This guy is in way over his head. AT&T for the 3rd time in 10 years bet on the wrong horse. Making large debt laden bets that hinder revenue and add interest payment liabilities has AT&T drowning with no lifeline in sight. Some will say content is king but this Management team drove off the talent to get the new content. They are getting black balled by the industry. Should have given Pfefler everything he wanted. He made HBO what it was and the AT&T leadership is doing all that it can to k–l everything and anything that drives profits.
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Stankey is king at marginalization. He is awesome at making people feel worthless.
"Unfortunately the company belongs to “the shareholders,” and the board of directors that “represent” the shareholders. "
In practice the company is controlled by the executives. Stockholders are for the most part passive as long as the dividends keep coming. That's just human nature. It is really obvious that AT&T executives are failing. No company that isn't in trouble has to worry about parasites like Elliot. The very fact they are sniffing around AT&T means there is blood in the water. What do our execs do? Create more layers of executive management and promise to buy stock back, of course. The choir of praise has to be enlarged and the parasite Elliott must be fed. That's how RS and JS keep their lucrative sinecure a little longer and guarantee their golden parachutes. With parasites like Elliott it's all about extracting wealth. If it smooths the path to share a little with the executives before they pull the trigger it's all good.
Unfortunately the company belongs to “the shareholders,” and the board of directors that “represent” the shareholders. They are free to screw up and destroy this company as they see fit. The board is “elected” by the shareholders. That is supposed to be the accountability and where they are held responsible. But in the real world it is all just a scam
Apparently the board of Directors seems happy with the way things are going, and have not taken any drastic measures to change anything. There is a push that the next CEO will not be chairman of the board. The big boys are moving forward on strategy that they put in place some years ago. Now how about some talk that this board was invented for, Layoffs, More coming 1st QTR 2020, and will continue throughout the year to get to the magic number.
Exactly. Lots of comments on this site about people "hating" on the T execs, but in fairness, these guys are paid HUGE dollars to try and foresee the future. They've failed again and again, starting with the botched TMo buy that Randy wanted. They're only human, but you gotta think the board of directors would've tightened their leash earlier. Yes, the dividend continues. But...there will be business school models built and discussed around the "what might've been" for AT&T, had it only had better/smarter leaders.