https://www.bloomberg.com/opinion/articles/2021-12-03/industrial-strength-3m-is-adrift-and-there-s-no-easy-solution-kwqs6fq3?sref=jJ5dcbrU
A few highlights:
The stock is one of the worst performers in the industrial sector. It’s time for a new strategy.
A potentially mammoth liability tied to 3M’s legacy manufacturing of per- and polyfluoroalkyl substances (PFAS)
Earnings disappointments have become a pattern.
Despite investing barrels of money into capital expenditures and research and development, 3M’s revenue growth is fairly average over the longer term
3M increasingly comes across as overly bureaucratic and out of step with better-run peers