I worked for Ashland for 16 years & bought their stock for most of those years. I don't think I paid less than $25 for each share, but I am sure I paid a lot more most of the time I was there. I worked for Valvoline during those years and had lunch with JOB while he was there as the president, during his "lunch with the president". What a joke! What I know of JOB is he was some sort of accountant in Dublin and somehow got to be in charge of Branded Marketing. You know, the Ashland stations that no longer exist, right? I think the only thing he did there was redo their signs with that nifty swirl and Ashland in the middle. I went through so many downsizings with this nut and so many of you have done the same. The reason I wrote this is that I kept my stock and it is worthless now. Ashland is mostly owned by the employees, last I knew. So I would like to invite the employees and ex-employees to go to the next meeting and vote this nut out. He has no idea what he is doing, not a clue and it would be nice to give him a taste of what he has been dishing out. Has no real experience with being a CEO and no background to back him up. His claim to fame is sucking up to John Hall, who most of us admire and respect, except for this oversight. I left my shares the way they were for the dividend, and see what it got me. Yes, I am pissed off.
Every thing that he touchec failed. All of his ideas failed. Process centering, global1, marketing initiative, new growth projects, growth office,centralization of the business, regionalization of the business etc etc. Now, of course, the biggest failure has been the destruction of 90% of the shareholder value. And of course the Hercules acquistion- overpriced, badly timed etc. The man is a LOSER. Where is the BOD?
PS Let me add the people appointment that he made as well as those that he drove off leaving him only with incompetants.
Don't be intimidated.
You have every bit as much right to post as anybody else. Put 'em on "ignore" in your own mind, if that's what it takes, and keep on posting.
Just because no one else of like mind speaks up, don't assume you're not being heard or agreed with. I read a lot of posts I strongly agree with, but don't make a comment on.
Grains of truth here. Much of sr. mgmt. doesn't think those "under" them know much, even calling them stupid and bragging about plans to fire them. Consequently, those "under" them don't respect mgmt. Sadly, the project charters, pretend process centering (if it suits mgmt), committees and resource groups controlling what the business is allowed to do, rather than enabling success with customers, has crippled Ashland. Still many places to hide and underperform or not perform.
And before you tell me to quit whining and leave, I already have.
I don't agree with you at all! I feel if a leader has a good plan and the employees and stockholders are stimulated by his or her presentation people will be on board. The problem seems to be with this company from what i hear is there is no unity. People want to make a difference and a good leader knows how to give credit to his people instead of himself. I almost feel that the employees feel there is arrogance with the top people and they have no respect for the people that work for them. Most of my life I got the greatest ideas from my employees and they were celebrated for it. I feel arrogance is at the top at a lot of companies and that is why they are doing so poorly. You will put in many more hours for a boss you love. If you go to work and don't laugh and smile doing your job something is wrong with the environment. Top people should have people skills and try to convey that they want to do well for the people that work for them, it is a team effort!I don't blame a person for being mad because the stock price goes to nothing.If things don't change the company should look for all top 4 to go and board too!
You're a complete idiot lunacy. Perfect name for you. You are obviously one of the Ashland losers who are drinking the Assland Kool-aid. None of this crap is proprietary. Everyone on the busienss knows about CIPS and Quick-Tile and all the other stupid ideas. Get over yourself. There are no secrets in this business.
Experienced at this lunacy: you're the one who is busted. Bluto posted at 12:42 - I guess he isn't entitled to a lunch hour? If he is remote, he's probably using his home computer anyway.
You appear to be an insider since you know the names of projects (QT and CIPS are proprietary development projects). If so, you are most definitely posting during work hours (3:54 PM today). If you are not an employee, petty move to call HR to "report" someone for posting on a stock board.
It would appear as if the sellers are out. Daily volume has dipped about 30-50% over the last week. As such the price has floated upward.
You will recall that two really big things happened that would create sellers in addition to the general market anarchy. ASH was kicked out of the S&P 500, meaning all funds matching this had to sell AND the stock price dipped under 10, meaning many money management firms need to sell as it is now a "penny" stock.
Given some marginally positive news, ASH will double in the next 12 weeks. Deep money call options may be a solid investment.
Hey Bluto- I do not believe you have a new job. IT has been notified and they are looking through the firewall records as I type. Get out your "Bedazzler" and get you cardboard box ready.
Make the stockholders happy mentality is a farce, it was only a cover to hide the unsustainable artificial high short term profits so the CEO and his executive VP staff could draw higher bonuses while they destroy the company. And this has been done across corporate America helping to contribute to the problems in this country when they should have been investing in research and developement for long term growth and profit. Instead the R&D has been left to overseas companies which has put U.S. companies at the long term disadvantage. But they got rich which was the only inportant thing. A prime example of greed at the top once again.
You know when Ashland started going to hell in a handbasket? When the "we gotta please our stockholders, ONLY" mentality took hold. Before that, ASH was in much better balance. It was a reasonable place to work. Most people weren't over paid, but it was do-able life with good future expectations.
While I think the stockholders SHOULD expect a return on their money, it's gotten to the point where Wall Street has turned companies into nothing more than a giant milk cow, and one that they don't even want to feed.