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Author: relisys99 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 15  
Subject: Has JLK hit bottom??? Date: 10/28/1998 10:09 PM
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I've been watching JLK for quite some time. Wonder if anyone has insight when mro tool business will make a turn-around? This looks like it could be a bargin!?!?
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Author: 2canchew Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3 of 15
Subject: Re: Has JLK hit bottom??? Date: 1/20/1999 11:06 PM
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As a former employee of JLK I do not expect a turnaround anytime soon. The firm is weight down by poor mid-level management who have no practical skills, training or formal education. The results are a general lack of leadership, particularly in the puchasing function. This mid level management issue is a critical issue for JLK because of its horizontal make up, from stock person to General Manager there is only 3 levels of supervision. If I were to risk investing, I would do day trades, buying on dip and selling on any upward movement. The mid level management issue is a critical problem because of a lack for

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Author: 2canchew Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4 of 15
Subject: Re: Has JLK hit bottom??? Date: 1/20/1999 11:09 PM
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Just an FYI I posted a reply

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Author: ricklow Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 5 of 15
Subject: Re: Has JLK hit bottom??? Date: 1/31/1999 12:50 PM
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Like you, I know this company very well. I have known this company since Joel & Irwin started it - J&L stands for Joel and Laurie. JLK stock is driven by KMT. As you may remember in Sept of last year, top mgmt (M.R. and henchmen) was purged and KMT stepped in with their own guy to run things (same guy that originally set up the purchase of J&L for KMT). He is a finance guy and has made major changes of late i.e. cut resale discounts to dealers. Stopped all acqisitions of traditional dealers (Strong Tool lost tons of $ for JLK). Of all the catalogers JLK has the brightest future for one reason only...KMT.Deep pockets. JLK will do exceptionally well long term because they are on track now and have the backing of one of the most powerful metal working companies in the world. Stay away from MSC - just can't be doing what they are doing - figures don't add up.

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Author: 2canchew Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6 of 15
Subject: Re: Has JLK hit bottom??? Date: 2/7/1999 12:57 AM
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Yes, what you have said about J&L's history is true, and yes, there has been a major upper level management change. But, the fact remains, the mid-level management is seriously lacking. With no education beyond high school these managers are the mill stone around the neck of J&L and the reason why employee turnover is so high. This firm will have to continue to try and woo away talent from better run operations. Graingers is, by my experience, the leader in this field and will continue to be, because of it's overall management style and position in the market place.
As for MSC, while it would appear, they have become too large and ungainly, their staff is more knowledgable, and the product gets delivered right the first time.

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