#waste

Was in a call yesterday where a vp said "we are locked in a room in sunbury, trying to figure out and setup the new org and reporting lines" for the capital dev team. Seems like we are "reinventing" the wheel again. Incredible waste of time and resources, whilst some leaders egos (and pockets) get boosted. So fatiguing.

So many layers, so much waste.

We have, by far, the worst recursive management hierarchy in the entire industry.

And they know it.

since 2020, the market cap of TMO today is basically the same as Verizon...what a waste of money ($50+) and time (5+ years). Sad, sad, sad...

They spent 1000's of Dollars installing big screen TV's over all the departments in the Process Center to televise production information, but could never get it to work the way they wanted .... now the TV's are sitting idle and they have spent more money to hang dry erase boards in all departments and gone back to hand writing everything like we're back in the 80's!!

And we wonder why the state of California's next-generation 911 system is a mess and wasted $500 million. This is the company they contracted, which is amazing that anyone would give them a contract of this size.

All I have to say is - thank you for the free hour on this beautiful spring day. What a joke and useless line up of BS from KO and clowns.

BD got another new platform to waste money on. Hope, TGS id--ts will be kept out of it if we are serious about any meaningful value from that investment.

Someone explain to me why we seem to have the money to travel the IT leaders in every region around so they can glad-hand and throw parties for their leadership cronies, when they don’t make us revenue. If anything they cost us more and more every day.

Except a few gems (20%), ISS is a majority DEI Swamp (80%) - that gets nothing done, as they have no clue except to CHECK Boxes. They just focus on superficial compliance rather than meaningful action, as part of process checks (same questions asked by many different ISS Stakeholders). A total waster of $ spend on ISS.

Another Diamond Club trip that wasted money. San Diego with Train playing,
Just the band could cost up to $750k and the people attending and their plus 1.
Waste.
A person must be picked each year and of course upper management gets to go.
Could have been spent otherwise.

He’s so obsessed, and wasting millions

We had a coffee chat with the director of our department, and they mentioned that most of the LCS projects are likely to be either discontinued or significantly scaled down. At the same time, there’s another initiative emerging informally around DAC using Amines. The person leading this has no knowledge of fundamentals. Another waste of resources.

my opinion, complete waste of time. Department trying to justify their wasted "AI" investment.

BB seems to lose money by tearing things down to rebuild them. In 2021, he bought a $7M house on a Florida golf course and demolished it, building a new multi-million dollar home in its place. In the meantime, he bought a $4.1M condo to live in, which he dropped a ton of money into renovating, and sold it for $3.1M to move into his newly built home. Wasting money tearing things down - is what he's doing to 3M?

Apparently Intel is not following high NA anymore. What a waste of 300m$ equipments

Why do we even have loss prevention in our stores? They can’t apprehend anyone anymore. They don’t actually do anything except walk around the store and chat with the sales associates. Honestly, it feels like a complete waste of money.

If Dan's plan is for AI to take over, I hope it is nothing compared to the current use of AI. Every time I call or chat I have to go through AI. By the time I get to a human, I am pi---d off because the way they have AI set up is garbage, useless and a waste of time. Why do we purposely put barriers in place to get something resolved? No wonder customers are upset.

Maybe for the cost savings we get a new CEO that is at the Engine? Would save over 30 million a year. Or let AI do the ELT job, cant be any worse that what we have now. We are wasting millions on our ELT now!

The call system routes Everything to sales. Customers cancel, employees quit. Nobody cares. Giant waste of time and money.

Thank you HMP

Is dead.

Half a billion down the toilet.

Are they laying off?

I’m seeing a lot of new employees this week. Or are they just wasting more money to pay people to learn then let them go?

Even if you are safe, be sure and pack your stuff. As you know, the executives love to restack the offices and pay movers to move everyone’s crates. It’s a timeless tradition: Musical offices. it’s immensely satisfying and is a fun way to waste money.

I remember one year my office was moved 4 times: once for new office furniture, once for bathroom remodeling, once again after remodeling was complete, and finally again for the Concho merger. It got to where I quit unpacking and just kept all my stuff in small boxes I could easily sit inside the crates - saved time…

You might also want to invest is Scott Rice stock - they’ll be getting plenty of business from us next year.

I am sure other posters will share many examples, and yet the reader will still not be able to grasp the extent of incompetence they are gifted with and waste they lay all around.

Any one have the scoop on why there are hundreds and hundreds of locomotives stored at Donkey Creek Wyoming and Guernsey Wyoming? Why don't they refurbish them, sell them off to another country's railroad, or scrap them out? Seems like the biggest waste i've ever seen!

How in the world is ATC still open? It is nothing but a financial burden in a time when we are trying to cut money from everything. How much money could be saved by shutting this useless money put down.

Nothing of use has come from this place, except for expensive lunches and events. People bi--h about us being remote but don't care that this place is draining money from Nike.

What’s the most ridiculous examples of wasteful spending you’ve seen?

Drop your wildest stories of money being lit on fire. No names, just chaos.

