Heidelberg gets a shellacking…

by admin on June 11, 2009

Wohoo baby, the bloodletting continues: Heidelberg profits disappear in the most difficult year of their history.

Initial thoughts: Man, Bernard  Schreier is looking good considering the crappy year he's had and how long he has been at the helm at Heidelberg. Who does his hair? I think he became C-E-Big-O back in the nineties, I remember him and Amos battling over details of the JV between Heidelberg and Creo in '98.

Second thoughts: 347 million euros loss, oh we've all seen worse. But a sales drop of 18% to 3 billion? Brutal. Five thousands job on the chopping block, but no risk of bankruptcy, they've got loan guarantees from the German Feds.

For some reason this reminds of  Amos. I remember him talking one time about how pissed off he was competing against the Japanese companies (I think it was Dnaippon Screen, or maybe Fuji). We were smokin' the Japanese prepress division in head-to-head sales so hard that they were bleeding red ink for like 4 years in a row and he said something like, yeah overseas those guys lose money for ten consecutive  years in a row and they just go to the government for a bailout. We lose money two consecutive quarters in North America and I'm out of a job.

Unfortunately, he was right. Well, unless you're GM or Chrysler or a bank. Then you get the bailout bonus.

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