It’s a busy week in chaos at Electrolux, with:
- Electrolux dropping hints of Keith McLoughlin stepping down from CEO position
- http://www.reuters.com/article/2015/06/25/electrolux-ceo-idUSL8N0ZB17F20150625
- Various rumors that Keith’s family has left Sweden for the United States. (why the hell would they want to leave Sweden?)
- Keith McLoughlin saying he’s staying with Electrolux to see the company’s way through the GE acquisition,
- http://www.charlotteobserver.com/news/business/article26424478.html
- The US Justice Department saying “oh no you di’int” to the GE acquisition
- http://insiderlouisville.com/business/u-s-dept-justice-files-antitrust-lawsuit-stop-geelectrolux-deal/
- Electrolux stock downgraded
- Electrolux stocks crash 11%. Incidentally it was the worst performing stock on the FTSEurofirst 300 index.
- http://www.wsj.com/articles/electrolux-chief-executive-vows-to-remain-at-helm-1435841545
Can you just imagine how much fun it is to work this week in Electrolux PR?
In the spirit of Electrolux monopolizing the appliance news, the ApplianceAdvisor wishes to suggest a new noun.
Electroluxup (electrolux-up), noun, Gigantic Snafu. A screw-up so large that no single person can see or comprehend all the implications of the disaster.
Usage1: The $25B that BP will pay for the oil electroluxup, may not be anywhere close to the actual cost of the disaster.
Usage2: Sawing off your leg with a skill saw is more of an electroluxup, than a minor accident.