T.R | Title | User | Personal Name | Date | Lines |
---|
3483.1 | if there were enough room... | ROMEOS::TREBILCOT_EL | | Wed Nov 02 1994 17:58 | 9 |
| RE: -1
maybe if they held it at the Pontiac Silverdome...
;)
Home of the Detroit Lions for those who don't know...
|
3483.2 | My *personal thoughts* | ANGLIN::BJAMES | I feel the need, the need for SPEED | Wed Nov 02 1994 18:31 | 36 |
| I can't state clearly enough how absolutely incensed I was when I read
this memo from Mr. Farrrahar. I understand what the real message
behind the words is. Are we is such unbelievable trouble that we need
to have memos come out like this discouraging us from participating in
a given priviledge as stakeholders in this enterprise to not attend a
meeting to hear personally the good things we are and have been doing
recently and the areas for improvement.
It's a complete contrast to the last annual stockholders meeting I
attended. It was my customers. And belive it or not they recognized
us Digital in the audience as being a partner, helping them to achieve
their goals and objective during a tough business year. Kinda' felt
good sitting there hearing that for me and the ten's of thousands of
employees out there who back me up each and every day doing the
wonderful professional jobs that they do.
And now I receive in my personal account this memo crafted by true
politicians who are setting up boundaries and controls on my ability to
attend a meeting which I have a personal signed invitation in my had to
do so. Where's the trust, the commitment to actively show up at a
function and have the self respect and honesty to sit quietly when
other people are speaking about their areas of expertise and reporting
on how things went. Granted we had a horrendous year last year and I
am sure there will be factions of stockholders coming to this meeting
for their pint of blood, but I can't really fathom this turning into a
big ugly scene whereby disgruntled employees show up to stage an
inter-gallactic bitching session in front of CNN as it were. I think
we are all adult enough, at least I hope we are, to recognize that this
meeting has a function as prescribed by law and order to be held in a
public forum, with dignity and professional respect for all in
attendance.
Sincerely,
William L. James
Stockholder
|
3483.3 | Professional...NOT ! | TROOA::MCMULLEN | Ken McMullen | Wed Nov 02 1994 21:17 | 18 |
| I had the same reaction as the last reply when I read the memo
yesterday. I find it very difficult to understand how a senior VP of a
large corporation could send out such a memo containing such
pexpressions of paranoia and threats to the employees.
I do not know who Dick Farrahar is, but his memo has me imagining that
he is over 55, is scared silly about loosing his job and sent the memo
because he was innstructed to When do the security guards get posted
every ten feet and new cororate rules disallowing meetings of more than
three people go into effect?
And to think last week I heard another VP say "we must get our
customers to listen harder so that they can understand Digital's
strategy"!
I wonder if Dick Farrahar wishes he had an "unsend" function today?
Ken McMullen
|
3483.4 | ..just like you.. | GRANPA::IKOLMAISTER | | Wed Nov 02 1994 21:46 | 9 |
| FACT: BP has stated many times "I'm an employee, just like you..."
Question: Will he take Vacation, personal holiday, or leave without
pay?
Ira
stockholder/owner
|
3483.5 | Maybe I'll crash it anyways | WBC::DOERING | Wash BM Center 425-3216 | Wed Nov 02 1994 21:50 | 7 |
|
I am going to be in the GMA next week, and was planning on taking
some time off (mine) to attend. Never been to one, was looking
forward to it. Sounds like I've been dis-invited.
Randy
|
3483.6 | My thoughts on the memo | TOOK::MORRISON | Bob M. LKG1-3/A11 226-7570 | Wed Nov 02 1994 22:20 | 20 |
| I think Dick Farrahar was quite diplomatic about this. He recognized that it
would be out of line for him to tell people not to attend, so he said they are
"not encouraged" to attend. He also addressed some significant issues. Employees
who attend the meeting are unlikely to learn anything about Digital that they
have not already heard, or could find out thru internal channels not available
to the public. And it appears that some people (below the level of VP) have
tried to attend the annual meeting on company time.
