Wednesday, May 13, 2009

bmw ... AGM

annual general meeting ... let's see tomorrow how does the CEO & board of my struggling employer see the future for the company. i suppose it isn't rosy ...

well, after bmw presented its 2nd consecutive loss and 2nd worst quarterly result for approx 5 years a week ago AND the stock soared 7% (!!!) just because the stupid, corrupt analysts expected even a worse result facing that unbelievable stupidity i can just tell you: we earthlings are freaking doomed !!!

should i bet a tasty caipirinha in bmw employees' favourite pub / beer garden ziegelhaus that the most ugly phrase tomorrow will be 'financial crisis'? why? well, it is much easier to find some explanation for poor performance outside the company like dollar weakness (or strength and vice versa), high commodity prices, financial crisis etc. than to confirm own incompetence :-)

the highlights of the AGM: folks, it was soooooo boring today! the worst of all munich's AGMs i've attended this year :o(. they spoke a lot but said just sooo little! they've presented this worst result for the whole decade as a success, unbelievable! we are freaking doomed! btw, the earnings dropped by 90%, would u call that a success? would u be proud of that? probably not ... the time line of that AGM was also strange, i would like to hear some answers to few very well asked shareholders' questions, but they've waited sooo long with the answers that i've decided to leave that stupid self-arranged celebration of management's incompetence and went into my office in order to continue my day job ...

i'm worrying about their inability to:
  • change radically
  • take the right decisions
  • motivate and empower employees to work hard

what will they do instead? IMHO, they will just continue to

  • overpay their already sooooo numerous, aged, convenient (lazy?), overpaid management staff
  • continue to close their eyes for employee suggested improvements (just look at this huuuge area of craziness ;o)
  • isolate themselves from the real life out there ... just imagine, there were just 2 notebooks for the visitors with nearly completely forbidden internet access (there were just 2 (=two!!!) websites outside the bmw network allowed. btw, in the other AGMs (wacker chemie, siemens, man, allianz, munich re, ...) there is full internet access for all attendees (shareholders, investors, analysts, journalists, ...). why not @ bmw? what are they afraid of?

have there been also s.th. positive there? yep, i liked the probationary sitting in the rolls-royce phantom, took pictures of some old bmw cars, drunk some coffee, met a former colleague ...

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