Can someone please translate this BS to english?
In a statement to KSAT-12, Fletcher Cook, AT&T Vice President of Corporate Communications, said “this sale is a result of the ongoing strategic review of our balance sheet and assets to identify opportunities for monetization. We want to ensure that our assets support our overall strategy and areas of market focus. Where this is not the case, we transition them to owners who will provide incremental stewardship and investment.”
In English, we are doing our jobs. You guys should do you jobs too.
Are there any T employees left in San Antonio?
harvard mba speak for employees are all screwed and thanks for making us billions so far but see ya later.
So, how much dod T make on this sale? We know they spent in excess of 12M since moving the HQ's to Dallas. Who did they sell the naming rights to?
Can’t wait for the day we walk away from AT&T stadium.
Yes, and how many jobs were cut during this 12 year waste of cash? Seems like cutting this expense would have had a higher priority on Randall's agenda. Another 12M + that could have been put to better use.
"We bought the naming rights with the Spurs when Ed Whitacre was CEO and T was headquartered in San Antonio. Since then T headquarters has been in Dallas for over 12 yrs and CEOs have changed twice. It's long overdue to cut the remaining ties to SA."
We bought assets we don't need/don't know how to run/don't fit in our business and now we want to sell them to someone who really does need and want them so we can get cash
Nice try at corporate spin, assert monetization doesn't apply to a one time sale for cash. This isn't any different than taking your stereo to the pawn shop, I'm sure the wife will be extremely impressed with the "assert monetization".
Translation: "Due to a series of boneheaded strategic decisions, we can't afford cool stuff like this anymore".
There is an overall sponsorship consolidation underway to help the bottom line. Sports venue locations have a horrible ROI.
Translation “We’s done sold it to someone that knows what the ells theys doing. We’s too d-mb for that shet.”