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LL - Lumber Liquidators: Recent Changes Have Killed Growth
Lumber Liquidators Holdings Inc
If It Ain't Broke, Break It...
To a man with a hammer, everything looks like a nail. —Warren Buffett
The above adage perfectly describes the recent actions of senior management at Lumber Liquidators (LL). From the moment Dennis Knowles assumed the CEO position, with the goal of turning around the company, he started to "fix" things with his proverbial hammer. The problem is that many of those things were never broken to begin with and fixing them with a "hammer" only made matters worse.
Mr. Knowles has "professionalized" the company. Created checks