Comments on: Bristol-Myers Wants To Juice Its Cash Flow

By: HR Executive from the 80's

HR Executive from the 80's — Fri, 14 Nov 2008 22:36:28 +0000

I worked at BMS/Clairol in the 80’s. I attended a management meeting after a large lay off and a different finance chief suggested to the Division President that we manage cash flow by pushing back on the vendors and it was tossed out as not a true savings.

BMY should be ashamed of themselves. The way they pay vendors today is outrageous. How about creating real savings for the firm. This is just a trumpted up idiotic plan by finance to push cost back on suppliers, who in turn will raise their prices to BMY. So where is the savings? No where, but you can be assured that whoever came up with this one will be in line for more than a 2% change in their compensation plus options, restricted of course, or re-priced ones so there is no risk.

The managers of today make me sick. After all of the problems in the market, they can not come up with real ways to improve their bottom lines. No real efficiencies…….put margin improvement on the backs of the people and the suppliers.

Great move Huet……you are a genius.

By: Stephanie

Stephanie — Thu, 13 Nov 2008 21:57:33 +0000

BMS has been playing the pay late game for years…so I guess now payments will be even later!

By: Doc

Doc — Thu, 13 Nov 2008 17:11:17 +0000

BMY recently announced there are changes coming in the next year or two to it’s defined benfit pension plan. The company also just announced all emplyees for 2008 who are rated at fully performing or exceeding will receive a 2% salary increase.

Now what employees would like to know from my sources is what is the senior executive team doing about their stock options and restricted stock awards, when they ask all employees to understand the financial pressure on BMY?