http://seekingalpha.com/article/3774456-weatherford-are-1_4-billion-in-forex-losses-the-next-shoe-to-drop
2 replies (most recent on top)
Let's assume that I'm the only one working for WFT that understands big words so I'll break it down for you country bumkins after all " paw pay no nevermind no learnin "
Let's use fancy words to scare everybody!! Forex just means exchange rates between different countries' currency so it's always going up and down. Duroc may not understand the oilfield, but he does have a PhD in Economics and an MBA in Finance so it's a safe bet he looked into global exchange rates before deciding where to put what's left of our cash. That or WFT was trying to avoid taxes again and got screwed, because I could see that happening too.