Re space for the meeting: For at least the last 15 years, Digital has held
the meeting off-site. There are several reasons for this, one of which is that
Digital's large facilites are not in a central location for Boston's financiers
to go to, and accommodating large stockholders is the first priority. Since the
meeting is held in rented space, having more people attend would cost Digital
more.
I agree with .3 that the hidden message in the memo is asking employees not
to ask tough questions or otherwise take up a lot of time at the annual meeting.
If an employee attends the meeting and keeps a low profile, I don't see how
anyone can object, except for the very minor issue of taking up space. And
attending an annual meeting could be a valuable experience in terms of learning
what happens at these meetings. (Usually not much, but there are occasionally
"fireworks" at other companies' annual meetings.)
|
3483.7 | Why don"they want us there | ROMEOS::STONE_JE | | Wed Nov 02 1994 23:05 | 7 |
| It makes you nervous, Why don't they want you there, Is something
going to come out that would be so shocking that the employees might
rush the podium? I think the memo was RUDE. I hope someone goes and
reports back what the secret was. Maybe they are afraid BP is going to
get his rear chewed off by the large share holders. I don't think so
though, It seems we are out of the woods.
|
3483.8 | fwiw | ARCANA::CONNELLY | Don't try this at home, kids! | Thu Nov 03 1994 00:27 | 14 |
|
re: .3
Dick Farrahar was just appointed Personnel VP when he announced a plan to
change the the way US employees were paid to every two weeks instead of
weekly (not in itself a bad idea), with a paycheck covering the two weeks
PRIOR TO the week in which you would receive it--an illegal idea from the
standpoint of the laws in a number of states. The plan was retracted
after this little legal problem was pointed out.
Obviously the firing of the 3Gs occurred on his watch too. Other than
this memo, those are the only two things that have brought him to any
sort of broad employee attention so far.
- paul
|
3483.9 | Lighten up!!! | MNCHKN::SUMNER | | Thu Nov 03 1994 01:55 | 31 |
| > Employees who are
> shareholders are entitled to attend, however they are neither
> required nor encouraged to do so.
I read this as 'you can attend but we are not forcing you to
attend nor are we implying that you _must_ attend'. Perhaps the
wording could have been better but I don't see any obvious
devious intent here. If he said 'you _are_ encouraged to attend'
then everyone would want to attend, and OF COURSE at the expense
of company time.
> As in the past, eligible employees who
> elect to attend the meeting must take vacation, personal holiday or
> authorized leave without pay, and must obtain the approval of their
> managers to take the time off prior to doing so.
Unless somebody has documentation to the contrary, this appears to be
a standing policy, not something 'new' that Dick Farrahar dreamed up
so that a certain set of people would have something to complain about.
I also don't understand the finger-pointing at Dick Farrahar. What's
the deal, you all got some bone to pick with him or did changing the
clocks back an hour screw up your sleeping hours? I'm not sure he even
had to send the E-mail notification out anyhow, it seems like the only
'requirement' would have been to send mail via the postal system to
shareholders _ONLY_ (thereby ignoring everyone else).
Sounds to me like _some_ people need more fiber in their diets...
:) :)
|
3483.10 | One more thing! | MNCHKN::SUMNER | | Thu Nov 03 1994 02:11 | 18 |
| Oh yeah, one more thing...
> FACT: BP has stated many times "I'm an employee, just like you..."
>
> Question: Will he take Vacation, personal holiday, or leave without
> pay?
In addition to being 'an employee' BP is also a corporate officer
which makes this meeting an 'obligation' as opposed to an 'option'
for him. Although, I suspect he _will_ be wearing his 'corporate
officer hat' on top of his 'employee hat' at the meeting. And, from
what I understand, BP works much more than 8 hours in his average day
so I don't believe it's very polite, and borderline petty, to chide
him about such an issue (unless of course you meant to include
several little smiley faces in your message but simply forgot). :)
Glenn
|
3483.11 | he DID do good for us... | ROMEOS::TREBILCOT_EL | | Thu Nov 03 1994 02:22 | 16 |
| Dick Farrahar was a key individual who helped get the employee tuition
reimbursement program reinstated! It was to him that numerous memos
were sent on behalf of the employees, pleading our cases so that that
benefit not be taken away from what in my words were the companies most
valuable assets, its people!
