December 14, 2012 was the day when Team Verwaayen launched ALU's financial turnaround in the public ... well, the worked on it through 2012, obviously, and the technological turnaround had already started in 2009. Anyways, congrats to those who did NOT misread the Goldman Plan and were able to follow ALU's rise up these PPS levels, and soon the $5's.
"... What dolphin cannot see because his head is shoved too far up Ben's #$%$ to see any light, is just how bad a financial mess Michel inherited ..."
Nah, what this poster can't see is that the organization of Alcatel-Lucent had to be rebuilt from scratch. Consider Kodak and Alcatel-Lucent for a comparison. Both were in a similar situation a few years ago, both floundered with outgoing product lines and legacy managerial policies and practices on a massive scale. Now, Team Perez at Kodak stayed the course with outdated technology and crazy ideas how they could beat competition with product lines already on the downward path of their life-cycles; and Team Verwaayen at Alcatel-Lucent innovated and re-invented the organization with competitive products. The leader of Kodak did not formulate a new vision, and he failed; the leader of Alcatel-Lucent formulated a vision and held on to it, and it worked. Kodak still founders after BK and a 100% write-off for the ex-pumper monkeys on the Kodak board (boy, do I love it when the half-liner writing pumper morons lose their @#$%'es); and the leader of Alcatel-Lucent avoided BK and handed over a company that's prospering. See the difference? Maybe not ... Unfortunately, some folks are unable to think beyond what they see at a given moment in time, which limits their ability to reason toward the causes of why things are as they appear to their senses.
Team Verwayen? You mean Ben Verwayen and Paul Tufano? Now that is funny.
Honestly, I could not understand barely a word Ben Verwayen spoke at the quarterly conference calls. I really did not like Ben, our income statement and balance sheet really sucked and Ben's proposed plans never materialized. It dd not take me very long to understand that his talk without action is simply lip service. Where was Ben's headcount reduction? Why did that barely move an inch? That Goldman loan was a Hail Mary pass which mortgaged our company's IP because of all the blood spilling from the income statement and balance sheet.
You really should push your statue of "Team Verwayen" off its meager perch and accept the change that Michel is going to move this company forward.
Handed over a company that is prospering? What a joke. He handed over a company with an additional $2 billion in debt, secured by its patents, just a year after selling one of its best assets for $1.5 billion and burning thought it all, and then he promptly burned through another $700 million before exiting the door. The stock was near bankruptcy levels, most analysts were recommending sell, with target estimates as low as $0. Customers were afraid to buy from ALU for fear they would go out of business. This is the reality of what Michel walked into and look what he has done! Too bad you sold out of ALU because otherwise you would be able to look at your brokerage statements to see just how much he has accomplished in such a short time. So rather than celebrate the anniversary of tacking on another $2 billion in debt, let's celebrate the anniversary of Ben's admitting he could not execute a plan and resigning before we suffered still more damage.
"... Handed over a company that is prospering? ..."
That's why I said:
"... Unfortunately, some folks are unable to think beyond what they see at a given moment in time, which limits their ability to reason toward the causes of why things are as they appear to their senses. .."