In my opinion, Weatherford will go up for sale in July. Reason I believe this is the govt monitor goes away in June. There are too many irregularities in what executive management says and does right now, even more than the usual. CEO told a large group on managers last January 2014 that "we are safe for 18 months" because nobody would want to buy us with the monitor in place. His favorite saying is we can hang together or we can hang separately. Don't know about you but I don't plan to "hang" either way! I'm outta here!
19 replies (most recent on top)
Is WP still around?
@AVj8bWx-fpxw. - this pains me as I do believe a large percentage of managers at WFT are not worth the air they breathe.
That said, your comments just reinforce that they are working with children and this company is truly doomed.
Good luck finding that next job.
You have issues, turn your truck in - buy your own and charge the miles back.
This company does a lot of things wrong, however expecting you to follow the law while driving for your own safety- well I can’t complain about that and I’m sure the families of their workers would have a hard time doing so as well.
Get over it already. As they are self-insured this was needed to help bring their premiums down but don’t let that distract from the fact it is a policy that is simply expecting you to follow the laws you are supposed to follow regardless
I don’t need all the beeping if my truck goes over the speed limit while cruise it set and going down hill. To the previous poster, if u were doing what you were supposed to you wouldn’t be on this site. Go brown nose where it counts
Stop complaining about the gps, if you're doing what you should there is no issue. With regard to journey management, given a large group of field hands work in remote areas this is a good plan - if it keeps someone safe it is worth it. Again, if you're doing what you should there is no issue and WFT is one of the few that is still issuing vehicles, would you rather complain about checking out a pool vehicle? S--- it up.
Weatherford could succeed if we didn’t waste money on gps devices, journey management, and a journey management app. How much should we pay to account for where we go and how many people other than a manager should we tell. They spending money and time on new useless procedures that delay the actual work. Get back to basics.
Haha, a lot of wrong people here. WFT isn't going anywhere, just going to have to adapt
How is weatherford holding out. Everything is just about closed down and moved around. How long can the investers ride this storm and keep pumping cash in. As gar as I know the plug is about to be pulled and its lights out.
Weatherford tried selling some groups last year, couldn't back up there claims - no buyer. Two attempted but didn't like what they saw and backed out.
89534- There is nothing that shows Darmesh bought 160,000 shares. I just looked. Even if he did that is a smart move because when Wft sells, he would more than likely get a premium for them
If upper management really thought there was a chance the company was going to go bankrupt, Dharmesh wouldn't have bought 160,000 shares a few months ago.
MBA hopeful. All you have to do is google Weatherford International and you can find A LOT of this information and it is from reliable sources such as www.bloomberg.com, markets.ft.com, data.cnbc.com, www.businessinsider.com. You cannot be an MBA hopeful if you do not know how to look this stuff up
Hello all. I peruse financial and business articles for my graduate school courses. I find it interesting that on the stratosphere, there is always talk about Weatherford finances, debts and bankruptcy. I know it is too much to ask but, can anyone direct me to a concrete article or analysis that illustrates such? Also, my condolences to all who had their jobs diminished. Perhaps, this is a chance to re-invent yourselves. I cannot imagine it to be easy but perhaps, your skills could be translated to other industries or better still, setting out a self owned venture, the possibilities are endless.
MBA hopeful.
Just a thought - Weatherford could file a chapter 11 bankruptcy and stay in business for another 10 years. As opposed to the chapter 7, which is liquidation http://bankruptcy.findlaw.com/chapter-13/chapter-11-bankruptcy.html
Who or what, would want Weatherford?! The survivors of the layoff, would find out that they were better off laid off or gone voluntarily!
Based on latest financial disclosure Weatherford International Ltd has Probability Of Bankruptcy of 58%. This is 11.34% higher than that of the Basic Materials sector, and 26.85% higher than that of Oil and Gas Equipment and Services industry
Yes. Just google WFT going bankrupt on NYSE in 16 months.....experts are predicting 58% we'll be out of business. You bet their looking for a buyer!
Weatherford Monitors are not going way for three years from November 2013 so it will be in November 2016 when they go away. Look up the criminal indictment. BTW Weatherford is under probation and if they violate any laws, they will be prosecuted under the guilty plea
You may have just said the most intelligent thing I have read on this site.