Piedmont restructures management

Full story: Charlotte Business Journal

Charlotte Business Journal - 4:40 PM EDT Thursday Piedmont Natural Gas Co. Inc. is offering early retirement to 23 managers as part of a restructuring plan.

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PNG Outcast

AOL

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#1
Apr 17, 2006
 
Is Piedmont reorganizing or is there a mass exidous of managers at Piedmont Natural Gas. Why would there be so many managers (roughly 1/3 of the managers) be retiring early? One reason is that the do not have confidence in Thomas Skains and the board of Dircetors. The other is that PNG wants to elimante all the regional offices to save money. That has been part of their plan for years. They only want to do business with people who can pay via online. I think it is time for Mr Skians to leave, and a change of the board of Directors before they become the next ENRON.
Gas Hog

United States

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#2
Apr 21, 2006
 
It appears that all the testimonies at the North Carolina Utilities Commission have taken their toll on Piedmont Natural Gas. From poor accoounting methods and changing of financial records from previous years, to falsifying information to the commission. Managers have said that their is no leadership at Piedmont Natural gas, but a dictatorship. No wonder 1/3 of the executive staff is retiring.
PNG Outcast 2

Statesville, NC

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#3
Oct 16, 2006
 
Do you really think that these managers retired voluntarily? I'm sorry if you believe that, but you would be wrong. Things are more rotten at PNG than you had imagined. Skains and his cronies forced this large group of long term managers into retirement to cut payroll expenses to raise corporate profits. Do you think that this "restructuring" is going to improve the service that the consumer receives? I'd bet against it. This winter, if you're not happy with the service that you receive from PNG, call the Utilities Commission and raise hell. Demand that they hold Tom Skains accountable for the damage that he has done to this fine company that once took pride in how it served the customer.
Vinnie Boom Botts

Waxhaw, NC

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#4
Nov 8, 2006
 
PNG and the rest of the natural gas industry is forced to reduce costs due to customers reducuing their gas cinsumption through conservation. The shareholders run the company and they demand a steady dividend. Senior management is obligated to keep the Company on a sold foundations and cutting the "fat" was a logical solution. Those who were cut were well treated, most receiving a8 months severance and FULL retirement benfits with HEALTH INSURANCE. Not really a bad deal in these days and time. I should be so lucky. Good for your, Piedmont Natural Gas, in recongnizing fiscal rsponsibility and taking care of your loya subjects in the process. Salute!
PNG Outcast 2

Statesville, NC

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#5
Nov 10, 2006
 
Well, now we know that PNG is reading these postings, folks. The message posted above by "Mr. Vinnie Boom Botts" is obviously PNG's official attempt to be clever. Apparently, PNG is so sensitive to the critical comments that are being posted on this site, they feel the need to respond under a pseudonym. Well, "Mr. Botts", you're full of crap! The group of managers who were forced into retirement weren't treated as well as you suggest. Most were given an opportunity to elect to retire early, and warned that if they didn't accept that offer, and if their job was eliminated later (wink, wink) they would get much less. Some didn't receive even that favorable treatment, they were just told to clean out their desks and leave. It was a case of blatant age discrimination. If that's your idea of being well treated, then I'm glad that I'm no longer part of that organization. PNG's management is interested in taking care of shareholders only to the extent that it earns them their bonuses and larger pay increases. They are destroying the company in the process, and ultiamtely, the shareholders will pay a price for their poor management decisions. Salute right back at you, Mr. Botts.
Former PNG Employee

Charlotte, NC

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#6
Nov 14, 2006
 
I agree with PNG Outcast 2. "Mr Vinny Boom Botts" is a clever immitation of an PNG executive trying to cover their ass. PNG executives should be ashamed to show their faces in public, and to their familes. How can these poor excuses of "leaders" live with themselves in such a corrupt environment. Of shucks, I forgot they are lead by a former Attorney who has no values, or morals, or anything else except deep pockets for taking the companies money and getting ready to run off with more.

PNG does not exercise fiscal responsibilities. If they did why do they make false official statements to both the SEC and to the North Carolina Utilies Commission? How can they continue to shift money between accounts and not think they will get caught?

