Griffs, the Troll respectfully disagrees. The Proxy Statement is a forward looking document announcing information pertinent to the upcoming shareholder’s meeting. Although it does include compensation for the prior year, it also contains information available up to the time of its release. For example, last year’s Proxy (for 2008 SH meeting) included data on the termination of Kelly and Saleh, who were canned in January prior to the release of the document. At the very least, the report should have 2008 compensation for all Officers. For some reason KW was omitted entirely from the document. Regardless, the fact remains that KW stole an extra $4 million from the company.
But wait, it gets worst. Remember those nastygrams from CFO, Bill Brust, telling people to stop buying paperclips and drinking bottled water? And those newspaper articles about how he takes pens from hotels to save money? Well it turns out the little curmudgeon ran up a $600,000 tab last year flying himself and his family around the country on the corporate jet and charters paid for by Sprint.
Woody Allen made a movie a while back called Crimes and Misdemeanors. It’s about a high society man, philanthropist, doctor, all around good guy. He gets caught up in a discreet affair that later turns ugly resulting in the murder of his mistress. Initially, the man is wrought with guilt and the ways of the world begin enacting revenge. With the police closing in, the stage is set for the man to make a critical mistake. Yet, an odd twist occurs. Nothing happens. The murder is attributed to some homeless guy. The man wakes up one day, his guilt is gone, he rationalizes the murder as an anomaly and returns to leading a “normal” life. What started out as a murder mystery ended in a tragic display of ones lost soul.
It’s hard for the Troll not to draw a parallel with Sprint execs. With so much despair in the world (not to mention at Sprint), it is unconscionable what these Dumb Cowards are getting a way with. Sure, they can donate a few cans of vegetables to the local food bank and feel good about themselves. But the truth is they lack the moral fiber to lead an honorable life. The Troll
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Hmmm... lets ask everone else to take pay cuts, and lose their jobs but then they take bonuses and use the corp jet for non business use. Something is wrong here. Many people at Sprint "met their goals" also, but some of them lost their jobs and income.
ReplyDeleteDon't forget about turning down T1's to sites (CDMA and EVDO)that were so much needed last year for traffic. Yes i lost my job on the last go round. Was I mad? Yes only for about 30 seconds. I put a lot of my time into this company(remember united telespectrum,centel,sprint cellular). I'm gone and all the others that were cut loose got a good severance that I doubt anybody will get on the next go round. Farming out to contractors = good bye Sprint. I never figured that the people at the top were so blind but that's what you get when all that they want to do is line their pockets.
ReplyDeleteI'm starting over again at least with some seed money but you guys that got "Lucky"and made the cut I would start saving for a real rainy day cause its going to happen.
Wasn't today, March 31, the deadline for the 8000 layoffs? Any news on that?
ReplyDeleteThey have got most if not all canned. So now they will be rolling in the dollars to pay their over bloated salaries and bonuses.
ReplyDeleteAfter the layoff party comes the re-badge party when the rest of the worth while employees will be let go.
I just want to know who in their right mind would want to own stock in a company that doesn't have any of it own employees watching the network.
At one point S wanted the employees to own and look after the network but now its just keep it working the best you can and hope nobody notices. Good Luck Dan and the Boys cause you gonna need it.
This layoff is definitely different from previous ones. Management positions were decided without any pretense of keeping the best performers. Positions were filled without a clue as to who was the best for the job, and it seems like many are in the mode of just looking out for their buddies and themselves. The outlook within Sprint is completely shortsighted: no long- or medium-term planning, miniscule budgets (as during the last year+) for site builds or modifications. Everything has been in a waiting pattern over the last year, pending news of what the long-rumored Ericsson outsourcing would reveal. Morale is in the pits. 4G buildout has been extremely slow, which is going to let Verizon catch up and pass us with LTE, and AT&T with HSPA+. Dan Hesse and the other execs have failed the employee base, “nickel and diming” the groundforce (no merit increases for a second year), while they continue receiving the huge bonuses and compensation packages that much more heavily favor them. Hesse has kept the corporate jets, and has continued his Hollywood wannabe style while Sprint burns. He has collected tens of millions, while the employees’ stock value has plummeted during his tenure. The Kansas City mentality predominates, and is extending its control even more over the rest of the company’s operations. The regional control (and budgets) that Nextel refreshingly brought have long faded: now, even Directors cannot spend any funds w/o getting Kansas City approval. Q-Chat (CDMA push-to-talk) was touted during 2007 as Sprint’s salvation for 2008, but nothing has been heard of that over the last year. Sprint has nothing on the horizon to differentiate itself from the competition. The EVDO lead has long been squandered, and the Nextel Direct Connect advantage has been decimated. Sprint’s only hope is to be bought out by somebody who can use a wireless pipeline, such as a Google or a Comcast.
ReplyDeleteAs I said someplace else,one of the happiest days of my life was when my supervisor told me to pack up my saddle,chaps and boots and it was time to find a new rodeo cause this bull is rolling over and dying.
ReplyDeleteSeems like they have turned even more clowns loose to handle the clean up. I hope they do but doubt they will.
I got out with a little package nothing near what the head clowns got but at least it shouldn't blow up in my face.
Some markets got to keep some good people and some didn't. Then there were markets that got some "Real Winners" they can't even spell C D M A or E V D O but they will be running it. I guess that's all that is being looked for anyway is a "Good Show" and that's what its going to be but it will be a tragic comedy.
When the Danes take over I would give a couple bucks to see the looks on the "Winners" faces when they get gone with nothing to show for it.
Just for the sake of it hope and pray Comcast takes it over then there my be a chance but until then bring on the dog and pony show.
hahaha...that hyde guy bounced your ass off of sprintconnection troll...owned
ReplyDelete