www.PrintingWikiLeaks.com

                                     Printing industry M&A has long been a playground for criminal minds.

Julian Assange, portrait

“Liars’ brains are wired differently.” USC News

“The more you lie, the easier it gets.” NY Post

Doing for Printing what WikiLeaks.org is doing for politics.

An indictment of Big Printing’s performance artist peacocks.

The documents that expose fraud and folly in the printing industry.

John Walsh, headshot

                                                                        I don't give them Hell. I just tell the truth about them and they think it's Hell.” — Harry S Truman, 1948

 

analyzing

Links to Cenveo analysis.

LATEST!    Printing’s Beavis-and-Butthead M&A Tag Teams.         The Cenveo Horror Picture Show.         Q3 2017: More Cowbell!

Titanic, sinking left

Debt$1.0 billion.

Losses$1.3 billion.

Bankruptcy — imminent.

Or a Burton-vs.-Reilly style
hostile takeover by
Nat Puri.

Any fool can buy a company.

Cenveo for Dummies.

Lather, Rinse, Repeat.

Reilly is very bad at math.

Bob Burton’s insane plan.

Cenveo vs. EFI.

Memo to EMA, bankruptcy.

Reilly/Burton=Madoff/Kevorkian.

Bob Burton’s delusions.

Cry me a river, Bob.

Memo to EMA, crime families.

Sleepless in Stamford.

Burtons are a crime family.

David Letterman’s friend.

Memo to EMA, Paul Reilly.

The British are coming — Maybe.

Cenveo avoided bankruptcy.

How to bankrupt Cenveo.

Reilly was an arsonist.

Will Cenveo bankrupt next?

 

Analysis of Cenveo’s first Black Friday — 27 October 2017.

Cenveo is the 6th largest printer.

In 2016, sales were $1.7 Billion.

Debt was $1.0B — losses $1.3B.

·    On Wed 25 Oct 2017, NASDAQ:CVO shares plunged to a record low of 14.75 cents/share (in historical terms).

That’s down 99.4% from the (ridiculous) May 2007 record high of $26.50/share. ($31.43 in today’s dollars.)

·    On Fri 27 Oct 2017, gamblers called ‘swing traders' toyed with Cenveo’s stock like cats with a mouse.

It costs them nothing to trade with their cell phones — using the RobinHood app, for example.

·    Black Friday’s trading volume was 136x normal —  4,942,025 shares vs. the post-split average of 36.1K shares.

CVO’s share price fluctuated wildly from $1.30 to $2.04. (16.25 cents to 25.50 cents, in historical terms.)

You can buy the entire company for $11 million — but only if you need a tax loss, because it will bankrupt.

·    This is going to be a horrible $2 BILLION catastrophe that will further traumatize Cenveo’s 7,300 employees.

Not to mention the banks who entered 2017 holding Cenveo’s $1.0 BILLION of debt, at 6.8%.

Not to mention the 40% of the nation’s mail shops who buy their envelopes from the Cenveo Frankenstein.

Cenveo’s Historical Stock Prices.

Allianz’s devastating takeover analysis.

Stick kick

Why hasn’t the Burton crime family
been given the boot by the Board?

 

A close up of a sign

Description generated with very high confidence

Idealliance crime family members Ken Garner and Mike Philie are gone.

Abducted by the same space aliens that snatched Gary Pawlaczyk!

 

Space cow

David Steinhardt, headshot

Ken Garner, headshot

   Ken Garner and Mike Philie have silently disappeared from the Idealliance crime family — just like Gary Pawlaczyk did in June of 2016.

   As Cenveo’s EVP of Sales, Pawlaczyk lost $491M and was notoriously abusive to his staff — and was finally fired by the Burtons.

   But, Oops!, he forgot to mention all this to Epicomm — and Garner and Philie failed to perform due diligence when they hired him.

   Even after being warned about him, Garner and Philie made Pawlaczyk the headliner of their 2016 Epicomm Experience conference.

   At the conference, Pawlaczyk was spotlighted and featured, selling his snake-oil, science fiction Solutions Providerfantasy.

