Are you worried about the P&G proxy vote?

[jmecklenborg]

Again, terrible analogy. Baseball's free agency means a core of drafted players can't stay together, especially for medium and small-market teams. Not sure why you're bringing this up in a thread about the imminent breakup of one of the 20 biggest companies in the United States by a weasel from New York.

[Chemistry_Guy]

Originally Posted by jmecklenborg

Again, terrible analogy. Baseball's free agency means a core of drafted players can't stay together, especially for medium and small-market teams. Not sure why you're bringing this up in a thread about the imminent breakup of one of the 20 biggest companies in the United States by a weasel from New York.

The analogy is very appropriate in this case. A long term approach (paying for scouts) is similar to the strategy that has made P&G successful for generations. A short term approach (firing the scouts to improve the bottom line next quarter) is what is advocated by Nelson Peltz.

[jmecklenborg]

No it's not. There is little to no relationship between the current or long-term profitability or current or long-term value of a professional sports team (depending on the league) and its performance on the field. A team with a terrible record can be more profitable than one that wins championships.


Teams exist for the ownership, not the fans. There are no "fans" of P&G.

[motorman]

Sadly to say, what many of us assumed would inevitably happen, happened...
https://www.wcpo.com/news/local-news...tors-after-all

https://www.bizjournals.com/cincinna...-to-board.html

Rather than regurgitating my own loathsome feelings for Nelson Peltz, expressed elsewhere in this thread, the only thing I'd like to reiterate at this time is that Greater Cincinnati just received one of the worst Xmas gifts ever bestowed upon a metro. Although for us this news is devastating, for their own reasons the business world finds it important enough that it has already been featured in numerous other sources, including this one:

Nelson Peltz Voted to P&G Board: Will It Lead to a Breakup? | Fortune

[JoeP]

As someone who lives outside the area, can someone explain why the company is hurting?

People still need and buy many of the staples that they sell.

[motorman]

Originally Posted by JoeP

As someone who lives outside the area, can someone explain why the company is hurting?

The best source to get the big picture of what has gone on and answer your questions may be this recent article by Aaron Renn, a highly respected urbanist...

What Does the Future Hold for Procter and Gamble in Cincinnati?

The article itself is explanatory enough, but also note what rkcookjr said in the comments section:

The impact to Cincinnati if Peltz succeeds is the same as the impact brought by every other “activist” investor or corporate raider since the Reagan era — devastation in the name of making a few people rich. There are those who like to divide the economy into makers and takers, with the rich always the makers (or “job creators”). But Peltz and his ilk are nothing but takers. They don’t make anything (“R&D is a hobby”) — they strip-mine companies to put even more money into their hands, with no regard for customers, workers, the world economy — no one but themselves...

[WILWRadio]

What I fail to grasp is while the second recount showed again that Peltz was short on the votes to get a seat in the Board, somehow he managed to get a seat simply because he had some backing among some people in the company and they "felt" that he deserved it. Using that twisted rationale how many Presidential elections would suddenly change?

And now we have to wonder just how much damage will be done to the local economy if Peltz gets all of his wishes granted? This merits real concern for any property owner in the area and for anyone working here as well. Property values have been rising steadily for a while now, home sales are strong and the job picture is good for many industries. What now?

[JoeP]

The best source to get the big picture of what has gone on and answer your questions may be this recent article by Aaron Renn, a highly respected urbanist...

Thanks, I actually do follow his blog, but missed this one. It's a good summary of the situation.

I'm wondering why the company is hurting though?

[WILWRadio]

If P and G is hurting now, just wait until they start to dismantle the company and break it up into little bite size pieces. Since so many people in the Cincinnati area rely upon this country and those that provide support services to it for a living, the impact on the economy is likely to be catastrophic if it does get torn apart.

[motorman]

Although I'm reluctant to post another link concerning P&G for fear of becoming tiresome, I believe that a New York Times article warrants attention because of how it strips the Wall Street predator Nelson Peltz of his beguiling persona and exposes him for what he really is...

* https://www.nytimes.com/2017/07/17/b...ntentions.html

Unfortunately, this article - which could have served as a warning while being informative - is a bit too late. Now we're listening to well-scripted "niceties" especially tailored for public consumption such as these two gems...

From P&G CEO David Taylor, as quoted in the Cincinnati Business Journal:

“We respect Nelson Peltz as a highly engaged shareowner and investor, and look forward to his contributions as a member of P&G’s board,” Taylor said. “We have had constructive discussions with Nelson, and we are committed to working together for the best interests of all P&G shareholders.”

From Nelson Peltz, as quoted in Bloomberg:

“I believe in the tremendous potential of P&G,” Peltz said in a statement Friday. “I look forward to bringing fresh perspectives to the boardroom, and working collaboratively with David and the rest of the board to drive sustainable long-term shareholder value.”