Can anyone tell me why Vale gets 25000 shares every year even through the pandemic.crazy
4 replies (most recent on top)
Vale always thought he was the smartest guy in the room. Guess he'll have a chance to prove it.
It's pretty much a given that the HC CEO job is monish's if he wants it. Not that I like it or agree but the signs are all there.
As for the next 3M CEO, I believe mandatory retirement age for CEO is 65, which gives mike two more years.
No chance a hot shot from a competitor will want to walk into this mess, given the lawsuits alone and lack of organic growth. Which means the company will hire from within. Look at the list of company officers and Vale clearly looks like the frontrunner. Again, lousy choice but he is 6 years younger than mike and can finish off the breakup and dismantling of this once great company.
- If you still own shares, sell now. Even at a huge loss. 115 dollars is still 115 dollars.
- If you can, start your pension before bankruptcy hits. The PGBC Rules are really bad for people who try to collect before 65 when the company is in chapter 11.
- Live your life as if you don't work for 3M. Enjoy family, friends, coworkers, relative health and wealth, faith, etc. These endure long beyond 3M, who's final days are imminent at least before chapter 11.
- If you are a pre 2000 hire, know that you joined a 20th century marvel. GE McNerney started the slide that we now see in its final death throes.
Good luck to all
If Vale is the next CEO, we can all just start writing 3M eulogy. He is a tried-and-true GE-style, cut your way to growth believer.
It has been said before on this board, he has never hit a growth number in his career. From my knowledge I think that is an accurate statement.
Vale is getting big shares to stay around and support monish when he becomes CEO of HC company.
He may even be Mike's choice as his successor.