Monday, March 3, 2008

A trip to Creighton

When I bought this stock back in April 07, it was at six bucks. 10 months later, it’s at 39 cents and delisted. What’s up with that?

I went out to look the plant over in Creighton. Should have done that before I bought. The place looks like a Superfund site. Talked with some of the employees. They’re all looking. The company isn’t making payroll. Suppliers and vendors aren’t getting paid. There is no inventory. They said that all the base material they use to make the products was sold off. The storage tanks are pretty much empty.

Somebody on the Yahoo message board said something about all the products the company makes. I tried to find some of them in the stores. Not there. Nobody knows much about our products and we’re in Pittsburgh. So I ask myself just what’s this all about? Everybody here keeps talking about when the 10K/8K are coming out. I don’t give a damn about the reports. I want to see these guys sell something! That’s how you make money.

We’re paying this guy Redmond $275 thou a year and giving him a luxury car to drive. God knows what else. I don’t know what he’s been doing but it sure hasn’t been moving product out the door. We don’t need a production guy running the place. We need someone who knows how to get our products in front of people who’ll pay real money for them.

2 comments:

Anonymous said...

Nice blog. I've got the IEAM blues too. I always wanted to visit their operation to see for my own eyes. Thanks for using yours. Keep us posted with any news.

IEAM SUCKS A BIG FAT ONE said...

I think we've been conned. Some in the know tell me the ex-ceo is mafia material.