by Diverging Route
No transit experience; was a GE executive. The story from the Boston Globe.
Railroad Forums
Moderators: sery2831, CRail
Diverging Route wrote:No transit experience; was a GE executive. The story from the Boston Globe.Maybe he will increase and or improve transit service in the Seaport District, got to take care of his former employer!
craven wrote:The people on the MBTA Human Resource Board, who approved his hiring, should be Fired !!The GM position choice is usually above the HR paygrade.
Now there is a Cost Savings initiative !
"Going forward, we need financial discipline, we need operational excellence, and we also need strategy," Ramirez said in his own statement. "But in everything we do, the overriding objective will be to put the customer first."So, in his own words are the criteria we should measure him by. I'd like to see this quantified and know more about this strategy thingy.
Ramirez left the company on March 20, 2015. Less than two months later, the firm had to notify the SEC in writing that the company's financial statements for 2014 "should not be relied upon because of accounting errors" and that they were retaining outside advisers to see if reporting for other years may have been affected.
That kicked off a detailed internal review. In March 2017, the company refiled its accounting information with the SEC. The new reports contain significant differences in key measures of the company's financial health. For example, in its original filing, Global Power Equipment Group reported a net income of $11 million for 2014, the final complete business year Ramirez served as CEO. The company's restated SEC filings show that in 2014, it actually had a net loss of $47 million. Global Power Equipment Group originally overstated its 2014 net income by 524 percent.
Lincoln78 wrote:/The information about corrected GE financial reports is troubling. Hope that the MBTA knew that before the decision.No, not GE, the restated financial were at a company he was CEO of after GE.
//I bet that the Boston press will give Mr. Ramirez more support than they give our president.
Lincoln78 wrote:///I am confident that he will be better for the MBTA than the spouse of a former GM.What does this mean?