My two cents worth...
(but it CAN be fun to read all the bashing that goes on in these notes
I'd worry I was at a Twilight Zone company if I looked through the
DIGITAL Notes File and SOMEONE wasn't getting chewed on...)
;^) ;^) ;^) ;^) ;^) :*) :*) :*) :*) :*)
|
3483.12 | | PASTIS::MONAHAN | humanity is a trojan horse | Thu Nov 03 1994 02:50 | 9 |
| The mail probably did some good for democracy. I had never taken
much interest in these meetings before, but as a result of that mail I
did send in my voting slips.
A quick scan through the list of directors indicated that they were
all getting more than 5 times my salary, so I decided that any that
didn't hold at least 5 times the number of shares that I do obviously
have less commitment to the company than I do and are therefore not worth
voting for....
|
3483.13 | Re.9 ;^) At the risk of creating a Rathole. | SUBURB::POWELLM | Nostalgia isn't what it used to be! | Thu Nov 03 1994 04:08 | 6 |
|
>>> .... need more fibre in their diet ....
I think that there is too much hot air around already thanks!
Malcolm.
|
3483.14 | I can't see the problem | HLDE01::VUURBOOM_R | Roelof Vuurboom @ APD, DTN 829 4066 | Thu Nov 03 1994 06:26 | 25 |
| I can't understand what all the fuss is about.
Me...I'm very pleased that Dick has taken his valuable time to
personally send me a memo uninviting me to the stockholders meeting.
Not many VP's giving personal attention these days...
Oh, before I forget... I will be holding my birthday end of the month.
The principal purpose is to catch up on old social contacts.
The available space is limited, and I want to make sure that
outside friends have every opportunity to attend.
My birthday provides an opportunity for non-employee friends
to hear directly from me. Employees who are friends are entitled
to attend this annual event, however they are neither required
nor encouraged to do so.
As in the past, eligible employees who elect to attend my birthday
must take vacation, personal holiday or authorized leave without pay,
and must obtain the approval of their loved ones to take the time
off prior to doing so.
Your support in making this a successful birthday is greatly
appreciated.
re roelof
|
3483.15 | | XCSDEV::ADEY | Sequence Ravelled Out of Sound | Thu Nov 03 1994 10:01 | 5 |
| The wording of this memo is such that I think the reaction is going
to be the exact opposite of the desired consequences.
Ken....
|
3483.16 | Easy solution... | 32954::JUDICE | May fortune favor the foolish... | Thu Nov 03 1994 10:16 | 11 |
|
Perhaps the company could diffuse this controversy by putting the
annual meeting on DVN...
When we set up DVN we often see other company's annual meetings being
beamed out to employee/financial analyst sites...
/ljj
|
3483.17 | | ROWLET::AINSLEY | Less than 150 kts. is TOO slow! | Thu Nov 03 1994 10:21 | 7 |
| re: .15
You've got that right. If I was within driving distance, I would have shown
up simply because he doesn't want us there. Unfortunately, I can't afford
the airfare, etc. that it would take to make the 1500 mile trip to Boston.
Bob
|
3483.18 | rhetorical question.. | GRANPA::IKOLMAISTER | | Thu Nov 03 1994 11:33 | 11 |
| Re: 3483.10
The question was raised as a rhetorical question, no funny faces
used or implied.
I was however lost on your "BP works over 8 hours a
day/politness/petty" statement. Everyone I know works regularly (very
regulary) over 8 hours a day, I would never chide BP for doing the
same.
Ira
|
3483.19 | real question... | AIRBAG::SWATKO | | Thu Nov 03 1994 14:30 | 4 |
| I wonder if Dick Farrahar will be at the stockholder meeting. A potential
ironic situation, I'd say...
-Mike
|
3483.20 | The opening question? | TROOA::CHOHAN | | Thu Nov 03 1994 14:46 | 3 |
| Now..now ...Who's going to ask the question at the AGM...