There needs to be an area on chemisphere, to make recommendations for cost savings. Some examples are HR, AI is here and knows the answer and policy to quote instantly. I have had several HR questions go unanswered bc they don't know, pretty frustrating. The new HR person at GTP says everything that we ask is another department, so what's your job? The second is fire specialist, why are they needed when you have a trained and certified fire team on site 24 7? I can see a chief and an asst but not a whole group of specialist. There are about 5 or 6 superintendents in the EHS group and 3 or 4 managers, same for technical group. None have more than 3 or 4 people reporting to them. Half of them refer to their previous jobs for reference and not cpchem policy when asked a question. Shift superintendents, another waste, a glorified night and weekend maintenance ticket inputs and tracker. Some will say they are incident scene commanders when something bad happens, well I say you have 3 Shift supervisors that are 24 7 that fill the same role, it's not hard and they are only in charge until management gets there which will be very quick once they make the call. There are multiple "specialist" in operations and maintenance that seem to just hang out and give opinions when asked, not necessarily good or smart opinons most of time. There are about 100 plus true project people on site su-king up space and money, why? We are damn near finished and most of stuff is handed off already. To many redundant people, everywhere not just GTP. Go to Cedar and it's the same thing. I was there for years and I would see people and ask myself, what does that person do? I ever only seen them drinking coffee, lunch or walking around aimlessly. But let's layoff people that actually work and have purpose and let's outsource jobs to foreign countries.

Flying and doing nothing again? another wasteful business trip just for them to enjoy pampering on business classes and fine dining at the sites.

If I had 10 cents for every dollar wasted over the past 15 years, I'd be wealthy. From IT solutions and overstaffing to training and firing thousands of nurses, plus failed EMRs and workforce management, the waste is staggering. Worse, those responsible were paid handsomely for poor results and received golden parachutes when their failures became clear.

How many millions of dollars, including stock options to ex-Google/Lyft resources, were wasted on Atelio! Complete waste with nothing to show for two plus years. CEO/BoD, of course, were not impacted at all for their decisions and waste.

It doesn’t get more ridiculous: while the ELT is carrying out further layoffs, nearly 20,000 salespeople and useless middle managers are being flown to Vegas to party. How is that compatible with the layoffs and the H1B scam? GSX must cost over 100 billion USD with those private concerts. A slap in the face for all customers, employees, and partners who pay a lot but get less service .. or get fired.

What a waste, especially Emea. They don’t solve issues, just whine to global support to fix small things they think are causing the sky to fall. No big picture perspective and too much bloat in leadership. Zero value unless you consider getting your day bummed with their snooty, bi--hy attitude and low IQ threats to escalate their single minded woes to leadership enjoyable.

I have been thinking about writing this post for a while but hoped that by now some things would have changed for the better, but they have not. I have been in the industry for years, my entire career actually which spans over 2 decades. I have worked for small start ups and been with MDT for half of my career now. When I came to MDT we were still at the top in regards to quality and product innovation. Unfortunately around that same time Omar Ishrak came on the scene and it has been nothing but downhill ever since. Omar brought with him the ideas generated by GE and his mentor, Jack Welch. Omar also put all his chips on Hillary winning and Corp taxes stating high in the US, he was dead wrong on both. If you want to look at the future of MDT just look at the last 2 decades of GE.

Omar took all of the profits and plowed them into earnings not into R and D, Medtronic is now faced with the hangover of this gluttonous endeavor. MDT and Geoff Martha have decided that it’s time to be a growth company again. Again, our leaders are wrong…we are far from a growth company and in some divisions we are actually looking at a decade of decline both in surgical reimbursements and in surgical volumes.

MDT has reduced clinical support, outsourced customer service to such places as India and Costa Rica, manufacturing to 3rd world countries, and payroll to a 3rd party. We have more FDA federal corrective actions than the next largest 3 med device companies combined, take a look at the 2 articles that the Minneapolis Star Tribune did towards the end of 2022. The Dominican experiment has officially failed Geoff, you know it, the board knows it, and according to our stock price the street knows it.

If you are thinking that MDT is anything like it was even 6-7 years ago, it is not. If you are a young person who is thinking about getting into Med Device, I would not. This industry in general is falling apart due to horrific leadership among the big 4 and a broken health care system that will ultimately end in Medicare for all.

Geoff Martha is a truly horrible leader. I guess it’s not his fault, it’s seems like he has been told his whole life how good he is at hockey and how handsome he looks in his Christmas sport jackets. Unfortunately we need real men and women of industry to correct the decisions made by a few that have affected the many.

The benefits for those coming in today are no better than what a manager at a local Kroger gets and in some cases worse. Our car reimbursement is laughable, $450/mo plus a pittance per mile is so bad that even Motus will tell you we are in the bottom quartile for what they pay out to other companies field personnel. If you don’t believe me please call Motus yourself, I did and I was shocked when the person laughed when he looked at what we get reimbursed.

Pensions, yeah those ended a while back for any new employees. Last year our 401k match was .66 on the dollar, like I said Kroger managers get more. Healthcare, well, not great either. We have been driven to mediocrity.

Obviously I am looking to leave MDT as soon as possible and hope that all of the talented folks I work with can do the same. We are in very dark times here, and the light that we are seeing is not the light at the end of the tunnel but the light from a train getting ready to run us over.

Oh and Intersect is truly horrible. Thanks Brett Wall you egotistical fu-k for flushing over a billion down for this trash.