Thursday, March 29, 2007
Upcoming changes to be announced at June stockholder meeting, from ongoing discussions and from meeting with GM's last Friday:
---All associates will earn 1 "personal" hour for every 60 hours worked. A full-time associate working 38 hours a week will earn approximately 6 weeks of personal time a year. Hours can be used for vacation, personal time, or to cover for illness. Salaried personnel will have 30 days added to their checks as of 7/1, hourly will have all hours divided by 60 added to their checks as of 7/1; minus what has been taken since 7/1/2006.
---Hours can be "banked" up to 240.
---After 5 years of service, full-time associates will have a 3 week "sabbatical" leave added to their check, must be taken within 3 years. PT associates will receive a 2 week sabbatical leave, which will be paid at their average amount of hours over the past 5 years. Additional leaves will be granted after 8 years, and every 3 years thereafter. Sabbaticals must be taken in increments of one week at a time, minimum (fine to take the entire sabbatical at once, that's the intention). Can be banked.
---As of 7/1/2007, all insurance will be $500 deductible and $0 co-pay for preventive care. $0 co pay for clinic visits, $5 for urgent care/walk in visits, and $50 for ER visits. American Pride will pay 85% of cost for FT, and 75% for PT.
Current monthly costs are $925 for single, $1450 for married (or single plus one), and $1725 for family. We have eliminated all lifetime maximums.
---All FT associates can choose to volunteer 4 hours a week and work 36, and get paid for 40. A list of approved community service is on the website. 8 e/o week is also available.
---All PT associates can choose to volunteer 4 hours e/o week or 8 hours a month as well.
---Concession prices will go up between 10-20%, depending on item. All will end in .00, .25, .50, or .75, and will have tax included.
---Admission prices will rise to $2.50 for adults. $1 special promotions will continue, and for child admission.
---More hot selections at non-destination theaters.
---Popcorn flavor packets will be added at all theaters.
---Profit sharing (commonly referred to as holiday bonuses) will be increased to 10% of previous 52 week wages earned, will be paid on first Friday after 11/1, and will now be for the face amount (taxes paid by company). They will also be rounded up to the nearest $100. Example, you made $15,000.24 in the period, your total would be $1500.02, your check would be $1600, all taxes and such paid by company.
---Stock will be gifted as it has in the past, 10 shares to all PT associates and 25 shares to all FT associates annually. Because of our previous splits, a PT associate with us since who opened a 2002 theater now will own 250 shares as of 11/07, a FT 625 shares.
---We expect a 10-20% decline in our stock price, due to these changes, as well as the announcement we are near our full amount of "budget" theaters. We will open about a dozen first-run theaters per year in the next 5 years or so and then see where we are. We will also be opening about 75-100 "cinema cafe" style theaters, mainly 2-3 "clustered" in large metro suburban areas, beginning in 2008. These will have 3-6 screens, with 4 being the most often seen, and will have 3-4 showings on weekends and 1-2 on weekdays. Food will focus on pizza, burgers, and sandwiches, with inexpensive side items also available. Average bill expected to be $7 per person, no minimum. Admission will be in the $1-2 range. No alcohol will be served.
---All associates will earn 1 "personal" hour for every 60 hours worked. A full-time associate working 38 hours a week will earn approximately 6 weeks of personal time a year. Hours can be used for vacation, personal time, or to cover for illness. Salaried personnel will have 30 days added to their checks as of 7/1, hourly will have all hours divided by 60 added to their checks as of 7/1; minus what has been taken since 7/1/2006.
---Hours can be "banked" up to 240.
---After 5 years of service, full-time associates will have a 3 week "sabbatical" leave added to their check, must be taken within 3 years. PT associates will receive a 2 week sabbatical leave, which will be paid at their average amount of hours over the past 5 years. Additional leaves will be granted after 8 years, and every 3 years thereafter. Sabbaticals must be taken in increments of one week at a time, minimum (fine to take the entire sabbatical at once, that's the intention). Can be banked.
---As of 7/1/2007, all insurance will be $500 deductible and $0 co-pay for preventive care. $0 co pay for clinic visits, $5 for urgent care/walk in visits, and $50 for ER visits. American Pride will pay 85% of cost for FT, and 75% for PT.
Current monthly costs are $925 for single, $1450 for married (or single plus one), and $1725 for family. We have eliminated all lifetime maximums.
