Any good acquisitions being looked at for growth in sales and gathering new innovations? For the right price Solventum could be a good value.
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I recall back when I started with Mother Mining (in the early '90's) that the people nearing retirement seemed jaded. I thought, "what a bunch of sourpusses". After awhile I realized that these people were hired during the 3M golden years (1945~1965) and saw everything turn brown. By the time I retired from the company I understood their attitudes. In the years leading up to my retirement I questioned why I stayed. Perhaps it was the promise of a good pension (hint: it wasn't worth it) or that maybe I'd make more money by staying and using my expertise (hint: it didn't pay to stay). What I observed in my career was a continual and gradual squeezing of all the things I thought were valuable (salary, benefits, perks, etc.). I kept thinking if I work just a bit harder it'll lead to that next promotion. The problem was the promotions were often delayed (sometimes due to business performance) and the benefits kept getting cut (T4s used to receive stock options, now even T5s don't get them). I ended up turning into a sourpuss in my last 10 years. I was never rated below "average" and had an above average performance rating just under once every 3 years (not stellar, but also not barely cutting it). I wish I could go back to my mid-career self and say get the F out! I honestly believe that those on Portfolio 3 (non-pension, non-sh-t 401(k) first offered under McNearney) have nothing to stay for at 3M. There are way better, more innovative companies, to work for than 3M. What is the last innovation that 3M offered to the global market? Command Strips? LCD Display Films? Outside management is hired to bean count in order to appease shareholders who want to see short term results at the expense of long term prosperity. There is no turning around the company and returning it to its glory days. Your best bet is to get that promotion by hopping to a new company or laterally moving to a truly innovative startup. It's risky and uncertain to move, but better than looking back in 35 years and saying why didn't I see that Mother Mining was near death.
@ad 100% this. Too bad for BB the "individual parts" are so entangled and burdened by delayed capex nobody wants to buy them.
@bs
Part of "The Plan"
Solventum could shed all debt to bankruptcy and 3M could then pick it up for a song.
BB is singularly focused on one thing: boost the share price at all costs. Oh yeah, and hire cronies for important SVP jobs.
Acquisitions spend money when BB want to spend money on share buybacks. At least the share price is up 2x from near the end of the Roman Empire. Compare that with the overpaid dolt running solventum stock sideways whilst making 2x what BB is getting.
Haven't you heard we're creating 1000 NPIs out of thin air? We don't need no stinking acquisitions.
We're done with the growth phase of business; now we're trying to pare down everything so that the parts are attractive to buyers.