Yea. My company is being acquired, or filing bankruptcy

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BackInTex
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Yea. My company is being acquired, or filing bankruptcy

#1 Post by BackInTex » Thu Mar 22, 2018 9:40 pm

Its been coming for a while. Imbecilic management replaced by idiotic management replaced by incompetent management. The chicken (just one, that's all we can afford) has come home to roost. Should know tomorrow if the BOD of the possible acquirer approved the acquisition.

But its been a good ride, for me. I've been well compensated. Paid more than what they've had me doing the past three years is worth, but I'm the only one in the company that can do it. Paid less than what I could be doing is worth though. That's the irritation, but I was too comfortable to try and move somewhere else. Sort of locked into a high paid job where I'm worth more to the current company as a known than a new company as an unknown. Plus, with kids in college I did not want to take a pay cut, take a chance, and start over.

But now I have some pretty good options. I will have two in college for one more year, then only one in college for three. Daughter two is getting married in June and that money is about all secured. But I still can't afford a pay cut.

The company (that might be) acquiring us is large. The HQ is in another city, and I may be able to parlay a transfer, if they want to keep me. If not, I might have been granted a "stay" bonus through the transition. I say "might" because I wouldn't be able to let anyone know about it if I had one (so I've been told :wink: ). But, if they had offered me one ( :wink: ) I would be insulted by the amount of it given I've received no raise or bonus for 3 1/2 years, and what they need me to do, no one in the company could do and they'd have to hire outside consultants to do at a much much higher cost.

As I was driving home tonight I got a call from a company that the CEO wants to meet me for breakfast tomorrow. Its a company I've been talking to for some time. They told me not to mention tomorrows meeting with "anyone". That is strange because the CFO is a former co-worker and friend who introduced me to the CEO several years ago. I know the instructions to not mention it to "anyone" was intentional that I not mention the meeting to the CFO. Then while cooking dinner tonight, the CFO calls me and tells me they will probably be making me an officer soon, maybe tomorrow. He said they can get me real close to what I'm making now, maybe even have me even with it (he doesn't know about my now stay bonus I'd be walking away from). And he doesn't know I'm meeting with his CEO tomorrow.

Then I get a LinkedIn message from my current company's former Tax VP who just started working for another company that plans to go public later this year. Before he left he told me the crazy numbers they gave him for what his options would be worth when they go public. He told me their financial systems and processes are in chaos. I gave him my resume. He told me in the message that he "talked me up"to the CFO and Controller today and I'd likely be getting an interview once they close the books on 2017 (part of the reason they need me as its taken almost 3 months to get the books closed). This is a $600-700 million / year company. It shouldn't take near that long.

And Monday, I'm having lunch with a long-time friend who is a principle in a small boutique consulting firm. He's been trying to get me to work for them for some time, but I was hesitant to commit to the travel. With all kids out of the house, that is no longer an issue.

Regardless of what happens, what choices I or others make, by October I will no longer be working for my current company here in Houston. That's kind of exciting, yet a little unnerving.

Oh, and I should be a grand-father to a grand-daughter on or about July 27. My 60th year is turning out to be pretty exciting.

For those that may remember, my 50th year was damn close to my final one. Yea for 60.
..what country can preserve it’s liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? let them take arms.
~~ Thomas Jefferson

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Re: Yea. My company is being acquired, or filing bankruptcy

#2 Post by Bob78164 » Thu Mar 22, 2018 9:48 pm

BackInTex wrote:For those that may remember, my 50th year was damn close to my final one. Yea for 60.
I didn't remember it had been that long ago. Congratulations on the upcoming grandkid. --Bob
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Re: Yea. My company is being acquired, or filing bankruptcy

#3 Post by mellytu74 » Thu Mar 22, 2018 9:53 pm

Babies....we love Bored babies.

Life is an adventure, BiT. Wishing you all the best as everything sorts itself out.

