I'm beginning to wonder if there is some sort of secret CEO society where the likes of Jeffrey Immelt, Ginni Rometty, Marrisa Mayer, Bob Nardelli..etc sit around an oak table bragging who drove a once great company into the ground the fastest while getting rewarded the most in compensation?
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Wondering? You dont have to wonder, it's 100% true.
Think about the market cap destruction, $70 Billion plus the tens of billions blown with nothing to show buying back stock. How does the CEO still have a job!
Sears USA is close to filing for bankruptcy...its CEO didn't respond to change unlike Walmart and Target. Sears is living proof of how a clueless leader can destroy an icon very quickly, and exit with a massive bonus as the ultimate insult. Large Mutual Funds who own IBM and depend on the dividend continue to prop up the management, but this is short-lived since IBM talent is leaving in droves. The alternative is to hire a proven technology visionary from outside IBM to rescue and reconstruct while there is money (IBM's market cap has fallen from 200B in 2012 to 130B in 2018, and its revenue has plummeted).
A crowd referendum will set the wheels in motion - perhaps the admins here can spin-off one with the appropriate theme.
IBM is definitely the next GE - and it's already the next CA. Wonder if broadcom will buy us?