Posted in the Tennessee Forum
DOES ANYONE KNOW THE "RULES FOR A MERGER" OF TWO COMPANIES? WE ARE MERGING WITH STANDARD PARKING IN CHICAGO. ITS REALLY SUPPOSE TO BE AN ACQUISITION BUT THEY ARE CALLING IT A MERGER. ITS SUPPOSE TO HAPPEN THE END OF SEPTEMBER AND WE ARE SUPPOSE TO BE ACTING AS A SEPARATE COMPANY AND STILL IN COMPETITION WITH STANDARD. THRU THE GRAPEVINE WE HAVE HEARD THERE WILL BE NO RAISES BECAUSE WE ARE LESS THAN 100 DAYS FROM THE MERGER. WE HAVE HAD TWO 2.5% RAISES IN 5 YEARS! WE BASICALLY ARE SELF INSURED SINCE WE PAY MOST OF OUR HEALTH INSURANCE DUE TO IT GOING UP EVERYYEAR! WE HAVE BEEN TOLD THERE WILL BE A SUPPORT SYSTEM HERE BUT THRU THE GRAPEVINE WE KNOW THAT WILL NOT HAPPEN. THIS IS THE MOST DISAPPOINTING MERGER I HAVE BEEN THRU. ON TOP OF THAT THEY ARE NOT PLANNING ON PAYING "RENT" WE OWE FOR A MONTH TO OUR CLIENTS AND HOLDING OUR VENDOR CHECKS AS WELL. THE BONUSES WE OWE OUR GM'S ETC, THEY HAVE DECIDED TO ONLY PAY THEM 60% OF THAT??? SEVERANCE PACKAGES, WELL LET ME SAY WHAT A JOKE, 1-10 YEARS 13 WEEKS, 11-20 YEARS 16, AND SO FORTH. OUR CORPORATE OFFICE IS PROBABLY 50% NEW (A YEAR OR LESS). HOW CAN THEY SAY SOMEONE WITH 5 YEARS TO 10 SHOULD BE ON THE SAME LEVEL AS SOMEONE WITH A YEAR OR LESS EXPERIENCE??? WELL JIM MARCUM MADE SURE HE HAD A POSITION WITH THE NEW COMPANY, NO PLACEMENT FOR THE LITTLE PEOPLE,ONLY TELLING MANAGERS THAT IF THEY ARE CONFIDENT THEN THE CLIENTS AND EMPLOYEES WILL BE. WHICH EQUALS SMOKE BEING BLOWN UP OUR @$$ TO KEEP US AS LONG AS POSSIBLE. JUST WOULD LIKE FEEDBACK AND ADVICE.
The people that run Central Parking are a joke from Jim Marcum on down. I can only hope that Standard cleans house. If your looking for interesting reading look into the stories about Jim at Circuit City, including the story where he told all the employees their jobs were safe and the next day let them all go.
Cindy Baier is another winner, check out her stories from when she was at Sears. You'll find the part about how she got her boss fired and made a deal to eliminate the division all while making millions for herself very interesting.
I think all the executives are liars, cheats and wouldn't trust them for anything.
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