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Re: Yea. My company is being acquired, or filing bankruptcy

#4 Post by Bob Juch » Thu Mar 22, 2018 10:24 pm

It sounds like you have things well under control. You're proving that no matter what, if you're good you'll always have a job (sooner or later).
I may not have gone where I intended to go, but I think I have ended up where I needed to be.
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Re: Yea. My company is being acquired, or filing bankruptcy

#5 Post by a1mamacat » Thu Mar 22, 2018 10:25 pm

sounds promising all around. Maybe you can bring the Missus on your travels as the kids are all out of the house.
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Re: Yea. My company is being acquired, or filing bankruptcy

#6 Post by flockofseagulls104 » Fri Mar 23, 2018 12:50 am

Good luck in whatever you decide!
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Re: Yea. My company is being acquired, or filing bankruptcy

#7 Post by Vandal » Fri Mar 23, 2018 6:14 am

If that doesn't work out, you'll need a backup plan. I see exotic male dancing in your future:
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Re: Yea. My company is being acquired, or filing bankruptcy

#8 Post by Beebs52 » Fri Mar 23, 2018 6:45 am

Good and exciting news!
Well, then

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Re: Yea. My company is being acquired, or filing bankruptcy

#9 Post by silverscreenselect » Fri Mar 23, 2018 7:27 am

Well, I know how daunting the job market can be when you get to be our age, and, politics aside, I wish you the best. You sound like you've got some good options coming your way.
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Re: Yea. My company is being acquired, or filing bankruptcy

#10 Post by BackInTex » Fri Mar 23, 2018 9:56 am

Vandal wrote:If that doesn't work out, you'll need a backup plan. I see exotic male dancing in your future:

Nah, I've already chosen my next career move.
..what country can preserve it’s liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? let them take arms.
~~ Thomas Jefferson

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Re: Yea. My company is being acquired, or filing bankruptcy

#11 Post by Spock » Fri Mar 23, 2018 10:49 am

BackInTex wrote:
Vandal wrote:If that doesn't work out, you'll need a backup plan. I see exotic male dancing in your future:

Nah, I've already chosen my next career move.
I know there are comedy routines on this, but L'il Spock took a few years to get here and we started testing and so forth.

You go into the little room and you don't want to get done too fast, or too slow. Do you want to get all sweaty? Come out cool as a cucumber like you do this all the time?

Anyway, questions to think about as you move forward in your chosen career.

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Re: Yea. My company is being acquired, or filing bankruptcy

#12 Post by BackInTex » Fri Mar 23, 2018 11:05 am

Spock wrote:
BackInTex wrote:
Vandal wrote:If that doesn't work out, you'll need a backup plan. I see exotic male dancing in your future:

Nah, I've already chosen my next career move.
I know there are comedy routines on this, but L'il Spock took a few years to get here and we started testing and so forth.

You go into the little room and you don't want to get done too fast, or too slow. Do you want to get all sweaty? Come out cool as a cucumber like you do this all the time?

Anyway, questions to think about as you move forward in your chosen career.
I'll be like

Image
..what country can preserve it’s liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? let them take arms.
~~ Thomas Jefferson

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Re: Yea. My company is being acquired, or filing bankruptcy

#13 Post by tlynn78 » Fri Mar 23, 2018 10:08 pm

Later-in-life directional adjustments can be really great! Best of luck.
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Re: Yea. My company is being acquired, or filing bankruptcy

#14 Post by mellytu74 » Sat Mar 24, 2018 7:49 pm

BackInTex wrote:
Spock wrote:
BackInTex wrote:

Nah, I've already chosen my next career move.
I know there are comedy routines on this, but L'il Spock took a few years to get here and we started testing and so forth.

You go into the little room and you don't want to get done too fast, or too slow. Do you want to get all sweaty? Come out cool as a cucumber like you do this all the time?

Anyway, questions to think about as you move forward in your chosen career.
I'll be like

Image
Good thing I was finished the popcorn when I read THIS thread.

:lol: :lol: :lol: :lol:

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Re: Yea. My company is being acquired, or filing bankruptcy

#15 Post by gsabc » Sun Mar 25, 2018 4:52 pm

Sounds like some good options there (no pun intended). Good luck with it all, and congratulations on the grandkid. They're a bit draining energy-wise, but still a lot of fun. And you get to give them back to their owners when you're done playing with them. :D
I just ordered chicken and an egg from Amazon. I'll let you know.

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Re: Yea. My company is being acquired, or filing bankruptcy

#16 Post by T_Bone0806 » Sun Mar 25, 2018 9:13 pm

BackInTex wrote:
Vandal wrote:If that doesn't work out, you'll need a backup plan. I see exotic male dancing in your future:

Nah, I've already chosen my next career move.

Just as well. They've already hired me for the first position on the list. I told 'em I already had quite the following.


Wishing you the best in your next endeavor! Sounds like it'll be a smooth transition.
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Re: Yea. My company is being acquired, or filing bankruptcy

#17 Post by T_Bone's Groupies » Sun Mar 25, 2018 9:18 pm

T_Bone0806 wrote:

Just as well. They've already hired me for the first position on the list. I told 'em I already had quite the following.


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