So we bought DirecTV for nearly $50 billion and now there's a chance we'll sell it for $20. Wow, we are truly being led by geniuses with unparalleled business acumen. Who knows, if they wait a bit more maybe we'll even be able to get $10 billion for it! Or $5 billion! Can you imagine?
I think this even beats Verizon and the whole Tumblr $1.1 billion to $3 million fiasco. At least that cost them just a billion, we are (so far) down nearly 30.
I never understood how lifelong telephone people thought they could run a media business.
I like how you say we bought. Lol!!!
Randal lost $30B or 300,000 man years of employment for the average T worker.
You go $1 over the daily per diem and VPs have a fit, but Randall loses billions and no one raises an eyebrow!!
Just go back and read the Elliott Letter - it's factual and on point.
Regarding AT&T C-Suite and Board of Directors - simply put there is no credibility because there is no accountability.
Donovan = Easterbrook
AT&T let go of 25% of their technical folks in August. There will be more layoff by year-end. I do not know why the higher-ups keep choosing loosers as companies to purchase...
The last batch of folks who were layed off got 2 weeks before layoff and they were out compared to 2 months or so to find a job within the company. The months of severance was the same but capped at 6 months. I had a friend at Verizon and they got a 12 months severance when you had many years of service. Not at AT&T!.
They were also told that it would be in their best interest to search for jobs outside the company. They also expect vendors to do the testing of their own products.... What quality can we expect then???? and why would any vendor spend money on their side to test for AT&T? There is no value for them on doing so. This is quite a mess.
I guess this is the new AT&T. I am glad that they are not building planes or launching rockets with folks on board....
How does AT&T create a $20Billion Business? Buy a $50Billion and wait...
The whole business is not for sale. Only selling an interest in the business.
Didn't he said 6 months ago the DirectV was an integral part of his vision?
Wall St. will put pressure on AT&T to make a deal to pay down debt. If it’s in the $20 billion range they will be forced to take it. Meanwhile the lawyers and investment bankers will collect hundreds of millions in fees! Randall will pocket $200 million and access to the company jet, paid automobile, paid country club memberships and free health insurance!!!
The little people will be left struggle from paycheck to paycheck with lower raises, more work, higher healthcare premiums and lower pensions!!
makes you wonder doesn't why they even bought dtv. it is so blatantly incompetent it almost seems like there has to be another reason that no one can see and only what went behind closed doors.
And who loses their job because if this? Not anyone involved in making the deal.
Accountability is for little people
Actually we paid 67.1billion for Directv when you include purchase of Directv's debt. But what's a few billion. Randy wipes his a– with a billion.
Randall’s tenure will be remembered as Randall’s folly!!
He was using AT&T to feed his ego on the world stage and in the process put the company on a path to ruin!!!
Maybe me it's the old "We lose money one every one, but we'll make it up in volume" thought?
;^)