Wondering if the president title is the indicator? We are all in for more years of moni ?
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Patolawala may turn out to be the right man at the right time.
Duh
Monish Patolawala will do the best he can if named CEO.
Dividend cut 2024. Bankruptcy 2025 or 2026.
I agree. Chapter 11 bankruptcy is more than likely to occur in 2024.
Mo Moni Mo Problems!
Alienating the general employee population is one thing. But he has managed to also alienate the executives (VP/SVPs)! No one says anything due to fear of losing their jobs! Even if you cut down costs to the bone (or bone marrow), there is no functional company left past 2 years from now. You need people to execute the work, but Moni is driving people away from the company! Just look at his own finance function!
3M is a disgrace.
A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money. A plan of reorganization is proposed, creditors whose rights are affected may vote on the plan, and the plan may be confirmed by the court if it gets the required votes and satisfies certain legal requirements.
Unless the court orders otherwise, the debtor also must file with the court:
- schedules of assets and liabilities;
- a schedule of current income and expenditures;
- a schedule of executory contracts and unexpired leases; and
- a statement of financial affairs.
GE's dividend was cut in half from 24 cents to 12 cents in 2017. When the new CEO, Culp, took over in 2018 it was cut to 1 cent a quarter. This saved the company some $30 billion in payouts over the past few years. GE had only a fraction of our company's liabilities. Monies is from GE. More JE's, asset sales, spin offs and the inevitable dividend cut. Stop buying this worthless paper and sell what you have. $107 is a beautiful price. After the dividend cut, look for $60 to 80 price range.
Probably will be... and probably will get the same, predictable results as other former-GE leaders who have landed elsewhere.
Restructuring to unlock "value", spin offs, divestitures, layoffs, closings, turnover in all ranks of the company, cutting corners wherever possible, and potential bankruptcy.
Should be fun! Buckle up!
Bankruptsy?!!??!!!
Looking forward to the Squid Games. 🦑🦑🦑
3M is destined for bankruptcy. To package divisions for sale, mothball divisions/factories, reduce headcount, and cut to the bone, the company doesn’t need someone with experience in running or growing any business, let alone a 3M business. Or someone with experience with 3M products, customers, employees, or technologies for that matter. Or it’s 120 year legacy. All that’s needed is someone who views the business simply for its assets and liabilities and cash flows. Nothing else. It matters not what it produces. At the end of the day, it’s all just widgets and COGS.
Navigating bankruptcy is a largely a finance task, and the person who’s going to do it is Monish.
Strap in friends. We are in for another 5 year run of mayhem. All aboard the crazy train.
Just a matter of time before more women file complaints! He needs to stop with his manipulative behavior and bad treatment
Winning.
The directors and VPs have planned well ahead for their year end vacations. Just look at the "out of office" notice that they sent out way in advance!
The last year has been lovely. What does 3M have planned for next 5 months. So excited 😆.
So is MIkey finally retiring 1/1/2024? That would be great news.
CEO huddle this Wednesday to announce major leadership changes everyone! Git rdy!
Yes, he will be the new CEO of remainco. Spinco will spin January 1st. As many lawsuits as possible will be settled so that he has a 'clean' slate to start his time as CEO. 3M is at the end of there life cycle. This part of the life cycle may be 3 years or 30, but the goal now is to raid whatever is left of the treasury.
The only thing they bent is the stock price curve - downwards.
Yes. I feel sorry for anyone still at 3M!
His own hires can’t stand him! He hired two SVPs in Finance (Bobby and Fernando). Both hired were former GE. both of them left 3M within 5 months. Not sure how the company will execute and get a “few good quarters” with talent leaving! Those left behind are the ones who have not secured an external job yet. But we should all “execute the plan” and “bend the supply chain curve” and “trust the process”!
Get ready for more gas lighting and verbal abuse!
There will be restructuring, layoffs no matter who is ceo
We can make the already unofficial official.
Day 1 abandon any respectful workplace parts of the code of conduct
Day 2 put women in corners until they quit
Day 3 admit the plan to grow is a plan to shrink and we are following GE’s playbook
High chance Moni takes over RemainCo. Get ready for more layoffs and restructuring.