Oh, Joe, the TX issue is not a short term problem.
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Thats all she wrote
Not sure of all the nicknames used, however I pray not for the BOD or new management.
This is nothing but the board and their greedy a– ways with JZ working as their personal puppet. I joined Molina years ago bc of the very foundation of what it was all about..helping those who couldn't help themselves. Now, we sit here as a company that is barely able to cover the debts they created. Investors think all is well bc of the way the numbers are fudged for quarterly reports. I think its time to file a complaint with SEC about the way we as employees and shareholders are being mislead with lack of transparency in the "real" financials.
Some claim that Joe and the board have done wonders - I mean just look at the stock price. That's a hefty price 2 pay knowing that that huge increase was achieved on the backs of furloughed employees and outsourcing to other countries. It s—s Dr Molina that your name has to be attached to what is now some greedy insurance plan that nobody will know in a few years.
This is completely on the Board of Directors and Joe Z, whose idea of revitalizing the company is a race to the bottom attempting to turn Molina into a mini United Healthcare. The large stakeholders (hedge funds/ pensions) will NOT be happy about this. That's the only pressure Joe or the Board cares about. Trust in the fact they are on the hot seat. Another couple of quarters like this with no growth and there will be blood.
Anyone weeping for the loss of Texas is a fool. As a former network employee in Texas with Molina, I left last year after 6 full years with the nightmare that was Molina Texas and can say that Molina Texas was always a mess. Issues to numerous to mention, but those of you that know totally get it.. main issue was always inept people in management positions knowing nothing and unafraid to show their ignorance.. no one ever really cared that could have made a difference from CEO on down to department heads. So much turnover and no culture of success. Just a waypoint for the talented on the way to better jobs and a dumping spot for the healthcare mo–ns that couldn't even hope to manage their sock drawer. So I say, good riddance and happy trails. Molina Helathcare was allowed to linger like a corpse in your livingroom for way too long.
TRust me, in the last two years of the Molina brothers we entered NY, added to Fla. won PR and MS - were on the verge of bidding more states. The BOD and CEO halted all growth. This may be the reason many are calling for a restructuring or terminations, their strategy was ill advised and flawed.
The Brothers were just as bad. They are not heroes and were in it for personal profit. This whole mess has been going on for a while. But the current leadership kept low performers in place and added a few more
Let’s see...we lost New Mexico, Florida and now Texas. I fear for Ohio and California. We never lost this much when our Brothers were in charge!
Well let us hope he and his "Team" are not given more dollars for this performance. Sad to say but it is the poor Texas team that will be given the accountability in spite of the prior earning releases indicating it was his new team that is responsible for the PR renewal.
Sad that Texas colleagues will be losing their jobs because of this....
Poor guy, I hope joe can survive on the 15.2 million he made in 2018.