My wifes company is hurting bad....

[NY Trooper]

Over the past couple of years my wifes company has been going through some serious and drastic changes. The previous CEO that was there when she was hired was a real good guy. The company was productive and managing to stay afloat in a poor economy.

He came in and evaluated how things were being done. Everything was running smooth. The company was prosperous. During his tenure as head of the ship he made a few changes. He enacted about 28 changes to the company that cost them roughly $8 million dollars to implement.

The new guy though is the total opposite. During his first couple of years he has brought about 100 plus changes that have cost the company $46 million. Though it hasn't caused the company to go belly up, lots of people are worried what the future holds. He is spending the companies money like it's his own and unlimited. A lot of his new ideas are putting fiscal constraints on the company that are going to be felt for a very long time.

We are hopeful though that things will be take a turn for the better. If not there could be dire fiscal consequences that might lead to the company being taken over.

[Lockon]

Be glad she is still employed....my wife was laid off at Christmas and still has not found a job..we took almost 50% reduction in income. I . things work out for you and your wife

[bassman34]

Yup this seems to be the american way, my dad had this happen to him. 25yrs with the company, new company owner started spending up all the $$$$$. It was bad, and when the pay checks started bouncing the end was near, soon after it was belly up.

[Team Hobbie Hut]

<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by bassman34 &raquo;</td></tr><tr><td class="quote"> 25yrs with the company, new company owner started spending up all the $$$$$. It was bad, and when the pay checks started bouncing the end was near, soon after it was belly up.</td></tr></table>

Sounds like the new owners name was Oba.......... oops, I don't want to make this political.

[JDH_STL]

12.5 years with the same co. and about a month ago they said we lost an account we'll give you 6 months severance, see ya!
But I am getting to do some fishing I normally wouldn't have done so it's not all bad.

[alleyway]

<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Team Hobbie Hut &raquo;</td></tr><tr><td class="quote">

Sounds like the new owners name was. </td></tr></table>thats what I was thinkin

[Walkabout7781]

Spending other people's money appears to be a lot of fun. The new CEO probably gets several million when he gets fired or the company goes TU, so why wouldn't he want to hurry it along? The sooner the better, as far as he's concerned. Get his $2 million and retire to a nice beach someplace.

[JohnM]

Hope all turns out well!

How many of these changes were mandated to meet new laws or regulations?

If he is spending on frivolous stuff and there is a BOD involved he should be gone. If no BOD involved the company belongs to someone and he should be gone. The CEO is in charge of someone else's company if it's not a sole owner.

To those that say a 2M Golden Parachute, why would they have to pay one to recruit a new CEO IF the old one was doing a fantastic job? The Golden Parachute is paid for taking risk in a career. Saying he or she has one is a big assumption. They could as easily have penalties for not hitting metrics if they took over a fantastic running company.

Tell her no problem making payroll or paying retirement benefits. Fire up the printing presses, we can make pay roll for a very long time.

Seriously, I have empathy on the whole company and wife issue. Hope it turns out for the best.

[Shocker]

I once read a post about a tournament payout scheme here on BBC; that would be a good read for the new CEO, could save the company if he understood how it should work. I will have to see if I can find that post...

[shooter64]

If it's public owned, just short sell the stock, if you are convicnced it's headed in the tank.

[LexIS307]

writing is on the wall, get out or go down with the ship

[earthworm77]

<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by NY Trooper &raquo;</td></tr><tr><td class="quote">
The new guy though is the total opposite. During his first couple of years he has brought about 100 plus changes that have cost the company $11 trillion. Though it hasn't caused the company to go belly up, lots of people are worried what the future holds. He is spending the companies money like it's his own and unlimited. A lot of his new ideas are putting fiscal constraints on the company that are going to be felt for a very long time. We are hopeful though that things will be take a turn for the better. If not there could be dire fiscal consequences that might lead to the company being taken over.

</td></tr></table>

so what you are saying, is that Obama is moonlighting and running your wife's company into the ground as well?

[buzzking]

So which division of the government is she employed by?

[mattmann7]

I heard on the local news your wifes boss is going to put the companies emergency reserves into a glutted market. Then in order to restock he'll have to buy them back at an inflated price. Why not piss away the reserves after emptying the financial register on worthless investments. That should straighten things out. They used to call it sharades(sp) or something.

[local16]

Yet one more shit stirring political post from you know who...You just don't get it do you

[Quickrelease]

<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Team Hobbie Hut &raquo;</td></tr><tr><td class="quote">

Sounds like the new owners name was Oba.......... oops, I don't want to make this political. </td></tr></table>Bullshit you don't!!!!

[Team Hobbie Hut]

<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Quickrelease &raquo;</td></tr><tr><td class="quote">Bullshit you don't!!!! </td></tr></table>

Ok Bruce, ya got me. Maybe I was out of line, but damnit, ya can't spend yourself into posperity. I don't care if you're Michael's wife's boss or the president of the United States.

[unklenew]

<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Team Hobbie Hut &raquo;</td></tr><tr><td class="quote"> I don't care if you're Michael's wife's boss or the president of the United States. </td></tr></table>


Somehow I think it's one and the same anyway

[local16]

<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by unklenew &raquo;</td></tr><tr><td class="quote">


Somehow I think it's one and the same anyway


</td></tr></table>
You think maybe An LEO that never follows the rules..huhhh