The body is alive but is on artificial life support. The tiny blips are just what's left of a pulse. Probably best to check back in a few months for any signs of recovery.
We have all been through so much, pull the plug Doc.
6 replies (most recent on top)
sell all the sh-- out, we are just good at pipe work, ffs hand some fishing rods to some 19th century oldies who have just been stuck with this company. cut them all.. just making $$ for being email kings..
If this board had a like button that last post would get it. Don't agree with everything stated but it is in the high 90% the portions I do.
Hope the good folks they have find homes as WFT begins the process of selling off BU in attempts to bring the debt down - as stated, this is not going to change the end game however may be a better path at paying some creditors and salvaging some jobs and products.
They talked of divesting two groups here in Q1 for 500M, what is the word on which two it is?
Barclays downgraded Weatherford yesterday, and for good reason. It will take much longer to revive WFT based on the current strategies. But in the end, the result will still be a bankrupt company. No Angel Investor will appear for this dog! The debt makes Weatherford have a negative enterprise value. And if you remove the goodwill and other intangibles on the balance sheet, because they are worth next to nothing, the picture is even worse.
The situation is simple. Any company that wants the assets that Weatherford has can build all by themselves for less money than buying WFT stock. 7 billion goes a long way. WFT spent that money on businesses they destroyed over the years.
WFT has proven that more information doesn't make for better management. They have way too many programs (software) that they wasted money on over the years. Things that cost millions every year to maintain, but never led to better decisions. The mistakes WFT has made over the years compounded, and they never made enough good decisions to tip the scales in their way. They waste time and money every day because of the systems they have set up, and everyone has to follow. Their own policies are strangling them every day, and wont allow the body to survive.
The fat lady is already going memememememe
The Fat Lady is warming up to sing & the bugler is ready to blow “the Last Post”.
'He's dead, Jim.'