Yes but the employees got to pass around a ball for that investment.
I didn't mind the pay freezes. I am actually not made about being laid off by Aon. Those things happen in life and some times they just don't go your way.
But I will never forget the day they announced Man U after the pay freezes and thought having employees pass a ball around was a good idea. To be punny-- whoever thought that one up "dropped the ball".
Even if the answer is zero shareholders came out ahead. If Aon spent $100 million to sponsor Man U, and they cut $100 million worth of costs to pay for it [meaning layoffs] that is break even. And Aon saves the hassle of managing $100 million worth of employees, freeing up management to concentrate on creating efficiencies elsewhere which should create shareholder value.
Please AON keep spending $100 millions of dollars on things like Manchester United. Keep up the RIF's. Keep telling your sales force they can only spend $25 on dinners in New York. Please keep taking away parking and reducing retirement benefits. Please Please do not fire ANY McKinnsey alumni. They are so good at building shareholder value at the expense of employees and clients. Your competitors love pointing out these issues to your clients.......
Seriously? So...let me get this straight. It's better to spend $100M to put your name/logo on a jersey, than it is to make sure that your operations as an insurance brokerage are adequately staffed so that you can serve the risk management needs of your current clients, and use that to attract new clients? And...in tern, increase revenue. Why wouldn't the shareholder want that?
Love the buzz phrase - "creating efficiencies elsewhere". What a load of crap.
Your logic is so flawed it is not funny. Aon did not cut employee count, they bought Hewitt and increased employee count. And there is zero direct linkage between Manchester United and Shareholder value. Street people have never asked Porky and Crista (the Axe) about ManU. Why should they? All it represents are plush seats for executives in London to take customers out for a good time. Nothing more.
Don't equate it to cutting staff, Porky doesn't need any reason to do that. Does it quite well without ManU.