Exide Technologies fka EXTC

[big-yank]

Here's my best clue to look for in determining whether Exide has a future, or not, post-BK. Look for personnel announcements that select people with actual, core-market credentials instead of "experiments" with total battery-industry novices that have to learn from ground zero an entire industry. Exide already has some experienced, talented people with years of operating experience... a Phillip Damaska, as just one example, but there are many others. Why recycle some old name from a car or truck business to run a battery company that faces enormous EPA issues and major client losses?

Take a look at JCI who just announced a new CEO who was a 30-year JCI veteran who replaced another 30-year JCI veteran that led the company for the prior 7 years until reaching retirement age. There is leadership, continuity and knowledge that has remained consistent for around 40 years that contributed to growth, stability and NO BANKRUPTCIES.

Exide's Board is a pathetic anchor around the necks of a company in enormous peril. Too bad Jeffrey Gendell didn't flex his power to DO SOMETHING about Reilly's Country Club, IMO.