Why are employee stock holders not invited to this meeting??
|
3483.21 | | DASPHB::PBAXTER | | Thu Nov 03 1994 15:22 | 4 |
| It's not that we're not invited ...
it's just that we are not
> "required nor encouraged to do so".
|
3483.22 | timing is poor | TROOA::GILBERT | | Thu Nov 03 1994 15:29 | 20 |
| Sorry, but if I were hosting a shareholder meeting during these times when
Digital is trying to convince everyone that we are on the road to recovery
(and I believe we are; the industry writers still need convincing) the last
thing I would want is the potential for a bunch of employees just coming out
of a wage freeze and massive layoffs taking over the meeting and airing their
dirty laundry.
Just look at the tone of most of the notes in this conference for the past
year or two and ask if you'd want to give most of these people the
opportunity to speak in front of shareholders?
Digital employees are known for their ability to expose customers to the
problems with our company. We are honest to a fault.
Rights-wise, shareholders are allowed and should feel free to attend. Reality
wise, any employee who attends such a meeting and tries to publicly put down
the corporation and its treatment of its employees is only hurting themselves
and the rest of us.
Peter (a shareholder for as long as it takes to sell the stock every 6 months)
|
3483.23 | | VNABRW::REISENAUER | | Thu Nov 03 1994 18:26 | 33 |
| re .22
>>> .... the last thing I would want is the potential for a bunch of
>>> employees just coming out of a wage freeze and massive layoffs
>>> taking over the meeting and airing their dirty laundry.
I personally dont't remember to have too much dirty laundry (beside my
shirt from yesterday...) - but I accept, that there will be persons at this
meeting who possibly feel a danger that THEIR dirty laundry could be 'on the
air' suddenly.
>>> Just look at the tone of most of the notes in this conference for
>>> the past year or two and ask if you'd want to give most of these people
>>> the opportunity to speak in front of shareholders?
Well, why not? I think that most of these people are talking in front
of real customers all the year, and believe it or not, this customers are
NOT running away scared - maybe these people have a better story to tell
than anybody else ????
But to be serious, think about the following, maybe you understand why
some people are feeling uncomfortable:
1: Corporation A, 80.000 employees, X $ profit/share (in the
long run)
2: Corporation A1, 15.000 employees, X+0.1 $ profit/share ( -"- )
I prefer Type 1, because I'm not that a big shareholder...
Unfortunately we are on the way to Type 2 (don't take the numbers for
granted, they are just for illustration ...?) -
Hubert
|
3483.24 | | GEMGRP::gemnt3.zko.dec.com::Winalski | Careful with that AXP, Eugene | Thu Nov 03 1994 18:48 | 28 |
| RE: BP taking time off to attend the annual meeting
As a corporate officer, running this meeting is part of his job, as
it is for other corporate officers and some of their supporting
staff. It is not part of my job to attend the annual meeting of DEC
or any other company of which I'm a stockholder. It is not
unreasonable for the company to insist that I conduct personal
business on my time, not its.
RE: the memo
I admire the wordsmithing and phraseology that went into this. It
succeeds admirably in sending the message "please stay away" without
actually saying it. If it were any more explicit, I and likely a
whole bunch of other employee stockholders would file a complaint
with the SEC.
Regarding the message between the lines, it is only saying what is
prudent. Much as it would give me great pleasure to publicly
excoriate BP and the other VPs for feathering their own nests while
we in the trenches have had to live with a salary freeze, I recognize
that it is not in the best interests of the corporation. I'll
content myself with helping to vote out the current board. Also, I'm
sure that one or more of the non-employee stockholders will make the
point for us, anyway.
--PSW
|
3483.25 | | ROWLET::AINSLEY | Less than 150 kts. is TOO slow! | Thu Nov 03 1994 22:41 | 14 |
| re: .24
>I admire the wordsmithing and phraseology that went into this. It
>succeeds admirably in sending the message "please stay away" without
>actually saying it. If it were any more explicit, I and likely a
>whole bunch of other employee stockholders would file a complaint
>with the SEC.
I sure don't admire the wordsmithing and phraseology. I don't
'dialogue' with anybody. Also, if you can't come out and say something
like this explicitly, then perhaps it shouldn't be said.
