Well, that would be the main issue. Last time that WFT tried to sell a bunch of BUs, they only sold the cream of the crop ones and were left holding the bag for the rest. The only ones to sell were turning a profit(or only smallish losses caused mainly by bloat), or were too damaging to a competitor's profits and selling for cheap enough that it was worth it for them to buy and shut down. So WFT was left with an even more useless grouping of BUs that weren't a good complement to each other to promote selling the other after one may have done good work, and the ones turning small profits aren't helping buoy the ones with bigger losses.
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I'll happily dance on Weatherford's grave if/when they go down the gurgler. I'd especially like to see my former manager with his belongings tucked under his arm, frog marched to the door. In an ideal world, WFT will have run out of money at this stage and the cunt gets a severance check of approx $0.
October is show your cards time to the shareholders. The real books have to be shown, not the doctored books. This is why all Octobers are financially painful in these downturns in the economy. To sell your company in parts you have to have a market for it, who has the money to buy assets no one wants? To me I think there will come a day when they just lock up and say thats it.
Interesting statement. I don't think they will Shut the Doors.
I think they will have a major sell down of assets and business units
More layoffs will definitely be in the cards
For a company to survive with this amount of debt you would want to have 100% confidence the bank doesn't call for its money early
Weatherford will not shut down, they will just continue to downsize.
Good I can't wait I got laid off earlier this year hope it crashes and burns
Nobody will want to buy them with their $7 Billion debt when the company is worth less than that.
October. I think October you'll see the doors just locked. I'd be making sure my office was clear of personal items by this Friday.