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Aon plc Message Board

  • maple1won maple1won May 4, 2012 7:59 AM Flag

    Earnings - whoops!

    Why can't these guys to a better job of managing expectations? Please keep the earnings call short. I don't know if anyone has noticed, but on past calls, the more they talk the more the stock price drops. Can they please start cutting costs. Executive Benefits would be a good place to start - the management in the Atlanta office is massively overpaid.

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    • According to the transcript notes, not the transcript itself, it would seem that Aon has completed and closed all restructuring programs, inclusive of Hewitt and Benfield. So dear Crista has nothing to add in future calls, except if Greg decides that another restructure program is needed which - by McKinsey rules - is ALWAYS THE CASE (no pun intended). What about the $300 million saving CSC was to deliver to Aon over the seven year life of the outsourcing agreement? Not a word anywhere on that one.

      Pass it on.

      • 1 Reply to retiredexaon
      • You're correct pay attention to the notes.

        How did they miss the foreign currency loss of $.06 a share? That's not even close when they are only paying $.15 in dividends. Maybe they were taking tips from Corzine at MF Global.

        Organic growth with Risk? They have a 90% retention rate and they are growing the business by 4%? These numbers don't add up to a net positive. Maybe I'm missing something.

        And you can forget the BPO and Consulting side of the notes. Looks like they break even at best.

        It's all about organic growth and not making bad bets in foreign currency, the latter which I can't figure out. For a London based company now they should be doing better than a $.06 a share loss.

        And what's up with the share buyback at all time highs when they continue to run the printing presses?

        And this is funny,

        "While we are not satisfied with margin performance and working capital management,"

        http://seekingalpha.com/article/561501-aon-s-ceo-discusses-q1-2012-results-earnings-call-transcript?source=yahoo

        Is that not an understatement considering the recent 8Ks.

    • Aon has been "fat on top" for a number of years (I promise - that's not a reference to Case...really...). When they started their initiative back in 2004/2005 to "hire the best", all they did was to hire more top level VP's that didn't do much other than come up with...more initiatives. They placed little/no value on those that actually help to keep/maintain clients.

 
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