I realize a lot of us are nervous right now, and, frankly, with good reason based on the rumors circulating at all of TIAA's locations.
So what do we know: in truth? Not much! But we can take a look at patterns and see a very interesting one emerging. A pattern that follows roughly 2 years into the future. Come with me down this rabbit hole, won't you?
Our story begins with our new Control Exerting Oppressor (CEO). Now to look at her history, she came from the school of hard knocks, but now she's rocking like a $12M income for 2023, so, I don't know, stop pretending the company can't afford our Variable Comp? Anyway, she came from her previous position with Chase. Also an executive of the highest order there, and to look at articles online, it would seem she did great things for the company. I'd be curious to hear what her employees thought about her there, but I digress. While she worked at Chase, she was influenced, mentored, molded even, by Jamie Dimon, to become the "perfect" Company Exploitation Officer that she is today.
While this author cannot claim to know Jamie Dimon's teachings and beliefs inside and out, I do know that he has also been vehemently against moving to a true remote or more flexible working situation for his employees, so I'm not shocked that our Controlling Economic Opportunist is falling right in line with him on that front.
Our "leader" and Dimon share a special bond. In an article from Fortune, they reported that the two still regularly check in with each other. You may say, Oh but, Anon, that article was written in 2022! Sure. But Dimon did write her blurb in Time's Most Influential People of 2024 this past April, so it's safe to assume not much has changed. Either way, the connection itself shouldn't be surprising. After all, networking is exceedingly important. So who can blame them? Him being the caring mentor and her being the student flying to new heights. But is that really all it is?
Let's look at a couple of things. Since she took over, the company values and messaging each year has shifted from one of unity to do better for our customers and valuing our people as assets and not disposable, to one of profits over people and valuing the company as a whole, not those who make it work. Additionally, when was the last time we had decent Variable Comp? The last year we had Roger. Interesting. When 2020 happened and companies were talking layoffs, what happened? We were asked to come up with ideas to save money. We were told "hey, we are suspending Variable Comp, BUT we are not going to lay anyone off!" and all of us went, "oh good! we're cool with that!" And, you know what? I had my biggest bonus that year. I was ranked the same too. Weird, right?! Yet somehow, we are struggling worse than before to the point that we need to drop ALL of Denver and Sell IRPS to Accenture? Huh... Not buying it. Unless there is something else going on. Something like TIAA being strategically weakened in such a very specific way; in a way that trims the fat that someone else doesn't like, to allow for fear to creep in on the Board, to, perhaps, seek help or even salvation from another financial institution. Perhaps one that our Completely Egotistical Overlord has strong ties with? One with its own leader who happens to currently be 68 and by the time this whole process is likely in place and ready to proceed, would be 70 and ripe for retirement? And could it be that he has already picked out a successor along with his perfectly crafted golden parachute to cement his legacy? Am I implying that there is a plan between the two of them to get TIAA into a position to be acquired by JP Morgan? Absolutely I am. Think of what adding TIAA's AUM to JP Morgan's would do to their reputation and standing amongst financial institutions? Makes a little too much sense, especially considering locations like Frisco and Plano, and the relationship between the two. Not to mention the very specific changes that have been occurring since she took over.
All I'm saying is: it's worth more than just a thought. But what do I know? I'm "just" an employee here... I couldn't POSSIBLY know anything. Right?