#proxyfight

I'm seeing a lot of people (some know a lot, others don't have a fckng clue) analyzing the financial engineering the company has been carrying out in recent months. Well, none of that is a coincidence, considering who is at the helm.

Without a shred of admiration, but with all the recognition he deserves, it must be said that our CEO is an absolute wizard when it comes to high-stakes Wall Street finance, and it all goes back to his time running with Carl Icahn.

For five years, our CEO was Icahn’s right-hand legal guy, which is basically like getting a master's degree in corporate warfare from the most aggressive shark in the business.

When you work for Icahn, you are learning exactly how to rip apart corporate balance sheets, we-ponize debt, and corner massive boards into doing what you want.

So when Icahn won that brutal proxy fight against Xerox back in 2018 and ki-led their multibillion-dollar deal with Fujifilm, he planted LP inside Xerox as General Counsel to be his eyes and ears. Over the next five years, LP probably was the secret architect behind some of the wildest financial stunts you can imagine.

We are talking about helping orchestrate a crazy $33B hostile takeover attempt where Xerox, the smaller company, tried to swallow HP using a mountain of structured debt.

The real proof of how savvy this guy is came in 2023 when Icahn decided to cash out and sell his entire share back to Xerox for over $0.5B. Usually, when an activist investor leaves, his people get kicked out the door right behind him. But LP had made himself so indispensable by rewriting the company's entire operational playbook that Xerox couldn't afford to lose him.

FF to 2026, and the company is in a tough spot with the stock down, and the board immediately handed him the keys as CEO.

If anyone knows how to engineer a financial miracle out of a tight corner, it is a guy who spent a decade learning the ropes from Carl Icahn himself.

Board, I know you are meeting tomorrow. This trend has to stop. Whatever polish this ELT tries to put on it, you need to hold them accountable.

YTD, PSX is up 36% while MPC is up 55%
1 year, PSX is up 58% and MPC is up 67%

Chemicals is up 70% YTD so we can’t blame CPChem.

The strategy is not working and you need to evaluate the break up scenario. The street is not buying the story and you continue to receive a conglomerate discount. Stop fighting with Elliott and start working constructively with them.

Executive compensation keeps increasing while workers keep getting laid off. Proposal 3 - vote against. Proposal 4 - vote against. Make your voice heard if you own stock in Citi through the 401k plan. Proxy statements and ballots were rec’d in mail yesterday. Check box to keep vote confidential.

As a shareholder, in the latest proxy I voted against the executive compensation plan..

Legitimately sickening that he is making millions while overseeing years of layoffs and decline. Make sure to vote against his pay in the proxy voting! Since apparently TRP is too chicken sh-t to send out an employee survey for the last 4? 5? years, this is one way to let your voice known.

There are currently proxy statements out, vote to get rid of this board. Vote for the ability for shareholders to force meetings (2nd to last question on the proxy)

Just out of a staff meeting with my LG member and she was downloading from the Leaders Group meeting they had last week. Apparently Doug Tere77on believes the Elliott argument is not grounded in anything and that he has disproven their thesis and predicts Elliott will not make any noise this proxy season.

Thoughts?

If every former and current employee contributed to an LLC to buy up Truist shares until that entity gained majority share, they could overthrow Bill and the BOD. Not sure why someone hasn’t started this yet? Seems like an easy answer.

https://www.bcbstx.com/docs/forms/group/tx/grp-proxy-tx.pdf

"It's not clear what an activist might be looking to do with PepsiCo (PEP), though they may want the company to split up or maybe the board may need an overhaul, Bilson speculated."

This is what lots of bad management gets you...I think it's pretty obvious to everyone what needs to be done with PEP...

https://seekingalpha.com/news/4486225-pepsico-under-spotlight-as-activist-target-after-13f-filings