I worked for three companies during the course of my career. I spent 12 years at the first, was ‘acquired’ by the second (where I spent another 12 years), and capped off my career at the third (for 3 years). All three were large, multinational ‘MegaCorps’ and blue-chip companies.
Even though it’s been almost 4 years since I wound down my last days at my final MegaCorp, I still find myself following their financial performance. Anytime I see an article in the business press on any of the MegaCorps I worked with, I give them a quick read. I even still get a weekly ‘Google Alert’ for the top stories involving any of the companies.
I’m connected with hundreds of former colleagues through LinkedIn, keep up on what they post, and regularly catch coffee/lunch with more than a dozen MegaCorp friends in person. They typically tell me how awful MegaCorp life has become. I don’t have much MegaCorp stock or stock options left (as a % of our FIRE nest egg), but I’m always interested in how they think the company is doing.
If they think the company is doing poorly, employees are usually right-on with their perceptions. If they think the company is doing well, their perceptions are usually only right half the time. Yesterday, my MegaCorp #3 reported their Q3 results which former colleagues had already told me were likely to be ugly. Stock fell -5%.
I think that’s why people become more jaded later in their careers. For some reason, every earnings ‘miss’ takes a lot more out of you than every ‘beat’.
I used to have a boss who counted down his journey to retirement in terms of the number of quarterly financial roll-up meetings he needed to attend. He found them excruciating and would say, “I’ve been here for 120 of them and only have 5-4-3-2-1 left!”
His last meeting finally came, but like me – and maybe you – I’m sure he still watches MegaCorp’s quarterly earnings reports.
How closely do you keep up with your former MegaCorp’s financial performance?
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