OFS ran the company into the ground, and the merger was to obfuscate the poor state of the financials. Jeff got to leave and save face which was nice. But frank was viewed as one of the view that could stop this from turning into another GE. The fact that OFS can’t figure out why they report to OFD is comical.
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OFS can't find their way out the door fast enough. OFD has arrived to save this company from the ruin of the past! Current stock price is a result of the past leadership not getting out the way and letting FB lead.
I’m guessing in some cases OFD and OFS don’t get along
It’s not easy digging out of all those OFS screw ups, but we’re doing it
I see the OFD shills are setting up the excuses for their inevitable failures now, before the inevitable crash hits.
Hearing Tom from epay making a run to replace frank. Think he has the connections to pull it off?
Back above $103 briefly today, hopefully those who were still holding at $93 cashed out.
Hey there child, your writing style is quite strange. You might be on the list soon. So bro, the facts are the facts. Ask yourself, if OFS was so great, why are all of them reporting to OFD.
Pandemic debt binge creates new generation of ‘zombie’ companies: https://www.ft.com/content/9b304e20-49cf-4fba-81a0-4d06f930d7a1
Cheap borrowing helped companies through Covid-19 crisis, but repayments are set to be a burden
September 14, 2020 3:00 am by Joe Rennison in London
The onset of coronavirus — and the drastic policy response from central banks — has produced an army of companies limping along in the twilight between the living and the dead.
A decade of low interest rates had already sustained a rising number of companies that were able to borrow cheaply and amble on with operating profits that fell short of the interest needed to pay their lenders. Now, the bond binge that followed the depths of the Covid-19 crisis in March has accelerated that trend, giving rise to a new generation of these so-called corporate zombies.
At the end of last year, 13 per cent of companies in the Leuthold 3000 Universe index — akin to the Russell 3000 index of US companies — had staggered along for at least three years with a repayments shortfall, up from 8 per cent at the end of 2008.
But huge market interventions from the Federal Reserve in response to the pandemic dragged down corporate borrowing costs from decade highs in March to historic lows, and facilitated unprecedented debt issuance from companies desperate for cash to outlast the virus’s economic impact.
Fund manager The Leuthold Group calculates that 15 per cent of companies in its index could now be classed as zombies.
“It’s a real worry for us,” said Jun Zhu, a portfolio manager at The Leuthold Group. “More companies are loading up on debt and the number of zombie companies is going up. What happens if all of a sudden capital markets dry up and they cannot refinance or pay down their debt? How will they roll it over or even afford the interest expense?”
Zombies have been more numerous once before: just after the dotcom bubble burst in September 2000.
Ms Zhu said the growth in the number of companies in this predicament comes at a cost to the broader economy, holding back productivity and growth. “We are now at a very concerning level,” she said. “I think zombie companies are in a really dangerous position if the economy turns down.”
I am OFD and this is not comical. "What will FB do now.!?"
Stock price: $93.06 as of this morning, so FB is really making that stock fly high into the sky.....eh, ground. Has some way to go before $ 145.
BTW - KKR k–ls companies it buys by leveraging so much debt that no firm can dig out of that hole. Henry Kravis is ungodly rich off of this practice. FData was such a story. KKR then brings in management that can cut,cut, cut to carry the debt load. Only exception was Lou Gerstner who came in for Nabisco to build, not wreck.
Gee, I'm sorry, which company was it that fed Wells Fargo information so they could continue their scams? Oh, that's right oFD...so watch your mouth child and allow me to enlighten you. Your conjecture fools no one but you. oFS had a very strong history with proven performance. oFD actions were sketchy as he!! to be polite. Can't wait for my end date to get away from misguided people like yourself as I simply can't work for or with people that lack integrity. Go check your facts child and stop throwing stones...you are the prostitute in this scenario and sadly enough, you think he loves you.
That’s the only trick they know, fear and intimidation. So pathetic.
Clearly the market is not buying what FB is trying to sell. Every time he does a TV interview the stock plunges further down. My connected insider told me layoffs will be brutal on both the OFS and OFD side as the leadership turns up the pressure.
The OFS folks are delicate and still can’t figure out how they got their pockets picked.
The only zombies are the OFS people that got pushed aside.
First Data was a Zombie company.
Wikipedia: In political economy, a zombie company is a company that needs bailouts in order to operate, or an indebted company that is able to repay the interest on its debts but not repay the principal.
Zombie companies are indebted businesses that, although generating cash, after covering running costs, fixed costs (wages, rates, rent) they only have enough funds to service the interest on their loans, but not the debt itself.[1] As such they generally depend on banks (creditors) for their continued existence, effectively putting them on never-ending life support.
I am OFD and this is not comical.
Lol. This child doesn’t even know what OFS stands for. I am pretty sure it was First Data that FB drive into the depths of debt before KKR conned everyone and made bank while the company fell apart.
18 Billion in the red, someone needs to learn how to use a calculator, just saying.
Ah another FData shill at work. Fiserv was doing well when Jeff ran the place - sure there were issues as with any large firm. But FB is out for his own wallet and nothing else. Look at the layoffs and the corporate spying being performed today. FData trusts nobody at any time. And the company was not run into the ground either. And FData has taken over all management positions.