On Sun, 25 Nov 2007 17:31:47 -0700, Mark & Juanita
wrote:

Frank Boettcher wrote:

... snip

I wasn't in the boardroom, were you?

No, I was a vice president, a company officer fully exposed to all
financial data specific to the company in all segments. The group and
corporate financial information was available to anyone who asked for
an annual report. There is nothing "secret" that happened in the
boardroom that would negate the actual financial results of the
specific company or my operation. It is as I described and I'm
constrained by confidentiality agreements that outlive my employment
from going into any more detail than that although they don't mean
much at this point.

It's good to hear from someone with a close perspective of the situation.

... snip

You don't know about the concept of present value do you. At this
point in history, the chances of it turning out with the desired
overall end effect financially are zero. The group was sold at a deep
discount (about $500 million) to sales volume after a number of break
even years followed the disastrous strategy. So those corporate
officers can *never* recoup what they have lost for the stockholders
of the corporation. It's lost for good.


Did the off-shoring decision occur before or after Pentair sold Delta?


Before. Pentair only starting looking for a buyer after the strategy
went very, very bad. The Tool Group, the most profitable part of
Pentairs business throughout my tenure, went south in a hurry. Stock
dropped to about half its pre consolidation/globalization level losing
about a billion bucks of shareholder value.

Public record. Annual reports. Glossy words, but you can't hide the
numbers. Also Fortune wrote an article about the disaster, 2000 or
2001. It was very accurate except for the parts that indicated the
"current Corporate management had a handle on the fix".

Frank