Tag Archives: funeral business

NYSE(HI) Batesville Assembly Plant of theYear 09 |but where was the Casket Revenue?-YourFuneralGuy

10 Jan

3d image of a casket (NYSE:HI)In 2009 Recently Batesville Casket Received  A state of the Art Assembly Plant Award. But what is the use if people are not Buying Caskets?

Snippet from the Business Courier of Cincininati.

For fiscal 2009, Hillenbrand posted net income of $102.3 million, or $1.66 per share, versus $93.2 million, or $1.49 per share in fiscal 2008. Revenues declined to $649.1 million from $678.1 million.

The need for Batesville caskets is down due to a rise in cremation, and the economy

BATESVILLE CASKET COMPANY MAY HAVE STATE OF THE ART ASSEMBLY PLANTS BUT THEY ARE OF NO USE WHEN THEY ARE NOT SELLING ENOUGH CASKETS TO STOP DECLINING REVENUE Where are the casket sales?

To put it more simply there is a lack of money, Revenue from Casket sales..

For the first 9 months of 2009 (Fiscal year) there was  a huge loss. In the First (3Qs {of (fiscal)2009} Revenues dropped to $496 million from $519.3 million.

Smoke screening their Revenue Loss with assembly plant awards,press releases while secretly entering the burial vault industry -Purchase of  Goria Burial Vault(s)- continues to shows the Company’s lack of transparency, if not desperation. It is a bad day for the Funeral Industry when the world’s leading casket maker has to go outside the casket sale, purchasing and selling vaults,to  stop revenue decline.

The great funeral industry earthquake comes closer and closer every day. In fact I would say the sky has fallen on the Funeral Business.

CHICAGO, IL–(Marketwire – September 30, 2009) – ASSEMBLY magazine, a trade publication for manufacturers, and The Boston Consulting Group (BCG), one of the world’s leading management consulting firms, today named Batesville Casket Company the 2009 winner of their “Assembly Plant of the Year” award. The award spotlights a state-of-the-art manufacturing facility in the United States that has applied world-class processes to reduce production costs, increase productivity, shorten time to market, and improve product quality.

via www.marketwire.com

Funeral industry| Funeral News| Funeral Blog by Your Funeral Guy

If you purchase a high end Batesville casket you will not come in under the average cost of a funeral.

photo 3D rendering of a caket from istock photo-Not a Batesville Casket.

Wall Street Bundling Life Insurance to hurt Funeral Industry-YourFuneralGuy

7 Sep
The sale of life insurance policies will hurt the funeral industry

The sale of life insurance policies will hurt the funeral industry

Because of the severity of the recession banks have been buying up life insurance policies. Some of the big banks are bundling them together just as they did debt before the Wall Street Crash a year ago. These  Wallstreet banks are selling them as bonds.

This is a risky investment scheme. This will hurt the funeral industry because in the majority of cases life insurance is the vehicle that folks pay for a funeral.

This is another bad sign for the traditional funeral industry in the USA.

From the New York Times:

The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person. Then they plan to “securitize” these policies, in Wall Street jargon, by packaging hundreds or thousands together into bonds. They will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.

The earlier the policyholder dies, the bigger the return — though if people live longer than expected, investors could get poor returns or even lose money.”

This  will mean lost income for the Funeral Business.

Funeral industry|Funeral Blog by Your Funeral Guy.

The Funeral Industry takes another hit

The Funeral Industry takes another hit

Batesville Revenue points to Funeral industry Decline-YourFuneralGuy

12 May
Batesville Casket Had a 22% decline in revenue, a bad sign for the funeral business.

Batesville Casket Had a 17.1% decline in net income, a bad sign for the funeral business.

The largest casket maker in the United States has posted a 17.1% decline in net income in their 2nd Quarter of 2009. This is another indication of  more decline in the funeral business. (Numbers here do not include litigation costs and spin off adjustments)

Hillenbrand Inc- Batesville Casket Co.

“Kenneth Camp, president and chief executive officer of Hillenbrand, Inc said, “The funeral services industry has experienced a decline in burials that is largely consistent with a mild influenza and pneumonia season, combined with an increase in cremations that may be more pronounced in the current economic environment. There also has been more intense competition in both the casket and cremation businesses.-(rttnews.com)


Excluding costs, net income was $28.6 million, down 17.1% from $34.5 million in the prior yearquarter.-(rttnews.com)

Batesville casket  did post a profit due to the reduction of operations-but operations cannot be reduced forever. A 17.1 decline in net income paints a steep decline in the casket end of the US  funeral industry. Not only was  there more cremation and  less burial , there was a significant  threat to the US funeral industry in the rise of high quality Chinese Casket imports.

