Finally, some1 said it, many people in snr management have watched the fall of the company and still get hi-salary
https://www.prnewswire.com/news-releases/q-investments-puts-the-weatherford-board-on-notice-for-its-history-of-value-destruction-and-broken-promises-300669897.html
Can the whole board!
As both an equity holder and a significant debt holder, we find it incomprehensible that such financial malpractice has been rewarded with six legacy Board members remaining in place since Mr. Duroc-Danner left. How are we and other shareholders to believe that Weatherford can right the errors of the past decade when those responsible are still sitting on the Board?
Key is to determine what do they want to look like. (presume this is already figured out)
Next comes selling the other bits off to get to a point that when you go into bankruptcy you have a chance of coming out of it with the debt shed and have creditors have faith in your new model to again back you.
That said, given the shape of the company and the lack of cleaning house as they have now been called out on, do not see this coming out of bankruptcy with current management at the helm and you are also likely correct that they will walk away no worse and actually with a good payout.
Men and women in the field are the ones who are going to take the hit. They should hope they are with one of the groups that get sold in advance of this turd flushing and perhaps their new company/management will have a clue.
Even if they sold it whole, they’d be upside down on the debt. What good does that do investors. The truth is it’s a big dumpster fire, no happy endings here...except for the C suite who walks with the cash.
@TQn5Bpv-gub ---- are you a WFT board member or perhaps a member of management? You attitude sure sounds like you might be. Why so quick to jump. Perhaps they just wanted to give attention to this.
With regard to never being sold, personally I think there are levels of truth to this. There will and must be parts sold to save the rest - it is either do this or it all goes down. How the "wise" board goes about doing this and what portions they want to keep is in question. It is apparent they do not really understand much of any of it.
This was posted 2 articles down, so next time, before you get so excited about thinking there is new news, look. You’re repeating the same sh-- the other guy said. The company won’t be sold. Hasn’t yet, and won’t ever.