A normal way that the American free market system has worked is that we have a process of unwinding. It's called bankruptcy. It doesn't mean, necessarily, that the industry is eclipsed or that it's gone. Often times, the phoenix rises out of the ashes.
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Nope. WTF is not a US company. Weatherford International plc, an Irish-domiciled company.Headquartered in Baar, Switzerland. Operated out of Houston.
Hahah"stiffed suppliers excited about the phoenix" well if we didnt laugh we would cry. You know years ago wft was doing great. I think the 250 milliom dollar fines kind of took the shine off of it perhaps. Kind of got off track in a way. Oh well time to move on
You must be dumb. Weatherford (its a UK company isn't it?) is one of the worst managed in the oil patch and that is a worldwide reputation i.e. lack thereof. They've been bungling for so long , its not even funny. No wonder they went bankrupt.... 4 years of red ink?? All while the fat asses at the top were getting fatter and richer???? Only other company I can think of that came close is KBR perhaps, with 20 quarters (5 years) of bleeding. BUT, they didn't file BK, and weren't so badly hedged either.
Yep, we all milked it, abused it and finally dump it. The ones that stayed because of loyalty to their employer....... bad move. Too long to leave that mess in your terms.
Just as loosing 10 billion makes you a successful bussinessman.
if you are making a bird analogy, the extinct Dobo bird would be more appropriate for WFT
I’m sure all the stock holders and stiffed suppliers are excited about the Phoenix
The other side to that free market system is public capital and financial institutions. This company has lost the trust of both. No Phoenix here to be seen...