There has been an article on Ten Companies Controlling the Funeral Industry. What is interesting in the article are the Newcomers Wall Mart and Amazon .com These companies have only entered the funeral industry in the last several of years. This is an indication of traditional Funeral industry decline and the desire of folks to pay less in funeral cost.
Here is a summary of the funeral business from the Article
The death industry is a tale of two economies. A relatively few large companies, most of them publicly traded, control most of the businesses that sells caskets and granite for memorials. The rest of the death industry is made up of many modest businesses. Most of the 19,500 funeral homes in the country are small operations, often owned by the same families for generations. There are more than 120,000 cemeteries and many of these belong to families, nonprofits, and religious institutions.
Here is al ist of the ten companies in the report.
Service Corporation International (SCI)
Carriage Services Inc (CSV)
1-800 Flowers.com (FLWS)
Rock of Ages Corp(ROAC)
Stone Mor Partners(Ston Mor)
Funeral Industry| Funeral News| Funeral Blog by Your Funeral Guy
Here are the top ten Service Corporation International SCI, -NYSE:SCI posts of 2010. Service Corporation International.
Service corporation International is known for Funeral Scandal. All these posts are not scandal related, many though include scandal. There are more stories at Your Funeral Guy blogs on Service Corporation International.
Top Ten Service Corporation Articles of 2010 By Your Funeral Guy
- There has been “evidence tampering” reporting in the SCI -Eden Memorial Park(up to 500 graves disturbed) – Service Corporation International NYSE:SCI Lawsuit – World Largest Funeral Corporation Eden Memorial Park Scandal Evidence Tampering
- Service corporation International is suing anotherFuneral home(s) over the name.-SCI sues over Funeral Home Name
- In Chicago a discount and High end Funeral Home are fighting over a name with Service Corporation International Suing-Chicago Area Funeral home name Lawsuit
- Worlds Largest Funeral Corporation turns to Tempoary Workers– This is not a good sign
- In 2o1o as in 2009 Service Corporation International had a Wrong body Wrong Grave Scandal
- Service Corporation International had a flag flying over a grave scandal in Skokie Illinois outside of Chicago
- Worlds Largest Funeral Corporation averted a strike with the Teamsters, Funeral Directors had to give up concessions
- Service Corporation International sweeps away Baby’s Momentos, More of this was reported in 2009.
- The World’s Largest Funeral Corporation produces shocking, weird NYSE: SCI radio ad.
- SCI Employee comments in 2010 on what its like to work at the World largest Funeral Corporation. We also Covered This in 2009 with info from a different employee.
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Remember using an SCI Funeral Home facility will not usually save on Funeral Cost
Breaking News-Service Corporation International, the Worlds Largest Funeral Corp announced today it is turning to temporary workers to an outsourcing the deal . Does this mean it will be turning it’s full time employees into temporary workers? Will the new hires only be independent contractors.
Funeral Directors. be warned! It is my experience that the employees are the last to know when Independent Contractors are involved. NYSE:SCI is making a move to independent contractors. Here come the temps!
Service Corporation International (SCI), North America’s largest single provider of funeral, cremation and cemetery services, recently hired Guidant Group, a managed services and talent acquisition company, to manage its North American contingent labor program.
With more than 22,000 employees, 2,000 locations and 400 cemeteries throughout the United States and Canada, SCI employs thousands of contingent workers each year. With such a large temporary workforce, SCI recognized that creating an enterprise contingent labor management plan would help the company increase productivity and efficiency……..
The SCI contingent management program included managing 1099s, temporaries and independent contractors, and larger statement-of-work contracts (SOWs).
“SCI recognized that creating an enterprise contingent labor management plan would help the company increase productivity and efficiency……..”
This more than likely means replacing workers with Temps!=Your Funeral Guy’s opinion.
Now a press release is a hell of away to tell a work group may becoming temporary workers! One should expect No Less That This from NYSE:SCI.
The sad thing is that this can only mean poorer service for the Funeral Consumer.
Funeral Industry|Funeral News| Funeral Blog By Your Funeral Guy
Service Corporation International Logo
The World’s Largest Funeral Corporation Has been Given Final Approval for Purchase of the Fifth largest Funeral Group in North America by the FTC. The deal will go through only after a 30-day Public comment period at the Federal Trade commission.
