Famous quotes by John Novak:
"Bankruptcy is clearly on the table. It is an option of last resort, but we are seeing more talk about it than a month ago."
"Miller isn't afraid to make tough decisions. You will see some action here in the next couple of months. This is measured in months, not years at this point."
"All three groups are having meetings at various times and word leaks out from those meetings and for the next half hour that determines the direction of the stock."
"I would think you'd be able to run an auto company's North American division out of there, ... Considering they already have the manufacturing operations there, that would make sense."
"It's an area that could support a corporate headquarters of that size. You're talking about a business that gets considerable support from its global operations. I think Nashville is large enough where you could attract the talent."
"The company ultimately needs to shrink. The question is, can they do that in or outside of court."
"Everyone anticipates a tough year in 2006 across the board. Companies that have a diverse customer base and produce value-added technology-based components will continue to do better than the others."
"It's a bad day for the entire sector. There's a realignment of earnings expectations across the sector. Some expectations were too high."
"I'm not surprised by the bidding. But you're now getting to the point of the company being fully valued. I guess the question I would ask if I was a Thyssen shareholder is, Is this a good use of the money?"
"The steps they are talking about seem to make sense, given the state of the supplier industry and their customers. Plant closures and headcount reductions are something they have to do if they are going to reorganize."