Right before our earnings on 14 Feb. Reeder has been disposing his stock systematically since the first week of January. He has sold 117572 shares for a total of 6.6Mil.
Everything is legal here but it does raise eyebrows if our earnings are going to be bad. Especially when they have proactively had layoffs as well to answer investor questions that they have money coming from ONSemi, had layoffs which will help the earnings.
I thought it was well known or established who it is… Malta ny guy
Looks like the double crooks Tommy boy and DR have hired a troll from a low cost gF site to downvote all the good comments and upvote all his own a--licking comments! Truth hurts haha
Well, since they don’t have Stewart’s near Essex, your actual new job is probably a ticket boy at the Essex Cinema’s or a dishwasher at McGillicuddys, considering Vermont’s job market, outside of Global, is healthcare and service-based industries. When I make it to the Five Corners for lunch, I’ll make sure to pay you a visit, box up my leftovers, and let them to know they are for the dishwasher, since he isn’t collecting that sweet GF Wall St. smart money, in order to make ends meet.
I’ll ask that my Christmas gifts, for the Global toy drive, goes to your children, so they can have somewhat of a decent Christmas, since daddy is having trouble and can’t stop trolling the layoffs board, having conversations with himself, failing to sway others’ viewpoints, rather than finding a good job.
I like Stewart’s cherry vanilla and their hard rolls.
@9kkv+1kSSHCMo, you seem cranky. You got a load in your diaper? Need a nap? I’m not sure about @7vtj+1kSSHCMo financial security beyond March but I’m getting another 5 months lump sum after the 90day period. So, I’m good until August. Most of us who got let go are out here double dipping. I know it bothers you. Take some time with it, you’ll be ok.
Both CEO and CFO aare getoing rid of the stock and Qualcomm the biggest customer reported revenue falling by 12%, with guidance implying more pain this quarter so let’s see how the stock will fare after their earnings call
Another 57k on 2/2/23 for 3.5Mil
I guess the positive side to this is my financial stability is no longer tied to this company. 😉
All jokes aside this is very alarming
Fu-k there is another disposal of 9.5k on 01/31/23
Ha those dopes! They should have sold today! They lost out in millions by selling when they did instead of today! Haha the guys in charge at GF really know what they are doing! Mo--ns
Yea not good. What do they know that we don’t? Guess we will find out on 14th! Happy Valentine’s Day!
The last actions were Veterans Day and thanksgiving and holiday season. It’s like they plan for the holidays on purpose. March 17th? St pattys dat - Well that is start of next wave!
Definitely envy for sure. Imagine making 8mil in January and especially when people barely have jobs.
Another transaction of 9.5k on 01/30/2023.
envy!
Must be gearing up for Feb 14 earnings Call!
Another disposal of 38k shares dated 01/27/2023
Don't let the door hit ya where the good Lord split ya!
There another 9500 sold by reeeder on 01/25/2023. As people have suggested that he is definitely looking out for himself. This is the last straw I am looking for another position. Fu-k GF
It’s time for a new CEO! New direction. Another pivot.
Understood - thank you
@1wfu I inferred that they used the recent layoffs to save money on the same function. There was other context. Like a question before "why are we hiring people into positions right after layoffs hit those same positions?"
Someone from a non-US geo also asked about US-based favoritism and his excuse was we're headquartered in the US. As most of the other senior leadership joined the call from Austin, Kentucky and so on. My thoughts: If they're a flight away from HQ, then it shouldn't be a problem for other non-US people to be a flight away... albeit a longer and more expensive one. He also used the poor management excuse of "this is how it was for me".
My team is kind of an afterthought and has bounced around different SBUs based on who feels like a shake up is needed. Being in F&O now is interesting because I get to attend these meetings.
hard-hearted? What do you mean?
Anyone in the F&O organization gets to attend DR's All Hands meetings. Yesterday was something else. Someone asked about layoffs and hiring. His answer was hard-hearted. This is GF.
This is very strange because anyone JL10 or higher at GF is an exec and got a bunch of stock options before the company went public and the last batch vested 12/31/23. However, any normal exec at GF is in blackout period all of Jan and until Feb 14th, they can't sell RSUs or cash in options. So how the he-l does Reeder get to exercise shares when no other lower-level execs at GF can do this inside the blackout period? I guess the insider trader rules only apply to "some execs" and not CEO or CFO, what the he-l is going on here???
Personally, I expect Reeder to be the next CEO, to crank out more profit from GF the financial machine, it certainly isn't a technology company!!
Well also I am selfish reading this board…. Hey that’s great he is making money. Sure for him personally that is smart or right move … butttt… fu-k him! I am here for me and seeing him make those moves means bad news for ME! So you can defend him and why he is doing it and how it makes a lot of personal business for himself …. But again it’s bad news for us. Jesus fu-k why are you defending him?!
@pot+1kSSHCMo as a CFO there are certain actions required for a long term growth. And have you ever heard of averaging low. By the way I get it that if I am a CFO I will sell and get the he-l out of the company.
The problem here is that you are thinking of a very short term picture of things
The point of the post is apparent. Do you believe investors and employees aren't aware of market fluctuations and the pros and cons of selling stock regardless of the optics? The same investors and employees would probably think he's a fool for not selling when he did, which would also reflect back on the company.
Look I get it, you hate the company and the CFO, you can second guess and hypothesize all you want about his actions. Not making excuses for him, but he's just looking out for his bottom line, the same way you or I would.
I am sorry I gotta chime in here..
@pot+1kSSHCMo
And
@nox+1kSSHCMo
Do you really not see or understand the point of this post? And how this news is alarming?
So what you're saying is he should keep his existing stock, and even buy more knowing he's going to take a huge loss? Are you high? That statement hands down is the stupidest thing I've read on this site to date. Congratulations.
@nox+1kSSHCMo you are right in your outburst that we should just continue with our stuff. But the trouble here is the bigger picture, if I were the CFO and assuming I wanted to gain the trust of the employees and investors I would be keeping the stock and buying more to gain confidence from everyone around. That would be the most ethical and reasonable thing to do. Having said that, do I believe that CFO, CEO, etc have more stock, yes they do but the way they are doing it right now just comes across as a negative outlook especially when they have announced layoffs, etc. If now the earnings are not great and the stock value goes down then you know the top brass cashed out. Think about CEO and few of the board of directors cashed out when it was at the highest and they knew that the stock value will go down with the negative news of layoffs. Again this is all reading between the lines and critical analysis. All I can say is I don’t like it and am sharing it with you to be able to make your analysis
Thanks for the post. Time for SEC to look into the insider tradings of these corrupt monkeys.
So if you had the same amount of stock, what would you have done? Seriously, what would you do? Sell it for a profit, or keep it for a loss? Enough of this us versus them sh-t.
CFO Homeboy is busy! Wish he gave same attention to Globalfoundries own finances
https://www.theglobeandmail.com/investing/markets/stocks/GFS-Q/insiders/