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Stang10

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  1. Obviously I can state it as fact, but as far as I'm aware, there has been no survey sent out, in mass, to current HQ employees about the style of office they would prefer. Obviously you can't make everyone happy, but from everyone I've spoke to, I haven't had one positive reactive to an open floor plan, like you'd see out west in some of the tech hubs. Also, I'm 100% against floor plans with conference rooms that are in the center of a floor with glass walls.
  2. Speaking of the design and it being a modern building with open floors. I can tell you, there aren't that many people excited about a open layout/design for the building. Everyone I talked to is 100% against the open design style. Nobody wants to be doing their work and being able to see other people working out of the corner of your eyes the entire day. Also, when you talk on the phone, at least cubicles offer some sort of privacy/noise reducing qualities to them, with nothing around you, you're going to be picking up everyone's conversation around and people will be listening in more than every. Obviously my sample size is very small when talking to people, but I think people are more excited about functional elevators rather than open floor plans.
  3. Ken, I'm not expert in building timelines, but even with a slightly delayed start to the HQ/RD project. Do you see how they can put up a building of the projected size in less than 3 years?
  4. I know COVID-19 isn't affecting major constructions projects, but SW doesn't make the majority of their money on these major construction projects. They strive doing business with small time painters that are buying paint to paint in your home (Residential Repaints). You will probably see DIY sales tick up a bit because people are doing some work from home, but you're going to see a drop off in the customers that are going into people's home. Also, they closed the sales floor to the stores and significantly shortened their hours, you don't think this is going to affect their business? SW will be fine, this isn't doom and gloom, but I do anticipate a revised earnings estimate during their call next month and a delay in their project.
  5. Who said they were writing them off? I just said the short term doesn't really matter when it came to having their guidance confirmed, it was so late in the quarter they knew any dip in sales wouldn't be enough to offset any gains they made in January, February and early March. So like I said, you're going to see adjusted earnings for the year, you can almost bet on that. Sherwin Williams is a major international business and if you don't think this has affected them on the global market (China, Italy, UK all major countries they do business in) then idk what to tell you. As far as breaking ground in a few years, if i"m not mistaken, some people were saying some work would start on the lots this summer with the major ground breaking early next year? And when I say delay, I'm not talking about 3-5 years, but I would venture to guess that you could see a delay that sees a late 2021 early 2022 groundbreaking.
  6. I know SW confirmed it's guidance in regards to Q1, but don't be surprised if they lower their estimated earnings for Q2, Q3 and the year. COVID-19 didn't really start to disrupt any business until late March when many states put a "Stay Home" policy in place. SW closed their sales floor last week as well, only were taking orders through phone, e-mail, and online. Depending how bad their international sales took a hit in the last 2-3 months, we will find out during the earnings call next month, I wouldn't be surprised if you see a delay in the new HQ and R&D facility breaking ground.
  7. I used to live in KC back in 2014-15 and they have the "Power and Light's District" that has a bunch of bars, restaurants, shops and also has an outdoor venue similar to this and that thing was always busy when I lived there. They were constantly hosting concerts, events, bar crawls, etc. I don't think you need to have a successful sports franchise to have an outdoor gathering place like this to succeed. I know it's not exactly the same since the Royals/Chiefs don't play anywhere near downtown in KC but there is plenty to do in a venue like this besides watch a baseball or football team in the bar or on the projection screen under the roof. https://www.powerandlightdistrict.com/
  8. Yeah I thought Progressive Field was pretty small as far as capacity is concerned, after they took out the seats in RF and put the shipping containers in the upper deck but couldn't recall. But I can see his thought about making it more intimate. If you are in the upper deck at the stadium, it feels like you're miles from the field. So I can see how that could be a plus. I just brought them up as a possible move/new stadium because the lease issue and it's also being well reported that the Dolans are looking to sell. So new owner means new stadium/relocation. But anyways to get back to the Browns, if my friend is right about the "guts" being a disaster, that could be why when the Haslams' looked at putting a retractable roof on the stadium a few years ago it wasn't feasible. The cost to put a roof on that stadium, maybe the stadium couldn't take the stress levels without some sort of major reinforcement put in place which would probably be very expensive. This is all speculation on my part, obviously. If a stadium is built on the lake again, the city/Browns/county need to make it more accessible to get in/out. I'm a season ticket holder and it's ridiculous getting in/out of that place early in the season/primetime games when the hype was high for the team.
  9. Not sure what topic thread this should be under but I figured this was the closest to what was discussed this morning. On my way into work this AM I was listening to 92.3 the fan and they had David Gilbert in studio, who is the President of the Greater Cleveland Sports Commission. They got on the topic of both the Cleveland Browns and Indians having stadium issues coming up, as far as leases expiring. Essentially David said that Cleveland needs to start planning now instead of waiting until the last minute to try and pass a new tax to pay for the stadium(s). Which I completely agree with, Cleveland needs to do everything they can to keep the Browns/Indians in Cleveland. However, after the segment was over Daryl Ruiter (beat writer for Cleveland Browns) gave his "plan" on what he would do and I wanted to give the 10,000 foot view of his plan and get peoples' thoughts, opinions and see if this is even viable because I thought it made sense at a high level. Anyways, the Indians lease is up at the end of 2023, he mentioned that the current stadium is too big and has too many suites to support the local team (which I 100% agree). He said they should build a smaller more intimate stadium (32,000 - 35,000 seats and 60ish suites), similar to PNC Park in Pittsburgh. I think that PNC Park is probably one of the nicest parks in all of baseball. Location, he mention possibly building where the current Wolstein Center is right now. Not sure if that is viable location (that's why I'm putting this out there). Anyways, if that was a possibility, he mentioned that Cleveland Browns stadium can be built on the old Progressive Field lot. Again, sounds good on the surface, not sure how viable it is or if people would even want this. Either way, Browns Stadium needs to be moved off the lake. When (If) the Browns ever put a winning football team on the field again, that current stadium is a mess to get in/out of. With only two entrances, due to the lake, trying to get 65,000 people in/out of a stadium is a complete disaster. Also, with it being an open air stadium, it's essentially wasted real estate except for 10-12 events a year. Total waste. Finally, I'm not sure how reliable/true this is, but friend of mine told me that he worked on the stadium during the renovations, Cleveland was in a such of rush to rebuild a stadium that they essentially used the cheapest of the cheap materials to build the place. He said when the renovations were being done the "guts" of the stadium are a disaster and a new stadium would need to be built sooner rather than later. Again, not sure how true this is, but I took it at face value for someone that worked in the stadium. Just wanted to get people's thoughts, reactions, or if we have anyone out there that can chime into how viable a plan this would be. It will definitely be an interesting 3-10 years for Cleveland sports.
  10. You think they break ground with R&D or HQ first? At first thought, you would think R&D since that would probably go up faster than a downtown site but the current HQ is already limited on office space and you might think they would want to get the HQ done first to get everyone relocated into a bigger building(s) more quickly.
  11. Well it's official, we just got the e-mail from the CEO. HQ on Public Square, R&D in Brecksville. Interesting enough, it specifically stated they have no plans on relocating any facilities/office besides Landmark, Skylight, Breen, and Warrensville. I'd imagine that is mostly lip service for the Valspar people in Minnesota, Chicago and Sewickley but I find it interesting they didn't mention the Hinckley office for SW employees. Anyways, HQ is said to be approximately 1 million sq feet and R&D will approximately 500,000 sq feet
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