Whenever I read stuff like this I reflect:

Turnover is vanity,
Profit is sanity.

Kindest regards,

Graham

[log in to unmask]



On 14 Dec 2006, at 18:59, Steve Gregory wrote:

> Hi Werner!
>
> I don't know, but something is going on! Things are pretty bad when
> your
> CEO just up and quits, er...I mean, chooses to pursue "other business
> interests"...
>
> You know it's strange, upper management people never quit or get
> fired.
> They always choose "other business interests". I wonder why that
> is? Oh
> well.
>
> -Steve Gregory-
>
> VvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvVvV
>
> Celestica's Abrupt CEO Departure Raises Questions
> Peter Kang, 11.28.06, 6:23 PM ET
>
>
> Shares of Celestica closed Tuesday's trading session down 4.4%
> following
> the abrupt departure of the electronics manufacturing company's chief
> executive.
>
> Toronto-based Celestica (nyse: CLS - news - people ) said Monday
> evening
> CEO Stephen Delaney left the company to pursue "other business
> interests," according to a release. President Craig Muhlhauser will
> assume Delaney's duties effective immediately.
>
> RBC Capital Markets said Tuesday the unexpected departure will likely
> raise investors' eyebrows...
>
> "We believe Mr. Delaney's exit was essentially due to Celestica's
> inability to execute on increasing operating margins in the Mexican
> and
> European operations," he said. "These regions had been a key
> initiative
> for Mr. Delaney and we anticipate little progress to be reported next
> quarter based on this new development."
>
> For the fourth quarter, Celestica sees adjusted, per-share earnings of
> 15 cents-23 cents on revenue of $2.25 billion to $2.45 billion.
>
> Wall Street had expected earnings of about 22 cents a share on revenue
> of $2.4 billion.
>
> Some analysts said the turnaround opportunity remains, but operational
> challenges at its plant in Monterrey, Mexico, are delaying the
> recovery,
> as is tepid demand in Europe.
>
> ``Rome wasn't built in a day, and work remains to do at Celestica,''
> Genuity Capital's David Hodgson said in a note Friday. ``However, the
> probability of incremental margin improvements over the coming
> quarters
> is high, in our opinion.''
>
> The Monterrey plant lost $7 million in the third quarter, about the
> same
> as the second quarter. Celestica had expected the plant to break
> even in
> the latest quarter. That isn't expected to happen until early 2007,
> the
> company said on a conference call late Thursday.
>
>
>
>
>
> -----Original Message-----
> From: TechNet [mailto:[log in to unmask]] On Behalf Of Werner Engelmaier
> Sent: Thursday, December 14, 2006 12:32 PM
> To: [log in to unmask]
> Subject: [TN] Celestica
>
> Hi 'Netters,
> anybody know what theproblems are that Celestics is having in their
> plant in Monterrey, Mexico?
>
>
>
> Werner
>
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