Posts by Fatman 2400 publicly visible posts • joined 6 Apr 2008
We have another entrant in the Revolving Door Executive Sweepstakes, considering her short tenure.
Any one care to speculate on the real reason for the departure???
In terms of tenure in position, this Revolving Door Executive's very short tenure will probably stand as one of the shortest:
http://grist.org/news-2/duke-ceo-bill-johnson-resigns-after-one-day-gets-44-million-in-severance/
At least he can not bitch about the size of his Golden Parachute!!!!!
I am sorry Mr Mangler, but seems that you fail to have an effective understanding of the risks that your proposed actions may have on the company.
It would be in the best interests of the company for us to assist you in finding new career opportunities elsewhere. Like our competitors.
That assistance begins with the door hitting you in the ass as you exit the company. You have five minutes to collect your personal effects and vacate the premises.
I have a friend who works for such a company.
Back in 2010, a 'parasite' found itself on the company's BoD, and in a few short months, drove out the other directors, who were replaced by other 'parasites'.
In September, they arranged to 'force out' the entire executive team that ran the company profitably, and install more parasites in their regional offices.
In September 2011, they had their tickets to the Gravy Train Express1 renewed, riding that train for another year. Repeat in 2012, 2013, 2014 and 2015. All during the while the company was slowly losing money. They hid their losses by mortgaging the company's future receipts (i.e. loaded up on debt), turning an original 96% shareholder equity/4% debt ratio around (4% equity/96% debt). In early 2016, the stockholders pawned off the company in a quiet 'fire sale', because the buyers wanted time to root out the cause of the losses. The new owners contacted the legal firms handling their affairs in each of the more than 50 cities they did business in, and arranged to 'loop in' one key assistant in each regional office to perform much of the 'leg work'. My friend who was an assistant regional COO was contacted, and agreed to assist in ridding the company of the 'parasites'. My friend had to keep knowledge of the ownership change, and their plans to rid the company of the 'parasites' quiet for nearly 6 months all the while doing the necessary digging.
The new owners waited until September 30, 2016 (the last day of the contract) to deliver the bad news. It was delivered by employees of the company appearing at the executives' company housing at 8 AM with moving vans. They carried a message from the owners that said: "YOUR CONTRACT WILL NOT BE RENEWED, and we do not need your services any more. You have 4 hours to get out of company housing."
It was no secret to the office staff that the executives were Milking The Cow, and, some wag decided that a perfect metaphor for the events of September 30, 2016 could be expressed by a drawing of a cow leaving behind a pile of tape worm infested shit. Within an hour or so of its first appearance, that cartoon was scanned and emailed to every other regional office. It was a morale booster.
They are still attempting to determine exactly how bad the losses were, as the executive fools compromised the books, and getting an accurate picture just might involve reviewing all transactions since October 2010. <sarcasm>I know that the office staff would shed loads of crocodile tears should the company bring charges against the executives.</sarcasm>
1 The derogatory term used by the office employees to describe the compensation package, perks and benefits these executives enjoyed. Work from home, company car for both business and personal use, company credit cards often used for personal items, no limit on vacation time, FREE company housing.
<quote>is into building nuclear reactors.</quote>
They might want to ask Toshiba about that one.
See below:
https://www.theregister.co.uk/2017/02/14/toshiba_chairman_resigns_6bn_loss/
and
https://www.theregister.co.uk/2017/01/03/toshiba_facing_nuke_power_goodwill_cost_meltdown/
Would be to suck down a shitload of politicians, followed up by lawyers and then finally PHB's.
As for politicians, we here in Merica can nominate any of 537 that come off the top of my head. From what I read of the attitude over on your side of the pond, there is considerable sentiment for sending someone named 'May' down it.
<quote>t is a highly politicized office and is populated with hacks, morons, corrupt incompetents, media whores1, and criminals in their own right.</quote>
There!!!, FTFY
1 Edited to include such types as Joe Arpaio (formerly sheriff of Maricopa County Arizona), and a more closer to home one, (Grady Judd of Polk County Florida who just loves to tout his department's successes on local TV).
Before he steps down as Chair, Shigenori Shiga should pay the US headquarters of Westinghouse a visit, bring his katana along with him.
Call in the executives involved and remind them of how the Japanese atone1 for bringing shame to one's self, family or company. And have a carpet cleaning crew at hand to clean up the bloody mess.
1 https://en.wikipedia.org/wiki/Seppuku
<quote>The dumbing down of America is well underway. Have look at Common Curriculum in the schools for an example. The result is people who want pap of which reality tv is a good example. Documentaries? Nope. Anything that might be science? Nope.
The powers that be want a managed population.</quote>
1) to re-introduce serfdom anyway possible,
2) to turn out 'worker bees' with the most minimal skills possible, while funneling the education money into Charter Schools, or to make gaining the requisite education so damn expensive, the college graduate is 6 figures in debt on the they day they graduate,
3) plenty of cheap prison labor, because they fear the browning of America, and the best way to keep the browns from voting is to deport them or lock them up, and
4) to insure that the children of good Christian families1 get all of the breaks, and every one else gets the shaft.
