Almost double that over the last 2 years.
Will the bleeding stop?
31 replies (most recent on top)
Ha! The Bain-sters! They certainly made off well.
And let's not forget that Al and his cronies spent $40 Million on a Management Consulting firm to help them improve our performance, etc. Not working out so well is it?
Why do people say AM is narcissistic and with an ego?
Before AM was CEO, people wanted to work for Enbridge and wanted to invest in Enbridge. Since AM, people no longer want to work for Enbridge nor own Enbridge stock. With such deplorable performance measures reflecting directly on AM, why is he still the CEO? Why does the lame board continue to endorse his incompetence and narcissistic ego?
Cool
Some institutional investors are getting out. La Caisse (Quebec pension fund) is one of them.
The stock price is down because the 3-4000 employees that have been laid off over the last 3 years who have been buying enbridge stock over the last 20-30 years are collectively dumping their shares to fund their early retirements lol
Due to the increase in interest rates, the predictable enbridge safe dividend doesnt look so safe anymore. A failure to follow through on that dividend promise wont be good for share price, or the employees.
Management sets the tone for what gets rewarded. What gets rewarded is a$$ kissing and pretending everything is great.
The beatings will continue until morale improves.
Agree. Enbridge used to have a certain feel about it, and trust was part of it. Over the last few years, the feel of the company has changed, and trust is no longer part of it.
Probably the employees’ fault, though.
Who knows? Maybe the blame for Enbridge’s problems does fall on the employees.
All I can say is ... Enbridge used to be the kind of company where I would willingly and ungrudeingly put in whatever amount of time it took to do the job well, often 12 to 14 hours per day. Now it’s just not.
After watching some of my former (outstanding) colleagues be summarily and coldly dismissed over the last few years, and sensing the animosity coming from senior management of late, as someone said earlier, in the words of Gordon Lightfoot, the feeling’s gone and I just can’t get it back.
So, no. I don’t put in those hours anymore.
Typical RDO propaganda troll blames employees for decline in share price. Perfect example of how to ruin moral and engagement when the real problem is with the executive and management NOT the employees. Hard to lead a horse to water if you have beaten it for 4 years and broken all it's legs.
The blame falls on the employees for not performing. Al can only do so much with his leadership. You can lead a horse to water but you can't make it drink.
Before AM, the workforce was fat and inefficient and the company made lots of money. Today, the workforce is leaner and more inefficient and the company is not making money. How is it that one bad apple can ruin and entire barrel?
It appears the decline in share price mirrors the decline in workforce. AM is over his head in debt and delusional that redirecting opex to fund dividend increases will fool the investment community. If AM does not destroy this company, it will take decades to fix the damage he caused. I wonder why the board is not taking action to remove this cancer from the organization.
More like...jerkshire hathaway
In this case size doesn’t matter! All that needs to happen is for an activist shareholder to engage in a proxy fight. They don’t need to buy Enbridge, they just need to convince enough of our shareholders to give them their vote. Just pitch something like: “I can fix Enbridge. Just give me your proxy vote and I’ll get your money back for you”. If enough shareholders agree, Bang!, you have a new board and the first thing they do is fire the CEO and the ELT. That’s when the fun starts!
No possible way Williams can buy Enbridge, they’re half the size.
Id be surprised if there wasnt a hostile take over attempt in the next year especially if the stock continues on its current trajectory. Berkshire Hathaway is probably looking for a good utility company.
Do you think Williams will buy Enbridge? And take on all this debt? Or wait another year or so when renewables are sold
Meanwhile, before the most recent cratering, Williams’ stock price was up 25%+ over the last year. It’s still up maybe 12%.
This is your competition Enbridge. Be afraid. Be verrrry afraid.
Things that are cheap are for good reasons.
When Enbridge bought Spectra, the two companies had some much duplication that you had to let good people go. Not to mention the synergy targets of $500 million or so. As a layed-off Spectra employee, I can say without doubt that both were excellent companies and in time (perhaps another year or so) Enbridge will recover and have all of this past them.
In the mean time it is a good chance to get some cheaper Enbridge stock.
As Gordon Lightfoot once sang, "I don't know want went wrong but the feeling's gone and I just can't get it back"
The stock is down because of worry about 66 billion in debt which is almost equal to market cap, interest rates are rising and the political challenges of getting projects approved.
There are better and safer places to invest.
As a recently laid off employee, I have a difficult time understanding what, exactly, went wrong with Enbridge.
I know there was some duplication and lack of clarity about roles and decision making authority before BOEF, but it seemed like the company was, overall, quite well run and very successful, and the stock price reflected that. Then came BOEF, Spectra and the RDO, all of which were supposed to improve Enbridge, but everything, including the stock price and employee morale just went straight downhill.
Why did the situation get so bad so fast?
doesn't matter if it is 7 layers of management or a dozen, incompetent management will sink any company, good assets or not.
Selling off assets is a desperate move.
Especially renewables.
Now down 21.5% over the last year.
Ding ding ding. This is the winner. We’re all over here distracted by years of rolling layoffs, which I agree are sh--ty, and this is the real story. Al has been fixing this company for going on 3 years now, and the stock price continues to plummet. This is what we should be talking about. The “enbridge is treating its employees terribly” narrative is too easy to write off. Oh we’re spoiled, oh we don’t know how good we’ve had it. Blah blah.
The stock price can’t be written off. Al’s communication seems to indicate that he believes that the recent round of layoffs was a first step and that investors should give the stock price time. But it’s not. It’s the latest in years of fixes that is doing nothing to improve the stock price, dividends, etc.
No