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I don't like Franklin Covey, its an emotional response. I've never liked their calendar compared with others. Plus a few years ago I worked one day in their coporate offices with a temp assignment to help move their workers in their coporate headquarters -- an empty, grim, echoing building with haunting past glory. Paper calendars are on the way out, and leather purse and briefcases are a tight market. The only leverage they have is the wisdom of Covey, which, from what I could see a few years ago, just wasn't something the downsized economy wanted to pay for. I've picked it to lose.

 

Today (my day one) at first glance I'm losing to the stock. So for the first time I actually started poking around for information about the company. (By now the market shifted so I'm slightly winning).

 

In one hour I've read my first fiscal statement, and first annual report. It wasn't so difficult. They're making a little more money, and they've cut back a little on expenses, and there's some big tax revenue. And all that adds up to an eye popping number compared with third quarter. Calendar sales are down, but seminars are up. Their annual report explains that they've sold their Coporate Headquarters (Wow! I'll have to drive over and check that out) and 16 more retail stores, totalling 46 in the past two years. They are putting on more seminars, and are inventing more seminars. They've increased sales and marketing staff. They've worked to cut expenses all over. And hope for payoff next year. Further, their strong overall in the international markets (something I didn't think of in my emotional response -- oh yeah, Japan! *They* haven't all read Covey yet. Duh!)

 

So, I'm right that paper calendars are becoming a thing of the past, though its surprising how many they still sell.

 

I'm wrong that the wisdom of Covey isn't good business.

 

I'm right that a few years ago they were a sinking ship.

 

I'm wrong to think that applies to today. It looks like, and this the one line pitch, this company is taking steps to change with the times, and appears to be under good management. AntiofFinland may be right that this company is turning around.

 

However -- its still a listing ship - with calenndar sales guaranteed to continue declining. Its an uphill battle for this company for a few more years.

 

What am I doing playing caps when I don't know how to read all this stuff. Well, it wasn't on the required entrance exam, they just said "pick a stock."

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