The Elliott letter clearly points out downfalls and has valid points. According to the WSJ, they have until Jan to decide. If the current leadership doesn't right the ship, odds are this will occur and it will be nasty.
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Welcome the new boss, same as the old. In the end, expense reduction and stock buybacks is all they have. I will say this though, I’ve enjoyed the increase in my 401k since the Elliot letter. I also couldn’t agree more with what was said in the letter. I see a large exit sign saying 1 more mile to my exit. I’m done playing the Corp game. If layoffs come, I’ll be the first to sign up. Make them pay me on my way out.
A proxy fight will be paid for the same way the mergers have been; by employees and customers. It will divert attention from managing and growing the business as one group of sociopaths fight to keep their power and the other fights to take it.
And Stankey doesn't care about the money. He already has got generational wealth. He values power and control more than money. Money is just a scorecard. That's one of the differences between sociopaths and normal people.
Won't be much of a fight since Goldman-Sachs owns majority of shares.
Stankey must be losing his s__t this week. So close to his massive payday, then to have these people possibly pulling the rug out from under him. Poor guy....
I hope the pressure put on by the Elliott group causes good change but if they get their way we can expect a focus on profitability which means expense reductions and we are a expense to them