealing market
share. Reality will most assuredly come in way below the output from
this run, but we're in Fantasyland today, and reality doesn't matter.
And even then, the company should be worth just $3.6 billion today.
It's overvalued by 40% over the ideal dream picture we just painted.
It's enough to scare me, who bought Google shares at almost $500 a
pop.
Stick to candy
If you want something light and sweet in pastel shades of orange and
brown, stick with candy corn this Halloween. You let Crocs into your
portfolio only at your own peril. The massacre will come in the dead
of night, and it'll be scary. Don't buy the hype.
• UltraMan •
By Mary Jane Credeur
Bloomberg News Service
Article Last Updated: 11/01/2007 09:48:42 AM MDT
Crocs Inc., the maker of the namesake colorful clogs and casual shoes, plunged the
most ever after it forecast 2007 revenue that may miss some estimates and inventory
rose four-fold.
Crocs shares slumped $21.35, or 29 percent, to $53.40 at 9:58 a.m. New York time in
Nasdaq Stock Market composite trading, the biggest decline since the Niwot,
Colorado-based company first sold stock to the public in February 2006.
Yesterday, Crocs reported third-quarter revenue of $256.3 million, missing the $258.3
million average estimate of eight analysts in a Bloomberg survey. The company blamed
the slower sales on a switch to a larger distribution center in Europe.
Inventory rose fourfold to $195.3 million from $49.1 million a year earlier, the
company said on a call with analysts.
"Inventory acceleration and continued infrastructure build cast ambiguity on
once-flawless earnings visibility," David Turner, an analyst with BB&T Capital
Markets, wrote today in a note to clients.
Sales in 2007 will be as low as $820 million and per-share earnings will be $1.94 to
$1.98, the company said. Analysts were estimating average profit of $1.97 a share on
sales of $830.2 million.
Before today, the stock had more than tripled this year.
~^ beancounter ~^ wrote:
> My kids have these nice,
>
~^ beancounter ~^
google & garmin....... ‹(·¿·)›
> >> wear them either."- Hide quoted text -
>
> - Show quoted text -
_ Prof. Jonez _
"~^ beancounter ~^" <richb...@gmail.com> wrote in message
just a minor correction....i think i will stick to
google & garmin....... <(·¿·)>
You ain't the brightest non-Certified "accountant" in Northern Colorado,
are you beano?
Bill<NOSPAM>Gross@gmail.ca
going down.
~^ beancounter ~^
btw: did you ever finish up that GED program you
were workin' on years ago?
On Nov 9, 10:16 am, "_ Prof. Jonez _" <thep...@jonez.net> wrote:
> "~^ beancounter ~^" <richboni...@gmail.com> wrote in message
> > - Show quoted text -- Hide quoted text -
~^ beancounter ~^
BOULDER -- Crocs Inc. (Nasdaq: CROX) might be served with a class-
action lawsuit following a 47 percent decline in its stock price.
A lawsuit being compiled by New York-based Coughlin Stoia Geller
Rudman & Robbins LLC accuses the Boulder-based shoemaker of issuing
"material false and misleading statements" in regards to distribution
issues, seasonal sale conditions and inventory levels. The law firm
issued a press release Thursday seeking an individual or organization
to serve as the lead plaintiff in the case
On Nov 1, 7:29 pm, "¥ UltraMan ¥" <ul...@man.jp> wrote:
• UltraMan •
Lawsuit accuses shoemaker of misleading statements
By David Milstead, Rocky Mountain News
Friday, November 9, 2007
As the Niwot shoemaker Crocs continued its descent after a disappointing earnings
announcement last week, a prominent San Diego law firm launched a class-action law
suit.
Crocs fell nearly 11 percent Thursday to $37.02, less than half its value on Oct. 31.
The stock traded as low as $33.75 before recovering.
In a statement issued after the market closed, Coughlin Stoia Geller Rudman & Robbins
said Crocs and its management "issued materially false and misleading statements."
Among several allegations, the firm said the company failed to disclose it was
experiencing "significant distribution problems in Europe ... and was experiencing
distribution problems in Japan ... causing the company to lose tens of millions of
dollars in sales."
Indeed, the company cited problems with its warehouses in those two regions as the
reason for a significant buildup in inventory.
Yet Crocs' revenue figure of $256.3 million was higher than the company's guidance of
sales in the $240 million to $250 million range. It was the average of analysts'
expectations - $258.3 million - that Crocs missed.
Coughlin Stoia Geller Rudman & Robbins was founded by former Milberg Weiss partner
William Lerach. Lerach pleaded guilty last week to conspiracy for his role in a
scheme to bribe people to become plaintiffs in Milberg Weiss' class-action lawsuits.
~^ beancounter ~^
Fortune article being released with this online posting make it clear
that Citigroup delayed for more than a week - from Saturday, October
27th until Sunday, November 4th - in announcing material information
about the multi-billion-dollar write-downs it expects to record in
this quarter. In the more than a week that passed, there were five
trading days - October 29th through November 2nd - in which investors
buying and selling Citigroup (Charts, Fortune 500) stock did not know
that the write-downs were coming.
Withholding material facts from the investing public makes a company
vulnerable to shareholder lawsuits. Securities laws specify that
material information must be released on a "rapid and current basis,"
which is defined as four business days.
_ Prof. Jonez _
> Maybe not Proff...
>
> btw: did you ever finish up that GED program you
> were workin' on years ago?
Pass your "Certified" Accountancy exam yet, jackass?
~^ beancounter ~^
_ Prof. Jonez _
> not yet...still studying up....wish me luck !!!
You'll need it when they find out you falsely represented
yourself as a CPA ...
~^ beancounter ~^
made any friends today?? finish up your
GED yet?...