Has anyone notice that dean is spending a lot of capital money and I have not heard of any layoffs as of yet. I am seeing spending and very very low volume. Less then a two 8 hour shift production run. However there is more overtime then anyone really wants. Full staffing. Just want to know if this is the norm or just where I am at. Starting to think they can't wait to file chapter 7 and be done.
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Capital spending? Not seeing it here, although it would make sense to try if there really is hope for selling while still in Chapter 11.
Management still has control of the day-to-day operations. Where they don't have control to make any major decisions. Major decisions include selling assets or starting lay offs- can make recommendations, but those recommendations would be public because they would require court approval.
Just don't think anything is going to happen until this converts to Chapter 7. Then the serious bidding will start and sales will happen.
Everyone in Rensselaer are more like jack from the Titanic..never let go jack never let go.then he dies and she let's him go.rose is management using us until dean dies.
Sounds like that is the case now. Back when the C suite cared about the stock price the way of life was controlling all expenses, now that pressure is non existent so no one cares. Why push to save money and actually work to manage a company when it doesn’t matter and you can just coast and collect your salary?
How can you have full staffing low production yet a bunch of overtime? Are you all just sitting around on the clock making that OT because management doesn't care about watching hours anymore?
The raises are cost of living raises that falls under the whole, “make sure the employees are paid” bit. Please don’t have hope thinking everything is ok because you got a measly cost of living raise. It’s part of your compensation. Layoffs are going to start swiftly! Plus, raises loose their luster if they only last a month or two before you are laid off! While the trustees does control the money, they are mearly approving or denying Deans corporate decisions. Lots of employees and poor business decisions still fall through the cracks at each Dairy with lots of people taking advantage. The main motive of the trustee is to help Deans stay afloat as long as possible until a buyer comes. That unfortunately will not happen and the money will dry up which in turn will cause a CH 7. No money and no buyer creates the Ch 7.
A couple of problems with this theory. One Dean's management doesn't control spending anymore. The trustee appointed by the bankruptcy court does. Two the trustee has apparently approved raises so why give raises and then lay people off?
That is what I was thinking chapter 7 sooner than later. I have kept up on the docket and I was thinking the end of February. They have been foreshadowing this for a while now. Like I said less then a 2 shift run on milk and running 3 shifts plus spending ... Looked to me like all they wanted to do was spend up all the money n go on vacation. If anyone looked up the new CEO you could have seen it coming. The closer.
Well here in Florida volume is up but that's because of the snowbirds being down here. As for layoffs we are understaffed on the plant floor any layoffs happen it will seriously effect production.
Look at the epiq website.multiple law firms specializing in chapter 11 filed to represent the bankruptcy with multiple lawyers making almost 2 grand an hour.1 firm charged 150k retainer with a 3 million max cost..looks like everyone besides dean is making money.chapter 7 will be in February 10th .
Do you think every single plant will go to Chapter 7, or will at least a small handful survive Chapter 11 and just be sold without going to Chapter 7?
Chapter 7 is 100% coming and will be sooner than latter, though it will not be without major layoffs first as they have to at least play the part that they tried everything to turn around. The magic of the holidays are over, corporate doesn't need to brainwash anymore besides move money around for a quick exit. The saddest part are if you look at the list of creditors filing for money on the lawsuit, you will notice a lot of Deans Management.