I dump AET at $56 and ignored this stock until now. Next this I know Hubbert is out and Donaldson is in.
TX's e-mail, I believe, have alot of merit. Let me explain.
For a long time TX has pointed out that AET communications director hasn't exactly set the world on fire with detailed and accurate press releases. Then today a bomb goes off. Hubbert is out and its immediately announced that Donaldson is in.
Having been a long time AET stock holder (until recently) I remembered this guys name from the early 90's. Then I think, this guy's got to be, what, 70-ish years old. Then it comes out in a AP article and a Reuters story. He's 70 years old.
Why is this significant? Well, Hubbert was set to retire at 65 - the age reported to be the manditory retirement age for AET's CEO. So how does a 70 year get the job?
Interium CEO? DUH.
Next, none of the stories on this news mention what Hubbert is going to do with all his free time now that he's tanked AET. Ah, could it be, nah, it couldn't. Could it? Will Hubbert sit on the Board? No one's saying.
So I don't own any stock right now. So what. I'm still troubled by what I'm reading and what's being said. Or worse, what's not being said.
You'd think with the drop in value the communications people would pull their heads out of their asses and figure it out. The street is tired of vague news and half truths. They just don't get it.
I'm still out for now. I will monitor things for a while before buying back into this stock.
BTW, my friend at AET said the internal communcation this afternoon from Donaldson was classy. His message sounded serious, and was met with optimism. Word within AET is that ee's are actually hoping for a signficant shake up within AET. Names that the employees seem to want canned include Kardillo, Weber, Nollan and just about anyone from the old U S Healthcare.
<<< ...what Hubbert [sic] is going to do with all his free time now that he's tanked AET. Ah, could it be, nah, it couldn't. Could it? Will Hubbert sit on the Board? No one's saying. >>>
I though 1 of the press releases said he was also off the board. Really now, it would be quite awkward to stick around.
As for his free time, there's a huge revitalization project (Riverfront Recapture -- where the dang political fools wanted to build a stadium for the NE Patriots a few months back) in Hartford within a few blocks of his house. I'll bet he'll get involved in that . He also likes to travel, so he'll do that for a few months. By the time he comes back from South America or wherever, The Donaldson will have sold off a few parts of the old co (IMO), and he won't even recognize it.
<<< You'd think with the drop in value the communications people would pull their heads out of their asses and figure it out. >>>
They say what they're told to say. Huber was no pro at communications, as you might have noticed.
probably be paid in the millions for the rest of his life. Lynn is going to be, and probably old Ron. The Governor will probably appoint him to some bogus commission. These guys never take any hits. They take care of each other. And, they complain that good doctors are overpaid, costing them money.