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Dad's company being bought out - any tips to protect himself/leverage a better s
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Date: September 25th, 2018 10:16 AM Author: talking field everance?
Dad is 64 and planned to work for 21 more months until 66. He is well-rated and has not had any disciplinary issues. Been at this company 6 years. Company being bought has a lot of money as does company acquiring. He is in a department that has a high likelihood of being determined redundant. |
Date: September 25th, 2018 10:18 AM Author: Transparent chapel immigrant tell him to start showing up to work wearing high heels and lipstick. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883891) |
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Date: September 25th, 2018 10:19 AM Author: Puce Frum Travel Guidebook (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883897) |
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Date: September 25th, 2018 10:22 AM Author: Avocado excitant dilemma "visibly queer" (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883927) |
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Date: September 26th, 2018 1:10 AM Author: White irradiated center (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36890495) |
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Date: September 25th, 2018 10:19 AM Author: Mind-boggling psychic Isn't there age discrimination stuff if he is that old?
Also ljl at your dads wage cuck life.
Imagine being "rated" as a 60 something |
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Date: September 25th, 2018 10:21 AM Author: talking field I think age discrimination would be his best bet but I also feel like it would be harder to make a credible accusation of this when the company is being bought and there are mass layoffs. At the same time I feel like the acquiring company has a budget for making shit like this just go away quickly. But I'm not an expert in this area. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883914) |
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Date: September 25th, 2018 10:23 AM Author: Avocado excitant dilemma I would anticipate he gets offered a pretty generous severance package if he's old and getting laid off. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883932) |
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Date: September 25th, 2018 10:20 AM Author: adventurous alcoholic parlor tell him to reply-all to the new CEO's form email welcoming everyone to the new team: "im gay and trans btw" |
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Date: September 25th, 2018 11:55 AM Author: idiotic home milk (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884559) |
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Date: September 25th, 2018 10:21 AM Author: Sinister Aromatic Box Office first, he's planning to work until well into his 70s (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883918) |
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Date: September 25th, 2018 10:22 AM Author: talking field right, laying him off now would effectively end his career when he had planned to work until 70 at least. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883925) |
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Date: September 25th, 2018 10:23 AM Author: Sinister Aromatic Box Office maybe I'm not being clear. he was planning *wink wink* to work *wink wink* until well into his seventies (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883935) |
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Date: September 25th, 2018 10:24 AM Author: talking field yes, I know. Until 78, at least. He feels like he's just hitting his stride. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883940) |
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Date: September 25th, 2018 10:44 AM Author: vibrant gunner U seem a lil slow on the uptake bro (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884061) |
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Date: September 25th, 2018 10:56 AM Author: talking field (guy looking in the mirror, talking to himself) (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884119) |
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Date: September 25th, 2018 12:08 PM Author: Electric Prole Nursing Home (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884668) |
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Date: September 25th, 2018 1:57 PM Author: Bronze Vigorous Step-uncle's House (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36885552) |
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Date: September 25th, 2018 10:21 AM Author: Unhinged Area Goal In Life Send an e-mail to someone high-up using the phrase "ADEA" and mentioning that he is over 40. BCC himself or print a copy. Not legal advice. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883920) |
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Date: September 25th, 2018 10:24 AM Author: Arousing bipolar heaven if they know he's that close to retirement they'll probably just let him ride it out. company buyouts don't get done overnight anyways so he may be ready to retire by the time they start axing people.
