After today’s call regarding chapter 11 is everything going downhill from here?
I know it’s an obvious answer wonder what’s going to happen to the UK.
9 replies (most recent on top)
@YnE438f-2wpn This is just ignorance. Chapter 11 is a tool to transfer ownership to the new owners. We’ve been a damn drag on our private equity owners for a hell of a long time and they probably got sick of spending time on us.
Agree 100%. Sgas tank (aka... new products...) is empty. I take no relish in this, but it’s a fact - hense chapter 11... Kodak, Polaroid, yahoo were all pioneers.... they are all dead ... oh that’s right yahoo was bought for penny’s....
I'm surprised of the people who have drank the Kool-aid and now feel this will turn the company around. The only thing that is turning around is the hedge fund investor's investment. In a year or less AS will be sold or split 500 different ways to repay the hedge funders with interest. And Giggles will be giggling all the way into retirement, finally getting his millions for disposing the company one way or another.
Positive for whom...??? At this point, what is in the financial interest of sgas new owners... they gave up ~$400+m in debt owed to them to gain control.... they will want their money back with a premium....
Let’s give Andy a chance. He has financial experts, I’m sure they have plan to take the company in positive direction through this Chapter 11 restructure.
I know what you mean looking to strip down costs and expenses in the wrong areas whilst other vps claim expenses on first class flights lol.
All we can hope for is that someone buys the UK but I can’t see who will.
My director and his VP have already been spewing emails and having trickle-down calls all day to "ensure we be careful not to put the wrong spin" on things.
They'll know who I am if they read this, don't give a sh_t. Y'all, I have busted my a-- for years, penny-pinched and gone without, in DC ops you have no idea.
The problem is Sr mgmt running this into the ground. We just had kickoffs all over the company talking about how much we need to sell and save money this year, and for what?
HR - all you folks reading this, please, let me go.
Yep giggles made out today was a joyous day I guess it’s panic time to look for a new job ASAP
The answer is a question.... what is in place to build a better future for sgas...? Hedge fund/vulture capitalism doesn’t believe in 3-5 year plans.... they want return on investment; sooner vs later.... for those I used to work with at sgas, I hope they have something ready to go... but, hope has never been a good strategy.....