...ok, I promise to never use that Star Trek reference again, though it seems fitting, doesn't it? Actually, the inspiration for this blog's title was my former life, a long time ago in a galaxy far, far away...
I must admit that there are days in which I miss being Captain Y--. So much of our identity is wrapped up in what we do, and what I do now leaves much to be desired. Alright, I really don't have any reason to complain. After all, I do have a job in which I'm well-paid and enjoy the perks of telecommuting and extraordinarily generous flex time, which is saying something. But, there is that little matter of my company dumping 10% of its workforce again. This frustrates me because it's apparent such drawdowns are done to appease shareholders. Pardon me as this investor indulges in a bit of hypocrisy, but I think the recent market crash bears out the point that while a person is smart, [shareholders] are dumb, panicky, dangerous animals, and you know it. Stop me before I quote any more SciFi movies.
Saturday, March 10, 2007
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4 comments:
Wow! That's a pretty accurate description of this particular shareholder. I especially like the dangerous part. I think I'll go get my nose re-pierced, except this time I'll do an actual ring through my septum so I even LOOK like a dangerous animal. And then people can wave stock reports in front of me to get me all fired up and snorty. Of course, the whole idea of dumping 10% of a workforce to make rich people richer makes me plenty snorty.
Please tell me you didn't sell. Pleeease. :)
I guess what cheeses me is that companies will make strategic decisions based on market forces that are susceptible to the psychology of the herd mentality. I bet there's even an entry for it in the DSM-IV.
The salt in the wound had to be today's news that the CEO Gary Forsee "received compensation" of only $14.8 million last year. But that is the price you pay when you push your company to "lose ground against the competition", as well as loose 25% of the stock's value in a year...
No wonder stockholders fear the future. I do not hear anything that makes me think they know how to turn it around.
And yes, I still support Sprint as a cell customer.
Don't remind me of the stock price. Ugh! My moment of irony for today was when I found out my broker just picked up 200 shares of AT&T for my portfolio. I feel so... dirty
The good news is that Sprint is focusing on profitable market segments and technologies. The bad news is many of our business customers have sizeable investments in our so-called unprofitable technologies. Much unhappiness will ensue.
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