Service Corporation International (NYSE:SCI) has turned to it’s 1990’s acquisition strategy to increase it’s bottom line . With current unrealized preneed losses of 43.8 Million dollars. The Funeral Industry Giant has decided to take on acquisitions to offset the recent history of Declining Revenue.
On one Level the whole deal, and I say this kindly, is quite corrupt. Financial Partners LLC, the company picking up the SCI divested properties is a newly formed company of Former Keystone Executives. They are the ones who benefited financially from the purchase, and through the new company same folks are picking up their same properties. The good old boy leading this circus is Jim Price.
Following a public comment period, the Federal Trade Commission has approved a final settlement order in the matter concerning Service Corporation International and Keystone North America, Inc. The final order settles charges that SCI’s acquisition of Keystone would have reduced competition in 16 funeral service and three cemetery markets in the United States, and requires that SCI divest properties in each market.
Pursuant to the settlement order, SCI is seeking FTC approval to sell a total of 23 funeral homes, cemeteries, and combination properties to resolve the FTC’s competition concerns raised by its acquisition of Keystone. The FTC is seeking public comment on SCI’s application
Under SCI’s request, the company would sell the 23 properties to Foundation Partners Group, LLC. The facilities are located in Arizona, California, Colorado, Georgia, Florida, Louisiana, Michigan, North Carolina, New York, South Carolina, Tennessee, Virginia, and Washington State. A
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Service Corporation International (the world’s largest funeral corporation) recently purchased the #5 Funeral Corporation . In an effort to maintain control of property required to be divested(sold as part of the deal and required by the FTC.) several Keystone execs(#5) will maintain control of the businesses sold.
Several Keystone Executives have formed a company and purchased the property. This shows the extent corporate leaders in the Funeral Industry go to maintain, control of your funeral dollar.
Snippet from the Memorial Business Journal-
It seems that the funeral home/cemetery acquisiton market has a new player. What was speculated for months is moving closer to fruition as three former top executives at Keystone North America have formed a new company and are moving forward with the acquisition of the properties the Federal Trade Commission last month ordered divested by Service Corporation International in order to complete the company’s acquisition of Keystone.
The company, Foundation Partners Group, will be headed by Steve Shaffer, who is president and chief executive officer. Shaffer was previously chief financial officer at Keystone. Jim Price, who co-founded Keystone in 1996 and was the company’s chief operating officer, is Foundation Partner’s executive vice president and chief operating officer; and Chris Thomley, who has served as Keystone’s chief accounting officer since 2005, becomes chief financial officer.
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Again A Major Funeral Corporation’s Numbers Point To Funeral Industry Decline, and the rise of cremation and lower cost funerals.
If you dig deep into Matthews International NYSE:MATW)Numbers you find More Funeral Industry decline. Matthews is honest in reporting their numbers and has a long history of doing business outside the funeral industry. Hillenbrand Inc, has recently sent almost half a billion dollars in it’s purchase of K-Tron, a non funeral business. Hillenbrand is the parent Company of Batesville Casket Co which is the largest casket company in North America.
Profit did rise significantly but this was due to asset acquisition and other adjustments and readily admitted by the CEO. Not real growth, The honesty on the part of Matthews International is greatly appreciated. It is a contrast to that of Service Corporation International, Stewart Enterprises Inc, and Batesville Casket Co.
For the fiscal 2010 second quarter, reported sales for each of our Memorialization segments were higher than a year ago. For the Bronze and Casket segments, acquisitions were the primary factor in the improvement. Excluding acquisitions, sales for both of these businesses declined, reflecting a lower casketed death rate. Based on available data, U.S. death rates were estimated to have declined approximately 4% compared to the same quarter a year ago, with the casketed death rate (non-cremation) estimated to have declined over 6%. Second quarter sales for the Cremation segment increased over the prior year primarily as a result of growth in European equipment sales.
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Matthews International Corp. saw profit jump 25 percent in the second quarter over the same period a year ago beating Wall Street expectations…….
Sales in the quarter were also up slightly by 1.8 percent to $200.9 million, due primarily to acquisitions and a favorable currency exchange, the company said in a statement.