Lisa, I know what you mean. The Builder's Warehouse was to serve as a low-cost manufacturing/distributing facility, but is looking to have been a little hard to swallow. From the '97 Annual Report:
"To complement the activities of these firms, the Company also sought to obtain during Phase I, low-cost, high-quality manufacturing and distribution resources. The Company therefore merged with Builders Warehouse Association, Inc. (BW), one of whose key assets is a 279,000 square foot ISO-9001 certified manufacturing plant on mainland China which, at the time of the Company's acquisition of BW, was already producing networking products for OEMs. The Company also believed that BW's product distribution capabilities would significantly expands(sic) the Company's existing distribution channels."
My questions is simply:
Is the facility turning out as planned? I fear not but hope that it will. The fact that the report says, "The company also believed that BW's product distribution capabilities would significantly expands(sic) the Company's existing distribution channels" is a little disturbing -- the use of the past tense makes it sound as if BW won't really meet its expectations. Quite irksome also is that they wrote "expands" where it should be "expand"--how hard is it to proofread? At least we got BW for a bargain-basement stock price, thanks to Witz.
Aaron |