   After Pawlaczyk’s public exposure, Steinhardt fired him — but stealthily concealed that fact from the industry and from the press.

   Pawlaczyk scrubbed Epicomm from his LinkedIn account (BEFORE/AFTER) and Idealliance quietly scrubbed him – in a conspiracy of silence.

   Idealliance’s leadership has failed to sue Pawlaczyk for his felony theft-by-deception of $100K+ of member dues (as salary and benefits).

   The Board and Steinhardt, therefore, should be swept out of office and replaced by candidates who run on a platform of transparency.

   Note that Idealliance is vocally outraged by truth telling, but doesn't give a hoot about Pawlaczyk’s slithering away with member dues.

Epicomm logo

Mike Philie, headshot

Gary Pawlaczyk, headshot

 

Dundee

Crikey! It’s time for printers to begin draining their industry’s “leadership” Swamp!

This site seeks to do so in an easy-reading fashion — with funny graphics as well as boring SEC documents.

Drain the swamp

Memos.

Hot Items.

Comments.

EFI, Printcafe, & Creo

A $330M criminal securities fraud.

Cenveo

A $2.3 BILLION M&A disaster.

Idealliance

Management Covered Up VP fraud/firing.

The Sheridan Group

A $127 MILLION M&A disaster.

FCI Federal

Harboring a Sheridan Abuser.

New Direction Partners

Reilly’s 17% CAGR claim is fraudulent.

Saturn Partners

Harboring a criminal securities fraudster.

Carnegie Mellon Univ.

CyLab was founded by the MUSIC MAN.

British Columbia, Canada

B.C. needs a better class of HEROES.

The Industry Press

Continues to publish Paul Reilly.

Psychiatry

Some of these perps are “Mental.”

 

Joe

Jury

Farm film report

Keystone kops

Big Jim and Billy Sol say:

“Yeah! Printing’s leadership is gonna blow up,
REAL GOOD!”

 

 

Webmaster Notes

The two major target audiences for this whistle-blow’s e-mail memos are tens of thousands of “Joe & Joan Printers” and — during the Cenveo shareholders’ lawsuittwelve jurors.

Other groups include attorneys, British Columbia’s press, Carnegie Mellon, EFI’s directors, FCI Federal, Pittsburgh reporters, Printing’s press and associations, and Saturn Partners.

 

Dickens batman

Q: So, what is this colorized graphic novel of a website really all about?

A: The site contains exhaustively documented whistle-blowing about printing industry “leaders” whose
behaviors are consistent with 1)
malignant narcissism and/or 2) grandiose delusional disorder!

 

Regrettably, some of Printing’s “leaders” are as
self-dealing and corrupt as the worst political hacks in DC.

Bootlicker

This website is an online intervention to
tell the truth to “Joe Printer” and “Joan Printer”
and to slap some sense into those printing industry “leaders”
who have a masochistic fetish for licking the boots of their abusers!

 

Playbill

Here are the stars and bit players of Printing’s drama:

Cameraman

Alphabetical Cast of Characters

Armstrong

Armstrong

Bozuwa

Bozuwa

Bob

Burton

Rob

Burton

Mike

Burton

Joe

Burton

Cagle

Cagle

Davidson

Davidson

FdCompany

Fd’Company

Garner

Garner

Gecht

Gecht

Griffin

Griffin

Guttman

Guttman

Herbst

Herbst

Hess

Hess

Kaplan

Kaplan

Krouse

Krouse

Michelson

Michelson

Michelson

Michelson

Olin

Olin

Pawlaczyk

Pawlaczyk

Peterson

Peterson

Philie

Philie

Puri

Puri

Quadracci

Quadracci

Reilly

Reilly

Saxton

Saxton

Schaeffer

Schaefer

Siegfried

Siegfried

Streeter

Streeter

Steinhardt

Steinhardt

Stricker

Stricker

Taffler

Taffler

Tolson

Whang

Whang

 

 

 

 

 

 

 

 

Hover your mouse over a headshot to read brief Webmaster comments.

Click to read recent material related to that character.

