Chuck is a master of negotiation. $70/share was a 46% premium when it was agreed on in July '19. At $115/share, the purchase is a 250% premium on the original price. Now you know why they have to layoff 10,000 employees.
18 replies (most recent on top)
he is actually on the Blackrock board - does he not have enough to do already ?
As well as the millions he takes from Cisco, Yahoo finance shows Chuck has been granted options at zero cost in Blackrock. They are recorded as the second largest holder of Cisco stock so this looks a bit off. Values are small compared to his take from Cisco but if true it still looks bad
BLK 2021-01-15 325 N/A Stock Award(Grant) at US$0.00 per share.
BLK 2020-12-31 35 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2020-12-04 2,500 N/A Stock Gift at US$0.00 per share.
CSCO 2020-11-19 242,774 US$9,964,000.00 Sale at US$41.04 per share.
CSCO 2020-11-10 448,691 N/A Stock Award(Grant) at US$0.00 per share.
BLK 2020-09-30 44 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2020-09-18 195,931 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2020-08-19 7,806 US$329,000.00 Sale at US$42.10 per share.
BLK 2020-06-30 46 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2020-06-19 10,000 N/A Stock Gift at US$0.00 per share.
BLK 2020-05-21 471 N/A Stock Award(Grant) at US$0.00 per share.
BLK 2020-03-31 57 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2020-03-10 1,000 N/A Stock Gift at US$0.00 per share.
CSCO 2020-02-18 3,910 US$182,000.00 Sale at US$46.53 per share.
BLK 2019-12-31 49 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2019-11-22 208,084 US$9,328,000.00 Sale at US$44.83 per share.
CSCO 2019-11-20 414,085 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2019-11-18 12,597 US$564,000.00 Sale at US$44.81 per share.
BLK 2019-09-30 56 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2019-09-18 107,718 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2019-09-13 18,955 US$949,000.00 Sale at US$50.04 per share.
BLK 2019-06-28 53 N/A Stock Award(Grant) at US$0.00 per share.
CSCO 2019-06-06 1,000 N/A Stock Gift at US$0.00 per share.
BLK 2019-03-29 620 N/A Stock Award(Grant) at US$0.00 per share.
Most decisions are made to ensure job security. The CEO surrounds himself with people that lack the skills and experience to threaten his job. This incompetent culture trickles down.
It's the old friends and family plan. Cut the lower level stock incentives but give it to the incompetent leadership team, cut bonuses down to 25% but promote some of the most undeserving directors to sr directors, give that imbecilic maria and her stooge alvio more responsibilities when they have screwed everything up to this point. This place has become nothing but a funding source for a chosen few and a way to pander to certain crowds by putting clowns in decision (bad) making positions. The fact they are on a new college hire push tells me they are working to drive salaries down. They don't get that it is going to dilute the little in services they have been able to sell the past 2 qtrs.
Cisco has way over-paid for acquisitions for years....always made me suspicious about the internal process of acquisitions. The last reasonable purchase I remember was in the mid-2000s timeframe.
Yeah, the NDS acquisition for $5B and then selling it off for millions. There's a $4B+ loss.
Money laundering
- the Art of The Deal......
LOL
Cisco has way over-paid for acquisitions for years....always made me suspicious about the internal process of acquisitions. The last reasonable purchase I remember was in the mid-2000s timeframe.
This reminds me of Chuck's App Dynamics 11th hour panic purchase for $4B that went nowhere and all the employees left and now compete with Cisco
Cisco needs new CEO ASAP
Think on how many prior employees' family life cadence was disrupted due to LR to fund the purchase.
Miss some of it but overall glad to be out.
No. Common. Sense. At. The. Top.
Well, isn’t he a math major? If so, he should know?
As soon as their shares vest, they will all find the door quickly.
Good for Acacia. Anybody who rips off Cisco is my friend.
The CFO came from Autodesk. That was the best we could do. In over his head.
wouldn't 100,000,000 have been cheaper?
This is exactly what Chuck is expected to do and how he receives his bonus. The idea is to transfer (steal) money from the general shareholders like those with 401k and retirement savings into the pocket of a few elite “investors”. The scheme has been going on for years.
Where will the CFO hide all the debt?
No worries, they'll just print up some more Cisco stock....