Apparently At&t employees and retirees , when counted as a single entity , are one of the largest shareholders of T. So if that’s true , let’s act as one. If enough of us vote no confidence in CEO and Stankey , we may actually be able to help show them the door. I’m going to write my own letter as a shareholder. If we all wrote open letters , who knows. Maybe it’ll have an influence on the board. Maybe att employees can have their own “me too” moment lmao
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The OP has suggested that, when it comes to putting our voting power to good use that we “act as one.” Or has suggested we have the votes to forge ahead and vote out the Boys Club....we neither have the votes and rarely act as one.
The Mutual & Hedge Funds carry the institutional voting power....always have, Google it, you’ll find out for yourself. And now I ask the employees that have T stock....every year you get an envelope to vote your shares....Do most of you ever even open them? They go opened, right? I rest my case.
Perhaps but AT&T employees hold enough share to matter or to make a statement so this post is right on...buck up folks and heed what is being said here.....
Elliot Management are vulture capitalists. They make money by looting struggling, mismanaged companies. These guys are even bigger scumbags than Randy and Stanky.
As neither side serves my best interests in any way, I will continue to build my savings and look for a better career path than this place. I have no reason to give a d@mn which side wins.
@hsw:
I agree the workforce isn't necessarily "safe" should Elliot Management gets it's way, but we already know how we fare w/ the current Management Team. The only way things will eventually get better is w/ better Management. I think a Management shake-up is a step in the right direction (although I agree it may be painful for the workforce in the short-term).
Singers Elliott Management play is impressive to some, $3b carries 1.2% of all outstanding shares/votes. His job is to make $$ for HIS shareholders and though he professes a brave new world for the T (with “activist” ideas) I am forced to believe his only real concern is to the EM shareholders. Do a bit of Google and his reputation will speak volumes!
Compared to the top five institutional mutual funds, that carry 40% of T’s stock shares, Elliott Management is a small player.....for now. And understand that I’m not a fan of Randy and the circle he keeps around him, but Singer is not a friend to the employees, whose companies he invests in.
He makes his money by cutting expenses, from the ground up. Consolidates, economizes, takes out loans against said companies (to pay down other debts) and eventually sells off that company in pieces.....it’s what he does!
He may very well increase the share price of T exactly as he says he will, but at a price....and we’re the price!
Not sure where you get your numbers, but I don't think employees and retiree's have that much stock anymore. Most of us have sold out, since price is down over 12% the last couple years. Institutional investors hold biggest majority, and the big ones support what's happening today.
I find it highly ironic that the current Management Team now find themselves in the situation where they need the support of their workforce who they have treated like dirt. Karma.
I said this over a year ago. To the commenter below. Institutional investors are not a single entity.
Employee vote, combined with Elliot vote = Bye Bye Randy.
Sorry, but not true my friend. Institutional Investors (mostly mutual or hedge funds) carry 54.80% of the voting power, as of 9/10/19.
As we have read, in recent posts, it’s difficult to have the CWA’s vote in lockstep with each other....individual investors, on their own....not a chance.