I don't think the BOD cares about anything besides short term profits. The fact that their CEO is still standing is the strongest evidence anyone needs.
I hope JCI gives all their employees at least as long of a leash as the CEO, otherwise they're opened up for employment lawyers to fight any employees termination in the future, no matter how justified it is. This is exactly what's wrong with the US system. A bunch of CEOs sitting on the boards of corporate America defending the other CEOs no matter what they do or how insanely bad their judgement might be. If this guy doesn't need to go what exactly would force any CEO out???
Agreed. Anyone who demonstrates a complete lack of good judgment cannot be left in a leadership position (or any position for that matter). And if the BOD is going to stand behind him they need to go as well. I wanted to invest in this company but wont until he is gone. I don't understand what is taking so long. He should have been out immediately.
I get that JCI is doing well. But you can't tell me that the employees have any faith in their CEO now. Journal Sentinel just published another article about his insane judgement. The guy needs to go. Best case scenario he's being blackmailed. Worst case he's a moron.
The story keeps getting worse. Now he claims he barely knew this man but lets him live in his house rent free? Also claims he has no idea how much money he invested or what it was invested in. Clearly either a blatant liar or completely incompetent to run his life much less a corporation. Probably BOTH. The BOD should be canned if they let this guy stay. Talk about asking for a shareholder lawsuit.
This CEO is a real 8-ball. If he's this careless with HIS money, what about the stockholder's investment in the comp[any?? Can him before he does more damage!!!!!
Google the name Joseph Zada and you tell me why Johnson's CEO is paying a crooks defense, buying him houses etc.... We need a ceo with a little more integrity and the BOD should be ashamed for not tossing him out on his behind. .
I own AA , GE , JCI all spinning . Already was in MRO , COP , and GCI of the three only GCI has formed 2 companies that are stable . Hopefully both parts of JCI will appreciate . I love owning companies whose products I also use and own . Just would like to own a seat in a 2016 Colorado instead of a 94 gas guzzler . 15 points here as advertised would help with a down payment . As far as the spin goes in the next year shareholders will be given shares representing their former ownership in JCI's automotive interiors business merged with Yanfeng Automotive Trim Systems, a wholly owned subsidiary of Huayu Automotive Systems . I believe their both Chinese companies . I sure hope the shares will be listed on the NYSE and the employees in Holland and Plymouth Mi will be retained along with their Union Contracts . I used to work for Hoover Universal which JCI purchased years ago .
Credit Suisse has a report out talking about a buy back with the money forcasting the new co to have $3 a share in earnings instead of $4 after and taking your line of reasoning that it may be risky as companies tend to sell too cheap and buy too high when purchasing assets . Report is dated 24 August 2015 with a target price of $49 . Spin to happen in 2016 .
I agree with some of what you say . I think reducing debt and being able to grow the building services and battery parts with the money is the thought . I did see insider buying is favorable here on the S and P tear sheet which I like to read .
I would imagine the auto part will be structured with low debt and pay a higher dividend . Like the recent spin for Gannet GCI and TNGA . I am pretty confused about this myself as the last I heard they were going to spin ( seperate ) and sell . Shareholders were not going to have to be involved . I think this is a steal now . S and P has a strong buy currently with a price target of $64 . If it hits $50 again I will be pleased . This is a wonderful entry point long term . Earnings are forcasted to rise in double digits for 3 years or as far out #$%$ and P forcasts with $3.90 next year . Should be solid , the building services should be full of growth along with the Battery division . This sell off should solidify the PPS . I used to work for the Seat business and they were a good outfit that made a quality product ( Hoover Universal ) .