Dow Jones reports that U.S. Foodservice CEO James Miller has told a convention of vendors, customers and top salespeople in Las Vegas that the company’s outlook is “very bright,” and that "in the last month alone we have signed contracts worth hundreds of millions of dollars" and have "some very exciting things in the pipeline that we hope to announce very soon."
Miller continued his standard line of blaming “a few trusted employees working outside our accepted accounting procedures" for the companies troubles -- which generally are described as consisting of $500 million in overstated profits that has helped create an accounting scandal for US Foodservice and its parent company, Ahold.
Miller continued his standard line of blaming “a few trusted employees working outside our accepted accounting procedures" for the companies troubles -- which generally are described as consisting of $500 million in overstated profits that has helped create an accounting scandal for US Foodservice and its parent company, Ahold.
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Las Vegas seems like the right venue for such a speech, since Miller seems to keep rolling the dice that he’s going to be able to avoid being tarred for his company’s problems.
Miller certainly seems to placing his bets in a big way. The Washington Post reports this morning said that he has shuffled his managers in a way that will solidify his control of the company.
This is, of course, the same guy who said that his company had nothing to do with the forced resignations of Ahold’s CEO and CFO -- a statement that the company’s board quickly distanced itself from.
