The $2 billion dollar plan? Wasn’t that PV’s public proclamation?
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Just goes to show how out of touch the NR BOD is. Nothing but dismal numbers, out of control spending, pathetic choice of past president, and yet the execs CONTINUE to be handsomely rewarded???? Why don’t they dig deep and see why fluids can’t make decent margins? They might be SHOCKED to find out PV was allowed (by PH and the board) to fire/retire/run off all of the folks that made NDF previously. Now you have a bunch of wannabes that don’t know Sh-- from Shinola, but they continue to give it away daily!!! The executive plan to “get younger” has backfired and imploded fluids.
Proposal to be voted on at April stockholders meeting will give NR permission to raise the Restricted stock count from 9.8M shares to 12.3M by authorizing an increase/availability of 2,500,000 more shares of newly restricted for issue. Approximate 2.6% dilution for the everyday stockholder. These shares will to go to essentially "top management "as mentioned in the filing DEF14A.
Fake News, KATY
20 days till earnings release and possible announcement ? of replacement for pv . Been apprx 140 days since his termination. Must have an ace search firm on the job.
Oil is NOT $75.00 per bbl- It is currently $58.50 per bbl TODAY. you are still fos, as always. Your credibility is LESS than Zero.
Really come it’s work . Oil at 75.00 now bad!! KATY
Probably spending time in the pokey for multiple dui’s.
Have not heard from the boys, jb or katy lately. undercover?
SS is doing a magnificent job in the Permian. In fact NP is currently #5 in market share in PB. Need to extend his contract. Laughing stock of the patch...
SS came out of this deal smelling like a Rose.
Put 20m in his pocket, plus millions in investor group’s bank account.
NP didn’t give a rip about anything other than Mud division of Alliance and gaining market share.
SS is Now a VP of Newpark with along term contract.
Looks like someone had a brain.
Maybe the management team will buy SS out for 3/4 million or more. He does know the business and how to make money. That’s more than anyone or everyone put together in Houston can say.
Old Mud Engineer
The same upper management that started Brazil which has NEVER turned a profit. Then to top that, bought Rheochem in Australia and repeated NO profits again. And to top that off, bought Alliance in West Texas paying 2 times what is was worth. How much frac sand did you ever sale out of that deal???
Going under 8 tomorrow.
Same management team that screwed WW.
And blocks post, that speakes the truth.
From data released. Stockholder equity 12/2014 - $625M Stockholder equity 12/2018- $570M Outstanding Shares 2014 - apprx 84M Outstanding shares 2018 apprx 91M. Is this progress?
The same upper mgmt that brought in and hired PV. Stupid is as stupid does
nr stock in steady decline over last 3 or so weeks.
A Double standard.
The ones that once made NP millions of dollars got the shaft.
The upper management gets rich and c-aps on everyone else.
Some things never change....
From the 10K filed 2-22-2019 Page 73. As a result of the these modifications included in The Amended Retirement Policy ( ph and bs are the only executive officers of the Company who are currently eligible) The Company Expects to recognize a pretax charge of Approximately $4.2 MILLION in the 1st Quarter of 2019. This charge primarily includes the ACCELERATION of Expense for Previously Granted Awards for retirement eligible executive officers as well as the incremental value associated with the modifications to extend the exercise period of applicable outstanding options. What a Deal,huh. ONLY $4.2 MILLION!!!
Let's take a quick review after 10K release and other announcements. Section 10.20 part of 10-K (1) pv gets $1,105,306 in severance pay -released less than 17 months after giving him a new THREE YEAR contract (2) $225,000 due to Accelerated Vesting of One-Time Cash Award. (3) $69,445 for Annual Incentive Plan SUPER-OVER Achievement Award Payment under the 2010 Annual Cash Incentive Plan (Is that Unbelievable or what?) (4) 59,573 stock options- date of exercise extended from 90 days to 12 months. (5) $40,000 for payment of COBRA benefits for next 18 months. (6) $20,000 for Outplacement services over the next 12 months. (7) Accelerated vesting of 9615 shares of the special ,time-based award of restricted stock units (today's value about $87,000) . As they say, That's all Folks. For this one. But ph gets $738,000 cash bonus apprx NEXT MONTH for his performance 2 years ago. . got to be ready to pay the apprx $15K per year of taxes and maintenance fees on the Empty Carlton Woods lot owned for last apprx five years which is STILL For Sale after appx 9 months (this time) at $50K below the Purchase Price and $235K OVER the APPRAISAL Valuation (wonder why it will not Sell???) and 6% Realtors fee. And gw on the BOD, another EX WFT (stock trading at LESS than a $1/per share) hand, like pv. Finally turns it in after 13 year ride. The hits just keep on coming. Party on. Also, think I read something about a $4M or so special charge coming in the 1stQ 19 but we can wait till earnings report to get details. Over 100 days and no news on pv replacement/ are will there be one?
Yeah. You got it Joe- the Plan in NDFluids that loses $$$$ for the last THREE and ONE HALF YEARS. BOTTOM LINE- NO MATS DIVISION --NO NR therefore NO NDF.
Another stellar quarter posted by NP Management.