Bob
|
3483.26 | don't squeeze the charmin | WMOIS::HORNE_C | HORNET-THE FALL GUY | Fri Nov 04 1994 07:18 | 4 |
| re.24....try moving your bowels once in a while...
hornet
|
3483.27 | Listening can be just as good as asking | BABAGI::RIEDL | Steven Riedl | Fri Nov 04 1994 07:51 | 10 |
|
One of the more interesting reasons to attend a stockholers meeting is
to listen to the questions that the BIG shareholders ask. They usually
know much more about various deals that could be detrimental to their
investment. Many of these people are very outspoken and are more then
willing to ask the SLT very tough questions. Being a stockholer and an
employee, I find the Q&A session quite interesting even if none of the
current employees ask any questions.
Steve
|
3483.28 | | HDLITE::SCHNEIDER | whatever # of VPs it takes | Fri Nov 04 1994 08:11 | 17 |
| If I'd remembered that these stay-away-o-grams happen every year as
part of the normal course of business (you know, like TFSOs), I'd have
just sighed, rolled my eyes, and hit DELETE. I think the reason I
didn't remember previous years is that the context didn't stink as bad
then.
This year, it actually seemed to me like a possibility that there could
be a formal "motion from the floor" to try to address legitimate
concerns from employee shareholders about the way the BOD is running
things. That's what I thought the stay-away-o-gram was meant to
suppress.
I can't say I'm a lot happier to think that it's just a routine
embarrassment avoidance measure, but I'm not as outraged as I was
at first.
Chuck
|
3483.29 | Messages that Ramble on too far | DASPHB::PBAXTER | | Fri Nov 04 1994 08:47 | 3 |
| Re: The memo...
The request that an employee use vacation time to attend the meeting
is reasonable. Beyond that NOTHING should have been said !!!!!
|
3483.30 | | TOKNOW::METCALFE | Eschew Obfuscatory Monikers | Fri Nov 04 1994 08:59 | 22 |
| >Much as it would give me great pleasure to publicly
>excoriate BP and the other VPs for feathering their own nests while
>we in the trenches have had to live with a salary freeze, I recognize
>that it is not in the best interests of the corporation.
This is more of an observation than a comment, but I'm not so sure the
"corporation" and the "employee of the corporation" are as intricately
linked as they once were. I mean, some companies are owned by their
employees and their actions directly affect their own bottom line.
But Digital, these days, has stratified into a class system that could
call into question whether we're still part of a white collar industry,
instead of classic management/labor lines.
Does "the best interest of the corporation" mean preserving the corporation
as you knew it? Does it mean improving the work environment for all
employees as we push for profits? Does it mean "feathering nests" of
certain individuals? What is "the corporation" and why should you, or I,
or anyone else look out for its best interests? (I know, our jobs, but
I [sincerely] mean, beyond that, what do we want for Digital and does it
matter what we want, or is it not up to us to define the "best interest?")
MM
|
3483.31 | I know, Ken's not around anymore | POWDML::KGREENE | | Fri Nov 04 1994 09:08 | 11 |
| RE: .29
IMO, the clarification of recording time taken to attend the annual
meeting is an issue better left to the local manager. It continues to
puzzle me why a Sr. VP feels the need to cite P & P. Whatever happened
to accountability?
And I'm sure I'm not the only one who remembers when Ken would
encourage employee presence at AM's.
kjg
|
3483.32 | Why? | WHOS01::BOWERS | Dave Bowers @WHO | Fri Nov 04 1994 09:13 | 8 |
| The real stupidity here is that this memo won't deter individuals who
WERE planning to attend (whether or not they intended "disruptive"
behavior); and it pisses off a lot of people who previously were
totally indifferent.
Seems to me there was an old saying about sleeping dogs...
\dave
|
3483.33 | Would if I could | ANGLIN::BJAMES | I feel the need, the need for SPEED | Fri Nov 04 1994 10:00 | 6 |
| Regarding the seeking your managers persmission to take vacation that
day, well frankly, I can't do that now. He just resigned from the
Company. Guess I'll just have to fill out a vacation card and dump it
into the system and see what shakes out from there.
