(Somewhat OT) Art:
My apologies for intruding. I confess that I have "stalked" Arthur through a few threads and am responsible to a degree for escalating this argument. I first encountered Arthur on the Fruit of the Loom thread. While I'm sure you are not particularly interested in the details, on the FTL thread he refused any semblance of dialogue that did not first acknowledge his self proclaimed "expertise" refusing to aknowledge alternative points of view and has since attacked me on each board with the sole statements that I am stupid or a fool. Now he has taken the step to attack me saying that my posts are illegal because I work for an investment banking firm (for whom I have not ever represented on any board).
I have not posted in each of boards he frequents. Instead I have solely commented on the other irrational statements he has made with considerable prejudice. He finds no fault with the arguments except to call me stupid and attacking the quality of my writing.
He has stated with considerable arrogance that "Consultants are always right if they follow text books taught in colleges, such as Harvard business school or MIT Sloan business school of the Alfred P. Sloan "planned obsolescence and replacement" fame" -- despite the fact that this "breakthrough" theory was first developed in the 1920s.
Again, I would apologize for the inconvenience that this has caused you, but out of sheer moral obligation, I have defended myself while challenging his ridiculous arguments.
I wish you the best of luck,
Clement
PS here's an article on Ames from today:
BUSINESS
AMES SUFFERS SALES DECLINE, $26 MILLION LOSS FOR QUARTER
From Staff Reports
08/28/2001
The Hartford Courant
STATEWIDE
E1
(Copyright @ The Hartford Courant 2001)
Despite a year of belt tightening, Ames Department Stores reported its worst second quarter in memory, posting a $26.4 million loss fueled by lower sales.
Rocky Hill-based Ames, which filed for bankruptcy protection last week, lost 90 cents a share for the quarter, which ended July 31, compared with a loss of 75 cents a share in the same quarter last year. For the first half of its fiscal year, Ames lost $1.84 a share, compared with $1.74 a year earlier.
The company has sought to improve margins during the past year by minimizing inventory and cutting operating costs. Ames reduced selling, general and administrative costs by nearly $12 million from last year, but the savings weren't enough to offset a $66 million decline in sales, which dropped from $872 million to $806 million for the quarter.
Two weeks ago, Ames said it would close 47 stores and lay off 2,000 in a renewed bid for profitability. Days later, the company said it had filed for Chapter 11 bankruptcy protection to reorganize and reduce its debt.
Ames stock has fallen 86 percent in the past year, to 69 cents a share. Trading was halted in advance of last week's Chapter 11 filing, and the stock has not resumed trading. |
