GameStop's New Billionaire Boss Calls For 'Extreme Frugality' In Email To Staff
https://kotaku.com/gamestop-meme-stock-gme-ryan-cohen-ceo-email-layoffs-1850884730
Ryan Cohen told workers the company has no use for 'delegators and money wasters'
https://kotaku.com/gamestop-meme-stock-gme-ryan-cohen-ceo-email-layoffs-1850884730
Ryan Cohen told workers the company has no use for 'delegators and money wasters'
Ryan specifically says
“I’m not getting paid, so I’m either going down with the ship or turning the company around. I much prefer the latter.”
I assume he’s not taking a salary for his role. I highly doubt that extends to the rest of the c suite though.
But is he getting a hefty stock based compensation package? Can he sell those stocks before he bails?
Then he's not using those stock sales to help the company, he's using it to enrich himself.
Yes, and he’ll do the old “force austerity to temporarily drive up profit margins for a quarter or two, then once it’s clear the next quarter will be crap, sell all of the stock that was awarded (auspiciously with a very short vesting window, if not just given outright)”
Typical bs, probably worth shorting this stock over the next year or so
He has 0 salary, he isn't getting paid for any of this. Hence the end of the letter. You obviously didn't even read it.
I expect everyone to roll up their sleeves and work hard. I’m not getting paid, so I’m either going down with the ship or turning the company around. I much prefer the latter.
Billionaires can afford to not get paid. Billionaires expecting normal people to get paid less is the pinnacle of arrogance.
he isn't getting paid for any of this
Ah yes, billionaires making business decisions out of the kindness of their heart. Super likely.
These people don't make the bulk of their wealth through a paycheck.
No shit, he's an activist that bought in and turned the company around when it was being run into the ground by consultants working for short sellers. He owns about 15%
Now compare that to executives with no personal stake in their company, making millions in salary and not giving a fuck about anyone else
Superstonk mods have been compromised for a long time, silencing discussion of various topics and derailing discourse. Not to mention thousands of bot accounts manipulating what gets seen. The original members have partially moved to other forums and lemmy