---All FT associates can choose to volunteer 4 hours a week and work 36, and get paid for 40. A list of approved community service is on the website. 8 e/o week is also available.
---All PT associates can choose to volunteer 4 hours e/o week or 8 hours a month as well.
---Concession prices will go up between 10-20%, depending on item. All will end in .00, .25, .50, or .75, and will have tax included.
---Admission prices will rise to $2.50 for adults. $1 special promotions will continue, and for child admission.
---More hot selections at non-destination theaters.
---Popcorn flavor packets will be added at all theaters.
---Profit sharing (commonly referred to as holiday bonuses) will be increased to 10% of previous 52 week wages earned, will be paid on first Friday after 11/1, and will now be for the face amount (taxes paid by company). They will also be rounded up to the nearest $100. Example, you made $15,000.24 in the period, your total would be $1500.02, your check would be $1600, all taxes and such paid by company.
---Stock will be gifted as it has in the past, 10 shares to all PT associates and 25 shares to all FT associates annually. Because of our previous splits, a PT associate with us since who opened a 2002 theater now will own 250 shares as of 11/07, a FT 625 shares.
---We expect a 10-20% decline in our stock price, due to these changes, as well as the announcement we are near our full amount of "budget" theaters. We will open about a dozen first-run theaters per year in the next 5 years or so and then see where we are. We will also be opening about 75-100 "cinema cafe" style theaters, mainly 2-3 "clustered" in large metro suburban areas, beginning in 2008. These will have 3-6 screens, with 4 being the most often seen, and will have 3-4 showings on weekends and 1-2 on weekdays. Food will focus on pizza, burgers, and sandwiches, with inexpensive side items also available. Average bill expected to be $7 per person, no minimum. Admission will be in the $1-2 range. No alcohol will be served.
Saturday, March 24, 2007
MEMORIAL DAY WEEKEND DOUBLE FEATURES
1. Dumb and Dumber/There's Something about Mary
2. Uncle Stu/3 Months
3. Apollo 13/Saving Private Ryan
4. Shrek/Shrek 2
5. Back To the Future/Ferris Bueller's Day Off
6. Forrest Gump/Groundhog Day
7. Home Alone/Honey, I Shrunk The Kids
8. Twister/Speed
9. Office Space/Galaxy Quest
10. Terminator 2/True Lies
11. Meet The Parents/Wedding Crashers
12. Jackass/Jackass 2
Press release issued 3/28, discussion has been far greater than anticipated. Many theaters report people inquiring about advance tickets and showtimes, phone calls, e-mails, and online hits all at record pace.
Planning a second wave starting July 3rd-8th, and another Labor Day weekend.
1. Dumb and Dumber/There's Something about Mary
2. Uncle Stu/3 Months
3. Apollo 13/Saving Private Ryan
4. Shrek/Shrek 2
5. Back To the Future/Ferris Bueller's Day Off
6. Forrest Gump/Groundhog Day
7. Home Alone/Honey, I Shrunk The Kids
8. Twister/Speed
9. Office Space/Galaxy Quest
10. Terminator 2/True Lies
11. Meet The Parents/Wedding Crashers
12. Jackass/Jackass 2
Press release issued 3/28, discussion has been far greater than anticipated. Many theaters report people inquiring about advance tickets and showtimes, phone calls, e-mails, and online hits all at record pace.
Planning a second wave starting July 3rd-8th, and another Labor Day weekend.
Saturday, March 10, 2007
On Forbes on Fox, 3 stock picks:
LEND, selling at about 50% of liquidation value, nothing but long-term upside, 16.
WM, solid West Coast bank, being taken down unfairly because of subprime concerns. Selling near 12 month low, company has had tremendous growth in past year, 42.
GS, close to a printing press. Selling at less than 10x projected earnings, and at about 9x future earnings. Buy on any dip whatsoever, and soon, you'll have an entire part of your portfolio filled with this safe, outstanding finacial company, 190.
LEND, selling at about 50% of liquidation value, nothing but long-term upside, 16.
WM, solid West Coast bank, being taken down unfairly because of subprime concerns. Selling near 12 month low, company has had tremendous growth in past year, 42.
GS, close to a printing press. Selling at less than 10x projected earnings, and at about 9x future earnings. Buy on any dip whatsoever, and soon, you'll have an entire part of your portfolio filled with this safe, outstanding finacial company, 190.
