Buying MF at 6B, now the entire company is worth 8B, no wonder they want to layoff more MF folks
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Couldn't agreed more. Bad decision from Mark buying MF. MF overpay and couldn't digest HP either. HP was overpriced due to another bad CEO decision which overpaid for Autonomy without doing full due diligence.
I am not surprise if the cycle continue further when another CEO overpay for OT. Doesn't affect the CEOs, they still get their millions despite messing up companies. I just don't understand why companies hire and pay millions for CEOs that make unnecessary and costly changes like acquisitions to show their worth but in most cases just devalue a company and move on.
Just find an internal person who knows the company and is willing to improve and invest on what is working well and spend on R&D to innovate. No need to hire external CEO who is there for their ego, get distracted by the next trend/fad (imagine the dog in UP and squirrels) and for the $$$. CEO should stand for Chief Eliminator of Organization.
Worst decision.
Not bad, OT was mislead by the Scot. Also OT has done an abysmal job being able to take advantage of opportunities that MF presented due to hard-headedness, distrust and micromanagement.
You forgot they sold AMC to Rocket 2 billions
Not sure what the plan was - look at the MF stock chart and that's what was brought into OT, and doubled the headcount. (low of ~$3)
https://www.barchart.com/stocks/quotes/MFGP
OT also had/has a lot of debt - now that rates are high it's hard to service that debt.