Everyone said there would be layoffs today. There was not layoffs today. SWN is doing good. Everyone quit complaining and do your job. You will be fine.
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I never complained. I did my job. Now I am out of a job.
Who's the idiot now?
SWN management seems to be trying to signal to investors that they will be making a course correction by appointing a new CEO. As an investor I think it may be beneficial to see some changes in their Board of Directors. Either the BOD is dysfunctional, unengaged, or uninformed. Why did they agree to the WV asset/debt acquisition given the commodity inventories and prices over the next few years? If SWN can pull through the next two years and meet their debt obligations they could be a good value, but a lot can happen in two years. Risky.
I heard yesterday that the bank called SWN's note due on the Chesapeake acquisition in Virginia.
Market cap now is half of the Chk deal. Oh boy!
Yea, that's what my SWN source told me too. (About the layoffs) No rigs = No production/revenue goals. He felt it was a matter of time for massive layoffs and perhaps bankruptcy.
The interesting thing is that last week, Steve Mueller "un-expectedly" resigned.
Mueller will be known as the one who built a very nice office complex and almost if not, will put SWN into bankruptcy.
After Steve"s reputation as the man that led many independents to bankruptcy , SWN is just one more example.
Now a real loser named Bill Way (Americas of BG Group) is now CEO. He can't pour piss out of a boot with instructions on the heel.
Harold Korell would have shut the whole CHK thing down from the beginning. He never liked paying for somebody else's play or acreage.
No lay off huh. What about me and another guy Sunday?
Hello Alice, you must live in Wonderland because there were layoffs yesterday. ( I know Accounting had layoffs on Thursday.). More are coming. You are kidding yourself if you think everything is fine. Maybe you should check your facts before you post.