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> ″The shift to a business unit operating model is a continuation of our client-focused, balanced execution priorities and is designed to accelerate product and

> ″The shift to a business unit operating model is a continuation of our client-focused, balanced execution priorities and is designed to accelerate product and services, go-to-market, and corporate functions’ operating efficiencies across all geographies we serve,” Xerox CEO Steven Bandrowczak said in the release. Gosh, I really feel like I understand the rationale and the forward plan now.

robertlagrant 3y ago
Tl;dr: copy and paste ruined our business.
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reaperman 3y ago
Yeah, these statements really don't inspire confidence for me either as an investor or consumer, but I'm not privy to some of the investor calls where they elaborate on how they define these terms. Typically things like "business unit operating model" will be illuminated / detailed in other presentations with a smaller audience, and are just referenced in the press releases as little reminders to the institutional investors.
- tonyedgecombe 3y ago
  That's a very generous interpretation.
- lesuorac 3y ago
  Wouldn't it be securities fraud to give information on how the business is operated to some investors but not others? I suspect any explanation of those terms would need to be on their investors page. https://investors.xerox.com/news-and-events/presentations-webcasts https://investors.xerox.com/news-and-events/presentations-we...
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  - staticman2 3y ago
    I doubt that. This is a press release about a business. If press releases were illegally "giving information on how the business is operated to some investors" then, for example, Apple could never hold press events and would have to announce things on their investor page.
    - lesuorac 3y ago
      I don't think we're talking about the same thing. Parent said "but I'm not privy to some of the investor calls where they elaborate on how they define these terms. Typically things like "business unit operating model" will be illuminated / detailed in other presentations with a smaller audience". I'm saying that I think that Xerox can't be explaining things in this much depth to some investors but not others. Certainly Xerox can give information to CNBC to release to all investors (who read CNBC) at roughly the same time. It's basically public since everybody has CNBC access but a private presentation is by definition not public.
  - reaperman 3y ago
    As Matt Levine puts it[0]: > In principle the companies are not supposed to give the investors material nonpublic information during these conversations. In practice, the conversations are not social calls. The analysts hope to get something out of them. It's rarely "our earnings are going to be way better than anyone expected." It might be something vaguer and squishier than that: hints, body language, a general sense of how management thinks about the world, its industry, its competition, its opportunities. Or it might be something much narrower and more specific: The company might help the analyst with particular line items in her model, adding nuance to her sophisticated understanding of its financial situation. Specific clarification on details of their new "business unit operating model" would be a relatively normal thing to talk about. It's not something that is a smoking gun for insider trading, but can be written off as just general clarification of an industry term of art. This would be a normal thing for business analysts to get a deeper dive into. 0: https://www.bloomberg.com/opinion/articles/2015-07-31/when-can-investors-talk-to-companies- https://www.bloomberg.com/opinion/articles/2015-07-31/when-c...
- prewett 3y ago
  The 2.5% profit margin, 94% dividend payout ratio, and 125% debt-to-equity ratio really don't inspire confidence in me as a consumer, either. And a meaningless statement like that makes me think things are not going to turn around anytime soon. Unlike, say, Intel when Gelsinger took over--it wasn't clear if his plan was going to work, but he articulated a pretty clear plan.
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oceanplexian 3y ago
It’s so bad I would almost prefer that the CEO ask ChatGPT to write something more readable and empathetic.
AnimalMuppet 3y ago
Buzzword bingo.
- 15457345234 3y ago
  It used to annoy me but then I realised it's largely meaningless. Nobody who really cares is reading the generic press release; if the performance of Xerox is strongly relevant to your interests then you have better sources of information. The presser is just something for the comics to reprint verbatim, the more meaningless it is the better because that prevents it being in any way legally actionable.
marcosdumay 3y ago
Well, at least this part: > shift to a business unit operating model Translates to "dividing the company by product, and evaluating each product independently". What's meaningful. The rest of it is completely bullshit though. But I really liked "balanced execution priorities", that's an entirely antisemantic expression, you either have priorities or you don't.
geodel 3y ago
LOL. Same here. I was hoping there will be synergies but they seem to be efficiencies lately.

robertlagrant 3y ago

Tl;dr: copy and paste ruined our business.

