Dear Mike and Monish,
You have been marvelous (queue in Billy Crystal). Hopefully you have not let people on this website bring you down and listen to their negativity and incessant whining.
You've done what very few leaders could have done under circumstances outside your control like to bogus earplugs lawsuits and the even more childish rants about a totally harmless Teflon chemical.
Keep up the great work so I can enjoy those stock options in my newly promoted role.
3M what great leadership.
Do not be fooled by the fugacious bump in the 3M stock price ($132.98):
PFAS settlements continue; new lawsuits received this week.
Earplug settlement talks are ongoing; however, trials will resume in early 2023 if no agreement is reached. The lawsuits are NOT a class action, thus each litigant will have to decide which route to take. In any event the $1 billion put up by 3M is “grossly insufficient” to settle over 253,000 cases.
A large sell-off from significant shareholders within the 3M hierarchy is expected in January 2023.
Consumer demand for 3M products is at a historical low.
More layoffs are in progress.
Roman and his consigliere Patolawala have virtually zero street credibility.
Bottom line: Denials, happy talk, chair shuffling, part of our plan statements, new carpet and fresh paint will NOT disguise the ongoing failures by 3M senior “management.”
Still have a long way to go.
Share price has been halved since 4 years ago
However you look at the big picture, 3M leadership has aced the last 3 months.
This individual has been posting the same garbage for the last several months. Moderators have taken down many of the comments and all he’s doing is trolling so that people will respond. Just ignore him the post to move down the list and the liar will fade away.
I agree with Post ID: @OP+1jFPt8Eg!
Under Mike Roman's leadership, 3M should wage a twenty-year battle with the Environmental Protection Agency and Minnesota State over PFAS that the company dumped into the water system.
He must dispute scientists who classified PFAS as forever chemicals that can cause negative health consequences. The chemicals contaminated the aquifer beneath the plant to the point that the water was unusable for human consumption without treatment. Minnesota State's Department of Environmental Consumption also advised people against eating fish from the river near the sites.
He should go on to call the Obama administration's prioritization of addressing climate change "radical behavior".
He could demonstrate PFAS harmlessness by soaking in a tub of PFAS to support his position.
He would come across as a more Jack Welsh like, which is a good thing!
Dear @OP+1jFPt8Eg
I hope you were being sarcastic because your post had so many things absolutely wrong and completely insensitive. WTF
If you don’t like this website, you don’t have to read it. With so much chaos in 3M right now, people need a place to talk to others who understand and so we don’t feel alone.
You are obviously not scientific if you think the lawsuits are bogus and the chemicals are benign. 3M capped wells at their own expense just so the chemicals would stay contained in the area around the MN contributing plant.
Congrats on your promotion. Rumor is no more promotions or raises coming in Q1 2023.
Ma------a will be legal in Minnesota soon. Looks like you have already celebrated with one too many reefers