Pretty clear Bill only cares about share price.
He gets a question about ICE and he just waffles and rambles about how we need to be calm.
He gets a question about culture and he barfs out a word salad about safety.
21 replies (most recent on top)
@cg Yes internal and external comms merged and "redundant" roles were eliminated. Many retirement notices are also happening, but not 100% voluntarily.
BB thinks that when Amy Kloubacher becomes the Gov. of MN, things will deescalate in MN since she is considered a moderate while apparently Waltz is a far left and hence is the problem !
As if the lunatic in WH cares about who the Gov. is.
Shows a lot about how old white men with $$ in their pockets think politically in 3M.
@gh Business school said focus on the customer….not Wallstreet.
Gotta like the people that think there’s another path. That we can sing songs around the campfire and make 3M a better place.
It’s beyond that now. 3M will not be the same. Get over it, and let’s get on with the next chapter. If you have 3M shares you should be pushing us to do everything we can to grow the price. It’s how the world works. If you are publicly traded you appease the shareholders first. It’s not new. It’s not something that Bill invented yesterday. It’s what we should have been doing for decades. Inge was the only one that could see that. Buckley a little bit as well. Roman was a fall guy for PFAS and was rewarded for it.
Go get a hug from somewhere else. It’s time to lift this company up so we can all get paid.
fully agree with your thoughts. It's surprising that otherwise smart people can be so d-mb as to not understand this.
@OP For a CEO that only cares about share price, it's kind of ironic that during BB's earnings call the share price plunged. All that BS for nothing.
it has been said before and yet nobody listens, when you take the little things that mean the world to the workers like service dinner and christmas incentives and everyday wins points and social club funds and spend $2.2 billion on share buybacks you have a massive problem, bb is off the scale on his knowledge of looking after the workers, the company will keep shrinking
@ce if there’s one issue BB can attempt to fix, rid Smurphy!
@bf - No, late 30s who understands the game. Once the original founder leaves and shareholders take over the only thing that matters is making a fat profit. I'm sure you still believe a nice smile and firm handshake will get you the job.
Just retire already boomer.
@cg She was canned last week.
Why was there a new person asking questions to BB? What happened to the lady with dark hair that has always been with BB at these meetings? Did she get laid off? New guy’s title is External Communications, but this was an internal meeting.
@ce Let's just clean house of all top leadership, starting with the ISRC. They've got the wrong vision and don't know how to lead. We need to grow people internally.
If ICE is on campus I hope they deport Mark Smurphy and his henchmen. The culture would improve tenfold.
Company and culture went out with that demi-god of business-Jack Welch. There are still businesses that are run well that do care about their employees. Not many on that Fortune 500 list. Maybe one day companies will once again care about the people who make the wheels turn and remember it is the workers that bring value to a company. Henry Ford couldn't make cars all by himself. These CEOs don't know jack about what it takes to keep things going. Just look at the Solventum Fiasco.
@ab Spoken like someone who’s never experienced a good company with an actual culture. I’m guessing you’re one of those late 20s red pilled alpha bros. I’m sure you’re a great coworker and everyone really likes you - despite your aversion to friends.
Was there any discussion around AIP performance for 2025? I would have thought that this would be disclosed after the earnings call. Any insider views?
Why do people care about "culture" at their workplace? You're an employee at a business that exists to make money. You give your employer time, in return they give you money. It's a business transaction. I'm not here to make friends, I don't care about your kids hockey team, and I certainly don't care about 3M's image. 3M and I'd argue any Fortune 500 company doesn't care about their employees. If you go looking for "culture" you'll end up empty handed.
BB made the "bottom 10" list (most despised CEOs) in his last gig. Something like 35 percent approval. The only reason his score is higher on employee focused web sites these days is he's probably paying some company to have people post 5 stars and wonderful comments about him.
3M culture was a strategic asset until Mighty Mack brought in the GE toxic culture. BB is doing his best to be a GE kind of guy but the recent slowdown in stock price rise means he needs to get moving again on layoffs. Sorry but some of the 2s are going to get RIFed so BB can get a stock price bump again.
If you want to know how 3M is doing, just watch Mad Money!
Loved the question about culture and how Bill replied. Very clear that culture doesn't matter. Back in the day people loved 3M for the values, the culture and the perks. It's all been stripped down. No more rewards, no spending, no perks, values are in the toilet - as long as money is coming in, it feels like no one cares.
You want culture, give us a reason to rally more than the share price.
Haha, I was floored when that guy talked about how we didn't have culture anymore.
He's 100% right, and BB could only talk about the investor day.