Friday, August 26, 2011

Short Fleetcor (FLT)...

A former employee told me that this one is a great short.  Fleetcor (FLT).  They are the ones who sell the Fuelman contracts to companies looking for a discount on gasoline purchases for their fleet of cars and trucks.  Apparently management is shaky.  Here is an SEC filing from August 15:

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On August 12, 2011, Van Huff gave notice of his resignation, effective September 2, 2011, from his position as Chief Information Officer of FleetCor Technologies, Inc. (the "Company"). Mr. Huff resigned in order to pursue personal interests. After his departure, Mr. Huff has indicated that he will remain available to consult with the Company in connection with the transition of his responsibilities.

Here is the chart:



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