Yea. My company is being acquired, or filing bankruptcy
Posted: 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
). But, if they had offered me one (
) 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.
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 :wink:](./images/smilies/icon_wink.gif)
![Wink :wink:](./images/smilies/icon_wink.gif)
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.