Two days after the bad news from the earnings call
After the stock dropped 12%
Our projects are all a complete mess and everyone is spread thin.
Whatcha think is coming next?
Yeah. Hold on to your hats.
https://recentlybooked.com/SC/Charleston/MICHAEL-GIANONI~79_0001611720
Finally a message from Mike of absolutely NOTHING! No apology! No admission he made a cr-p decision. This spineless board is going to allow him to get away with this! Well… thankfully I have my resume updated.
Still not a peep. Next Wednesday (2/28) is the all-hands that Mike G leads so it will be interesting to see if he is stupid enough to show his face. And if he does, I hope everyone will disconnect from the meeting in solidarity for those whose lives have been turned upside down by stupid drunk drivers. I mean the fact we’re nearing a week since his arrest without a peep, I’m pretty sure Blackbaud is going with the ostrich strategy and just hope everyone will forget in a month or so.
Still nothing. Can’t say I’m surprised but I kind of am.
They need to clean house with all new leadership across the board.
Well if I know the leaders at Blackbaud they’ll wait to see what the stock does today on the DUI news before they even make a comment to staff. You know… because stock price is all that matters to leadership because the majority of their salaries (many millions) is held in stock shares. Still waiting for latest insider reports to see how many leaders sold shares just before Q4 report when it was $20/share higher than it is today. They’ve done that every year before so it will be a surprise if they may have listened to the outrage from last year when they made off great just before shares tanked for annual bonuses. We’ve been yelling for new leadership for years so I hope Blackbaud will take this opportunity to do just that and not use it as yet another excuse to do layoffs.
how has the company not sent out anything to employees about this yet?
DO GOOD BETTER. BONUS IS STILL NOT CASH, BUT STOCK BASED??? OOF
Arrested at 6:15am, on a Friday? Was he going into meetings at 8-9am? Working at Blackbaud has become increasingly farcical - no accountability at the top. Message to board: If you want to improve employee engagement, kicking Mike G to the curb would be a great start.
So leave it to this leadership to once again sc--w up the cashing in of stock for our annual bonuses. First day we can sell and many put in the order before even knowing about this. Blackbaud should have put out an internal note about this before the sun came up. Mike G will make out like a rich white bandit while we’ll never recover the money lost because we couldn’t pull the sale order while his bad life choices pulled down the stock nearly another 5%.
Mike if you are reading this plz no layoffs, I know a lot of employees are concerned about potential layoffs due to whatever fall out that happens from this
One has to wonder, can Blackbaud continue under the leadership of this CEO. Clearly his judgement now has to be called into question not only for his personal life but his leadership of Blackbaud going forward. Its time for the board of directors, employees and major stakeholders to act and demand a change in leadership. One that drives the company forward on a proper path for the next 20 years not one stuck in their old outdated ways. The window of opportunity has opened and it should be taken as he has sullied Blackbaud's name acted contrary to Blackbaud's mission. He can no longer remain in charge.
Not a word of this in the news - either Charleston or wire - feel bad for the stockholders/grantholders on Monday
Oh my. Mikey G what a poor decision. How will this mess up now affect the company? Does Mikey G now lose his job? More bad publicity more negative pressure on stock price? If this depressed share price continues is that another round of layoffs sorry reduction in force? Nah who am I kidding this is gonna get an all company memo and or meeting for damage control.
All hail the old boys club!
Millionaire with so much to lose, doesn't shell out money for an Uber or have someone else drive him. Unbelievable.
This country needs to come down extremely hard on DUI. So many people get behind the wheel and DUI with 0 regard for others. I don't get it, $30-$100 uber or DUI costing you thousands, your reputation, and yours or someone else's life?
Need drinking limit laws like Sweden.
ughh come on Mike. Rookie move.
This pretty much seals the deal for layoffs, probably on next earnings call. Gonna update the resume and doing practice interviews.
Love working here but I know they have layoffs every year to appease shareholders, 100% bet that layoffs will come from this and due to the missed earnings, OR we will be acquired by Clearlake or whatever.
As bad as today is for him the coming days will be much worse trying to spin this to the employees, board, shareholders and customers.
While I hope he at least takes time away to get help if he needs it. I hate to cancel anyone for this when we dont know the true depth of the issue.
However I hope the board cans him like he has so many others over the years. At least he will have his millions as a parachute built upon the backs of hard working folks who were never valued properly unlike the many he has terminated that left with 2-3 months of pay and had their lives implode.
If that was anyone below C suite they would be terminated.
I hope he feels at least half as humiliated and traumatized as the hundreds (thousands?) of dedicated employees he has terminated.
Guess the earnings took a toll as he watched his net worth plummet with the stock.
Board of Directors, maybe its time for a change in leadership.