Herseth’s employer having a bad couple of days

From the Argus Leader, it sounds as if Stephanie Herseth Sandlin’s employer Raven Industries is having a bad couple of days:

Sioux Falls-based Raven Industries Inc. took a 73 drop in net income for its fiscal year, driven by continued market challenges and a big decline in sales in the Aerostar division.

Net income was $8.5 million, or 23 cents per share, compared with $31.7 million, or 86 cents per share in the previous fiscal year.

The fourth quarter, which ended Jan. 31, was particularly challenging with sales declines in all three divisions.

Raven reported net income of $1 million, or 3 cents per share in the fourth quarter, compared with $6.2 million, or 16 cents per share, for the same time in the previous year.

Read that here.   And in trading so far today…

uhoh_raven

I don’t think that arrow is going in the direction they want it to be.

18 thoughts on “Herseth’s employer having a bad couple of days

  1. Mole

    There is lots of internal unrest at Raven and lots of people angry with Herseth for destroying the company. She’s been making terrible decisions ever since she arrived, when the nosedive started.

    1. crossgrain

      Ah-ha! I was wondering who to blame for cratering crop and oil prices. Stephanie did it!

    2. oldguy

      Mole please enlighten me on some of her terrible decisions….Thank you… Who is the CEO of this company?

  2. Hack

    This is the great economic rebound of the Obama administration. I doubt Herseth had much to do with it, but look for a lot more companies to follow suite.

  3. grudznick

    It seems silly to take glee in the downturn of a SD company just because it employs the pretty young Democrat Ms. Herseth.

    1. fretwalker

      Hey, these are the folks that wanted the recession to continue as a depression until No. 2015. They have no shame.

    2. duggersd

      Well, maybe to YOU she is young since all things are relative, but I believe someone over 45 is not “young”. As my daughter would tell me, it is “middle age”. 😉

  4. Troy Jones

    Raven stock was $33 when Herseth joined the firm. It is now at $13.50. However, Herseth as General Counsel runs no divisions or has no responsibility for the operating performance.

    That said, we are now in our 8th year of the most anemic growth by any measure coming out of a recession. The fact it was the “Great Recession” (worst downturn since the depression) makes the anemic growth. We have converted our jobs from high paying jobs to low paying jobs. We have the 8 of the worst 10 years for new business creation since they measured this statistic. Many leading indicators are we are on the precipice of another recession despite never really exiting the Great Recession.

    What is happening at Raven isn’t directly the result of anything Herseth did or didn’t do. But, it is the direct result of the failure of the Obama economic policy.

    1. Cliff Hadley

      Troy…

      Amen. I know many businessowners like my wife and me who recite the gamblers prayer a lot these days: “Lord, help me break even. I need the money.”

    2. duggersd

      Raven has a history of being a good stock to keep for the long haul. I have not studied the ins and outs of their company, but I do know several people who have worked for Raven and bought stock as part of their retirement who are very happy with their history. How many times have they split their shares in the past 20 years? I think that says a lot about the company.

      1. Cliff Hadley

        Daj…

        Droll sense of humor you have there. What legislation and policies have the GOP obstructed? In any event, President Pen-and-Phone don’t need no stinkin’ Congress to do anything.

  5. mhs

    Buy Troy: don’t you know risk is bad for you? Don’t start a business, get a government job. Put helmets on your dogs. Don’t buy a stock, put your money in a government-insured CD at .0012% interest. Provide 500 pages of documents when you refinance your house so the government can make sure you can afford the house you already live in. New car? Please. Take the bus or ride your bike. You’re a production worker that’s losing his job to a Chinese company. The government will teach you something useful, like a computer class. Yeah, Apple will hire you, they got cool offices and love to hire 54 year olds who’ve never owned a smart phone. Lost your oilfield job because we don’t want to offend the Saudi’s or Russians? Good, you’re the devil wrecking the planet. Sell that 1-ton and get a Prius.

  6. Troy Jones

    Daj,

    Love your argument. “We didn’t get to enough economic intervention from Obama.”

    At the end of the day, the guy made nary a decision to be good for growth and this is what happens when redistribution is the goal and not growth.

    More poverty, more dependence on public assistance, and more income inequality (poor and middle class are always hurt the most by bad policy and low growth). We need to average 6% growth for a decade to make up for the last five years of no growth.

  7. Troy Jones

    Harry,

    That is funny. You’ve done the opposite of me since high school and want my financial advice. Is this a sign of the end times?

    Seriously, if you think we will elect a President that will pursue pro-growth policies, the market is going to be a bull. More of the same, it will be a bear.

  8. Anonymous

    So-called “pro growth” has made the Big Sioux an open sewer. With luck the Feds will sweep in and arrest the perpetrators.

  9. Anonymous

    Oh come on, Pat, don’t deny Herseth the opportunity to learn more about your side job by deleting what I wrote. The fees you can charge are unlimited because state law allows it. We can all get wealthy by gouging the incarcerated! I bet God is proud of you.