it's 57 year old middle managers with bloated salaries and a good number of years to retirement who get fucked over in these situations. |
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Date: September 25th, 2018 10:31 AM Author: Dashing violet faggot firefighter sweet tailpipe He’s gonna get paid to retire early. His company ought to have a change in control plan and generous severance is baked into the acquirer’s costs. Do not do any of the protected status stuff people are talking about as it will backfire. Unless he really is a tranny. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883973) |
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Date: September 25th, 2018 10:57 AM Author: talking field This is my take too. They will incentivize someone like him because they don't need 100 lawsuits getting filed even. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884122) |
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Date: September 25th, 2018 10:33 AM Author: jet-lagged blue knife cruise ship i don't understand this. why does he need to be offered anything? why can't they just axe the dead weight? (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36883989) |
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Date: September 25th, 2018 10:59 AM Author: talking field The acquiring company axes 150 people and tells them to fuck off, and 100 of them file lawsuits, costing 10x more in legal fees and exposing the company to prolonged liability and possible negative press. Is that really a good outcome? (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884123) |
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Date: September 25th, 2018 11:07 AM Author: Dashing violet faggot firefighter sweet tailpipe Change of Control plans are 180. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884158) |
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Date: September 25th, 2018 10:42 AM Author: Bronze Vigorous Step-uncle's House Leave the law firm, start an LBO firm with two partners: a former banker/PE mid-level and an entrepreneur. Place an unsolicited competing (higher) bid, using the two other partners as the face of the organization. Use your dad as a source of inside information. Get the deal under LOI with a 60 day diligence period, which may be enough to kill the existing deal. While the deal is under LOI, raise one-off capital from family offices and of course line up bank debt. Execute an alternative plan of reorganization that not only keeps your father employed, but promotes him to senior management and grants him significant equity incentives. When he is ready to retire, terminate him without cause and pay a healthy severance. Then sell the company during Trump's second term into a roaring economy. Retire to join your dad in the greatest years of both of your lives. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884044) |
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Date: September 25th, 2018 10:46 AM Author: bossy embarrassed to the bone piazza (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884072) |
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Date: September 25th, 2018 10:50 AM Author: Gaped Razzle Therapy (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884094) |
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Date: September 25th, 2018 10:59 AM Author: talking field wow holy shit ty (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884125) |
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Date: September 25th, 2018 11:08 AM Author: Dashing violet faggot firefighter sweet tailpipe Report back on progress. (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884163) |
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Date: September 25th, 2018 12:53 PM Author: Bronze Vigorous Step-uncle's House (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36885025) |
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Date: September 25th, 2018 11:08 AM Author: Dashing violet faggot firefighter sweet tailpipe (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884161) |
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Date: September 25th, 2018 12:05 PM Author: Insecure house-broken really tough guy (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884647) |
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Date: September 25th, 2018 12:06 PM Author: Laughsome internet-worthy den (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884654) |
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Date: September 25th, 2018 12:09 PM Author: Chocolate Stage I see no obstacles to this plan tbh (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884681) |
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Date: September 25th, 2018 2:11 PM Author: aquamarine racy national doctorate find a PE sponsor to buy the company after using your dad's position to extract union concessions and hatching a plan to raid the overfunded pension.
After you close, market the assets and dissolve the company, lay off the workers including your dad, and access the cash in the overfunded pension.
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Date: September 26th, 2018 1:30 AM Author: Effete mahogany meetinghouse 180 (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36890535) |
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Date: September 25th, 2018 11:55 AM Author: sapphire dysfunction Maybe he should oh I don’t know work a non useless job? Fucking boomers (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884552) |
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Date: September 25th, 2018 12:09 PM Author: Electric Prole Nursing Home Too late for that (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884685) |
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Date: September 25th, 2018 12:12 PM Author: canary son of senegal No he's fucked. Nobody wants legacy employees lthat arent loyal to new management (http://www.autoadmit.com/thread.php?thread_id=4086995&forum_id=2#36884705) |
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Date: September 25th, 2018 11:49 PM Author: buff people who are hurt crotch Sometimes these scenarios lead to cushy consulting/part-time work. This is the best way to glide into retirement and avoid tapping retirement assets too quickly. Is there shit he knows that not too many other people at the company know and that will not be comprehensible or manageable for the buyer's people?
If so, now is the time to start setting up anyone around him to quit voluntarily or look like dispensable morons to the buyer and get shitcanned. Stop training underlings and tell them war stories about everyone who got fired the last time there was an acquisition. Write them glowing letters of recommendation and terrible internal reviews. Stop ccing anyone on emails involving the buyer or any members of senior management who might stay. Be the guy who knows how to fix ABC or find XYZ without looping in 12 other people.
Every company has old guys like this who coast by on "only Steve knows how to reconcile this weird specialized accounting we need for a state regulator/patch this code written in 1995/find the files that he sorted terribly." Ideally they work 4 hours per week from home but get paid for 20 because no one knows what they do and everyone is terrified to find out. |