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Cytec Industries Inc. Message Board

  • tmxdu2tmxdibycracky tmxdu2tmxdibycracky Feb 22, 2001 10:39 AM Flag

    Mentors?

    Aren't they people who have significant experience? Are there any left?

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    • I dug up c) based on your slam of "chip and water" boys. Personally I treat with respect the people who bring me endless salsa. Any person who works to his highest and best use is OK with me. Despite your excellence at pissing and moaning, I suspect your highest and best use lies somewhere else. It may even lie at another company. If it turns out that complaining *is* what you do best, while I'm OK with that, the employment prospects are dim.

    • what you say is dead accurate. its not going to change either. time for a sale of this company.

    • a), b), and d) are true. Where did you dig up c)? My sector of Cyt is a proven performer, but our ability to tow so many losers can only go so far. May 1995, eat your heart out!

    • None of your money has to go into Cytec stock if you so choose. Only the match and performance contributions end up in Cytec stock.
      I want to see my holdings increase and EARN for retirement. That's one of the reasons I'd like to see some of the earnings returned to the holders of the stock (I would use a dividend reinvestment program). This should be considered a long term investment. There are some who don't want this because they would be taxed. Seems to me that most of the folks who don't pay taxes have almost no income, but then I'm not all that good with higher finance.

      btw...liked your response on the looks of Cytec women. Can only think of two who were not attractive and they were a couple of general managers whose attitudes and demeanor made them unattractive. Most that I remember were superior folks.

    • Why would anyone want DDF back? His positive contributions to the company were getting Cytec off to a rah, rah start and selling the company to the street. He had me sold, too.
      What did he deliver? A management structure that spent more time trying to be the next Daryl by hiding problems and that turned loose some of the meanest and pettiest general managers around. Most didn't have the ability to actually run their business, however they used their positions to get even for real or imagined past slights. A good number of them acted like spoiled brats when they came to power. "No cynics" was translated into don't question anything.
      DDF's legacy may be two-fold. First he may have been one of the best at taking Cytec from Chemicals Group to an independent company. The second part of the legacy may be absolutely poor judgement of folks to actually run the company. If you don't like Lilley, who do you think put him there?

    • The guys are not very attractive either...........

    • Well, I congratulate you for being there when Cyanamide was around....but there are a lot who weren't. Not being able to make a choice how to invest your company match (a LOT of money when you are maxed out)....when you are VESTED...really su^$x)s. ESPECIALLY, when you see the stock going no where and you want to EARN money for your retirement, not live on it's principal.

    • I'm not "Stone Cold", but the bottom line is with the current tea sippers, golfers, racquet ball players, and ugly women, will we see 40 PPS again? I like to be optimistic but I can't see the power of prayer working here. As you noted, the old hands are gone, or going and the kiddies rather play and Darrell needs to come back and do some serious butt kickin'.

    • For some, the glass is half full instead of half empty. My ESP account is worth about 15 times the amount I contributed even with the big hit it took in 98, thanks to the fact that I bought Cyanamid stock and the fact that company match and performance were in the form of stock. It would have been more if I had transferred index funds to stock when it bottomed at 14. I am not thrilled that over the past couple of months that this ESP has lost about 15% of it's value, but that is short term. I am also in another 401k in which company contributions are not in the form of stock. It is doing well, but nothing like Cytec over the time I've had it. I am not thrilled that my personal Cytec stock has been rather flat.
      I hate to sound like a company hack, but you must give the devil its due. I believe Cytec's management has made a serious mistake by dumping longer term (read higher salary) employees in the name of making this years budget look better. The company also seems to be limiting retirement liabilities by dumping longer tenured employess (read higher salary) even if it hurts in experience and in the face of the fact that those of my generation have a better work ethic and attendance than the kiddies. Remember, it absolutely isn't age discrimination, we are just getting rid of anyone who may not parrot the company line or may actually remember the past accurately.

      The issues facing CYT are how well the company is going to carry its businesses in this time of higher energy/raw materials costs and in the face of tough competition. We managed paper chemicals from promenance into oblivion. Can water treating compete with the competition, especially SNF and Ciba? How well will acrylamide do in the face of a 60+million pound overcapacity and SNF's intent to build more capacity?

    • If you want to participate in the company's 401k plan (i.e. before tax contribution), you are "forced" to contribute to the company by buying their stock. The company match IS their stock---NO choice. No choice=force. I cannot contribute to another before-tax deductible plan if my company has one....at least that is my understanding. Therefore, it is CYTEC stock or nada-lotta.

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