Just read where the T is selling more real estate holdings in addition to limiting raises, decreasing earned benefits, reducing retiree benefits, in addition to selling for pennies on the dollar it recent acquisitions in addition to layoffs to pay down debt.
Does this mean that T accepts the thought that more of us can work from home or does it mean that
those in the building will be surplussed and out of a job once the building is transformed into apartment living units?
Inquiring minds...............
10 replies (most recent on top)
They sold one of 2 buildings here in FL to save money. They are going to move the ots from one building to another. But they found out that they do not have enough parking. They sold the larger building/area instead of the smaller one. They sold the wrong one.
Sometimes companies sell real estate and then turns around and leases it from the buyer. That puts money in the coffers and the rent/lease payment is included in costs that can have tax advantages. It also puts the upkeep and other costs on the new owners.
This company is in total turmoil. No consistent strategy makes it impossible to know what the management is trying to do. All this turmoil will lead to failure and Stankey is the best at creating failure. Look how he screwed up Time Warner
In many cases they sell the property and buildings then lease them back. T is in a very desperate situation, they need cash to pay down the enormous amount of debt.
Converting commercial space into apartment or condo takes a huge amount of investment, which T does not have. No banks will let stank run up more debt.
Selling real estate means paying market rate for rent, money brought in from sales are for paying down debt or paying executives. Neither way, big zero for return on investment.
Gotta pay for all of Business Services techs sitting around
Doing a good job managing the company's assets.
‘Apartment living units’......What a novel idea. I wonder if T has thought about converting these buildings for multiple occupancy.... Perhaps ATT can then offer employee discounts on leases and you’d never have to use your car or public transport. Maybe they could be used for retiree condos; then we’d always feel like we’re still a part of the ‘T Community’. Now that you mention it, the possibilities are endless.
If I think of more, I’ll be sure to share with you. Apartment living, indeed.
It means T needs a very quick and very large infusion of cash because Randy & Stink made so many stoopid mistakes.
But hey, they're still getting their millions, so all is good.
RE: Real estate sales. If you’ve been paying attention over the last ten years, the company any has been getting rid of many, many of its properties. It’s not a secret. As the company shrinks and more employees work remotely; it only makes sense.
Your other comment about apartments….???