When times are good he adds too much to the workforce and says "look at me, I'm doing so good I need to hire beaucoup new guys."
Result: CEO gets big bonux
When times are bad CEO cuts employees and says "look at me, I'm saving the company sooo much money."
Result: CEO gets big bonus
I wanna be a CEO.......
tng- this merger was never "sold" to bally employees.. It was shoved down our throats and we gagged all the way. A great company destroyed by perelman and his ilk. Yeah,,,,fork you gavin and hadrill. Love to discuss with you two how this went down, sometime.
And you know how this merger was sold to us as the best thing that could happen!!
And you know how this merger was sold to us!!!
Fromm what I read this new CEO s---ed at his last job.....
Sure....let's put him in charge of one of the most regulated industries on the planet.
.........SGMS employees are sacrificial sheep. Welcome to corporate America.
The real question is, who "scored" by this unbelievable merger between
SGMS/Bally/WMS/Shuffle. I think we all know the truth.... Wall Street hacks and corporate execs.....
Quite a scam folks...
This guy was hired to reduce the debt. He did not "inherited" anything. This is what he signed up for. He is the hatchet man.
Look what he inherited, $8B in debt. Put yourself in his shoes. On top of that mountain of debt equipment sales are only a fraction of what they used to be. And one must remember how things got this way. In 2013 "WMS was acquired for approximately $1.5 billion in cash. In connection with the merger, Scientific Games entered into a new $2.6 billion credit facility" and then in 2014 Bally was acquired, " The aggregate transaction value was approximately $5.1 billion, including the refinancing of approximately $1.8 billion of existing Bally net debt". Do the math. Even if machine sales were par with the volume that was seen a decade or so ago it would be like chipping away at this mountain of debit with a chisel. And yet we all know somebody made out on these deals...
Me too, I want to be a CEO, but there is only one spot and there are so many people who want to do it - that's why they make so much money