You asked about why the NCUC is not taking actions, hmmm would it possibly be a pay off from good old PNG to some members of the NCUC? It appears that while some members of the NCUC are turning down PNG issues other members are eating it up, and not looking at the documents posted before them. They enjoy the show of hot air, and act of the dancing PNG executives.
Piedmont CURRENTemployee

Charlotte, NC

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#7
May 15, 2007
 
Sounds like a few people who no longer work for the great company i work for are upset for that very reason...Grow Up!!! and move on...Piedmont is a solid and ethical company and always will be. Go attack Bank of America or Wachovia (or hey guess what,any large company)for having a management restructuring...and yes...poor, disgruntled, ex-employees...the people that were asked to retire were treated exceptionally well...by anyones standards.
A Former PNG Manager

Statesville, NC

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#8
May 15, 2007
 
Well, senior management speaks to us all once again. Sorry guy, but too many people know the truth here. A number of very good people were treated very poorly in last year's restructuring. Many of those folks helped make PNG the company that it is today. They were shamelessly pushed out of the organization by a bunch of newcomers who haven't done crap for the company. This new management team is now lining up to collect their bonuses and pretend that they are making a difference, but they are just that - pretenders. The folks who built this company are now mostly gone, and ashamed of what has happened to PNG the past two years. If you believe the crap that is being shoveled off of the 8th floor of the corporate office, I really feel sorry for you.
Former PNG employee

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#9
May 16, 2007
 
I guess the Current PNG Employee is either a "yes" man, or very stupid. Everyone (yes I mean everyone with a brain that can comprehend) knows how terrible management at PNG is. Look at how their stock is being rated, and how over the past 2 years it has gone from a recommend buy to almost a don't buy. How can you honestly say that people were treated well when you took away years of hard work, and replaced it with a little money to make people think you cared.

Mr Skains - I know you read these from the comments my old co-workers have expressed to me. Take this opportunity and leave before someone goes postal on your sorry ass.
Former PNG Employee

Winston Salem, NC

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#10
May 17, 2007
 
Vinnie Boom Botts wrote:
PNG and the rest of the natural gas industry is forced to reduce costs due to customers reducuing their gas cinsumption through conservation. The shareholders run the company and they demand a steady dividend. Senior management is obligated to keep the Company on a sold foundations and cutting the "fat" was a logical solution. Those who were cut were well treated, most receiving a8 months severance and FULL retirement benfits with HEALTH INSURANCE. Not really a bad deal in these days and time. I should be so lucky. Good for your, Piedmont Natural Gas, in recongnizing fiscal rsponsibility and taking care of your loya subjects in the process. Salute!
I don't know where you got your information but I spent 43 years with png and I was told i did not fit into the new "Culture". I am still looking for the health insurance benefit as I am paying 757.00 per month for insurance. You need to get your facts straight. The only ones they are looking after are the few at the top and damn the rest.
Former PNG Employee

Winston Salem, NC

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#11
May 17, 2007
 
The problem with PNG now is that the people in charge have no idea that a pipe has a hole in each end. Gone are the people who gave a damn about customer service and safety. All you hear about now is the "new Culture" and respect meetings Piedmont Pride and other such nonsense... Gone are the days when Piedmont gave a damn about the customer who made the company what it is today by buying a space heater, range, water heater and riding the bus downtown to pay their bill every month. What goes around comes around so I hope to live long enough to see the sorry bastards get run off. Remember Live by the sword you also die by the sword.......
A Former PNG Manager

Statesville, NC

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#12
May 17, 2007
 
Well Mr. Skains, do you have anything clever to say in response to that?

The truth will come out eventually. You may have some people fooled with this talk of "new culture", but the people that I talk to around the company are afraid of what you clowns are going to do next.

How many jobs will you have to eliminate to earn your next stock award?
Former PNG employee

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#13
May 18, 2007
 
Mr Skains could care less about how many jobs are left as long as he gets his bonus, and his stock awards. He has convinced the board of directors that he is what they need as top dog. He has tried to convince the media, and the investors and is not having that much luck. Look at how the analysts are slowly dropping the ratings, and whether to buy or sell the stock. Mr Skains justs wants to keep the stock up for awhile till he can sell his and then move back to Texas. It is too bad the Board of Directors cannot see through the bull shit. But when you are a talented deceiver like a former lawyer (Skains), and you can smooth talk your way, why not rip off a once great company for your own personal gain!

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