There has been zero performance in year one of their ten year agreement they made with Smurfit. Is the prediction that performance will be in YEAR THREE? Why?
What would make shareholders believe that Rock-Tenn -- the company -- EVER plans to keep their end of the bargain?
Rock-Tenn inherited that contact when they bought Smurfit out (Smurfit was Rock-Tenn's competitor).
This buyout left the new JBI CEO, Kevin Rauber, without a job at Smurfit's HQ in St. Louis, MO.
Rauber, according to rumor and speculation I have read, "worked with" JBI for "two years" -- so he must have been at least aware of the pyrolysis agreement Smurfit had with JBI on some level.
Whether Rauber is the one that signed for Smurfit in the 10 year contract with JBI or not is a mystery (the document is sealed).
Now, with that all said, and I am speculating here, now that RAUBER is now CEO of a company whose contract with Rock-Tenn HE SIGNED -- that would make him a LEGAL PARTY TO BOTH SIDES OF THE PYROLYSIS LEGAL AGREEMENT. If I am correct, RAUBER signed for Smurfit over a year ago (maybe, can anybody prove it wasn't the janitor that signed at Smurfit?), and has authority to run JBI now as CEO (presumably, although that theory certainly can't be proven).
If Rauber signed both sides of this pyrolysis contract, what's stopping JBI from rolling up the equipment at ANY Rock-Tenn site and getting busy?
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