Inside trading? or a fight?
25 replies (most recent on top)
No such thing as vanilla level perversion.....prosecutable....added to my personal experience with him, this is the tip of a big iceberg.
Previous poster: Incorrect. He was charged under subDIVISION 3, now repealed:
“§Subd. 3. MS 2020 [Repealed, 1Sp2021 c 11 art 2 s 57]”
So, just vanilla level perversion.
Anonymous maybe, but censored definitely. Don't tell too much truth, they'll pull your post down. Too blue..
Adios
auditing vp and above travel expenses is a much more fluid exercise. They have always got a pass. The current general auditor just blindly follows orders from monmon. So does the rest of his org. There are svps who charge their children’s meals to the company and they are blindly approved. This is not new. Past svps have bought 100 dollar bottles of wine as a casual biz expenses. There is a completely different standard. Thwn we wonder how can these things happen. Audit at 3M is run by a yes man who answers to the whims of the cfo.
They better vet all of Mike Vale's spending even going back years and the travel logs to Japan and Asia. Easy to make statement it was only personal conduct, when the forensics of corporate spending, travel and computer are not completed yet. There better be a full report to the BOD after scrutinizing Cale,'s email and expense accounts. Even if it doesn't all become public, the forensics and scrutiny need to be done to avoid any more legal entanglements. Sure the firing for cause and admittance is done but not the deep digging.
Has to be bad. 3M eats their dead.
What is the chance it could be an associated with any of the acquisitions or actions in previous businesses. Maybe they actually followed up on one of those anonymous conduct databases…..
MoPo the misogynist has been committing harassment since the day he joined. When do we get rid of the commerce graduate?
Give me a Head with hair, long beautiful hair.
Maybe MV was trying to emulate the 42nd President of the United States. Only thing missing was the cigar.
He must have bummed someone who he wasn’t supposed to. The guy had too much testosterone for his own good….good riddance.
On the flip side MR will delay his retirement….or we may have to reanimate Inge out of retirement.
Has to be big if he didn't get "to seek other opportunities." Se-ual misconduct, sure. Using corporate jets to move dr-gs, maybe. Having a drunken argument with Roman, probably not. Roman is an id--t but still knows to protect the stock price when possible, this firing of a c-suite means whatever IT is; IT can't be swept under the rug.
I don't know what it was. The wording of 'immediate dismissal for cause' and 'violation of company policies' combined with he hasn't been arrested yet narrows the list a bit.
Going with big categories:
S-x:
- Sleeping with subordinate(s)
- Gross se-ual harassment
- Illegal po-n on company computers
Dr-gs:
- Using dr-gs on company property
- Transporting dr-gs on company jets
Money:
- Shady side business dealings (with suppliers/customers/family)
Violence:
- Carrying a g-n onto 3M property
- Physically as--ulting Mike Roman (or another employee)
Not being arrested and 'no impact on company operations' statement probably excludes a whole bunch of obvious things like insider trading, embezzlement, pr---------n, bribery, etc. If he was only using dr-gs at home it isn't a violation of company policy, it is just illegal.
I agree with other posters that 3M needs to give one more level of detail here about what he did. The man was undergoing final vetting to be CEO.
In any event, Dr. Vale's career is almost certainly over and I shed exactly zero tears for that.
The announcement said it was unrelated to company’s operations or financial performance, so that must mean not anything insider trading related. So what’s left - se-ual harassment or similar. It would not be hostile work environment as that takes them months to wade through and this sounded pretty immediate.
I've been involved in "quick" terminations before as the "impartial" manager brought in to ensure that the accused had a "fair trial."
For one, if this involved an inappropriate relationship, I can assure you that higher ups would have known about it for months. Companies do a thorough job vetting the accuser and others who might corroborate or refute the allegations. The threat of a lawsuit for unlawful termination drives the need for thoroughness. So- if Mikey knew of something that could have detailed Vale, then he is even more incompetent than we thought (quite possibly true). Why promote a guy to 2nd in command if something is hanging over his head and unresolved? Then again, the stock is down 150 dollars or 60 percent during his 5 year tenure.
I highly doubt insider trading. 3M would have to publicly declare this with the SEC and fast. Unless something comes forward this week, I doubt it was inappropriate business dealings.
I can't believe this company has become the Titanic. What a waste. Hey tireman, are you next in line. If so, pass the scotch to us. We'll need it!
Has to be something that could negatively impact the company or they would not have given details like that
All we need right now. I vote "no confidence" in these people that are deciding our fate. What a joke of leadership. Embarrassment.
We all know he was being vetted for the CEO position so something probably was discovered while looking into his history. Playing the odds, most likely a "relationship" with a co-worker, 2nd most likely is insider trading.
I don't know the man's character, and this is just speculation, but speculation playing the odds of how these situations have played out over the years all over the world.
S-x and Money, 2 powerful forces in the downfall of any powerful man.
See the movie "The Firm".
Just says he was terminated for innapropriate conduct. No specifics, but it was immediate dismissal.
I vote for him getting in a heated fight that went too far. He has always been a stand up guy - can’t believe he did something illegal. It had to be bad, he essentially was going to be the next CEO.
https://www.streetinsider.com/dr/news.php?id=21663026
I dont know but it must've been bad if it was effective immediatly. I have seen my supervisor, who has a history of bullying, just get training for bullying. Also I have seen a now corporate scientist promote her book during an CRD town hall and not seen any repercussions for it. Wondering if it was an argument with our dictatorship that maybe got too heated and perhaps they threw the book at him? Would love to know the real T
To us on the outside, what are we missing?
I'm sure whomever was responsible for the internal vetting was the 2nd (unnnounced) departure