Wolseley may put Stock Building Supply on sale block

SBS just has to hold on until Obama is elected. With his redistribution of wealth plan SBS will get their fair share of money from companies that are actually profitable. If you own or are working for a building supply that is profitable you may think this is not fair. Obama does not want to punish your success. He just believes that if those who are lower than you are doing well such as SBS (with the money he took from you and gave to them) then everyone is doing well. So SBS employees do not fret. The messiah is on the way!

Wolsley needs to sell SBS wrote:

As a former Wolseley employee I understand the issues surrounding SBS. SBS has not turned a profit since Wolseley acquired it. It has been bleeding revenue for sometime and should have been dropped long ago. The major flaw lies in fact Wolseley had no entry strategies within the market that SBS services. At this point in time I don't believe anyone will purchase it unless it is sold for a "bargain" basement price. The individual business units are having difficulty understanding the term "integration" which brings about another layer of complexity all together. I left Wolseley due to the tightening economy within the building sector and I believe it was the proper time to do so. Forward thinking for the US markets brings me to the following conclusions; Wolseley will probably try to shed SBS in one fashion or another, Ferguson will experience another round of tightening which will consist of shutting stores and laying off Associates at both HQ and field operations and Wolseley will continue to experience losses abroad. I believe the current economic situation, which was caused by Wall Street and our wonderful Government, will last for quite sometime to come. This economic situation will spell disaster for many companies regardless of size. Will Wolseley endure? Depends on how deep their pockets actually are.

Some of this i agree with but there are a few points....Wolseley thought they would by Carolina Builders and a few operations in North Carolina and South Carolina and use the Ferguson model to create a business that works better than anything that existed. They were wrong! All it did is alienate every company they bought from that point forward. Take a look at how many Fergusonites work in SBS management. Many of you are not aware of the early beginnings of this organization but there was definitely a viewpoint that noone before them (ferguson or wolseley) that were successful enough in the building business to model. I also beleive Fenton Hord (past president) had them growing without mercy to try to show growth and try the old economies of scale. They just never got it that some of the companies they purchased had the ability to generate profits. Some were only in business for a 100 years through some of the toughest economic times we have seen. On the economy, its not only wall street or the governments fault. The people who over extended themselves or lied on mortgage applications deserve a bunch of the credit. It's rediculous that if you give an adult a choice of over spending or living on a budget that in America we can't do it. Thats costing Billions and all the bleeding hearts are screaming we need to save them. Screw them! When SBS fires everyone....let help them (the laid off employees)instead of the liars and crooks. Wolseley has always only cared about the bottom line. The employees are just lemmings and meat for the grinder.

Big brother is watching? Oh no, there goes our freedom of speech! The Islamic messiah is on the way to bring Socialism to our now fear driven country. Hey Jim, give Chip and Ralphie a call, I got speedos for all of us. We will swim with the fishes in Atlanta, and then we can join our buddies from AIG and party. What's to worry, were above the law right??? Hey Chip, your buddy from Countrywide called, he wants to meet you in Amsterdam to party before the board meeting!!!

HA HA!!!

I have a relative and some friends that still work for SBS and i can tell you the only thing SBS has working for them is their size. Their size enables them to wait out hiring good peple until they are desparate(ready to conform), buy other companies when they are down, and loose money as needed to beat down the smaller competition. Maybe they will loose some of that size in this down turn and actually have to restructure and rethink. I would love for them to sell off blocks of their business to some local or regional independents that turn these operations around and makes them profitable. I am sure certain areas could really go cheap and would be a steal for a well run independent. This is like watching a movie thriller. You can't wait to see what happens!!!

SBS is the collective wet dream of a room full of slap dick MBAs. The kind who would talk to a long timer in the biz and ask him very serious questions and mock his business model, and use lots of buzz words. They buy his operationa and proceed to run it into the ground, ruining generations of work. Old Emp, their size enables them to do exactly jack shit, other than lose money hand over fist. The thing is a Turd; there is no part of the turd that looks, feels, or smells like anything other than a turd. The bottom line is the bottom line, no matter how "big" you are. The smaller competition you mention has been hunkered down, tightening their belts, biding their time. There may be a small window of opportunity for them in the aftermath, but most of them are capable of seeing the bigger picture. The bigger picture is that this is going to be a shitty business to be in for a few years.

Pro build just took our Centex work at a board footage cost structure in which Centex took our worst margin model and used it to set up Pro Build's pricing structure. Pro Build was so retarded that they set up an entire divisions pricing structure based on one model!!!! Have fun selling at those margins geniuses!

Let me throw this out there... I may be way off base here, but I understand that ProBuild is under the umbrella of Fidelity Investment Group, correct? Which will be the benifactor,(like so many other GIANTS in the financial sector), of multiple billions of dollars from the FedGov via our tax dollars, thank you very little. Is it possible that this Gov intervention is basically giving a cash influx to our main competitor? And if so, am I not by default, now a stockholder in Fidelity Group and ProBuild due to the fact that my tax dollars are being used to buy Preferred Stock? I'm not a conspiracy junkie, but I could see that being a reality.
I'll hang up now, and listen to your response...

