The Troll says welcome. The Troll created this blog as a way to affect change at S through a call to action amongst fellow S stakeholders. Initially, a casual reader of Sprint Connection blog, the Troll sensed an opportunity to tap into the knowledge and discontent of fellow bloggers as a way to force action. S is in a mess, caused by it's own stupidity and exacerbated by the downtrodden economy. The execs are incapable of turning this mess around. Through dumb decisions and cowardly actions, they have stripped the value of this company by many billions. And they are still in control. This has to end now.
The Troll encourages you to read the Feb 4 posting originally published on Sprint Connection but now archived in this blog. The first call to action by the SprintTroll community is to stop the $4 million of unwarranted severance to Kathy Walker. This is an illegal act as outlined in S proxy statement for 2008 and detailed in the Feb 4 post. The Troll is excited about the buzz this has created on Sprint Connection and encourages you to write the Corporate Governance BOD expressing your dismay. In the coming weeks and months the Troll, with your input, will look into other ways to bring down the Dumb Cowards, first by instituting a Constitution for the SprintTroll movement; nominate a leadership team to ultimately advise on the replacement of the BOD, and develop an action plan to move our ideas forward. It's time to make history. We are in the right place at the right time to control our destiny. The good ole boys in the boardroom and executive offices better get out while they can. The days of executive incompetence and greed are numbered and the SprintTroll community will lead the charge.
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We're behind ya brother. Let us know what we need to do and we will follow.
ReplyDeleteI'm posting something I found elsewhere that I found meaningful regarding companies who are abusing the H1-B Visa program. It was a program intended to be used ONLY when companies could not find US employees!
ReplyDeleteWhat's bizzare is that 100% of all employment growth in computer-related occupations have gone to non-immigrant visa holders in this decade.
Employment based immigration should be a small percentage of the prior year's domestic employment growth.
If occupational employment growth does not exceed domestic graduation levels, the occupation should be in "blackout" -- closed to immigration.
This would discourage employers from exporting jobs because employment based immigration rates would be based on employment retention.
As I'm sure most Sprint employees have seen by now, part (if not all) of Network will be outsourced to Ericsson. These plans has been carefully crafted over many months and over the long run, suffice to say, will not be good for the average employee. The plan started, at latest, in September of 2008 and has been kept under wraps fairly successfully until now. If you review the documentation available in doc-share, notice that the former CEO of Ericsson sits on Sprint’s Board of Directors (and has since November 2008), and then see that Ericsson’s KC headquarters were recently moved to Leawood and across the street from campus…well, it doesn’t take Perry Mason to figure out what is going to happen.
ReplyDeleteUnfortunately, as The Troll has reminded us, in the midst of all this Kathy Walker will be walking away with a rather large severance package. However, what some of you may not be aware of is, Ms. Walker renegotiated her contract on Dec 17, 2008 with her new contract going into effect on Dec 31, 2008. While the timing of the new contract is highly “coincidental” it must also be noted that it most likely changed her compensation package in the event of termination. We will not truly know her final severance until Sprint’s next SEC proxy filing. Oddly enough, Sprint has now removed the 8-K filings on Mr. Hesse’s and Ms. Walker’s amended contracts from their SEC filings website: http://investors.sprint.com/phoenix.zhtml?c=127149&p=irol-sec&control_selectgroup=3,4,5 . However, you may still view Ms. Walker’s contract online at http://www.sec.gov/Archives/edgar/data/101830/000119312508257043/dex102.htm .
It is entirely unfortunate, yet telling, that some of Sprint’s leadership – who deserve a majority share of the blame for Sprint’s current position – are using this time of intense turmoil to enrich themselves. It is not for me to say whether or not Ms. Walker should take a $3+ million dollar severance. However, what I can say is this: she has directly contributed to Sprint’s failures as a company and has directly contributed to the poor condition in which it currently sits. To enrich such a person whose systemic failures have helped lead to such a collapse is not only unbelievably irresponsible but borderline criminal. This issue is not one of fairness but of justice.
Next time we will begin looking into other issues of note for Sprint including Mr. Hesse’s amended contract, the recently announced Long-Term Incentive Plan for executives, potential, future IT layoffs/outsourcing, Steve Elfman’s legal issues, and Sprint’s executive only pension fund.
- Perry Mason
http://www.bizjournals.com/kansascity/stories/2009/02/02/daily61.html
http://www.sprint.com/governance/board/
http://www.bizjournals.com/kansascity/stories/2008/03/10/daily29.html
http://sprintconnection.kansascity.com/?q=node/947
http://www.marketwatch.com/tools/quotes/secarticle.asp?sid=5141&symb=S&guid=5827123&type=313#DDEF14A_HTM_TX80737_35
Hey Troll, you seem to have some constructive energy that you want to focus on turning Sprint around. As an employee who has seen things deterioriate over the past 7 years I welcome any agent of positive change. It has been hard to swallow the beatings in the media and online posts here on campus as the majority of us employees are simply trying to follow leadership and do our jobs however folks at the top have misguided or attempted to turn things around. We'll see how it goes...
ReplyDeleteRegards,
KOTI