Chri, from what I've gathered over the years, Whit had the opportunities and was advised by others to not put himself in a box as far as the sales distribution aspect goes but he never wanted to listen or change course no matter what. He chose to have only one customer (WFS now CPS) and service one region only (the CA central valley). This is dangerous because success is entirely dependent on weather conditions in that one area and also the relationship with that one customer. If either turn bad then you're screwed. He was advised many, many times to diversify and get into the retail end but he refused. He had opportunity after opportunity to cut deals to do this but turned every one down. Rather than accept a cut of millions of dollars of sales he chose to have 100% of nothing and just focus on the bulk CPS sales. The golf courses and nurseries, even locally, he just blew off.
In 2007 it looked like things were turning around but then came major problems with the drought. This put a strain on cashflow and effected the order filling last year. Then came new management with CPS that put an end to a friendly working situation. Supposedly, in the past WFS/CPS would front the funds to purchase raw materials and then deduct it on the back end from the fert invoice. New management said no more of that. That's what put a cabosh on fert sales last year along with drought conditions from what I understand. Then in Q3 '09 he announced that funding was received that resolved this situation. I won't bother repeating what happened between Jan-June this year but it wasn't good, right? Ask him now what the obstacles are and I'll guarantee he'll say money. To answer your second question, if he got the money what would his plan of attack be....I honestly don't think he has a plan. Would just be more of the same. Service CPS only and pray for good weather in the central valley. Then if the weather doesn't cooperate then use that as an excuse.
I don't mean to sound like an azz_____ but this is his M.O.. Seriously. He wants money but squanders everything. Prox is 100% right. Love him or hate him, he's right.
This is why the "behind the scenes" guys and board of director guys really need to be more firm. Develop a gameplan and hold Whit accountable for his actions and decisions. To date that has not happened so we just sit and spin and have to listen to the occasional plea for funding from a stooge after throwing out a few red herrings, of course.
AI