That is  part of the rise in more intense competition.

Funeral Industry|Funeral Blog by Your Funeral Guy.

Source(rttnews.com)

post updated at 12:54 Am on May13th 2009 due to inaccurate info fron 1st source.( revenue decline was 10.8% not 22%)

Forbes:Economy hurting the Funeral Business in USA-yourfuneralguy

25 Mar
Funeral Industry Downturn has folks negotiating Lower Cost Funerals

Funeral Industry Downturn has folks negotiating Lower Cost Funerals

The economy has brought a downturn in the Funeral Industry across the United States. This is covered in the media almost daily. The average cost of a funeral is has headed  towards a bottom, just like the economy.

This trend is good for the consumer, but not for the funeral director. The Financial Magazine Forbes did an article on this. It is the first I have seen in that publication. The Funeral Industry is not “Recession proof” as was stated by the media when the effects of the recession became acute last fall.

Forbes quoted Funeral Director Peter Mahoney of  Mahoney Funeral Homes in New York:

“Given the economy today and the way people are watching their dollars and cents, people are more

Funeral Consumers watching dollars and cents

Funeral Consumers watching dollars and cents

price conscious,” says Maloney. “Funeral services are not a luxury service.

In fact funeral services are a must have service just like groceries. Just like groceries if you shop around you often can find the same item for lower cost. The same is true for Funerals.

The Funeral Industry needs to stand up and take notice of the trend to a lower cost funeral. Consumers are brushing up on their negotiating skills and bringing down the average cost of a funeral.

Funeral Industry|Funeral cost blog by Your Funeral Guy.

Pics from Istock photo

Source  Forbes article at forbes.com titled:

“Recession-Friendly Rites by
Lauren Streib,
posted 03.24.09, 06:55 PM EDT,
The economy takes its toll on the funeral business”

Your Funeral Guy: Is God on the Side of Funeral Cost? Whose cost?

10 May

It should be more than obvious that God is on the side of Family Funeral Cost.

To say that God is on the side of a Funeral Directors or the funeral industry is quite a stretch. It seems to be implied by many a funeral director. God is on the side of reducing funeral cost. To decided to reduce funeral cost is the basics of Funeral Planning 101. A low cost funeral and saving money for life is always best.

Yes many are honest and truly have the family interest at heart. I became a Funeral Director because I wanted to help families. Indeed the lights need to be paid and the books need to be balanced. However there are recent scandals often unreported by the press and blogs. In Illinois the IFDA, or the Illinois Funeral Directors Association lost 40 million dollars of the IFDA Preneed Trust fund. The IFDA’s license to manage the trust money was removed by the Comptroller of the State of Illinois. This was reported only in one statewide newspaper.

Nationally, NPS or National Prearranged Services, shut down this year because someome ran off with the folks money. A large amount of money. This was a large scale scandal that happened. Families need to be aware of these scams. Prearranged Services are suppose to save folks money, not cost.

Inspite of this Congress on April 29th Initiated after little debate the National Funeral Directors and Morticians Recognition day Day. Many times individual funeral Directors have run off with preneed funds. On April 29th 2008 The recognition day was passed by the House of Representatives with a voice vote.. Congress and the media have not investigated Funeral Director’s inability to keep themselves honest.

The public is not forewarned about dishonest folk in the funeral business. They are in many funeral homes. All Funeral homes are not honest as one may think.

The NFDA, National Funeral Directors Association, by it’s own admission is quite hypocritical on the Funeral Rule. In it’s May 2007 Issue, it admitted that it publicly supported the funeral rule in it’s magazine and at the same time worked against the funeral rule in Congress.

No God is not on the funeral director’s side but on the family’s side. And many families are quite capable of handling the details of a funeral that the funeral director does. Yes families need to pay funeral directors on some of the details of a funeral but they also have the right to handle many of the details of a funeral themselves when they are strong enough and willing to do so! An honest funeral director will keep the families interest first, often the line is blurred and this does not just happen. I have done funerals where nobody came. They deserve the same service as those where thousands showed up. I am not attacking any personal or funeral home’s goodness. The families need to be aware of funeral folks who are not good so they can save on funeral cost.

R.Brian Burkhardt. Your Funeral Guy, Funeral Director State of Illinois, Author, Blogger, Funeral Advocate.

More helpful information can be found on funeral cost here:

Insider's Tips to the Low Cost Less Stress Funeral

Rest in Peace: Insider’s Tips to the Low Cost Less Stress Funeral by R Brian Burkhardt and Matt Bacak