I thought we're back to the right track
26 replies (most recent on top)
quad witching day
To be fair, I think everything I've read on this board has actually happened.
Where’s the bad news? More conjecture and BS from this board.
Can Bryan be the CEO of RemainCo
And Mike Roman move over to CEO of SpinCo?
Can you elaborate or is this conjecture?
Can Bryan do the next speech?
I think Moni is looking for a reason to start a new round of restructuring. I think this time could be another 10k people globally before the spin in 1H 2024 and he would become a CEO of Remainco. Let’s see.
Simply put, 3M has no strategy for growing or maintaining their business. I’m talking about market/sales protection or share gain in existing markets, expansion into new markets, nor new disruptive technologies for creating organic growth. I’m calling BS on any corporate strategy that would inspire the investment community. So sad because it’s not that difficult.
WOKE in motion now finally getting.
The only real problem with Mmm is the so-called leadership. No vision, no accountability, no plans, no meaningful action.
Ironically 3M does not have significant factories setup in Vietnam or India. Mostly low end coaters or Converting lines there. They have close to 10 factories in China though.
They need to stop using the excuse of China. More and more high end electronics manufacturing are moving out of China into countries where 3M had a much smaller or non-focused presence in, such as Vietnam. It astounds me that the company did not make use of the months of information as companies set up new factories in South East Asia and properly increase staff in those countries to ensure that existing spec'd in products continue to be used there and develop new applications in those newly set up factories.
Too bad the electronics BG had cut application people in that region instead of redeploying.
That stewpid Moni pig keeps talking about supply chain healing. is supply chain the only problem? not lack of growth or R&D??
Next stop 85
The right track is at least 125 points away. Never to be seen again!
One step forward ,Three steps back, unfortunately this is the death knell of Remainco, everything is gearing up to try and make Spinco work Q2 next year, just cooking the books on Remainco, the truth is they need another 10,000 off the books by the end of Q1 2024
Electronics weaker. China continues to slow. Consumer still weak and moving from discretionary to staples. Expect this to continue through end of 2023. Expect “slow growth environment” in 2024. Big opportunity in DIY / home improvement with aging homes (but if the consumer is weak ...?) Vehicle electrification opportunities as cars become "computers on wheels" (but if the consumer is weak ...?) (I laughed because cars have had multiple computers on board for over 20 years now. Where you been Monish?)
Combat Arms $6B settlement fund has been established and partially funded with payouts expected over 7 years. PFAS public water system settlement for $10.3B (present value with payout over 13 years) is a milestone. But PFAS lawsuits by state AGs, personal injury claims, etc. will "play out over time". (So still potentially 10s of billions of dollars of PFAS uncertainty hanging over the stock for the foreseeable future.)
Healthcare spin "practically" will be in the "1st half of 2024" (If he thought Jan/Feb was possible, he would have said Q1. First half hints at Apr-Jun timeframe. We've heard this internally, but this is a public admission of a big slip from the original 4th quarter 2023 timeline).
A comment was made about the “restructuring journey” that’s been going on for many years. Question was “What inning are we in?”. No clear answer on when the restructuring process will be complete. Just a comment that we always need to be evaluating the portfolio and making changes where needed.
Every time the CEO speaks, the share price will decline. Happened to Mikey. Now Monie has inherited this trait.
Yep, that is the right answer.
Monish all but guided down earnings at the conference. He did not sound optimistic. He also refused to say layoffs were over.
Some real bad news coming out of Twin Cities, all will be revealed on Friday, just paint your house blue
The wee Scotchman is consulting with Kearney & will be back to answer your questions in a few weeks.
Wow. Stock is looking so bad.
Earplug
Settled airplug
I already warned due to slow growth especially in China. With so many furloughs in Plants in recent months, it is expected that the coming Q3 earnings call will be a disaster.
Our CFO gave a speech.