That’s probably all you need to know.
https://www.sec.gov/Archives/edgar/data/1586860/000120919119058425/xslF345X03/doc4.xml
9 replies (most recent on top)
Old CFO fired several star ex-Honeywell finance executives, mis-communicates guidance resulting in lawsuits and then wipes out $45 million of Rezi market cap when he sells out his shares. Nice work!
Look at mad money review of the spinoffs....
Garett issue is that it is totally at the mercy of the auto industry as it gears to change to electric cars.... so issue is technology future outlook
But rezi it says clearly it is a management issue to turn this around - which keeps failing because you keep the same people... note that Garett has NO lawsuits against them for mismanagement. Rezidesi has at least 16
lawsuits tied to management issues ... what does that tell you? Note the stock of HON didn’t peep today
1gix,
Not same situation... Garett has good engineering and good products and the liability dates from bendix technologies which is related to Garett ... Garett would not be soaring if they cancel the couple mills per year they give Honeywell .... as for Desideo even if they did not have to pay the couple of mills, they still have c-appy products and c-appy management. Grasping at straws for issues related to GV thermostat factories that polluted the ground....
Garrett just filed a lawsuit against Honeywell due to the environmental burden they were left with as a spin-off. Time for Resideo to do the same?
https://www.businesswire.com/news/home/20191202005502/en/Garrett-Motion-Files-Lawsuit-Honeywell-Unusual-Asbestos
1xtp - Yes he did but to your point so did (and do) others. This is one of the reasons EVERYONE needs to sign up for those lawsuits. Not only highlight the creative accounting but also the creative NPI that doesnt actually deliver anything. I did and got 3 call backs from legal teams. Get on board and get at least something before they close the doors. Why should Moobs and his team of human Flesh lights all get the gravy.
He treated people very poorly. Shouldn't have been permitted by HR. There are others doing the same that are still here.
lbn
Wasn’t given 30 days those are his personal stock “common stock”
Stick will stay around current price until lawsuits gain more traction then value will plummet again
No but if he had ANY faith at all in this company from an INVESTOR point of view he would have held on to them if he believed the stock was going up. Since hes no longer with the company this tells me that as an INVESTOR he has lost faith in this joke of a company.
So what would I expect? Just like every other investor, if he thought it was going to do well he would have hung on to it.....this tells me he thinks its going to take an even bigger nose dive...especially in light of the fact hes probably already been interviewed by multiple law teams including Residues and he knows those lawsuits arent going to end well for this company. He knows we dont stand a chance against the Googles and amazons and now with the lawsuits its all over but the cryin'
He doesn’t work there anymore. What did you expect? Most likely, he was given 30 days to exercise any eligible contracts.