Since Chris Kearney has taken over from the dishonest John Blystone SPX stock has gone down, while Kearney and his team have gotten rich. He owns over $24,000,000 in stock and has no clue how to create a growing company. The CFO is no better.
I see them dancing around at Barrett Jackson auctions and wonder what other escapades are going on. You guys should be ashamed of your performance.
Chris is a "nice" guy compared to the evil Blystone. However, he was given 130,000 shares of stock last March. Shareholders get nothing, but poor dividend and zero appreciation.
Corporate executives who create value for shareholders deserve to be rewarded, but as in the case of so many companies SPX is being looted by insiders who retire rich and leave the stockholders holding the bag.
The corporate board structure is to blame. With insiders and good old boys running the store how can investors get an even break?
I was RIF'd by Waukesha Electric along with about 70 other folks in 2002. Since then they have become unionized. Now I understand that Waukesha Electric is being renamed "SPX Transformer Solutions". Are they ashamed of the name Waukesha? Top