Apparently Rich and the Board are planning to sell MOA with the executives going away with Hugh packages.
With all the layoffs and assumed more coming,cutting of benefits,reducing staff,ETC, it should be obvious that they are making MOA more sellable.
@g7 net outflows are massive. Assets sales like Landmark, 1150 Broken Sound, and 320 park ave. The surplus dipped to under $300M in late 2024 w/out these sales. So, the current surplus is artificially propped up. Accounting tricks that they have used to their advantage the last few years to book cost savings in the current year instead of spreading them out over future year are outrageous & should be illegal. They constantly use slush funds in and out to prop up artificially the true revenue & profit numbers. Slight of hand. Smoke & mirrors. Accounting tricks. Call it what you may. Company can’t find easy ways to raise revenue. Sales is down. Accenture will cost more, not less over massive QA issues medium term leading to more client defections. Bottom line is that they with all these changes HAVE NOT IMPROVED THE CLIENT EXPERIENCE & MUTUAL IS NOT EASY TO DO BUSINESS WITH. In reality, the reality is, the company really only has about 4,000 group plans left which mean anything & only 350,000 active contribting participants in group plans. TEAM CX really does SUCX.
@d8 they both denied it hard last year that the company may be sold. I have learned over many years in the corporate world that the harder someone denies something they are lying & covering up. When a CEO & CFO both deny hard at the same time, it usually means the opposite. They both have lost all credibility. Don’t believe a word either one of they say. When the company is sold, they each will walk away with millions in a golden parachute plus their special incentive 3 yrs deferred comp shares.
@g7 company’s net flows are negative $1B a year. Slow constant bleed. $1B net flows out neg translates into -$20M in lost revenue .
That is why they are downsizing and reducing costs so in 2-3 years from now they will be profitable and become salable at a higher price as i previous stated, read it again.
By the way they have value. Look at the Balance sheet and see what their surplus is and they still have 10's of thousands of clients.
No one will buy a company that has no value.
Yes.
They are playing on words. What they are saying is referring as of now. It is planned though, but latter down the road. Maybe 2-3 years from now.
@b4 the company is still spending lavishly on NFL Stadium Suites in LA, ATL, chicago, and Minnesota. $1M per year & 1/2 the people who go are regional office friends & family.
@OP wait. Both Janofsky & Rich said to our faces last year that the company is not being sold. Are we to as.sume they are liars ?
@b4 how about the once loyal employees..? Rip to them.
Does this surprise anyone??? This company has taken a nose dive since greed ruined this company! He was more concerned with his favorite music he wanted to play after meetings, or the d-mb wine and crapes videos when the company was failing. Not to mention the horrendous spending on the lavish meeting for the sales VPs in Florida and Texas! It is embarrassing that the once loyal clients are now suffering...