The PennyShac

[bigarow]

Top > Business & Finance > Investments > Sectors > Healthcare > Medical Equipment and Supplies > DHB (DHB Industries, Inc.)
Welcome, lossproof Options - Edit Public Profile - Sign Out

Yahoo! Message Boards: DHB Add to My Yahoo



< Previous / Next > [ First / Last / Msg List ] Msg #: Reply Post
Recommend this Post Ignore this User / Report Abuse
NYPOST
by: investor1717 (27/M/Sillicon Valley)
Long-Term Sentiment: Sell 09/14/02 07:38 pm
Msg: 682 of 692

Today's NY Post article (article attached at bottom of post) is particularly troubling. It implies at the end that NY may try to recoup the $9 Million dollars needed to replace the faulty vests by going after Point Blank. A law suit like that could, I imagine, ruin our relationship with the military. I, for one, am closing my position on Monday. Those of you claiming that NY is going to replace the vests with new ones from Point Blank are clearly wrong - we are losing NYC as a client. The bigger issue is whether or not this has larger implications. For me, it's not worth the risk... and I have been bullish on this stock for a while.


From todays Post:

September 14, 2002 -- The NYPD is replacing nearly 4,900 defective bulletproof vests after some failed to stop bullets during recent tests at the firearms range.
Cops currently wearing the vests have been ordered to the Police Academy to get replacement vests "out of an abundance of caution," an official said.

The Post disclosed Sept. 5 that the Police Department believed it had problems with 1,000 vests. But since then, the number of vests believed defective has grown.

The trouble first surfaced in May, when a cop informed his supervisor that the material in his vest was breaking down. During tests, bullets whizzed through the problem vests.

Police identified more defective vests. If they run out of replacements, they will send deskbound officers with good vests onto the street and take the other guys off the street.

Police Commissioner Ray Kelly huddled yesterday with his top aides to determine what action to take against the manufacturer, Point Blank Body Armor. The replacement cost could reach $9 million.


Message Thread [ View ] Profanity filter is Off [ Turn On ]
< Previous / Next > [ First / Last / Msg List ] Msg #: Reply Post




Bigarow