BT started when Elliott got involved the first time. Don’t think that their involvement is going to be sunshine and roses. You’re going to get BT2.0.
Break off assets, cut jobs, slash costs.
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The balance sheet is a disaster. Fix that and Elliot leaves.
I don’t typically support the ELT, basically ever, but some of you all are completely off your rockers if you think Elliott is a good thing. They have gutted Southwest and ruined their company culture, they are wrecking Honeywell as we speak. Your job will not be safe, your wages will not increase, and you think the environment will be better under such decisions? Yeah right! Go read some news for once. Elliott doesn’t care about you or anyone else in this entire company. Of course they want to break off Midstream, it makes them money short term. They are not long term investors! No activist investor is. They’ll just sell off their stake once we can make them some money. To think otherwise goes against the history of investing. Elliott is a poison and just a market manipulator. Go read what they’ve done and you’ll be shocked. Again, not a supporter of the ELT, although it got much better today lol, but Elliott is NOT the blessing you think it is.
Is someone trying to change the narrative? BT started way before Elliott. I'd take my chances with a new ELT any day.
Anyone catch how GOGO in one breath said "we won't let Elliot push us around"? Than 10 minutes later says ..."well we have to do what shareholders want". After this letter was made public P66 stock jumped so I think that means the shareholders loved the ideas........given the time frame of the "Valentine" from Elliot and VCIP I think you will see GOGO retire in the coming weeks /months and ride off into the sunset with his 6 million dollar package!
Whatever give me higher stock prices and less of you cry babies
Correction BT started way before Elliott got involved . Company split always creates jobs . Current strategy past 5 yrs we have been transforming non stop with out showing significant upward and during this we slashed good employees . Each ELT member have their own agenda hope atleast Elliott will let all of them focus on one goal or strategy .
Don’t get me wrong. I’m not saying we are on the right track at all.
But don’t get fooled into thinking the world will change with Elliot and suddenly all wrongs will be right.
They are in it to boost share price and then dump it. They aren’t investing for the long term.
It’s far more likely there will be job cuts and further cost cutting if we stay as we are and do nothing. Gogo will do everything he can to try and show he is right and Elliot wrong.
The problem Elliot is highlighting is P66’s poor leadership giving lack of clear direction along with the inefficient structure of the company. This needs to change
If you owned P66 would you honestly employ this CEO and ELT to run this company for you ?
As a stockholder this is what is needed. Company is far far gone!
Despite all of the Elliott this Elliott that, there will be job cuts this year.
It’s not like Gogo hasn’t slashed jobs. He’s laid off a lot of good employees out of refining that could have helped the refineries run more reliably and therefore at a lower cost per barrel. Just cutting jobs will not get where we need to be.
‘Ol Gogo needs to offer up a viable alternative to Elliott’s plan if he wants the support of the shareholders.