I'm not sure that Fidelity is as leveraged as some of the other investment firms, as far as securitized junk and credit default swaps go. They seem to have avoided most of the mess, other than the really, really, really, bad decision to get into the lumber business.

How could they buy us?
You guys and that stupid vendor community have there head up there BUTT.

DALLAS, Oct. 16, 2008 (GLOBE NEWSWIRE)-- Builders FirstSource, Inc.(Nasdaq:BLDR), a leading supplier and manufacturer of structural and related building products, announced its decision to exit the New Jersey market. The Company operated a distribution center, a manufacturing facility and three showrooms. We expect to have facility closure costs and possibly further asset impairments related to these facilities in the fourth quarter of 2008. The estimated cash savings over the next two years is $5 to $7 million.

Macomb employee wrote:

How could they buy us?
You guys and that stupid vendor community have there head up there BUTT.
DALLAS, Oct. 16, 2008 (GLOBE NEWSWIRE)-- Builders FirstSource, Inc.(Nasdaq:BLDR), a leading supplier and manufacturer of structural and related building products, announced its decision to exit the New Jersey market. The Company operated a distribution center, a manufacturing facility and three showrooms. We expect to have facility closure costs and possibly further asset impairments related to these facilities in the fourth quarter of 2008. The estimated cash savings over the next two years is $5 to $7 million.

Because BFS continues to be proactive in its business from a profitiblity standpoint, unlike SBS
The sale to BFS was a nats a$$ away from done. The killer is WOS wanted to sell but wanted to be a significant sharehoder of BFS, to which BFS would not agree.
That simply says that WOS has no confidence in the mgmt of SBS to get the job done.
Dead man walking on a "green" mile.

Macomb why do oyu think Scott was there a couple weeks ago ? You guys and Walled lake need to get ready for the inevitable its coming.

Is BFS really any different than Stock? I'm not being a smart ass. I doubt BFS is making money right now either. Are they better operators? Do they have better systems? In this market they seemed content to be one of a dozen or so bidders for at or below cost business. That's a horrible formula.

D Noonan wrote:

Is BFS really any different than Stock? I'm not being a smart ass. I doubt BFS is making money right now either. Are they better operators? Do they have better systems? In this market they seemed content to be one of a dozen or so bidders for at or below cost business. That's a horrible formula.

Yes. Better systems, fewer sku's, much better turns, no hesitation in making bold moves.

I know some things wrote:

Macomb why do oyu think Scott was there a couple weeks ago ? You guys and Walled lake need to get ready for the inevitable its coming.

If you know so much why don't you tell us when.

D Noonan wrote:

SBS is the collective wet dream of a room full of slap dick MBAs. The kind who would talk to a long timer in the biz and ask him very serious questions and mock his business model, and use lots of buzz words. They buy his operationa and proceed to run it into the ground, ruining generations of work. Old Emp, their size enables them to do exactly jack shit, other than lose money hand over fist. The thing is a Turd; there is no part of the turd that looks, feels, or smells like anything other than a turd. The bottom line is the bottom line, no matter how "big" you are. The smaller competition you mention has been hunkered down, tightening their belts, biding their time. There may be a small window of opportunity for them in the aftermath, but most of them are capable of seeing the bigger picture. The bigger picture is that this is going to be a shitty business to be in for a few years.

Preaching to the choir!!! As far as their size, I was referring to their mentallity concerning their size....Not my oppinion of its benefit....

Grindstone wrote:

Let me throw this out there... I may be way off base here, but I understand that ProBuild is under the umbrella of Fidelity Investment Group, correct? Which will be the benifactor,(like so many other GIANTS in the financial sector), of multiple billions of dollars from the FedGov via our tax dollars, thank you very little. Is it possible that this Gov intervention is basically giving a cash influx to our main competitor? And if so, am I not by default, now a stockholder in Fidelity Group and ProBuild due to the fact that my tax dollars are being used to buy Preferred Stock? I'm not a conspiracy junkie, but I could see that being a reality.
I'll hang up now, and listen to your response...

No, Fidelity is private equity and not part of the bailout....i like your thinking though!!!

thank you big brother wrote:

i want to thank big brother for stepping in and blocking this website at work..now all the not so loyal employees that are bitching and crying about the hand that feeds them can go back to work and actually get paid for an honest days work. if you dont like where you work QUIT and go be useless to someone else. at my location it is business as usual selling lumber at high margins and trying to make it a profitable store. we take one day at a time and if something does happen it happens. we have been there and done that. lets get back on the bus and help one another make it through this very trying time. and remember module 3 for yes training is on its way to your location. make a WOW difference and MAKE IT HAPPEN!!! take your best shot at MY opinion. this is a place to vent so i vented. dont hold it against me dont hate the player hate the game.

hey proud to be sbs thought you were done with us?

TellMeWhy wrote:

no, she had the double mastectomy, because she had the BRCA gene (the breast cancer gene). get your facts straight.

what the ?

Macomb employee wrote:

we just jack the beer, run to the crib, go see the bitches, f**k em, split, go home and sleep; bada bing bada boom nicca

\
just a jerk-off bully as usual, calling people names you have no real facts or opinions how old are you and do your parents know you are up this late?