Sunday, July 18, 2010 11:26:04 AM
As for your comment regarding inventory...You think a WRITEDOWN was necessary? That suggests obsolescence or huge discounts to move product. That is NOT a good thing.
Personally, I think there has been an overhead allocation shift between the subsidiaries, possibly affecting cost of sales. I've done this myself in allocating management HQ overhead, but NEVER into CGS.
I'm going to guess that Pak-It is moving operations to NJ. No one has addressed my questions involving the Pennsauken grant. I believe the grant paperwork will shed light on this issue. If I'm right, this is a MATERIAL issue that has yet to be disclosed.
All of the above is my opinion.
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