 

Here are some notes about the financial analysis on this website.

cenveo

Financials for this doomed, executive looting M&A disaster are analyzed through the end of 2016.

SHERIDAN

Financials are analyzed through the end of 2012, when this massively-indebted M&A ego trip stopped reporting to the SEC.

PRINTCAFE

Financials are analyzed through the end of 2003, when this criminal M&A ‘Dot-Con’ bankrupted, and was stolen from Creo by EFI.

ROUNDING

To facilitate document searching by reporters and attorneys, citations from financial reports are truncated rather than rounded up.

INFLATION

Debt amounts are unadjusted — other dollar amounts have been inflation-adjusted to March 2017 using the BLS CPI inflation calculator.

Webmaster
Notes

Due to inflation, debt principal is effectively larger in the past and is effectively reduced by the passage of time — but to avoid confusion, we will not inflation-adjust debt amounts for reporting purposes.

The effect of interest from debt on a company’s financials is reflected as a reduction in earnings or an increase in losses — in Cenveo’s case, those Burton/Reilly losses are an astronomical $1.26 billion!

 

Judge

Q: Why does this comic-book website exist?

A: To seek justice in the “Court of Public Opinion!”

 

Sheridan

United Litho

Garner

Tolson

The now-defunct United Litho (ULI) was a Sheridan Group acquisition.

This website exists because ULI President Ken Garner condoned abuse.

Wizard

SEC

ULI’s unethical business practices led to the study of Printcafe after Sheridan’s CEO endorsed it.

(Sheridan’s CEO endorsed Printcafe in return for 100,000 undisclosed pre-IPO stock options.)

Cenveo was studied because its CEO endorsed Printcafe in return for free software.

The Sheridan, Printcafe, and Cenveo online SEC reports reveal them to be financial failures.

Anybody who bothered to read those online financial reports could have created this site.

So, where were all you industry “wizards” who preach to us about M&A?

 

 

Printing’s problem — in a Nutshell — for Dummies.

 

Squirrel

Dummy

“Study after study puts the failure rate of mergers and acquisitions
somewhere between 70% and 90%.”
Harvard Business Review, March 2011

 

Peacock

Numerous Printing celebrities are abusers and executive looters in massive, failed M&A monopoly schemes.

Some of them have committed federal felonies — and as a group they have vaporized over $3 billion!

The biggest liars actually tout their financial disasters — e.g. Guttman, Olin, Gecht, and Reilly.

 

Bang

Guttman

Cenveo

Copperleaf

Creo

CyLab

EFI

Idealliance

Matrix

NDP

Printcafe

Saturn

Siegfried

Sheridan

United Litho

FCI financial

Sheridan

Printcafe

Cenveo

Printcafe

Printcafe

Printcafe

Printcafe

Cenveo

Printcafe

Cenveo

Printcafe

Printcafe

Sheridan

Sheridan

Sheridan

Sheridan

Stricker

Guttman

Burton

Reilly

Pawlaczyk

Michelson

Hess

Michelson

Hess

Guttman

Gecht

Olin

Pawlaczyk

Whang

Reilly

Guttman

Olin

Whang

Guttman

Davidson

Saxton

Davidson

Stricker

Garner

Peterson

Tolson

Tolson

 

 

 

 

The PrintingWikiLeaks website is dedicated to the only honest man in Printcafe.

 

Webmaster

Hey, I couldn’t make
this stuff up if I tried!

Taffler

This website is dedicated to the late, great Jon Taffler — founder of PSI Software — the first company acquired by Printcafe — for $25 million. ($15M cash and $10M of worthless Printcafe stock.)

Jon quickly realized that Bill Guttman, Marc Olin, and Joe Whang were lying about having “e-commerce for printers” — and he repeatedly whistle-blew that lie to Creo CEO Amos Michelson and to Creo-VP (and later President) Judi Hess. (Printcafe was launched with $36M [in 2017 dollars] of Creo cash.)

This website is also dedicated to the 10,000+ employees of Printcafe, Cenveo, and The Sheridan Group who lost their careers because of insatiable management greed.

