I work for Lowe's selling appliances, and as some of you who follow Lowe's know. Lowe's changed our payplan early this year with 3 days notice. Before the change we made money (spiffs) on items we sold, now we get nothing. Lowe's did give us a "allowance" in place of the spiffs but it is not close to what we lost. So if you are a share holder should you care? Well since this started appliance sales are down, you see just like you and our ceo niblock we are also motivated by our own self interest. There was a time when I enjoyed coming to work, if I worked hard and found a way to make the sale I could put money into my pocket. Now I come in punch the clock do my time and go home.
This leads to the storie of the 98 cent pen. I had a young couple come in to buy a large number of appliances. The guy was a bit of an #$%$ and acting like a big shot for his girl. But he was a customer, so I just smiled and helped them find a kitchen set and washer and dryer that they liked and was set to make the deal. this was near $6000 in sales. The whole time I'm working with them the guy is going on about how good his credit is, how I better give him a good deal and that I need him a lot more that he needs me so I better treat him right. Then as I'm putting him information in the computer this guy says to his girl, "watch this" and says to me "One last thing, I like that pen you have, how about throwing it in with the sale." The pen was one I paid for so I told him no. The guy get up set and tells me I have to give it to him or he will walk. In the end I still have my pen and Lowe's lost a sale. Before our payplane was changed that sale would have paid me well over $300, now it's worth nothing so i will just keep the cheap pen.
This is what happens when the ceo takes from people making 45-75k but he still takes his stock options, Just this week we see niblock made millions with his stock options. But he has the balls to tell us we should not need any extra incentive. Well lead from the front you spineless weasel.
I have been a full time employee for Lowes for nine years and I and never been in a management position with them. Having said that, let me state I consider myself lucky to employed and not to mention have full benefits with Lowes. I consider myself fortunate to have my job with Lowes and for disgruntled employees to go into a public forum and complain about their job is troubling to say the least. Every company has unhappy employees for some reason or another (most have nothing to do with their job to begin with). Any company trying to survive in todays climate are looking for ways to improve the bottom line to stay in business any keep you employed. Just be happy you have a company like Lowes to work for in the first place.
If that unhappy go find another company that will give benefits and job stability like the one you have now.
Sentiment: Strong Buy
Sorry workers don't owe anything to Lowe's for "giving them a job". Lowe's pays a wage to the employee for work as a mutual agreement between company and employee. So any employee has the right to voice their opinion on a company they work for... especially if the company changes policy that negatively affects said employee.
Sentiment: Strong Sell
@ rlewis - I am glad to have a job in this economy, glad for my (dwindling) benefits, and glad to have done so much for Lowes over the years. It is obvious to all of us, however, that you did not have 25% of your income ripped from your budget on 3 days notice. You obviously haven't had to scramble to figure out how to meet all of your financial obligations every month on a suddenly smaller paycheck. I dare say that you never considered sales to be your profession, not just a job.
Those of us who remain with Lowes have earned the right to be somewhat bitter over the things we have lost. We stay mostly because we have no opportunities to find that "other job" that will give us back the things we worked so hard for. The "98 cent pen" story is truly indicitive of what we face here at Lowes. I have encountered situations like this myself, and have found myself reacting the same way. Money is a powerful motivator, and when you take that motivation away, what was once a career becomes just a job. If you cannot see that simple fact, then you will never have a career. I have over 30 years in appliance sales, and am proud of the things I have done in my career. So, take your nine years on the aisles of Lowes, fronting and facing product, doing endless IRP's, cycle counts, and floor mopping, and just stay off the subject of what a professional salesperson does and what they are deserving of.
Thanks for the inside info. I still don't understand how this stock can be so hyped up. They cut guidance halfway through the year and the stock tanked to $25 and now its back to all time highs for what reason other than housing recovery and hurricane sandy? It's a joke really.
Sentiment: Strong Sell
Corporate has been very aggressive this year with a stock buy back program in addition to all the hype in the investment media about a resurgent housing market. In my opinion, it is all another house of cards.
The current leadership has no conscious.Appliance people are a necessary evil that they would just soon swat away like a fly,and thats regardless of your talents abilities or sales numbers.In the end the very people that helped lowes be a major retailer and successful are penalized the most.Its a sad day.