Comments for Financial Mines

Comment on Empty nesters in Greenwich list home for $190 million by drive fast take chances

drive fast take chances — Sat, 18 May 2013 01:36:05 +0000

I will give you a thousand dollars today and pay the balance on installments of 100 dollars a month for the next ten thousand years.

Comment on Malloy peddles $3 million to Cannondale to move to Wilton by Pete

Pete — Thu, 16 May 2013 00:20:49 +0000

So, if they create 75 more positions (on top of the existing ones), they get the free loan.
How long do these positions need to be a part of the company for?
Also, you just created more sales in gasoline and more traffic on Rte 7. Those that were driving from the Norwalk area were driving against the traffic. Most are from this area, so they will need to go the Rte 7 path and spend more on their commute.
Additionally, Bethel now loses an asset to them that was part of their growth plan! They gave up a prime location in Bethel up for Bethel Cycle “for free” to build on making Bethel a “bike town”. Their plan was for people to come from NYC and ride their bikes there. Cannondale in Bethel was a big selling point! I had no problem with the plan, but you need to make sure all your ducks are in a row before you sell your town on an idea.
Horrible job! I doubt Mr. Malloy will be back in Bethel to speak again! Then again, he could always respond with the famous “Let me get your information, and I’ll get back to you on that!”

Comment on Malloy peddles $3 million to Cannondale to move to Wilton by bob 2

bob 2 — Wed, 15 May 2013 20:20:49 +0000

frankly, I’m still confused on why the governor would loan a 800+ million company any money at all? Where are the conservatives? Shouldn’t they be up in arms about now? Is this a bicycle company bailout? Seems that the company made enough money in Q1 that they wouldn’t need free money from the gov’t to finance the move. If the CEO lives in Greenwich and all the employees live around Bethel, they were never leaving the state to begin with. Seems like Malloy got schooled on this deal. Then again maybe all the money is being made at Pacific Cycle off Walmart sales and they told Cdale they wouldn’t fund the move.

Comment on Malloy peddles $3 million to Cannondale to move to Wilton by D. Sanchez

D. Sanchez — Wed, 15 May 2013 18:23:24 +0000

Mr. Karl’s comments highlight the ignorance if the nation when it comes to where our stuff is made. Perhaps Malloy would have been better suited dumping money into something a bit more practical and a little less polarizing. I’d be into seeing money like this used where a panel chose the company with the best proposal. That will never happen without the corruption of gov wiping our upper lips.

Comment on Malloy peddles $3 million to Cannondale to move to Wilton by Karl Hot

Karl Hot — Wed, 15 May 2013 14:16:37 +0000

Wow, this business is pretty screwed up. I’ll bet Malloy wishes he did some more due diligence. I thought all cannondale a were made in USA still.

Comment on Conn. gets piece of $500 million generic drug settlement from India by JimmyP333

JimmyP333 — Wed, 15 May 2013 13:24:52 +0000

The state gets a 1.5 million dollar settlement for inferior and tainted generic drugs made by a foreign company. What about the people here in Ct. who took these medicines filled by all the CVS’s, Walgreens, and others? Are they going to be left out in the cold? The citizens have very little say in where their medicines are procured. These chain pharmacies, insurance companies and pharmaceutical corporations, will do anything to maximize their profits instead of putting the health and well-being of the people first.
I read about this Ranbaxy outfit several months ago and stopped CVS from giving my mom their generic brand of Lipitor. It cost us more getting the brand name and now I know it was worth it. But where is the outrage of the people not only in Ct but the entire country? Where’s the investigations? If you don’t believe that this is only the tip of the iceberg, then there’s a bridge in Brooklyn I’d like to sell you.

Comment on Malloy peddles $3 million to Cannondale to move to Wilton by Jamie

Jamie — Wed, 15 May 2013 12:36:28 +0000

I have a question. How many people will Cannondale loose when they move? Will filling those positions count towards the 75 in 4 years? I’ve worked for two companies that have relocated and both times they lost a lot of people (myself included) who either didn’t want to move, drive further, etc. I live in CT and know that the distance between the bethel location and Wilton location may only be 15 miles, but with inclement weather could mean a 2 hour drive!

Comment on Malloy peddles $3 million to Cannondale to move to Wilton by Neddy O

Neddy O — Wed, 15 May 2013 12:35:07 +0000

Who knew the mighty Financial Mines of CT would become such a pleasure to browse during the doldrums of normal life in the bicycle industry? I am thrilled to see little bits of slop flung on the walls, the drama is delicious, please Ronny baby, Bob, and Steve keep that humor coming! HR must be taking meds to get through this.

Comment on Malloy peddles $3 million to Cannondale to move to Wilton by Dan

Dan — Wed, 15 May 2013 12:18:56 +0000

Looks like there may be some issues within the walls of Cannondale. I can’t comment on those, but will say that I was an investor of Dorel (TMX: Dii.b) and dumped all of my shares after they reported their first quarter earnings which were down 4.3%. Their bicycle division had been keeping them in the black while their core business has been significantly underperforming. I had strong suspicions that something other than “poor weather” was causing the financial slide and the insider comments below confirm it. Cannondale is likely looking for the handout from the state because their owners aren’t willing to pony up to move them while their business is on the rocks. In my opinion, a well run business wouldn’t be thinking of relocating while their not doing well. The disruption will only further cripple an ailing organization.

Comment on Malloy peddles $3 million to Cannondale to move to Wilton by Frank

Frank — Wed, 15 May 2013 01:21:41 +0000

You know what is really going on here is that the primary brothers Schwarz at Dorel can’t even get their principal payments back on this faulty Cannondale purchase they made in 2008. They were high on the hog with Schwinn GT Mongoose, and the CDale purchase was a poor decision. The interest payments are being paid, but what bank ever likes a partial payment? Not many, and the Schwarz’s want out.