Why does everyone at Lexmark and now the legacy- Xerox SLT think that everything that Lexmark do is fantastic. They lost $600 million last year so I do not understand???
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Join the coalition of🚽 against taking projectile bàrf due to Java. Tech PowerHouse.
Why Vader 3D
Why ACS
...
Why Crum and Forster, etc , etc
??
It's what we do
X
"Java UI caused 9/11" - Java ui guy
Doc feed roller guy is kinda like Java U.I. guy, alligator grip on a single benign issue that he can’t let go of.
Goodwill guy here.
There are two reasons to buy Lexmark: To buy time, and to make XRX a takeover target.
Buying time is obvious, and is kind of working. It's a 50 cent stock trading for $2.80. By that metric, they have been successful.
On the takeover target reason, this is a pipe dream without a bankruptcy filing. Too much debt and too little upside. XRX would have a chance if not for the billions in debt and ~1BN in unfunded pension obligations. If they file for reorganization and settle for pennies on the dollar, and fire 1/2 the employees after the filing, they might get picked up.
The dog that didn't bark is the lack of massive layoffs. That will happen at/in bankruptcy proceedings. The last round at 15% of headcount was a haircut, this time they will remove the entire scalp.
Payroll costs are obscured in the 10-K/Q but it's clear the payroll costs are vastly outsized by the debt load. XRX can't fire its way into profitability.
@gm I was in Kodak in the mid west when Danka took over, utter chaos, mismanagement of the highest order and open warfare between the two camps.
Looks like we are going the same way too.
Did anyone on this threat do thru the Danka purchase of Kodak imaging back in the 90's? Yes, I age myself being a survivor of that. The similarities of everything that has happened over the last decade here are staggering. Those that don't learn from history are doomed to repeat it. This does not end well.
Perhaps XRX can benefit from LXK to locate the customers and collect the money that is owed to them.
@eh now, when we order parts for a machine and don't use them, we're told to throw them away instead of returning them.
Lexmark the company that sends you an entire feed unit when all you need are the rubber rollers, that you can peel off and replace.
Real cost effectiveness 💰
Why not open a boutique and overprice everything and shovel money into it, as you run it in to the ground.
That’s the Lexmark way. It’s what they do.
We are watching a train wreck in slow motion again. The only difference is, some of you might know when to step outta the way of the train, this time around. 🚞
@br not investors pockets, except for the ACS guy. SLT pockets.
@ar “Lexmark is a far superior product with less break fix calls...”
You must have the secret part number for Lexmark doc feeder rollers?
" What are the benefits of this acquisition other than made up numbers on a slide deck, and the chance to parade more middle-aged, white, American men (with not a jot of diversity thought at all between them)?"
Don't you see? That is all they need to do! This company only exists to shovel money into investors pockets. Take the time, think about it, and realize that is the only reason it is here. Steve B still has a job to orchestrate the shoveling of said money. They just need appearance, they need the image of success. Made up numbers are the thing! No one actually cares about the color or ethnicity of board members or execs, that is all made up for optics. Don't be fooled by that nonsense.
@aa that was the question. What is good about Lex as everything is becoming Lex and it is a reverse take-over.
They acquired a company that they can now say is their own. Lexmark is amazing, lexmark is the greatest! Well sh-t, xerox is lexmark now, as lexmark is xerox.
They're saying they themselves are the greatest company to exist.
When was the last time we simply heard about all the existing copiers and printers that our customers own that constantly break down, week after week? Do we ever see some kind of news about existing equipment billing issues, supply issues, service issues? It's all very niche business instead. Financial services, AI, IT services.
They absolutely ignore their existing business objective in order to dazzle you with bullsht.
@a9 I agree. What are the benefits of this acquisition other than made up numbers on a slide deck, and the chance to parade more middle-aged, white, American men (with not a jot of diversity thought at all between them)?
Cuz they know in their peanut size brains, XRX side doesn’t have a chance. How messed up do you have to be to admire a $600m loss?
Cue the hate, Lexmark is a far superior product with less break fix calls and software issues.
I say this as a Xerox field tech who works on both and the only printers and MFPs ,customers actually like their Lexmark machines for the most part.
Because it's "shiny" and senior management likes new things. Think of the tektronics, ACS, vader systems acquisitions. All were, I believe, huge losses for the company.
Ninestar buys Lexmark for 3.6 billion in 2016. Xerox buys it 1.5 billion but that “deal” is mostly debt.......... Did the Lexmark deal include anyone from Ninestar or at least a 5 slide deck on how to sell this? If there is anyone via Lexmark with a pocket of Ninestar brand magic beans, they should totally be running things.
They are just hoping that Lexmark will save the day......
@OP What exactly do people think Lexmark does that is good? SLT is going to choose the most advantageous policy or perk from Lexmark/Xerox for its own benefit. Both companies are dumpster fires that have joined to become more flammable.
@OP I agree 100%. Based on my current interactions with them - let’s just say it’s bonkers. How they operated is beyond me. XRX can’t clean their sh-t up. It’s beyond repair - and add the Xrx standard issues and it’s a recipe for disaster. Add in the fact that XRX has no money, doesn’t innovate and is essentially winging it, this acquisition cannot be seen as positive. Anyone who can tell me the benefits of buying this company - I’m listening. Their financial performance last year says it all.