WLJ
|
3483.34 | | NPSS::BRANAM | Steve, Network Product Support | Fri Nov 04 1994 12:03 | 26 |
| Wednesday morning I was attending a focus group on employee issues, having
stopped at my desk long enough to check my mail. I read this memo and my first
thought was "Geez, this will set off a firestorm in NOTES". I appreciated the
reasons for giving non-employees preference at the meeting, but given the
current climate in Digital today, felt that the message should have been
considerably softer, since people would be bound to interpret it in the most
negative light. The "neither required nor encouraged" line was far too blunt.
There will always be people who feel something sinister is going on no matter
what, but this was enough to make anybody suspicious these days! Looking back at
some older notes on meetings, this did not look like a change in policy over the
past, but the environment has changed considerably. Now our corporate leaders
need to much more sensitive to employee perceptions, since they are far more
negative. A little prudent care to the way in which they word things can keep
things from getting off on the wrong foot (or shooting it off!).
Back to the focus group...I'm the first one in the room, and then an older
fellow in suit and tie walks in and says, "Hi, Dick Farrahar, nice to meet you!"
CLICK! I thought about mentioning that his memo could have been worded a little
more sensitively, but didn't. I'm sure he's figured that out by now. I must say
that he seemed like a reasonable fellow, listening to what we had to say.
Whether he has the will or ability to do anything about any of it is another
issue, but he was willing to listen. I don't exactly have my finger on the pulse
of the corporation, but I did bring up a few items I have seen here in this
conference when related topics arose, more reporting second-hand on my
interpretation of other people's feelings than relating my own experience (hey,
I'm just an engineer. Software broke? I fix!)
|
3483.35 | Not a democracy | NWD002::31412::Randall_do | Hi | Fri Nov 04 1994 14:39 | 8 |
| Bottom line, this guy went out of his way to wordsmith (probably took a
lot of his time to wordsmith it well) a memo telling us to stay away. The
concrete info in the memo is probably in the Orange book. This wasn't a
repeat of an annual clarification, but an action taken to communicate a
message. The message, "stay out of our way. we know what's best." This
is not a democratic message, so we must not be a democratic organization.
- Don
|
3483.36 | | KLAP::porter | keep reading and no-one gets hurt! | Fri Nov 04 1994 14:44 | 5 |
| Since when has a capitalist corporation *claimed* to
be a democracy?
[No, I didn't like the original memo either. If nothing
else, it strikes me as being a clumsy effort.]
|
3483.37 | | GEMGRP::gemnt3.zko.dec.com::Winalski | Careful with that AXP, Eugene | Fri Nov 04 1994 18:16 | 12 |
| RE: .26
> re.24....try moving your bowels once in a while...
OK, so you don't agree with something I said. What didn't you like
and why?
If you've got nothing to contribute other than personal insults, shut
up and go away.
--PSW
|
3483.38 | | GEMGRP::gemnt3.zko.dec.com::Winalski | Careful with that AXP, Eugene | Fri Nov 04 1994 18:19 | 7 |
| RE: .36
It is a democracy for stockholders, with one share, one vote.
It is not a democracy for employees, though.
--PSW
|
3483.39 | Another reason for *THAT* memo. | ULYSSE::BUXTON_M | A black belt in Kno Kan Doo | Mon Nov 07 1994 03:41 | 14 |
|
It appears that one of the main reasons that prompted Mr Farrahar to send
THAT memo was that he, and some other members of the upper echelons are
running scared. Why ?
Because the European Comite d'Enteprise, with the sanction of the European
Works Council are sending a delegation to the AGM to ask some pertinant
questions about the current state of the corporation.
Some may agree that this a good idea and some may not. The washing of dirty
linin in public is not always the best option but when all else has failed
I can see no alternative,
Mark.
|
3483.40 | regardless of the name, it is a *business* after all | DYPSS1::DYSERT | Barry - Custom Software Development | Mon Nov 07 1994 12:45 | 10 |
| Re: Note 3483.38 by GEMGRP::gemnt3.zko.dec.com::Winalski
�It is a democracy for stockholders, with one share, one vote.
Actually, I believe it would more accurately be termed a democratic
republic. Each stockholder indeed votes their shares, but they vote for
the Directors who ultimately run the corporation. A lot like the U.S.
federal government... Uh oh...
