https://www.marketwatch.com/story/schlumberger-revenue-tumbles-35-to-fall-short-of-estimates-as-covid-19-oil-price-rout-weigh-2020-07-24?siteid=yhoof2&yptr=yahoo
Not looking good boys and girls. NOV next.
5 replies (most recent on top)
Apologies. *Our. Autocorrect.
@2six+167MgAqW True. It’s how we became obsessed with working capital. Then we starting extending our payment terms to our vendors, while we let are customers walk all over us, and then missed the irony.
Not to mention there was some weird stuff going on for payables where we were paying N90 but actually pushing it out to 120.
NOV management listens to investors and then figures out how to fit their people and structure into what the investors are whispering. "need to focus on . . ." then "We've decided to keep our organization exactly the same and try to do this new thing like (insert idea of the month here)."
What SLB will do is figure out a strategy to go forward and restructure the org to fit that strategy while NOV will continue to shuffle the deck chairs around the iceberg and wonder why they are still sinking.
Well put and to the point.
SLB's management is announcing their plans on how they're going to restructure and what they're going to do. I doubt NOV's management even has a plan and definitely won't be announcing it. Otherwise that might make them accountable for executing on something. Its much easier for them to just lay people off without thinking about things like business structure of process improvements. god forbid they actually have to do management things like disseminating information, creating KPIs and goals. Now that the market isn't pouring money into NOV we're really seeing who these managers are...they're glorified delegators with ZERO leadership skills.