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Madison Air Must Have Inhaled

A new high bar has been set for IPO roadshow horse shit.

Sometimes the air gets thin when you're up on that soap box.

First let me say that there's absolutely nothing wrong with being an HVAC roll-up but this company wanted to tell a very different story.

We all understand the need for hype but this one is a doozy. At first I thought maybe Madison Air $MAIR was indeed some new and special kind of company, not the HVAC roll-up that it actually is.

If you listen to management you might think they have invented clean air. They also discovered the fan. Don't believe me? Here is how they describe "our warehouse was hella hot in the summer so we bought some fans."

There's a brand that called us because they were struggling in the summer months. They were losing employees and struggling with low productivity because the warehouse temperatures were up to ninety five degrees. We came on site, met with the customer, walked the facility, and created a custom airflow model for them with our proprietary Spec Lab software and installed air movement solutions throughout the facility. They reported back to us that employee retention stabilized immediately. They ultimately saw a fifteen percent increase in productivity and thirty percent lower energy bills, which meant they more than paid for the fans in less than a year. That's return on air for us, quantifiably impacting our customers' business and making their operations better.

The whole presentation is laced with this kind of crap including how they "view air as a strategic asset" and they redefine the conventional Return on Assets to "Return on Air."

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