Can somebody explain to me what exactly is meant by the term "technology powerhouse?"
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Its B.S to make new folks to put money in a company with outdated machines and no new products to offer....
Cutting costs is one thing, but from where I sit in a SAG function there is no vision beyond that. No sign of leveraging those who may have ideas, no sign of shaking the branches for people who do. Tech powerhouse seems to be a concept to keep the remaining staff optimistic about a future to prevent loss of critical personnel.
@Wrv7H8F-1sgo Not to mention the $11.5 Million bonus he got for walking in the door, which was approved by Icahn's board. Everything about his comp package says 'short-term.'
Never lost sight of the fact that Visentin's stock vests instantly at change of control, at termination without cause, or after one year. He sure does have a lot of fast vesting options for someone who is supposed to be here for the long haul.
You nailed it @Wrv7HBF. Need new leadership to chop what needs to go and build on what’s left that is viable. May sound like Icahn to the legacy Xerox people; it is the only way the Xerox name survives. Bets still out on whether John Visentin and his “select” team (Not SM-W, WO, HT, MDF, SH) includes (SB, MM, JC-S, RB) are in it for the $$$ or are for real in rebuilding this brand. If not for real, then shareholders leave as soon as viable. Shareholder choice in how your sensibility test their sincerity as it is your money on the line.
If not for real; then look out to any company hiring John Visentin, Steve Bandrowczak, Mary McHugh, Joanne Collins-Smee; they’re either Icahn puppets or only in it for their bottom line (not for you who hire them’s bottom line).
..... understand there are lots of bitter and disappointed people in/out of Xerox. But the company is so behind the times.... no wonder there are now non-Xeroids in charge.
= not Xerox !
I means making up $hit by desperate execs who are worried their $!
It means JohnV is blowing smoke up your rear. John cites some areas where Xerox is dabbling as support for this claimed goal. What is being done in these areas like, DTO, 3D Printing, AI, has the same level of commitment as all of the prior technologies Xerox failed to capitalize on.
There is no chance of Xerox becoming a tech powerhouse. It's a scam to pump the stock price. John, Icahn, Deason, and the EC will be long gone by the time you figure it out. Look at all of the old time execs jumping ship.
It's a marketing tag line targeted to make Xerox look cool and attractive to the Street and investors and/or companies that may want to buy Xerox.
It's something they say to fool people into thinking they actually intend to run this company long-term, when the truth is quite the opposite. "We want to retain young talent" yet Xerox has some of the worst benefits now in the Rochester region and when compared to peer companies, and no where near the benefits of any tech companies that I've ever interviewed with. Icahn doesn't run companies. Visentin runs them until he can sell them to private equity. Listen to what Steve B. said in his town hall. He was part of the HP split, and also part of the team that sold IBM's hardware division to Lenovo. These guys get paid to sell the company one way or another. "Tech powerhouse" is just a line to keep people from making a mass exit for the doors until they sell the company.
Yes this means a powerhouse of technology,duh.