And we still have constant layoff and reorg intimidating employees. Capitalism is definitely real at WF.
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The stock market just said "oh yeah? hold my beer and watch this..." $45? Not for long.
Post ID: @sbf+1arrp0mC
I would have replaced the word GREAT with SNAKE.
That does make him a great CEO.
You are a bunch of dead wood.
Post ID: @ksl+1arrp0mC
Don’t be so hard on yourself.
@sbf+1arrp0mC – also he does not care about me his employee. So wrong and so hurtful
These decisions likely have little bearing on each other. In the boardroom they aren't debating whether they should take a chunk of cash and use it to maintain the current sized work force or use it to buy back shares. They are going to reduce the size of the work force either way. Whether buying back shares is the optimal use of company resources is certainly debatable though. There's arguments on both sides of that issue.
Charlie is such a GREAT CEO that he places more importance on spending money to buy back company stock than taking care of his own employees. What a GREAT CEO! How many employees will have to lose their jobs so that our GREAT CEO has enough money to buy back company stock and line his own pockets? What an ENGAGING ETHICAL RESPONSIBLE COURAGEOUS EFFECTIVE MODEST COLLABORATIVE CEO!
I guess we could say, at least, he is decisive. He has decided that someone’s going to win and someone’s going to lose, and he wants to make sure he wins no matter who else loses.
W–w–w won’t someone think of the poor money lenders and used car salesmen? :(
@hhv speak for yourself or your LOB. My group isn't "ripping off" anyone.
Yes, it's a race to the bottom. Applauding the layoffs and selloffs for efficiency from a shareholder perspective is one thing, but cheering on doing more with less in an increasingly toxic environment at the place you work for is beyond re--rded. It's not even like we're doing some valiant service for the public good; oh great, we're more now efficient at ripping off customers. Hooray.
Wall street doesn't always react positively to layoffs. Sears? I think a more accurate statement would be that Wall St reacts negatively to inefficiency.
It always amazes me that Wall Street reacts positively to layoffs. Then again, it probably shouldn’t. The elites always rig the game against the common man.
Love it.
Let's not forget, WF was permitted to start buying-back shares. That presses the price up as well.
Our problems aren't caused by capitalism necessarily, our competitors function within the same system. Our struggle is a combination of poor decisions (the negative feedback for which is actually a good part of Capitalism) and shifts in market demand. Stock price going up is based on inflation and the market's expectation that we will resolve some issues and be more profitable in the future as a result. If we can do that, the stock price will improve. If we can't, it'll drop. If you think things are a mess with these sources of negative feedback influencing the company, you should see what it's like without them. Basically infinity bad decisions with no consequences, which begets even more bad decisions. We should want our organization to be held accountable, we'll be a better company in the long run.