iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Grubhub CEO Backpedals Off Anti-Trump Rhetoric; Stock Tanks Nonetheless

Matt Maloney is trying to recover from his PR nightmare, one that likely caused his lead counsel to throw up on himself in the middle of the night — thinking about the mess he’d have to deal with in the morning.

Although he’s trying to say he never meant that Trump supporters weren’t welcomed at GRUB, it sure as hell sounded like it.

While demeaning, insulting and ridiculing minorities, immigrants and the physically/mentally disabled worked for Mr. Trump, I want to be clear that this behavior – and these views, have no place at Grubhub. Had he worked here, many of his comments would have resulted in his immediate termination.

Further I absolutely reject the nationalist, anti-immigrant and hateful politics of Donald Trump and will work to shield our community from this movement as best as I can. As we all try to understand what this vote means to us, I want to affirm to anyone on our team that is scared or feels personally exposed, that I and everyone else here at Grubhub will fight for your dignity and your right to make a better life for yourself and your family here in the United States.

If you do not agree with this statement then please reply to this email with your resignation because you have no place here.

First of all, none of that shit is correct. Like most libtards who toss bombs, he’s distorting the things Trump has said and is insulting every single Trump supporter at his company — not to mention half his customer base. After all, if you voted for Trump, you must be a very wicked and hateful person, if we are to believe the horseshit coming out of the email box of Maloney. How can an employee read this differently?

Here’s today’s letter, most likely crafted by his general counsel.

This year’s presidential election was undoubtedly divisive and left many of our employees feeling concerned. In response, I wrote a company-wide email that was intended to advocate for inclusion and tolerance — regardless of political affiliation — during this time of transition for our country.

Some of the statements in my email (please see full text below) have been misconstrued. I want to clarify that I did not ask for anyone to resign if they voted for Trump. I would never make such a demand. To the contrary, the message of the email is that we do not tolerate discriminatory activity or hateful commentary in the workplace, and that we will stand up for our employees.

Grubhub welcomes and accepts employees with all political beliefs, no matter who they voted for in this or any election. We do not discriminate on the basis of someone’s principles, or political or other beliefs.

I deeply respect the right of all citizens to vote for the candidate of their choice. In fact, I offered extra flexibility on Tuesday and encouraged all our employees to go vote. There is a place for all points of view at Grubhub. We value diverse perspectives and believe those perspectives help to create a better product and a better workplace culture.

Grubhub’s leadership team has worked for years to create a culture of support and inclusiveness. I firmly believe that we must bring together different perspectives to continue innovating. We are better, faster and stronger together, and so is America.

Posted by Matt Maloney, Grubhub CEO

Wall Street doesn’t give a shit what he has to say today. The stock is sharply lower in aggressive melt your face off trading action — down by 4.5%. If you’re long the stock here, at 80x earnings, after the CEO insulted 50% of the country, don’t be surprised when the company misses both earnings and revenue expectations next quarter and the stock is a fraction of what it’s trading for today.

grub

 

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3 comments

  1. dragun

    what a tool period

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  2. matt_bear

    Fuck him. At least be a man and own it. Trying to walk it back afterwards is worse.

    That said, the #1 thing i’ve learned in my corporate career is that anytime you’re about to make an emotional reponse, whether it be via email, phone, or in person….you’re better off to pause and really assess before you hit that send button.

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  3. LP

    The guy won an “impossible” race against the “anointed one” and spent much less $ than she did to do it. One may conclude the old “any press is good press” tactic worked wonders for him – even if it was people running with the wrong ideas.

    Her campaign planned on a fireworks display when they won – money well spent. Meanwhile, anyone asking where the rest of unspent money – if any – is going? Anyone think it’s going to charity? If so, have a guess which?

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