1 Read as White Anglo-Saxon Protestant. Catholics and Jews need not apply.
In most cases, shareholders of publicly traded companies are free to DUMP the shares of any such company whenever they choose. It is all a matter of whether or not you will get what you want for the stock.
Thus, if you are not happy with the way a company is run/its social mores/CEO and other executive bonus arrangements, you are free to divest yourself of them.
Most C-suites in publicly traded companies never want ot see their stock price free fall, and a massive dumping of stock by disgruntled shareholders would tend to imply dissatisfaction on the part of the shareholders.
<quote>Their protests are starting to turn violent, and their rhetoric has turned to the extremes. </quote>
Dear Big John,
These 'targeted disruptions' may be the result of FBI dirty tricks.
It isn't the first time the FBI has stepped into that cesspool:
https://en.wikipedia.org/wiki/COINTELPRO
WHY??????
It does not increase shareholder value!!!!!!
Do you HONESTLY expect the C suite slugs to give up their bonuses so IT peons can be trained, and bought off by a competitor.
C-suite philosophy: "Let the IT peons pay for their own training. I don't want it coming out of my bonus!!!"
<quoteSo now the situation will be that the EPA might for example (in the future) find that a water supply has been polluted with harmful chemicals - but if the Trump admin says "nope" then they can't publicly report their findings.</quote>
Mean like this:
http://www.cnn.com/2007/US/06/12/toxic.tapwater/
Note that this article reports that the contamination was discovered in 1982, and the date of the article is 2007.
<quote>
A Day In The Life Of A Nuclear Reactor To Control - In 1 Second Intervals
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Reactor: "I'm fine."
Control: "Acknowledged"
Control: "Shut down the entire cooling system."
Reactor: "You want me to do what?"
Control: "Instruction repeated. Shut down the entire cooling system."
Reactor: "I can't do that Dave!"
Control: "Instruction repeated. Shut down the entire cooling system."
Reactor:"What The Fuck!!! Are You crazy?"
Control: "Instruction repeated. Shut down the entire cooling system NOW!!!!!"
Reactor: "SHIT!!!! Complying, shutting down pump system now."
Control: "It is about fucking time. Don't EVER make me repeat an instruction 3 times, AGAIN!!!"
</quote>
FTFY!
I have a long time friend that recently inherited the management of a 2000+ unit apartment complex, built back in the 1980's. It has seen little 'love' (a quaint real estate term) since it was built, and it has slowly deteriorated due to neglect by the increased shareholder value types that have previously owned/managed it.
Their buildings are in need of a serious makeover, and he wonders IF the recent purchasers (his employer) are going to invest in the property, or, like the others, continue to milk that cash cow.
In terms of getting higher rents, he is up against much newer, and better maintained properties, who can command the additional rent.
While cable internet IS available at the property edge, trenching it to the interior buildings is expensive because everything on that site is underground. One of the deficiencies is the complex's OLD MATV system, which has been damaged by careless workers over the past three decades, and suffers from all kinds of problems, and most likely could not be adapted to run cable TV.
He has a list of proposed improvements to the property, but, he is almost certain that the exchange between himself, and his bosses will be along the lines of:
Him: "Here are the proposed improvements to the complex that I feel are needed to better position ourselves against our competitors."
Boss: "How much will it cost?"
Him: "It will cost $X."
Boss: "We can't afford that, there is no ROI in increasing our CAPEX. You will have to make do without, (sound of Boss striking out more than 3/4 of the items on the list) these."
Him: "Then it is not worth the effort." (saying to himself - 'Better find a new job, pronto'!)
<quote>"Exchange certain debt of the Company (including debt currently held by Cyrus) for equity interests in Sphere or such newly-formed subsidiaries,"</quote>
has both an upside and downside.
The downside, as shareholder you are lower on the asset distribution list in the event the company goes bankrupt (lenders, especially secured ones are higher up the 'totem pole').
The upside, you become a shareholder, and IF those are voting shares, you get a seat at the table determining the composition of the BoD, and final approval of executive compensation arrangements. IF you do split up the company as mentioned, you might get 'first dibbs' at the more 'juicy' parts of that corporate pie as you perform the debt to equity trade. No question that the legal accountants would be hard at work minimizing any tax consequences.
At this (in)famous employer called WROK PALCE Inc., the Boss slave driver in charge named Jim screams at his employees (fondly referred to as 'lakkeys') that he doesn't """pay""" them to eat lunch, and that they should get their slacking asses back to WROK. Guess who wants to put a few pounds of Semtex in HIS Christmas stocking???
You seem to have overlooked one simple item: the victims of these criminal acts were located in the USofA.
These crims thought that because they never set foot inside the USofA, they were immune to prosecution. There are treaties that allow for such extradition.
