Stock price down 36% under MK, and up only 29% since GB took over in Nov 2017. I’d ask if the Board is upset with SLT, but I know it’s stacked with SLT buddies. Clearly, SLT direction, strategy, and priorities (AI, health of humanity, DEI, Food as Medicine, reorganizations, RIFs, offshoring, etc) ain’t feeding the bulldog.
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Expect another drop next week when United Health announces their earnings.
@ky Leonaed’s (WLP) AIP program was much better than Larry’s. The merged company took the lesser of the two. Wrong guy became CEO in my opinion.
Perhaps the biggest tell in the past year before recent earnings call was no insider purchases and the CFO being a seller in April. He should know the financial trajectory, right?
The stock price is breaking through support levels like a lead ballon!
@jr You are 100% correct about Larry Glasscock. He was the bestCEO we ever had. He put in AIP and when the board tried to remove it, he said he would leave so they left it in place. He believed the company’s success was the result of the efforts of all of us. What a change to today….
Sold all my stock last year - my financial advisor shared that all his clients were doing the same thing. GB will continue her usual trading, get her massive salary and bonus, sit on multiple client boards and enjoy the Hunger Games environment she has created. I have never seen or read so much stress, anxiety, depression from a company of associates in all my years. They can all read these posts - they do not care, they never cared, and never will. Glasscock was the last one who did.
GB's compensation is $20 million per year. $2 million in stock is nothing to her. She spends more on Gucci belts.
So should we anticipate that massive RIF coming on soon to compensate for these numbers?
@fm @fj a token gesture to create the impression that SLT is confident in future share price growth. An investment that equals 1% of her net worth is hardly a strong endorsement. Like everything else with SLT - all show, no substance.
She must know she is going to get fired and knows once that happens the company will do better and the stock will rise.
@fj a token gesture to create the impression that SLT is confident in future share price growth. An investment that equals 1% of her net worth is hardly a strong endorsement. Like everything else with SLT - all show, no substance.
Well GB brought $2.4M worth of stock today. Hmmm, what’s to come?
$277.09 at 4:00 EST.
My AI stock is up 40%
MK said yesterday that the % decline in share price aligned with the % decline in our annual EPS they announced.
Well, buddy, we’re well below that now - anything to say? Nahhh, I didn’t think so.
@f2 same here lol
Is it bad i’m refreshing the stock price every few mins to see how much it may keep dropping??! It’s like a car crash I can’t look away from…
- + @ 1:15 pm est
@ed 282.84 12:07 EST
In April, they sent an email promoting the employee stock purchase plan. Clearly, at that point, they knew the stock had a greater chance of underperforming vs overperforming, and they still promoted it. Seems so wrong to take advantage of employees like this, I’m sure many signed up and have lost money
MK answers stock question like a child caught doing something wrong, a lot of words no substance.
It's crazy how much the stock has dropped. Lots of investors are not happy and will demand change. I'm so glad I sold my RSUs, PSUs, and options at $450 earlier this year.
Update: $301.50 after hours. Dead cat bounce tomorrow?
@ap Curious if anyone has a number for how many lost due to RTO. Anyone know?
@ap But that is what they wanted. So it’s a win for these clowns. They don’t have the expense of sup pay.
@ah look at Pete’s tan though 😍He must have had a awesome vacay in the tropics! Lots of time on the golf course! You go Pete!
@ak That’s because they are BLEEDING employees. They lost more than anticipated with RTO.
Their noses are growing...🤥
What is the impact on our members by suddenly having to spend hours in our cars driving into the office instead of being productive remotely?
Does anyone remember a few townhalls ago when Gail made the comment that as employees 'we need to do better' and that we were part of the reason outlook was diminishing? The tune seems to have changed quite a bit this time around.
@ah What Felica is saying is we want to hear if more ways to rif people. All these stories make me think about is how many people will end up losing their jobs. They don’t come to this site. If they did they would know nobody cares about their job anymore
Pete is so full of sh-t. This company doesn’t listen at all. The surveys are a joke. This is pathetic. Felica su-ks too!
Investing in care management is code for getting in the way of the care your doctor's prescribe
I don’t like this talk of AIP. I think no matter what it is gonna su-k again even after they gut staff across the board. When is the next big rif date?
Town hall … just makes me sick! MK just said that SLT is effing up and that Gail needs to go!
This call is the precursor to let us know, we’re losing money, your AIP will be even worse next year, and we should expect more layoffs.
The Great Oz (aka Gail) sure isn’t giving up her bonus and The Vest Man (aka Mark) needs more vests.
This CFO is the same guy who reaffirmed our numbers as strong at an investor conference earlier this year. Now he’s backtracking on it all. Who all thought it would be a good idea to hire this muppet?
More RIffs to come for sure!
@a7 and I believe this guy, Mark, is an actuary!
There is a significant actuarial and underwriting problem at Elevance Health.