BD�
|
3483.41 | two-minute warning... | MBALDY::LANGSTON | our middle name is 'Equipment' | Mon Nov 07 1994 12:54 | 31 |
| So much of what happens in the world, today, is based on what used to be
required. For example, the concept of a stockholders meeting goes back to the
days before a stockholder could
turn on a television anywhere in the world, anytime of day, and see
CNN, with a 15 minutes delayed stock ticker going across the bottom of
the screen during the hours the New York stock markets are trading
pick up Wall Street Journal or Financial Times at the corner newsstand
again anywhere in the world, knowing that the paper was printed less
than 24 hours ago with information that was up-to-date at the time
and sent via statellite to a local printing house.
My point is that there is rarely any news at a stockholders meeting, rarely
any information imparted by the corporation that everyone doesn't already know
and rarely a stockholder with any clout who hasn't had ample opportunity to
have the attention of the Board of that corporation, by simply picking up the
phone, sending a fax or firing off an e-mail.
What is the two-minute warning in football after all, but a "free" timeout
for both the teams and an extra opportunity for commercial word from the
sponsors, a throwback to the days when the referee and the referee only knew
how much remained, because the watch on his wrist was the official game clock.
re: .39
� Some may agree that this a good idea and some may not. The washing of dirty
� linin in public is not always the best option but when all else has failed
� I can see no alternative,
Digital is, after all, a *publicly*-held, corporation. So, why not?
|
3483.42 | Same sentiments, Shared this time. | KERNEL::CLARK | STRUGGLING AGAINST GRAVITY... | Mon Nov 07 1994 13:49 | 84 |
| I can't help feeling that one particular point has been overlooked
in this discussion. That of the RIGHT TO VOTE.
After some thought, here is the MAIL I fired off to Dick FARRAHAR
while the fuse was still burning!
**********************************************************************
Dear Dick
With reference to your MAIL message in connection with employee
attendance at the Company Annual General Meeting on November 10th this year, in
particular the paragraph:-
<<The Annual Meeting provides an opportunity for non-employee investors
to hear information directly from the President. Employees who are
shareholders are entitled to attend, however they are neither required *
nor encouraged to do so. As in the past, eligible employees who elect *
to attend the meeting must take vacation, personal holiday or *
authorized leave without pay, and must obtain the approval of their *
managers to take the time off prior to doing so.>> *
I would like to make the following observations:-
(1) The annual general meeting is the ONLY opportunity which employee
shareholders get to VOTE on company issues. To say that they are not encouraged
to attend suggests that they are not encouraged to exercise their RIGHT to vote,
nor to raise issues which they as shareholders are entitled to have discussed
and answered.
The proxy voting system provides no opportunity for employees to become
involved in OPEN discussion on the company's performance, or that of it's
officers.
(2) Presidential DVN's and open forums do not provide any opportunity for
employee-INVESTORS to influence the company performance or strategy. They might
provide an opportunity for executives to monitor attitudes and morale, but
there is no guarentee that any clear trends in employee opinions will form any
part of future company policy. This medium for communication should not
therefore be construed as an alternative to the RIGHT TO VOTE inherent with the
status of SHAREHOLDER whether employee or not.
(3) The sentences :-
<<As in the past, eligible employees who elect
to attend the meeting must take vacation, personal holiday or
authorized leave without pay, and must obtain the approval of their
managers to take the time off prior to doing so.>>
...even conveys the suggestion that the company might, via the
management network, contrive to veto any requests for leave to be taken on
November 10th.
Now to my opinion!
Having studied the notes accompanying the notice of Annual General
Meeting, and having observed the worldwide discussions on various issues
relating to company performance, executive remuneration, pay freeze,
deliverables-resources to name but a few, I cannot help viewing your MAIL
message as a strong hint to "Stay Away" from the public meeting.
This being the case, I am tempted to wonder why?
Is the board of directors afraid of the employee element among
shareholders?
Perhaps the prospect of inside knowledge of company performance
becoming public knowledge is seen as potentially embarrasing to the board?
Whatever the reason, this is the first time in many years of employment
with DIGITAL that I have ever seen a message of this type. I believe it is
unprecedented.