<quote>Someone needs to sit the Aberdeenshire business owner down and explain to him that the F-35 (and that stupid destroyer) are not for fighting, they're for providing jobs in the right people's electorates squandering $Billions of tax revenue that could be used to improve infrastructure needs; but end up in the hands of defense contractors due to Congressional interference.</quote>
There!!!
FTFY!!!
Remember your history boys and girls; back during those dark days of World War 2, the necessity to Arm America to defend the free world against fascism was seen as a Gravy Train by companies that undertook that task. When the war ended, it would appear that a peace dividend would curtail such massive spending. Right???
But, NOOOOOOO! We had The Cold War, our escapades in Korea and VietNam, and elsewhere. We had endless sessions of poke and counterpoke with the Soviets. And $Billions were spent. Now, with the past 25 years under our 'belt', it is apparent that continual warfare in the Middle East is going to consume more of any peace dividend. The R's can't ever been seen as weak, so they are so Goddammed willing to throw more and more $$$$ at defense contractors, lest it cost them elections.
Who the fuck cares, it just TAX PAYER MONEY, anyway!!!!
<quote>And it's a supreme irony that Windows 10 requires you to be online to use it and yet once again here we are watching it furiously stomping on its own cut off its dick. I have lost count at how many problems Microsoft's new-found love for 'agile' has spawned.</quote>
There, FTFY!!!
<quote>If computers were people we'd have convened at the Hauge by now and put Microsoft on trial for genocide.</quote> BUT, if that were to pass, who would face the firing squad??? Bill G? Ballmer? SatNad?
<quote>For Verizon, the sale has been expected for some time, as it has sought to shed much of its wireline business services and infrastructure in order to focus on its more profitable wireless phone and FiOS consumer broadband services.</quote>
Really??????
If THAT is the case, they WHY did Verizon flog off its FiOS plant to Frontier?
http://www.macnn.com/articles/15/09/03/deal.awaiting.state.regulatory.board.approvals.to.proceed.130252/
Living in Flori-duh, I recall Frontier's handling of the rollout all too well:
http://stopthecap.com/2016/04/04/frontier-takeover-verizon-landlinedslfios-texas-florida-causes-big-outages/
and
http://www.fiercetelecom.com/telecom/frontier-lost-40k-potential-customers-during-botched-verizon-cutover-mccarthy-says
Unfortunately for the former Verizon customers, the April Fool's Joke was on them.
<quote>If you allow companies to fire anyone with a criminal record, then you're effectively saying they should never work again. </quote>
You fail to understand the ramifications of this specific situation.
IIRTAC (if I read the article correctly), the candidate inquired IF having to pass a 'records check' was an integral aspect of being hired, he was told NO.
That did not absolve of his responsibility to disclose it, and, in the eyes of the employer, such a failure to disclose a criminal conviction offers insight to his honesty and integrity. It may also open him up to being blackmailed; which for people in IT, open up avenues for all kinds of mischief in a corporate setting. Without knowing exactly what the responsibilities and duties were; he could be interacting with the employer's customers systems and have access to sensitive data. Any risk manager would cringe at this prospect.
<quote>Just did a Google and found that the Sheriff himself is now being charged with contempt of a Federal court order, so might soon be enjoying a little camping out himself. (Or would that be at a Federal campsite?)</quote>
I would hope not!!!
I have a much better place for Sheriff Arpaio in the event he gets convicted - A Federal SuperMax prison. Drag that arrogant son of a bitch into the cell, and weld the fucking door shut. He can rot there until he finishes his entire sentence.
<quote>Or had the UI needlessly changed because of an update?
Most users see updating as something that breaks what works, adds crap they don't need nor want, and makes their device harder to use. Of course they're not going to run the updates.</quote>
Mozilla, I AM looking at YOU!!!!
Texas Attorney General Ken Paxton (R) (Oh, look at this: https://en.wikipedia.org/wiki/Ken_Paxton )
Arizona Attorney General Mark Brnovich (R)
Oklahoma Attorney General Scott Pruitt (R) (Oh, take a look at his Career as AG: https://en.wikipedia.org/wiki/Scott_Pruitt )
Nevada Attorney General Adam Paul Laxalt
Could the motivations be political in making???
Enquiring minds want to know.
<quote>(That said, I wish power cables weren't all black, having different dark colors would make sorting through my surge protectors at home easier.)</quote>
Then I guess that you have never heard of ty-wraps or colored electrical tape?
<quote>Not so sure about that. The potential losses in the resulting court case could offset the savings by several orders of magnitude.</quote>
And one such mechanism to get the manufacturers interested in implementing safety protocols would be a multi-Billion dollar "hit" (lawsuit).
Recently, I noticed legal advertising for patients who take certain blood thinners who suffered varied injuries as a result of the software in a PT-INR1 testing machine producing the wrong results. Just the ticket to prod manufacturers....
1 In layman's terms: the time for your blood to clot.
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