I encourage everyone to vote NO to all board members re-election on the form sent to all stockholders. Let's send a message to the Board that they have been seriously negligent in their responsibilities to the shareholders.
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Recent months have been several SVP traveling around the regions. I happen to attend one of the meeting with leadership. One of the SVP commented that we should work hard to get share price up, exact words "3M share price does not deserve to be low"...blah blah...
Obviously he has tons of stock options that's why he is pushing very hard
Having huge amounts of stock options for sr management only works if the company is not allowed to buy back its own shares to artificially jack the price, and hence management comp. Prior to Reagan this was an illegal form of stock manipulation. The net effect was no investment to grow the company, just sr management comp via stock buyback. Thulin made good use of this to jack the price to $216 from mid $80s where it had languished for years. Sadly many other companies used the same strategy and still do.. The result was hollowed out companies like Boeing and 3M.
I have no more shares so I am unable to participate
I voted 'no' for all of the current board members. However, I only have 0.784 shares of 3M stock left in my possession. I don't think my vote is going to have an impact.
It's a feel good move, but since 2/3 of the stock is held by financial institutions, not individuals, it's not gonna make a difference in the long run.
I have never voted against board before. Like others I encourage all 3M employees survivors, retirees, and those impacted by Mike Roman's failed leadership to vote "against" all board members. I know it doesn't matter but at least if a lot vote against there will be a record of our displeasure in the boards support of Roman's tenure.
YES VOTE AGAINST every board member and then FOR the last question. Just did
I think 10x their compensation is a bit much -- Bill Brown would need to buy $160m in 3M stock -- but something along those lines would be very, very good.
Mike Roman and the rest have absolutely tanked the stock price, with zero repercussions. And if they don't hold company stock it means nothing to them.
Moreover please vote in favor of the board resolution that requires all senior executives to hold 10x their compensation in 3m shares. This resolution appears at the end of the voting list. This is the kind of investor action that will ensure our theiving , corrupt, unethical executives and the complicit incompetent cuckold board have skin in the game.