We know for a fact that Elliot is planning on downsizing and outsourcing to 3rd party. It states just that, clear as day in the letter. Kind of funny how Elliot only criticizes T for its failures and with that same key stroke boasts a “T doesn’t deserve this money, we d... the STAKEHOLDERS do!!!!” mentality. Money are power are the core of what’s wrong here, and our government is about to watch a great company dive into the dirt, potentially losing generous tax revenue from this giant company. This is disgusting.. all these 1% rich companies and executives have it MADE. Their lives couldn’t be more care free in regards to finances.. what about my family? My kids? My livelihood. If Elliot fails the execs will take a private jet home eating lobster. If Elliot wins, I may lose my house faster than Randell would have been able to take it. No, I’m not saying I’m just going to bend over and not do anything about it. I’m a hard worker and will make it work for myself and my family at all costs. But it’s 2019. Never in my life did I think I was going to be out of work and have to find a new job at my age. I’m being forced to START OVER. I have a valuable skill set, I didn’t “fail to adapt”. I’ll find work. But why should myself and the other average joes and sues have to suffer for this. Let’s stop being ignorant and call a spade a spade. You guys remember the whole “2020” talk that was mysteriously scary, never fully explained, and always led to low level managers and frontlines demise?? Welcome to the party. This is calculated. Both, T Executives and Elliot are terrible for this company and the hard working AMERICANS that run it. Elliot may be more effective at growing this business in a more “laser focused” direction.. but to do so, Elliot will equally be more volatile to the frontline, lvl 1-3 managers, AND entire facets of this organization. We need to do something. We need to ACT.
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Elliot Management, owned by Paul Singer (the guy originally behind the funding of the Steele Dossier, before the Democrats took over funding it), now owns just 1.2% stake in AT&T.
Their clout will be in having a certain percentage of the rest of the voting shareholders (mostly with at least that size stake) forming a coalition.
Singer (aka "Elliot") isn't going to take your house sooner than Randall would, given that you see yourself as nearly out the door already.
Elliot's letter noted that AT&T could do better by emulating Verizon. Where there is a vulture capitalist tendency to split up companies to sell off the parts, the parts they see as discardable seem to be on the Warnermedia side of the house, with at least some acknowledgement that the wireless side of the house could use some sprucing up.
Hopefully, that will mean folks who want another job here will be able to find one, and that the bloodletting on our side of the house will be over soon.
Something to remember.
$3B might buy you a lot of influence in many companies.
Not so much in a company that made $170B in revenue last year.
Elliot and the gang might throw a temper tantrum, but I don't really suspect much is going to change overall.
This is a fight concerning Stanky and The Rat's future at this company. The employees are screwed either way. I really can't root for either side. The enemy of my enemy is still a greedy POS.
You know that "Elliott" is not some dude that can come in and affect radical change by himself....don't you?
"You had a little typo there buddy. Ronald McDonald. Soon to be new employer of all these frontline employees and managers who forgot to get their degrees! "
Those degrees are not worth anything if they outsource everything.
Technology changed. It's not all as simple as you suggest. AT&T didn't invent outsourcing. The company is making record profits and stock is at it's 52 week high. AT&T also didn't create the tax cuts that everyone gets. Maybe you don't like their investment decisions but it's not your company to control. You also aren't guaranteed a job for life and I'm guessing you aren't good friends with Elliot, so not sure why you think that's how it should go. And if you are so concerned about job volatility, maybe you should have taken your action when we started doing free trade with slave countries. Not much use showing up 20-30 years later and complaining about your house after the fact. But it was all fine long as the money kept rolling in unabated for years. Maybe you have more in common with Elliot than you think. The only difference is Elliot is higher on the food chain.
EASIER TO READ:
We know for a fact that Elliot is planning on downsizing and outsourcing to 3rd party.
It states just that, clear as day in the letter.
Kind of funny how Elliot only criticizes T for its failures and with that same key stroke boasts a “T doesn’t deserve this money, we d...
the STAKEHOLDERS do!!!!” mentality.
Money are power are the core of what’s wrong here, and our government is about to watch a great company dive into the dirt, potentially losing generous tax revenue from this giant company.
This is disgusting..
all these 1% rich companies and executives have it MADE.
Their lives couldn’t be more care free in regards to finances..
what about my family? My kids? My livelihood.
If Elliot fails the execs will take a private jet home eating lobster.
If Elliot wins, I may lose my house faster than Randell would have been able to take it.
No, I’m not saying I’m just going to bend over and not do anything about it.
I’m a hard worker and will make it work for myself and my family at all costs.
But it’s 2019.
Never in my life did I think I was going to be out of work and have to find a new job at my age.
I’m being forced to START OVER.
I have a valuable skill set, I didn’t “fail to adapt”.
I’ll find work.
But why should myself and the other average joes and sues have to suffer for this.
Let’s stop being ignorant and call a spade a spade.
You guys remember the whole “2020” talk that was mysteriously scary, never fully explained, and always led to low level managers and frontlines demise?? Welcome to the party.
This is calculated.
Both, T Executives and Elliot are terrible for this company and the hard working AMERICANS that run it.
Elliot may be more effective at growing this business in a more “laser focused” direction..
but to do so, Elliot will equally be more volatile to the frontline, lvl 1-3 managers, AND entire facets of this organization.
We need to do something.
We need to ACT.
Amen
McDonald*
You had a little typo there buddy. Ronald McDonald. Soon to be new employer of all these frontline employees and managers who forgot to get their degrees!
As facetious as the two sentences I just typed are, one truth remains. Employees at McDonalds have more job security (and potentially more competitive health insurance) than a T employee.
Mc Rotten, is that you?