As an employee-shareholder I and many collegues have born the brunt of
not only the fall in share prices, but also the effects of abysmal management
performance, failure to match inflationary pressures with pay increases, and
the pressures of trying to maintain customer credibility against a background
of confused and non-existent strategy.
In that context I find your message offensive.
Dave Clark
UK Customer Support Center
@UVO
|
3483.43 | | NODEX::ADEY | Sequence Ravelled Out of Sound | Mon Nov 07 1994 20:16 | 4 |
| After reading Note 3495, I think I now know the motivation behind
Farrahar's 'stay away' memo.
Ken....
|
3483.44 | Listening and Speaking is a civil right and sometimes a duty | GYPSC::SCHNEE | Erika Wiener @UFC, 865-3253 | Tue Nov 08 1994 01:22 | 20 |
| re .39:
"Because the European Comite d'Enteprise, with the sanction of the
European Works Council are sending a delegation to the AGM to ask
some pertinant questions about the current state of the corporation.
Some may agree that this a good idea and some may not.
The washing of dirty linin in public is not always the best option but
when all else has failed I can see no alternative,..."
There's no plan 'to wash dirty linen', but, as you mentioned 'to ask some
pertinant questions'.
And, more important, to speak about alternatives in doing business, in
satisfying customers (instead of of meking them feel unsecure in doing
business with us - we are loosing business because of the unstable
conditions of the company in Europe).
And they are encouraged to do so by a lot of European Employee Stockholders.
Erika Wiener, German Stockholder.
|
3483.45 | Emplyee Morale _is_ a business issue | HLDE01::VUURBOOM_R | Roelof Vuurboom @ APD, DTN 829 4066 | Tue Nov 08 1994 04:05 | 9 |
| Without employees there would be no Digital. We all know that.
Most management experts and business gurus acknowledge that one of
the most - if not _the_ most -important factors to generating
and sustaining business is highly motiviated and dedicated people
(employees).
In this sense, employee morale and motivation is a very important
business issue.
|
3483.46 | So much true ! | SWTHOM::COSTEUX | The Present is already the Past | Tue Nov 08 1994 04:36 | 3 |
| I agree. Most of the responsibles have forgotten this point for a long
time as I feel that they take care of their own personal interests rather
than the Digital interest.
|
3483.47 | | HOO78C::ANDERSON | DECdirect isn't | Tue Nov 08 1994 07:52 | 11 |
| I was completely unaware of the fact that company officers had the
right to tell stockholders what questions they may or may not ask.
It was always my opinion that company officers attempted to run the
company profitably for the benefit of the stockholders, whose money they
used.
Perhaps the correct question to ask at the meeting is this, "Is the vp
who tried to stop stockholders asking questions at this meeting going
to be disciplined for his actions?"
Jamie.
|
3483.48 | | WRKSYS::SEILER | Larry Seiler | Fri Nov 18 1994 15:35 | 23 |
| 1) If employees have effective internal means of raising concerns,
hardly anyone would even THINK about doing it at a stockholder's
meeting.
2) There are no effective internal means of raising many concerns.
I cite as evidence Jose Ramirez' failure to respond to simple questions
about the salary freeze, the Ethics Office's demonstrated past
unresponsiveness (I haven't tried them since Win Hindle left), and
the fact that my group's Open Door manager told me that I would only
have a legitimate complaint against a manager I complained about if
he had gotten me fired.
3) Further, I assume that Dick Farrahar knows that many employees
have concerns that they know that upper management is ignoring.
4) Therefore, I conclude that he felt that his memo would be useful
to help avoid the risk of employee concerns being exposed in public.
5) As to its effectiveness, well, *were* any employee concerns raised?
Would *you* feel intimidated to know that a VP is *personally* watching
your behavior? If not, you must not be afraid of losing your job.
Larry
|
3483.49 | Feedback? | STRATA::RUDMAN | Always the Black Knight | Fri Jan 13 1995 14:07 | 7 |
| re .0: That was a very well thought out and detailed examination of
Mr. Farrahar's memo.
What was his reaction to it when you sent him a copy?
Don
|