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Principal Layoffs - 3-10-09

Re: Principal Lays Off 550

Knownothing said:
Someone needs to change this thread title or let this thread go and start a new one. It appears at first that Principle is letting over 500 people go. Then you really have to read it to understand that was an article from December.
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And you need to know that it is Principal, not Principle. BTW our football coach is Rhoads.
 
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Whatever dude! You don't know me well enough to make some general characterization about me! Why would I blantantly fabricate something like that... Easy there smart guy!:realmad:

I heard this story about a new principal building in NYC over two years ago, I'm not an insider at principal, but my wife use to be.

I just find some irony into the fact that most of these layoffs will be to people making the least amount of money in the company, and was genuinely offering support to them. Either way, you can be sure the CEO's and board members will be able to keep their fat cat salaries and corner offices...

BTW PolkCityClone, "without" can be conjucted into one word...English101


PolkCityClone said:
Talking about things with out facts - like your NYC building post sickens me. :no:
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delt4cy said:
Wow! I did not know that. I knew they had struggled the years prior.

But I do know that chatter around the PFG halls was that Health would be the next piece to get sold/cut/split.
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Most of that talk was from those outside of Principal or those in Principal that really did not have all their facts straight. The Health division has always made money, just not as much as their goal the past few years. Mostly due to very bad forcasting. This year we had a very good year, actually one of the better segments as far as earnings went this past year.

Health was never going to be sold just a lot of uninformed rumors that were floating around. if you talked to anyone "in the know", they have always said that Health wasn't going anywhere. This past year proved more than ever before why being so diversified is good for Principal. While the financial segments struggled, the insurance business is helping keep things looking better than the definitely could. I work in the Health insurance business at Principal, fortunately for me, I was not directly affected by the layoffs today but my thoughts and prayers go out to those that were!
 
Not to take sides, bit it was pretty ignorant (and unhelpful) to throw out some false rumor about Principal building a skyscraper in NYC. I mean seriously. What company (outside of a development company) just randomly builds skyscapers in cities that are not their corporate headquarters (or at least have a sizeable presence)?

Anyway, PFG is a victim of being in the wrong sector of the economy. They still appear to be a very strong company and should rebound once the rest of the economy does. I think the biggest concern for Des Moines and central Iowa is the fact thatthe stock price has gotten so beaten down, that they could be a target for a takeover. Iowa has so few Fortune 500 companies located here. It would be too bad to lose this one.
 
To all those who were offended by my post, referencing the skyscraper in NYC...I appologize. In my own defense, I honestly heard about a building project in NYC a couple years ago and figured they were still pumping money into the project. I was exploiting this issue alone, to show a mis-management of funds and PFG's jumbled priorities...

:dull::dull::dull:
 
CubsnClones said:
To all those who were offended by my post, referencing the skyscraper in NYC...I appologize. In my own defense, I honestly heard about a building project in NYC a couple years ago and figured they were still pumping money into the project. I was exploiting this issue alone, to show a mis-management of funds and PFG's jumbled priorities...

:dull::dull::dull:
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Whoa, whoa, whoa........apologies and accountability? This kind of behavior has no place on a message board. :jimlad:
 
lol..I didn't realize I was going to stir up a hornet's nest like that...SHEESH!! I really enjoy this site and have a lot in common with most people here...I didn't want to ruin my credibility with a comment that was unpopular among those people...I'm in damage control mode!!:eek:

But seriously though, I honestly made that comment in good faith that what I heard on that particular building was absolutely correct...

dosry5 said:
Whoa, whoa, whoa........apologies and accountability? This kind of behavior has no place on a message board. :jimlad:
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d4nim4l said:
Someone posted the internal memo concerning the layoffs. It was then modded out at some point. Sorry about that.
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A note to the yung 'uns out there...

Posting internal company memos on Internet message boards is generally frowned upon by employers.

Just sayin'...
 
CubsnClones said:
lol..I didn't realize I was going to stir up a hornet's nest like that...SHEESH!! I really enjoy this site and have a lot in common with most people here...I didn't want to ruin my credibility with a comment that was unpopular among those people...I'm in damage control mode!!:eek:

But seriously though, I honestly made that comment in good faith that what I heard on that particular building was absolutely correct...
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Settle down there, young man. We will not accept any more accountable behavior. Blame Ferentz or somebody for it. Say it was McDermott's fault, even JPs. Chizik would be fun to blame. But don't own up to it yourself:jimlad:

Just kidding. I respect you a great deal for doing that.
 
jbhtexas said:
It happens more than you might expect...
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Of course. I just found it funny that you had to quote me. As far as I knew the poster I was speaking to was missing out on the memo. Then I discovered it was modded out, which is obviously the correct call.

You're just being you again. It's ok, I get it.
 
d4nim4l said:
Of course. I just found it funny that you had to quote me. As far as I knew the poster I was speaking to was missing out on the memo. Then I discovered it was modded out, which is obviously the correct call.

You're just being you again. It's ok, I get it.
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Well, it was you or Jeremy. Your explanation post was first, so I quoted that one. Sorry if I offended you in some way by quoting your post...
 
I have friends who work there. I'm sure most of you do to based of the amount of posts.

This is not a good thing.
 
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