Chemed (Che) On Nyse Going Chapter 11 Bankruptcy Soon!
The Chemed Company (CHE), owns Vitas Hospice Care and Roto Rooter Plumbing. Recently, they had quite a tumble on the stock market, and its not suprising at all. Numerous customer complaints are piling up, especially on behalf of their Roto Rooter operations, and the corporate executives would rather “run away than deal with precise issues.” I’m one of many currently upset with both Roto Rooter and Chemed, and while many of us do find it lively that their umbrella covers a end of life company along with a drain cleaning service, what really bothers us is a recurring trend. Roto Rooter is perhaps one of the better known plumbing companies, but their level of complaints is far above the average. All companies receive complaints obviously, as there’s no such thing as 100% satisfaction. What really matters is how a company reacts to such negative perceptions, whether they are lawful or perhaps otherwise.
Kevin J. McNamara, the CEO of Chemed, doesn’t seem to have any intellectual curiosity regarding a complaint I’ve lodged against his company. That’s how his executive assistant refers to Chemed, since he refuses to talk to me, even though I’ve been both patient and polite. She actually told me that “he was the end of the line,” but the last time I checked, he is accountable to the stockholders. That’s the bottom line of this publicly owned company, which seems to have a disorganization problem at the top. I had been transferred to an IT professional, who was more than kind enough, while filing my advise with this corporation. Then I was accused of contacting him, via information I somehow was privy to, even those his information along with most other employees is private. This sounds like an Enron type of situtation, with the executive team becoming unglued under the pressure, of a most certain demise in the very near future.
It doesn’t take a genius to see how Chemed is failing. A CEO asleep at the wheel, an executive assistant doing all of his work, along with rogue franchises taking swipes at other plumbing organizations, and a pattern that could indicate Roto Rooter of various abuses. I’m currently researching a trend, that shows a lot of complaints of Roto Rooter, that involves women and senior citizens. Once my research is completed it will be submitted here, and elsewhere. Already I have been in contact with others, some of whom descend in this important demographic, and what they’ve told me says I’m looking in the right direction. A few more rocks unturned might lead to more discoveries. So when I say that Chemed going Chapter 11 or out like Enron, is not a figment of my imagination, but rather more of a reality than a fantasy. Their financial weaknesses are great, and most of its due to their arrogrance and unpleasant leadership. A company, or any organization such a militiary regiment, starts with strong leadership at the top. Same goes for a sinking ship, but in that case the top brass is ineffective and callous. That sounds a lot like the folks at Chemed, who will be crying when their CHE stock investments bottom out. Sell, Sell, Sell!
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Filed under Franchise Bankruptcy by on Oct 8th, 2011. 
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