If my memory serves me right, AM promised employees with a management investment program, 10% of the shares of Avaya post exiting chapter 11. Where is my cut?
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The MIP wasn’t forgotten, it is waiting to be distributed to all his Vonage friends who have started joining… Sad but true…
Alan absolutely HAD power over the PE groups back when he was negotiating the terms of the whole pre-packed bankruptcy. In order to go along with the whole thing, he made sure HE got HIS, and I don't mean the $10M bonus, that's the distraction, I'm talking about the ~10% MIP equity in the new company. I guess he must have forgotten during those negotiations to take care of his employees...Remember...WE all paid for HIS equity with our stock, ESPP, and RSUs.
It's so sad that any of you believe CEO has any power when Avaya is owned by Private Equity.
This example is absolutely spot on about what Apollo will initiate with Avaya. It's too soon after BK. Likely after Engage the REAL cost cutting moves will begin. You've seen nothing yet!
https://www.nbcnews.com/news/investigations/after-buyout-union-workers-get-lesson-modern-economics-flna1c7750361
(PS. This is dated 2012 yet it doesn't change it's relevance. Apollo has gotten wiser and has found ways to contol all narratives . Also, journalism has evaporated since that time. Be rightly concerned about the silent giant who calls all of the shots)
Noise it was just noise to keep you a--holes sweet through Chapter 22