Since it appears that our employees are too expensive I hope our sports sponsorships are okay. God forfend that our multi-million dollar execs cut back on sponsorships.
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The 3M Open is one of the few things they still do right. My only advice is to not play commercials stating "Do. No. Harm." Probably won't sit well with vets. Better off playing reruns of M.C. Hammer. Check with Kearney first though.
NASCAR might, just might, actually have a good business case, with AAD's profit margins and the visibility to their key US market geography. I haven't seen the numbers, but I could imagine it working.
Pro golf on the other hand - damn - It hits a lot of the wrong demographics. (Older, not growing markets, not tied to any real business of 3M.) Just seems like spending millions of dollars for the executives to pat each other on the back.
I recall last summer somebody asked in a BG town hall why 3M sent corporate jets, plural, to Augusta for the Master's tournament. Nobody wanted to answer that question for some reason. Might be worth firing up the flight trackers to see if they do it again in April this year. Some enterprising soul might want to set up a twitter account to publish 3M's jets movements, just like Elon's jet.
Earplugs and PFAS are probably scaring any potential activists. Why bother messing with 3M when there are far less risky targets with better upside. Unfortunately, Mike and company will be given free reign to milk mother mining until she is dry.
No one says "Science. Applied to life" better than Jim Nance during the 3M Open.
This is why an activist investor, like Nelson Peltz who just settled his beef with disney, needs to swoop in and stir things up for a major change.
Peltz took on dupont which had a hotel, country club, and sponsored a playhouse among other glitzy things. The waste on these holdings or sponsorships is a drag on earnings. Peltz even challenged dupont management how much it cost to run and sponsor these things and they didn't know.
Who's going to go to the 3M championship when they were told after 25 years that they were no longer needed at 3M.
Wonewok must go. That property probably has some resale value being in a resort area.