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reaperman 3y ago

Yeah, these statements really don't inspire confidence for me either as an investor or consumer, but I'm not privy to some of the investor calls where they elaborate on how they define these terms. Typically things like "business unit operating model" will be illuminated / detailed in other presentations with a smaller audience, and are just referenced in the press releases as little reminders to the institutional investors.

tonyedgecombe 3y ago
That's a very generous interpretation.
lesuorac 3y ago
Wouldn't it be securities fraud to give information on how the business is operated to some investors but not others? I suspect any explanation of those terms would need to be on their investors page. https://investors.xerox.com/news-and-events/presentations-webcasts https://investors.xerox.com/news-and-events/presentations-we...
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- staticman2 3y ago
  I doubt that. This is a press release about a business. If press releases were illegally "giving information on how the business is operated to some investors" then, for example, Apple could never hold press events and would have to announce things on their investor page.
  - lesuorac 3y ago
    I don't think we're talking about the same thing. Parent said "but I'm not privy to some of the investor calls where they elaborate on how they define these terms. Typically things like "business unit operating model" will be illuminated / detailed in other presentations with a smaller audience". I'm saying that I think that Xerox can't be explaining things in this much depth to some investors but not others. Certainly Xerox can give information to CNBC to release to all investors (who read CNBC) at roughly the same time. It's basically public since everybody has CNBC access but a private presentation is by definition not public.
- reaperman 3y ago
  As Matt Levine puts it[0]: > In principle the companies are not supposed to give the investors material nonpublic information during these conversations. In practice, the conversations are not social calls. The analysts hope to get something out of them. It's rarely "our earnings are going to be way better than anyone expected." It might be something vaguer and squishier than that: hints, body language, a general sense of how management thinks about the world, its industry, its competition, its opportunities. Or it might be something much narrower and more specific: The company might help the analyst with particular line items in her model, adding nuance to her sophisticated understanding of its financial situation. Specific clarification on details of their new "business unit operating model" would be a relatively normal thing to talk about. It's not something that is a smoking gun for insider trading, but can be written off as just general clarification of an industry term of art. This would be a normal thing for business analysts to get a deeper dive into. 0: https://www.bloomberg.com/opinion/articles/2015-07-31/when-can-investors-talk-to-companies- https://www.bloomberg.com/opinion/articles/2015-07-31/when-c...
prewett 3y ago
The 2.5% profit margin, 94% dividend payout ratio, and 125% debt-to-equity ratio really don't inspire confidence in me as a consumer, either. And a meaningless statement like that makes me think things are not going to turn around anytime soon. Unlike, say, Intel when Gelsinger took over--it wasn't clear if his plan was going to work, but he articulated a pretty clear plan.

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oceanplexian 3y ago

It’s so bad I would almost prefer that the CEO ask ChatGPT to write something more readable and empathetic.

AnimalMuppet 3y ago

Buzzword bingo.

15457345234 3y ago
It used to annoy me but then I realised it's largely meaningless. Nobody who really cares is reading the generic press release; if the performance of Xerox is strongly relevant to your interests then you have better sources of information. The presser is just something for the comics to reprint verbatim, the more meaningless it is the better because that prevents it being in any way legally actionable.

marcosdumay 3y ago

Well, at least this part: > shift to a business unit operating model Translates to "dividing the company by product, and evaluating each product independently". What's meaningful. The rest of it is completely bullshit though. But I really liked "balanced execution priorities", that's an entirely antisemantic expression, you either have priorities or you don't.

geodel 3y ago

LOL. Same here. I was hoping there will be synergies but they seem to be efficiencies lately.