1. #1
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    Default Federal Signal E-One

    Will the departure of Bob Welding as CEO of Federal Signal have an effect on E-One????
    Rumors are flying E-One is on the block.
    Later

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    Peter Guile, the new president of E-One, met with the employees and told them that Federal Signal is not going to sell the company.
    I have only 2 allegiances, to my country and to my God. The rest of you are fair game.

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    Wink E-One Not For Sale????

    To think E-One is not for sale now would take a bad case of head-up-***** syndrome.
    The only reason to change management at this time would be because of E-One. All other divisions of the company are in good shape.

    Be safe.

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    My line of thinking is that it would be bad timing for FedSig to sell E-One when their performance is poor.

    If the new president can return the company to profitability, then FedSig can decide to sell or hold from a better leveraged position.

    Having said that, if FedSig didn't feel the company was able to turn things around, they would likely cut their losses and either sell E-One or close it down.

    I'm not a business analyst, but I did stay in a Holiday Inn Express last night.

    C6

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    Default E-One for Sale?

    Quote Originally Posted by Command6 View Post
    My line of thinking is that it would be bad timing for FedSig to sell E-One when their performance is poor.

    If the new president can return the company to profitability, then FedSig can decide to sell or hold from a better leveraged position.

    Having said that, if FedSig didn't feel the company was able to turn things around, they would likely cut their losses and either sell E-One or close it down.

    I'm not a business analyst, but I did stay in a Holiday Inn Express last night.

    C6
    I am a business analyst, and I have to agree with you, Command6. However, there are certainly strong indications that FedSig as a corporation, is moving away from hardware (Vaccum Trucks, Fire Apparatus, etc) and more into technology and communication interface. Their options are to "cut and run" or to try to return to profitability and then sell. With option 2, you have to wonder who would buy- a Capital Investment Group (similar to ALF and Seagrave) or another manufacturer.
    In order to return to profitability, E-One has to do several things: 1) LISTEN TO AMERICA'S FIREFIGHTERS and listen CLOSELY.
    2) Take what they hear to heart.
    3) Build Quality and Innovation (i.e.-watch what Pierce does and copy it)
    (not that I am a lover of Pierce - but they do many things right)
    It is truly unfortunate that E-One chose, in the late 90's, that quantity and not quality mattered. And, if it was quality, the definitions were fuzzy.
    Let us, as firefighters and stewards of the taxpayer's money, remember - competition helps us all!

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    Talking Inovations

    Thats what this forum is all about.Inovations,my department has looked over 5 new e-ones recently, cookie cutters, like my grandma use to make her Christmas cookies with (cookie cutters), if you helped her make them, and you changed the format she would hit you with her woodin spoon, the woodin spoon is what has happened to e-one, want this the $$$$ is outrageous, the only hope was from the man who left that tried to keep Fedsig alive with e-one.Remember , if a department wants something , you need to build it,the same old sugar cookies may taste good, but I like oatmeal, and someone may like chocalte chips.

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    Thumbs down Quality

    Federal Signal had quality and destroyed it. They had a highly dedicated group of employees (crafts-people) who cared about the product, now they have a group of assembly people. They invested in the US and now they support people of questionable immigration status. They had innovation and fired it. They had several fine facilities and closed them. Federal Signal did this damage to themselves.

    I am guessing the people around Red Deer Canada would agree with me.
    Fyrtrks

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    Draftmaster and Fyrtrks, you are both correct. E-One purchased Saulsbury, which was a highly customized, high quality apparatus. What a pity to see that happen, not only to the apparatus but to the Saulsbury people (and the Saulsbury name) who WERE what fire apparatus manufacturing was all about.
    Then there was the ORIGINAL American Eagle - a truly customized extruded aluminum apparatus - E-One turned that into its "program truck" which was a disaster. ALL for the sake of quantity to prove to a board of directors they were producing volume. In E-One's case, "you reap what you sow" is now coming home to bite them right in the hiney.
    Can it be saved? Let's get some INNOVATIVE IDEAS ON HERE!!
    WHAT WOULD YOU DO IF YOU WERE APPOINTED PRESIDENT OF E-ONE TODAY? You have poor morale, loosing market share, no innovation (to speak of) and a pitiful (with a couple of exceptions) distribution system.
    OK guys - let's have some fun and maybe someone in Ocala actually reads this forum!

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    I personally could give 2 sh**ts about e-one. There quality always sucked, but some people liked them. My problem is that they took a quality company, Saulsbury, down with them.

