Peru RPCV Fred Poses at American Standard defines good corporate governance
Two Great Companies I Never Get to Own
By James J. Cramer
RealMoney Columnist
01/23/2004 10:51 AM EST
American Standard and Fortune Brands are the best situations I've never owned.
It's too late to buy Fortune Brands.
But American Standard reports Monday.
There they go again. I am talking about Fortune Brands (FO:NYSE - commentary - research), which just reported a monumentally good quarter, and American Standard (ASD:NYSE - commentary - research), which is crashing through to new highs.
These two staid, boring stocks, two companies totally committed to making money for shareholders, have just been among the best situations I have never owned.
I say "never owned" because at least a half-dozen times in the last two years, I had them on my list buy and decided, nope, has to come in more, gotta come in more, will definitely come in more -- and they simply won't!
Both companies have simple, serious managements: Fred Poses at American Standard and Norm Wesley at Fortune Brands define good corporate governance.
Both companies have simple business models: Make the best possible goods at the lowest prices.
Toilets and air conditioners define American Standard. Cabinets, locks, office supplies, liquor and golf goodies define Fortune Brands. They are quintessential American companies and they both are firing on all cylinders.
It's too late to buy Fortune Brands.
American Standard reports Monday morning.
Go to work.
