Hearing rumors that Resideo executive leadership and the Board is preparing for the potential for company restructuring under bankruptcy.
Also hearing that leadership are being in given $$$ incentives for RIFing people.
Geez...
7 replies (most recent on top)
I believe that bankruptcy protection is inevitable and I blame our esteemed C.O.B! I believe HW handpicked him because as the negotiation was being done to lay out the terms of the spin, they knew that he had made million$ at HW and still had stock and would be agreeable to terms that were favorable to HW. Then he picked a CEO from his neighborhood in the bay area and brought in NdM as well as bringing over some senior leaders that had destroyed the business prior to the spin and gave them all keys to the kingdom. Hopefully he is forced to pay a price through the lawsuits because he is personally responsible for watching a business that he helped build be destroyed by the incompetence that he helped put in place at resideo. There is plenty of blame to go around, but I think ultimately the buck stops with him!!
Liability to Hon, they can’t get out of. EPA superfund... good luck with that. If Rezi goes down the government will help themselves.
Same as the lawsuits. Already a minimum of $5Bn is been planned.
We most likely will lose the lawsuits as the evidence of malfeasance is there. But hey IT is loosing critical evidence so maybe that’s good? (Note: It isn’t ... becomes worse)
The burden is related to the EPA pollution done by the factories used to make devices -especially in GV and East Germany . You can’t get out of that. Would have been cool if we could have moved out and not taken the liability that was clearly ours for decades... but hey ...we can dream no?
Btw if they are really thinking about that it means they know legally they cannot push it back against Hon
Super fake news
I don't believe it's fake news. I think what's driving this is the burden that HW put on the company when they spun us off, and the board is exploring ways to get our from under that.
:p fake news move on
Troll alert ...
That would take at least a year and means that there are trying to screw creditors...
With the revenue rezi claim sand soon storm revenue, it’s unlikely this may be approved....
And it’s not about lay-off it’s about more $ to those execs and telling the lawsuits to F-U