Papa Johns stock chart

[JohnnyRingo]

Papa Johns head John Schnatter may well get an award as least competent CEO.

After making stupid comments about firing people and cutting hours to prevent giving employees health care, his company sent unwanted emails to half a million people offering pizza deals. His company is today facing a huge lawsuit for their willful negligence.

This is how Schnatter fared during the last four miserable years of business with a "socialist Kenyan dictator" in the White House:





That's a stock that rose from just over $10 a share to almost $55.

I know how the 1% think, and I'm sure Schnatter would say he did that well in spite of the stranglehold of govt restrictions, and that he's a corporate genius. Let's zoom in on the chart to show just the last 30 days when this Mensa Merchant Megastar decided to open his big mouth and tell half the country to find another pizza shop:




That chart shows investors eating 20% of their money in less than a month. Anchovies smell like ambrosia compared to Papa Johns stock now, and it hasn't hit bottom yet. Imagine a pizza with two slices missing. That's what an investor's portfolio looks like now.


For this, "Papa John" Schnatter pays himself $1,38 million a year including a Cadillac health care plan. Shareholders may well have a somewhat different list of who should get a layoff notice. I know I would.

[ProudProgressiveNow]

1. K&R nt

[blogslut]

2. Just to clarify

The lawsuit is new but the text spamming happened two years ago.

As far as the health care thing, I have my doubts that any measurable percentage of his employees (outside of corporate) were ever allowed to work the required 40 hours to qualify for coverage. My guess is he's blowing smoke outta his ass.

[JohnnyRingo]

4. You're right about the violation

And it should have been a red flag to anyone putting their retirement in PZZA, but can there be anything more stupid than a CEO blowing smoke out his ass to make a political statement?

Given that, I think the board has legitimate cause to claim mental deterioration in demanding Schnatter step down. I'm sure it's just grumbling among major stockholders for now, but wait and see how low it goes. Schnatters days may be numbered and he would be well advised to start packing his golden parachute.

[SidDithers]

3. ...

Sid

[Sheepshank]

5. pisses and moans about health care he already DOESN'T provide for employees

but conveniently forgets to proclaim policies that clearly did not stymie 500% growth over 4 years.

Typical.

[cash__whatiwant]

6. Poppa Johns sucks

pizza hut >>>

[Anthony McCarthy]

7. I only wish I could say I ate the stuff

so I could stop eating it to do my part to drive it down more.

[struggle4progress]

8. Holy shizz! I can't believe how the poor dude has suffered!

[Scootaloo]

9. "Mensa Merchant Megastar"

[KharmaTrain]

10. Too Soon To Tell...

Remember, the market's been down almost 1,000 points since the election. Once a resolution to the "budget cliff" comes forward, watch the market head upwards. Plus I expect a year end rally as consumer spending will be higher this year than last year.

That said, I'm hoping Schnatter sees his deck of pizzas collapse around him. Let's see how his tantrum affects sales this quarter...cause if those drop, then watch that graph really tank! If that stock drops to $20 a share, then we're seeing a stockholder bail and a company in serious trouble.