What a snooze fest.
A third of this 35 minute broadcast was administrative blather and CYA statements. Roman's comments were obviously highly scripted (you can actually hear paper shuffling) and very stiff. No emotion, no passion, and especially no actionable vision. Very anemic. Q&A was also highly scripted and MR's responses were obviously prewritten and approved by legal. If I was playing corporate jargon bingo, I would have won within the first half of this presentation.
My take away is that there is no escaping more layoffs in the future.
3 replies (most recent on top)
3M broadcasted a very mild, if not weak presentation of the company during yesterday's annual shareholder meeting. Today the stock slumped below $100/share for the first time since Q3 2012. Coincidence?
@ffd+1my7Ad5n… OP responding…
There were no live interactions during the Q&A. This meeting came across more like a broadcast than anything else. Felt like it was MR and two others sitting in someone’s office while they presented canned statements. The questions that were addressed were already submitted and vetted. Responses were rewritten and read. Most were consolidations of questions that had similar topics. I think only 4 questions were addressed.
Typical MR style… taking 5 minutes to give a 30 second response.
They also could filter out any tough questions in a web cast. This video will help me get to sleep for my 2 pm nap.