In title only would they move corp., like they kept a corp presence in Chicago, Atlanta, and Pa..
The fool that said sell and pay off debt. Wtf you smoking, it’s not worth that much and companies are knocking down the door to move to Hickory when there are plenty of empty office space available now.
This company is fked. Customers are bend them over on pricing or go elsewhere and easily by what is needed.
Not in a million years. It's the "good 'ol boy network". They have no clue how to manage and every day I have face palm moments on decisions and hires. It's a lot of fud to protect and validate their jobs. They constantly spin things to make themselves look good instead of addressing root cause issues.
@chbe+1eySsT6D
Why not just do a classic sale-and-leaseback of their Hickory building? It frees up the same amount of cash. If they want a smaller space, they could always sublet a portion of the Hickory building.
A smaller building in Dallas is probably not much cheaper to lease.
Moving to Dallas means for a lot of movers. Some of the people you want to move end up staying behind. If you're in the cable-making and selling business, there are other divisional HQ opportunities nearby (Corning, Prysmian) and you don't have to uproot your family.
CLT airport probably doesn't take any more time to reach from Hickory than DFW from many parts of Dallas
Is it just that the CEO personally prefers Dallas to a small NC town?
They would sell the HQ for cash and use that to cut debt. Then move to a smaller space that they lease, not buy. That’s how shareholders would benefit.
What's the benefit to the shareholders or anybody else in picking up the Hickory HQ and moving it to Dallas? That sounds expensive and disruptive.
I have to assist with buy and lease offer solicitations for the Hickory building. There is a lot of interest and we are close with one. CommScope is really going lean, it’s going to be a really good year for shareholders but it is going yo suck to work here unless you are an overpaid yes man but my VP told me he’s worried because he’s been told they are trying to reduce exec costs by 30% because of all the redundancy. Apparently they are able to stick a nice chunk of debt on home networks. I didn’t think they’d be able to do it but they are finalizing changes to their outstanding leans. Truly amazing what Chuck has been able to do to create shareholder value but god I need to get out of this place. It’s going to get ugly esp for HN. There is no confidence that it’ll last a year.
Strong rumor floating that Hickory Corporate office will be eliminated and moved to Dallas area where Treadway lives.
Significant downsizing of Corporate staff as well. Any shred of truth to this?
Sure, but
Yeah the corporate controller and her gang of marry discriminating women need to go. Any male or POC competition is not tolerated and they protect their own with promos, bonuses and pay raises.
I know off 2 people in the prod line finance that left and return bc they actually had to work at the other job. They were royal kiss a$$ and depended on relationships for a cushy job and got use to doing nothing esp past 5. Now they are way overpaid do nothings in mgmt.
Absolutely not. The benefit package is lacking compared to other companies in similar industries specifically the health insurance, and I have no faith in the long term viability of the company with its debt load. Upper management was not great and I felt the company lacked direction.
I left for a 25% pay bump, better benefits, better PTO, a bonus that actually pays out.
I miss the people I used to work with, but not the company at all.
NO.
A former coworker is trying to return and I can't imagine why. If I got out, I'd never want to return. Now I wonder if I'm in the minority.