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    If I were to become the president I would probably keep a well stocked liquor cabinet and a bottle of Tums in my desk.

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    Quote Originally Posted by Firefighter1244 View Post
    If I were to become the president I would probably keep a well stocked liquor cabinet and a bottle of Tums in my desk.
    Finally a firefighter who has his priorities straight!!! Hell with the tums tho!

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    WHAT WOULD YOU DO IF YOU WERE APPOINTED PRESIDENT OF E-ONE TODAY? [/QUOTE]

    Put it on a Spartan chassis so at least 1/2 of the truck is worth a damn.

    and buy a liquor cabinet.

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    At this point, I'm not sure if this means anything or not. However, it wouls appear that Ramius Capital Group is now going to have a significant voice in Federal Signal operation.


    Investment firm buys stake in E-One parent company
    Raimus Capital Group may push for change at Federal Signal

    BY RICK CUNDIFF
    STAR-BANNER
    OCALA - An investment firm has purchased enough shares of E-One parent company Federal Signal Corp.'s stock to push for changes at the company.

    Ramius Capital Group LLC, based in New York, disclosed in a filing Friday with the federal Securities and Exchange Commission that it has purchased more than 3.5 million shares of Federal Signal stock. That's about 7.4 percent of the company's approximately 48 million outstanding shares.

    The news comes two days after Federal Signal announced the resignation of president and CEO Robert Welding.

    Representatives of Ramius Capital Group could not be reached for comment Friday. David Janek, vice president of investor relations for Federal Signal, declined to comment.

    Ramius is an "absolute return" fund, meaning investors can expect a specified dollar return each year, said Chicago-based financial analyst Walter Liptak, who covers Federal Signal.

    The Ramius filing indicates the investment firm "intend(s) to review their investment . . . on a continuing basis and have engaged and intend to continue to engage in discussions and other communications with management and the board of directors."

    Matters for discussion will include Federal Signal's overall business, including various business segments, potential changes to the business operations and "financial results and ways to improve its performance and the future plans of" Federal Signal, the report continued.

    Aggressive investment firms generally push hard for increased profits, Liptak said.

    "That usually means that they'll push for some kind of change, including management changes and sale of assets."

    Liptak declined to say what he thought the Ramius involvement might mean for Federal Signal or E-One, calling such projections "highly speculative" at this point.

    The SEC filing doesn't indicate that Ramius has yet made any specific requests of Federal Signal's board. In October, Ramius disclosed a 7.6 percent stake in A. Schulman Inc., an Ohio-based paint and plastics manufacturer. In mid-November, A. Schulman announced it had formed a committee to "explore strategic alternatives," including a possible sale of the company. At the same time, the company announced the retirement of longtime president and CEO Terry Haines.

    Ramius disclosed a 6.5 percent interest in California-based software maker Phoenix Technologies in June 2006. By January, Ramius attempted a hostile takeover of the company. That failed, but Ramius ended up with two representatives on the Phoenix Technologies board of directors.

    In October, Phoenix Technologies reported an 88 percent increase in revenue for the fourth quarter of its 2007 fiscal year compared with the fourth quarter of the previous year.

    Rick Cundiff may be reached at rick.cundiff@starbanner.com or at 352-867-4130.

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    Quote Originally Posted by Sandinmyboots View Post
    WHAT WOULD YOU DO IF YOU WERE APPOINTED PRESIDENT OF E-ONE TODAY?
    Offer two cab options, a fully customizable body/compartments, and three motor choices, I would elimintate the low cost, low option quick builds. This would provide for stability. Then I would hire people that actually care about what they are doing, limit orders initially to increase quality, therefore increasing sales over time. Then I would ensure that customer service is the best in the business.
    'Adversus incendia excubias nocturnas vigilesque commentus est"

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    Quote Originally Posted by toddmcbr View Post
    At this point, I'm not sure if this means anything or not. However, it wouls appear that Ramius Capital Group is now going to have a significant voice in Federal Signal operation.
    The involvement of "Capital Management" firms in mfg company management and operations hardly ever is a good thing. Pretty much a repeat of the conglomerate fad of a few decades ago except the parent company there at least had a "family" tie/committment to their foundlings.

    Same type of dilitants running the parent in either case though. Bus school grads usually marketing focused; busy busy shuffling a few million here and there day to day. Buy it today, lose interest tomorrow and sell it, on to something else. NO actual useful experience in engineering or manufacturing and detest the idea of getting the Guchi loafers soiled in a dirty old factory thingie.

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