Unemployment

 

Webmaster
Notes

Hess investigated Jon’s whistle-blowing and wrote Board Chairman Michelson a detailed report — which he suppressed, allowing Printcafe to vaporize $330 million before it bankrupted.

By not immediately withdrawing Printcafe’s 2000 IPO Prospectus which fraudulently claimed to have “electronic commerce for printers,” Michelson became a criminal under 18 USC 1001.

He became a criminal again when Olin’s 2002 IPO Prospectus fraudulently claimed that Total revenue increased from $4.4 million in 1999 to $25.3 million in 2000, an increase of 474%.”

Michelson had ousted the abusive Guttman when — rather than go on trial in Pittsburgh’s federal district court — he, Hess, Olin, and Whang settled shareholder charges of securities fraud.

Creo initially invested $25 million (in Y2K dollars) in the catastrophically failed Printcafe — a software monopoly “roll-up merger.” Later Creo invested and lost scores of millions more.

 

Rogues gallery

 

Big picture

Cenveo’s CEOs have looted their shareholders for $100M+ of salary while saddling them with $1.26 billion of losses and $1.01 billion of debt!

Mahoney gobbled up 150 plants and 16,000 workers; Reilly desperately slashed down to 80 plants and 10,000 workers; Burton ran the debt up to $1.4 billion.

New direction partners was founded on the basis of Reilly’s lies about his M&A ‘super-success’ — in reality, Cenveo is a multi-billion dollar catastrophe.

Idealliance’s Garner and Philie hired/fired Cenveo’s vicious Pawlaczyk to be a Business Advisor VP — a fact that he has erased from his LinkedIn profile.

Printcafe’s Guttman, Olin, Whang, Michelson, and Hess created an IPO/M&A software monopoly scheme that lost $330M before it collapsed, bankrupt.

saturn partners incorporated Guttman, despite his public record Printcafe securities fraud and his Lehman Bros. Aileron hedge fund fraud.

Carnegie Mellon hired Guttman on the basis of his bogus Printcafe résumé; He became a founding director of CMU’s CyLab which focuses on identity fraud!

EFI’s Gecht stole Creo’s Printcafe software monopoly by paying off Olin ($200K) and Whang ($150K); Now he crows about EFI’s 70% software revenue growth.

Sheridan’s Saxton took $1M+salary and paid 12.5% on $150M; He made top executives out of 30-year-old arm-candy sisters, Davidson and Stricker.

United Litho’s Peterson and Tolson lied to clients, staff, and vendors about company policy and USPS Periodical regulations, with Garner’s tacit approval.

FCI Federal just hired Tolson as an Operations Analyst, unaware of his public record issues with: abuse of women, incompetence, pathological lying, and thievery.

 

 

Webmaster Legal Note

To defame a public figure in VA, you must have published statements that are “knowingly and willfully, false and damaging.” See The Law of Defamation in Virginia.

 

“Intentional misstatements or omissions of facts constitute federal criminal violations.”  (See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).)

On 03-Aug-2017, EFI effectively confessed to cooking its books …

causing the 04-Aug-2017 $1.0 billion ‘Black Friday’ stock price crash …

and triggering legal action by 26 securities fraud law firms!  (Recently increased to 27!!)

Glasshouse Research logo

EFI corporate logo

David ReederGill Cogan

Thu Oct 13 2016

The GHR EFI Report.

Mon Oct 24 2016

Guy Gecht disses GHR.

Tue Jul 18 2017

Memo to Reeder & Cogan.

Thu Jul 20 2017

The Three Amigos memo.

Wed Jul 26 2017

The Bootlicking memo.

Thu Aug 03 2017

Directors finally act!

Webmaster Note: The investigative accountants at Glasshouse Research crafted the vampire-slaying, silver bullet that pierced the heart of the decades-old EFI/Opus Capital crime family.

Since Opus is sheltering 1) EFI stock-option backdater Joseph Cutts and 2) EFI stock pumper-and-dumper Dan Avida, maybe they will also hire Guy and Marc -- after they get out of prison!