Anyone?
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one weatherford ..,🤣🤣🤣🤣
Ask a coworker how they feel about the company today.
Pink Floyd !
Hello.
Is there anybody in there?
Just nod if you can hear me.
Is there anyone home?
Come on, now.
I hear you're feeling down.
Well I can ease your pain,
Get you on your feet again.
Relax.
I need some information first.
Just the basic facts,
Can you show me where it hurts?
There is no pain, you are receding.
A distant ships smoke on the horizon.
You are only coming through in waves.
Your lips move but I cant hear what you're sayin'.
When I was a child I had a fever.
My hands felt just like two balloons.
Now I got that feeling once again.
I cant explain, you would not understand.
This is not how I am.
I have become comfortably numb.
The POS Jag is a microcosm of WFT.
Yessir, I offered BDD a ham sandwich. He graciously accepted the offer, and threw in the POS jag.
Anything at wft takes a while. Everything takes 2 weeks minimum.
It takes Weatherford about a year to sell anything after announcing it. This is after they’ve been working it for at least that long before announcing
i thought they were selling Laboratories?
To make a sale you need a seller and a buyer. You are half way there.
It is my understanding that BDD is out looking for his next deal, might picking up WFT from the creditors be the last slap in the face we see from the group?
Their massive debt, disheveled facilities, and capital equipment in disrepair their inability to make money at any level I don't see anyone buying them.
Asset deal will be preferred over share deal
Would have to be sold in parts. Big question is how they have the debt distributed across those parts. In past years, not sure since Mark came on board, different business units that were the golden child of an exec or board member would have their poor performance moved over to another business unit - either because it had a positive cash flow or because it was less glamorous and had no one to defend the move. A lot of these moves were done via journal entries the day before close so the saps in the BUs did not have time to react and push it back.
Overall with the amount of debt and the valuation of inventory still inflated anyone doing due diligence would quickly see this and run for the hills. Just as WFT is not going to be able to dig out of this hole, no one is going to pick it up until it goes into bankruptcy where the pieces are maybe worth something.
However, given the way WFT treats folks and that a large majority are jumping ship as the Koolaid has run out there is little reason to pick anything up. You'll be able to buy any tangible hardware at auction soon just like you can buy the managers fishing camps now.
Maybe Bits & Pieces, Arms and Legs!
What company or group in their right mind would buy this steaming pile of cow defecation?
No, too much debt. They would if they could even thought they talk about how much value there is....bottom line there is none if you can’t make any money.