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Kellogg Company (K)
NYSE - Nasdaq Real-time price. Currency in USD
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Prior Kellogg CEO's and their boards told us that acquiring companies and consolidating back office functions coupled with leveraging the combined expertise and talent of various companies would be accretive and unlock long term goal. Today, the Kellogg CEO and their board tells us they are going to spin off the companies that they acquired over the years to unlock value and enable each new company to focus on growing their respective companies versus being constrained by Kellogg's corporate bureaucracy and having to fight for scarce resources against all of the other divisions. You can't make this stuff up! Breaking up a large corporation during arguably the tightest labor market ever, and diluting their combined corporate buying power for scarce resources in the highest inflation environment in decades? What a joke, and clearly demonstrates that Kellogg believes it's corporate culture, CEO, and senior management team are dysfunctional and incompetent to effectively manage multiple divisions. FIRE THE CEO AND BOARD!
New company Snap, Crackle Pop.
Are we gonna own 3 different companies / stocks?
Will I still be able to buy my Froot Loops after the spin offs ??????
Why didn't you just split the stock, rather than split the company, to build out more corporate overpaid bureaucracy ?
Who convinces/sells these three-way-breakups to giant long-time corporations and what do the CEO's get for it? Where/when is the shareholder vote?
How can they make more money? Oh I know, make the box of cereal smaller and increase the price
I always liked and supported Mr Cahillane - thought he could position this company for the next generation. Even paying him $10,000 a day couldnt spur him on to do the right thing. Ripping up this co is a temporary boost to the stock price but it destroys this venerable company and will help very few of the workers who built it to this point.
wondering how this will effect the workers who were on strike in the memphis plant. thinking payback will be swift here
ok here it is one company will focus wholly on the U.S. market, while a second will take on international cereal and snack markets. The third will be known as a “pure-play plant-based foods company.
Not fan of splitting up
Stock market is well off it's 52 week highs and still appears to be trending lower as many economists are predicting we're headed for a recession. There are still around 11 million vacant job openings, and wage inflation is running at around 6% depending upon what source you use. Interest rates are still extremely low compared to historical averages. Kellogg has generated an average of roughly $1.3 billion of free cash flow in each of the past 3 years. When stock prices are low and trending lower, and labor markets are tight and wage inflation is very high.... do you acquire another company while prices are low and look for synergies by consolidating back office functions and operations, or do you spin off divisions within your company and force the newco's to hire all of the personnel they need in a very tight market and dilute your corporate buying power while inflation is running higher than normal? Instead of spinning off or selling, isn't this the time that competent CEO's and Boards with strong free cash flows and access to cheap financing should be acquiring weak competitors and rapidly growing companies in their industry that are trading at a big discount to FMV? Kellogg CEO tells us he is spinning off the divisions because the corporate bureaucracy doesn't enable the divisions to secure the capital and resources needed to achieve their respective maximum growth potential. What does that tell you about Kellogg's corporate culture and the competency of their senior management team? LOL
When is the shareholder vote on this?
I'm out. Just sell the business that you don't want as this is just expensive smoke and mirrors to enrich and create more woke management. I'll take a look at the cereal company after the split. As that's one company that even this bloated management team can't destroy with the iconic brands. And it fits "Pick a business any idiot can run, as it's probably going to be run by one someday = now"
I bet they're busy patting their overeducated selves on the back today as they do nothing while "working at home". lol. Stupid.
I dont see how you add value through this gimmick. Sell sell sell
Plugged In Profits
DEBRS $8 BB, cash under $1 BB, terrible value, $23 BB CAP!
Never for me!
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