Throughout this whole mess I have yet to hear a single executive take any responsibility for how we got here. It’s all market conditions. Imagine the boost to morale we could have if just one executive would admit to making a mistake, if just one executive would offer a sincere apology for their part in all this.
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Accountability has been missing for +10yrs, big deals being done and people promoted to the next CL and moved up. Then the 'hair' on the deal is so long because the deal was negotiated / closed by someone inexperienced with no skin in the game to have to make it worker, or build it. The promoted 'deal maker' is like a super spreader and goes on to do more deals with no accountability to the issues. If you speak-up at EM counter to the 'given' opinion you are deemed a non-player.
The costs to EM are 3x if the deal was done correctly to re-engineer, build, operate or back-track from the contract. Costing us overhead and resources as we spin our wheels and fall behind on technology, data management and the next deal, because we are too slow to market because we only listen from within. Now the bad deals & bad management are catching-up to one another because all the good +20yr old deals and +20yr managers that EM has been riding high on for the past 15+ yrs are closing up.
There are some really good leaders among us at EM, but not sure they will be able to stem the tide before it's too late. Take care everyone
@blw - you know that it would be the same old excuse: "it was the right decision at the time". Managers cover for each other, all the way up the line.
If DW was the head coach for a professional sports team, would he be allowed to remain in his position and tinker with the fate of the team members?
That DW doesn’t resign shows you he has no shame.
And that the Board doesn’t fire him shows you they have no oversight.
It’s a dereliction of fiduciary duty all around.
At minimum they should claw back his multimillion dollar raise, and demand resignations from senior executives.
What performance indicators do these clowns look at?
Moving a tree for $1M+ versus planting a forest.
Spouses/family are not permitted to use company aircraft by themselves.
Accountability can start by not allowing CEO DW to have a board position.
That will never happen! They pay them buckets of money after they screw up and then they leave . we are left to clean up there mess ever single time! They always get paid while we are told there is no money for anything. I am over it, no more giving 110% they don’t deserve my dedication anymore.
I just posted something similar about how the executives have abused their benefits instead of helping the employees. I can think of being exhausted flying around working on projects to help save the company money only to find out that one of the executives wives had one of the company jets for fun... she could have paid for a commercial plane ticket while our team could have use the company jet. we could have flow on the same flight and worked some plans... but no we had to fly on 4 different flights getting in to our meeting place at all different times (even though we departed from the same city). I think they need to block company jet usage from wives, kids, etc. Those planes could be utilized better. We are all shareholders, I think we need to vote on blocking family fun usage of company assets. We can use the assets better.
Ask rex about his thoughts on the XTO purchase.
Executives are employees too. What can they do? But politics and continue as expats! There are a lot in Asia!
This is so true. How is it that the company increased its debt by 60% since DW became the CEO and yet he is not taking responsibility.