https://www.texasmonthly.com/news-politics/att-warnermedia-hbo-mistake-discovery-merger/
Perfect description and characterization of what a failure and subhuman the CEO is.
13 replies (most recent on top)
REALITY: The good ole boy’ club gets paid exorbitant amount of money to hold meetings and pontificate their grandiose ideas. Meanwhile all others show up nod their heads and hope the shoe doesn’t drop on their heads. Two classes : those that give the orders and those that take the orders.
"How does the Board not replace this guy?"
Haaaahaaaaahaaa....All BOD's these days are full of these egotistical phenoms! They have discovered another way to get paid AFTER their "5yr golden parachute of reign" has ended due to poor stock performance. Looks like the minions continue to be the only ones held accountable for the bad actors that continue to revolve in the big seats. The money is in the 5yr parachute, the validity of ego (and more money) is a BOD seat! It is the corporate worlds version of the "good ol' boys club" peeps
Exactly. It was amazing listening to those bottomless windbags telling us how they were boldly leading the company back to the future that everyone (besides them) knew we should have been doing in the first place. But by then it was too late.
"The numbers other executives chose to tout that day indicated that all was going according to plan. They talked about HBO Max rolling into sixty additional countries this year and the unveiling of a cheaper, ad-supported version that would allow AT&T to test its targeted advertising strategy. The company projected that by 2025, it would have 150 million subscribers on HBO and HBO Max, up from an earlier projection of 90 million. But just two months later, AT&T revealed it wants to go back to focusing on the pipes business."
There it is, the whiplash that sometimes I think was a bad dream. How many of us remember it? A "fireside chat" (or was this a town hall?) where in July Stankey focuses on being a verticalized multi-media company, then in October nothing but fiber, wireless, and government sales with a terse "thank you" to soon-to-be former WarnerMedia colleagues, barely mentioning their results. Same guy, same bossy baritone, but a completely different message.
I wanted to do what I sometimes had to with my first-grader: sit John down on the couch, grab his hands, and ask, "Now can you remember what you told me three months ago? Tell the truth. I won't be mad."
Except in this case, I was. The stock that I held in hopes of dividends catching up on losses tanked. I could not believe the Board of Directors had such a short memory. I foolishly figured the dividends would rescue the investment I kept in company stock. I would have to 120 to break even.
How does the Board not replace this guy?
I remember when Stephenson held a town hall and told everyone that humility and a focus on customer service weren't as important anymore and that "we need to start showing some swagger." Then he proceeded to ruin the company.
Hey, Stankey has a deep voice and can eat hot wings! He can also rotate his hands in a weird pattern in Town Hall meetings and Webcast's when he doesn't know what the fhuck he is talking about, which is often.
If our stock was trading per share as big as his ego we’d all be filthy rich. If we could sell him for what he thinks he’s worth, we could all get 5,5 and 5.
“he seems to have no idea the extent of the damage he's done.”
Or worse, the damage he’s about to do. There are people with intensively deep knowledge and expertise working on next generation hardware to keep up with emerging technology and the competition. These teams are going to be decimated simply for being in the wrong zip codes.
His abacus counts 'starlets', not real money.
Fleshy bitcoins.
Remains popular with his old high-school pals, some say.
And camp pendleton, too. for diversity.
"His understanding of finance and technology is limited to placing quarters in pay phones." beautifully said.
I have no idea on how stank can walk into a t building these days.. he seems to have no idea the extent of the damage he's done. Id be happy with a 20% loss on my t stock and the only way i am gonna get there is if he leaves.
“you might think, ‘Oh, my gosh, this guy has like, a freaking MBA in finance. Oh, my gosh, no, no, this guy is like a deep technical engineer,’”
His understanding of finance and technology is limited to placing quarters in pay phones.
Interesting article - no surprise who's quoted s.....g his proverbial d:
“If you were to talk to [Stankey], depending on the topic, you might think, ‘Oh, my gosh, this guy has like, a freaking MBA in finance. Oh, my gosh, no, no, this guy is like a deep technical engineer,’” says Anne Chow, who leads the unit dealing with AT&T’s wireless and broadband for business customers. “He’s able to connect the dots in a way that perhaps others don’t.”
"The HBO Max release plan is indicative of how AT&T has long operated—charging ahead with risky decision after risky decision in hopes of making up for (or at least obscuring) setback after setback. It has repeatedly favored growing through acquisition rather than confronting the nitty-gritty of improving its network infrastructure and long-derided customer service. That’s why the boring old phone company bought into the glitz and glam of Hollywood. "