Has it occured to any of you genius daytraders that Exide is on the brink of yet another bankruptcy? They can ill afford another class action settlement. They likely can't afford to remediate the problesm in the Vernon smelter, let alone pay the inevitable fines for gross violations of California's strict environmental statutes. Then there is the onerous cost penalty to replace in-house recycled lead with outsourced lead, either of virgin or non-tolled origin?
This is a three-way bleed.
This company has been run by idiots for the last 20 years and the combined leadership has created so much collateral damage that even all the king's horses and all the king's men couldn't salvage its sorry butt. The genuine insanity began when Bob Lutz and Craig Muhlhauser bought GNB and created the biggest oxymoronic joke in business history:
Exide + GNB = Exide Technologies. All the old lead acid guys just continue to laugh their ass off at the stupidity that destroyed an entire industry by throwing so many players into the acq blender and hitting the frappe' button. Hey, these fools weren't content to simply trash the U.S. battery marketplace, they enhanced the morass by destroying the Eurozone and even the former Chloride empire spanning lots of Asia and Australasia.
As Adele opined, "We could have had it all" but, instead, wound up with a bodybag of rotting corporate entrails.
What an utter, total, pitiful waste of what were a lot of really good businesses until Hawkins and the ensuing parade or morons turned Exide into a joke of epic proportions.
Only a fool would consider this sick pup an "investment".
