I see they released a statement on 2013 earnings. They expect a break-even to loss in the first quarter due to their earth moving division. If I am correct that means Broda loses more money in one quarter than all of the other divisions combined. This seems ridiculous.
As with Jim Houck, they forecast bright days ahead. What has changed since Jim lost his job? Has Doug suddenly become a construction guru and changed that losing backlog into profits? Has he waved his magic wand and made all those incompetent guys at the divisions suddenly geniuses? Doubtful.
It's the same old pablum - apologize for the current quarter and promise that things will get better. Why don't they just stand up and say " we have issues, here they are and we are committed to addressing them." They don't say that because Doug does not understand construction and does not know what the issues are. Make no mistake about it, the current leadership is going down the same path as Jim Houck but without the atmosphere of terror - bully the divisions into optimistic forecasts and then demand severe cutbacks so they can't meet the forecasts. The board just eats it all up.