Thread regarding GE Oil & Gas layoffs

payoffs to the top dawgs for merger

BH:

CEO Martin Craighead is expected to receive $41 million

Belgacem Chariag, president: $18 million;

Arthur Soucy, technology and products president: $16 million;

CFO Kimberly Ross: $15 million;

Richard Williams, senior adviser: $13 million;

Derek Mathieson, chief commercial officer: $10 million

Havent found comment on GE but if you consider thats $113 million to BHI, Id imagine mirrored to GE, $226 million

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5-step Playbook for GE acquisitions:

1.) Create a PowerPoint with inflated estimates of future revenue while failing to perform adequate due diligence on company being acquired;

2.) Pay fat golden parachutes to exiting executives of acquired company;

3.) "Rightsize" acquired company by reducing headcount by 20% across the board;

4.) Pay huge bonuses to E-bands for closing the transaction just prior to the end of their 24 month stint in their current role. Their timing was perfect because they were already doing internal interviews for their next role to insure they could "move on to a new role before the Sh--s the fan with this acquisition";

5.) Additional 10% across the board cuts at Acquiring GE division by new E-bands in year 2 of acquisition to make up for the lower actual vs. predicted revenue at the acquired company - everyone must feel the pain to meet end of year financial targets (so the new E-bands can get their bonuses!)

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GE's proposed acquisition of Baker Hughes is cleared unconditionally by the European Commission.

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So, who are the fools then? They pick up cash bonanzas thanks to your efforts and you get the scraps. Watch out for savage cuts to headcount and salaries with the merger to justify more big bonuses at the top.

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They are all cum drunk bastards!!!!!

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