You must be smoking crack & big dicks. NOV is in big trouble, no work coming in, tons of mgt. doing nothing, grab your life jackets the Titanic is going down!
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Hellya!
Even though NOv has a lot of debt, little cash, and small shops. We will make it to 2017 where more work is coming more hire, and overtime pay.
NOV can't continue to loss billions a year & stay away from bankruptcy. Even Elroy & Eb knows this!
You are deluded if you think NOV is strong enough to avoid bankruptcy.
Yo dumb--ses, NOV is the company in the oilfield that avoided taking on massive debt. We have some debt (3B) but a lot of cash too (1.6B) and a lot in receivables (2B). NOV recently cut dividends back to preserve captital and has good acces to captital if needed.
NOV's balance sheet is just to strong to imagine a bankruptcy. Like your job or not, the company isn't going anywhere
Surely it's not that bad yet???????
Plants are going to keep closing, more layoffs are coming. GE isn't going to buy this poorly run company. NOV has very poor reputation for on time delivery & quality equipment.
You've got that right. It's hard to over come the truth. The plant I work in the job sits for months, then a week before it's due we start. The job if all goes well will take 2 or 3 weeks. This happens time & time again. Who's in charge of jobs, no one knows. NOV in a nutshell.
If NOV is waiting for oil prices to increase, then bankruptcy is the only way out. Oil prices are going to stay low through 2017 and maybe all of 2018. NOV management is reactive and not proactive. There is work out there. NOV has to go out and find it. Of course, NOV's crappy customer service has probably ruined any chance of NOV surviving. It's hard to overcome bad press.