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Re: Scumbag Billionaire
Last night on Bloomberg the head of GM was being pestered with questions regarding whether the guy would be paying a dividend this year. The 5-6 times that the question was rephrased the guy would not flat out say Yes or No.
Touchy subject for these innovative "industry leaders"
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Re: Scumbag Billionaire
It's difficult to describe just how driven by Wall Street expectations businesses had become during the evolution of the FIRE economy v.2. I've worked for two US Fortune 100 companies during my career and years ago [early 1990's] I remember being struck at how much focus there was on making sure all the executives and managers understood exactly what was being said about the company by the analysts - and by extension, what was expected of us.Originally posted by Shakespear View PostLast night on Bloomberg the head of GM was being pestered with questions regarding whether the guy would be paying a dividend this year. The 5-6 times that the question was rephrased the guy would not flat out say Yes or No.
Touchy subject for these innovative "industry leaders"
Large amounts of the stock in these iconic companies was held by pension funds and other institutions. There's a well known herd mentality among these investment managers, and they are all heavily influenced by the "research" that used to come out of the big Wall Street investment houses. Woe be to a company that did anything to piss off an influential analyst.
Those habits will take some time to die out as FIRE implodes. As EJ keeps pointing out, it's usually faster to change out the management and executives rather than expecting them to understand the transformation underway and altering their own attitudes and behaviours.Comment
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