An Utterly Crushing Day For Exxon Mobil’s Old Guard
I own Exxon Mobil shares. My children’s generation aren’t too thrilled. They demand a greener world. That is the tipping point the world is grappling with.
What really happened yesterday was economics at its best in combination with stale, self-centered PR blitz by old guard that went wrong.
First the economics — major institutional investors (read pension funds) were unhappy with the stock performance last year and wanted some leadership change.
Second, to counterbalance the institutional investors loss of faith — the current leadership chose to send letters to their individual, retail share holder reach. I got one by snail mail to my house.
The idea had potential on paper — they are sending letters to people who chose to bet on Exxon stock in the plethora of stock trades available to buy and hold (without commission fees these days!)
Now, imagine this — you don’t often hear from your laundry mat owner that you frequent often. One day, he decides to knock on your door and off the bat, bitches about the new guy who started a laundry mat next door — how would you feel?
