Thread regarding Windstream Corp. layoffs

They pay themselves millions in bonuses while we dont have money to buy network spares or pay our vendors. Generator and hvac vendors refuse to come back out to the site due to not being paid. Several hvacs in alarm with no means for netops to get them repaired. No generator vendor to service the engine or replace fuel filters......we are going to have severe critical infrastructure failures this summer in our central offices, but that will most likely be the banks problem as they will be running the company then. We just had a card failure and lied to all our customers saying it was a fiber cut we could not locate for 2 days while waiting on a spare to be shipped from another market. Things are bad right now.

KEIP was approved:
https://news.bloomberglaw.com/bankruptcy-law/windstream-approved-for-as-much-as-18-9m-in-executive-bonuses

I don't have a subscription so I can only read the first part of the article.

Windstream wants to continue paying Uniti. This is a dispute from the creditors. The LR5 and the Uniti team are all friends and family that want to keep this gravy train moving and them to continue to get paid.

More magic tricks and smoke and mirrors from the Arkansas 5, SIGH. When will this finally be over.

Anyone who still thinks the Arkansas 5 will turn this around is probably the most stupidest person in the world after this. This is a con job and they don't care if you know about it anymore.

"Show Me The Money !!!!!!" Arkansas 5

The creditors may support KEI even if they don’t like it.

Reason: they need top execs help to say exactly the “right thing” as witnesses in the trial over Uniti lease. The legal arguments are very “nuanced” since they otherwise contradict what Windstream said during the Uniti spinoff and afterwards. Windstream and the creditors are making the argument that there are subtle legal distinctions that change everything.

Probably a long shot but billions ride on it.

How artfully the execs thread this needle during cross-examination without contradicting their previous comments or worse, committing felony perjury, will be critical. The creditors don’t need resentful witnesses “shaving points”.

Interestingly, when the lease issue came up, Uniti added an additional lawyer to its team: an expert in perjury prosecutions. Probably did this to send a signal.

Any hope that I previously had that there was a tiny chance that TT was actually not a self obsessed con artist is gone.

Shouldn’t this shady one upsmanship way of constantly trying to outsmart their way out of doing the actual work (and come out rich while laughing at how stupid they think everyone else is compared to them) really make the judge insanely angry? The lr5 needs to be in prison at best and not see another dime at worst

As a judge reviewing this all one has to do is look at the Duck Tape produced slide presentation attached and see the goals are to LOSE money across all business units. Why would anyone approve bonus on losses.... But then again Lil T and fantastic 4 are so valuable that company would fail without them ohh wait a minute it already failed. Big Tex and the Colorado gang are smiling bright all they gotta do is shine Lil T's feet and they'll get their KERPs

Well that is no good, we can’t give internet away anymore to hit goals.

Well know we know how they spend their time instead of actually doing bankruptcy work

The adjusted the Min and Max thresholds and kept the 100% threshold the same. Which for anyone who knows about the KERP plan the 50% threshold is a complete joke, the 100% goal is what your going to get almost a give me and the 200% is a might get, you might have to work a little bit to achieve, what a goal!

They also appear to have drooped "Net Broadband Adds" from the Kinetic & CEO/CFO/GC goals. I guess they realized they can no longer pull the wool over the eyes as these Net Broadband Adds are just the cyclical nature of broadband inflamed by the fact we are selling it a bottom basement price, adverse to operating margin (at damn near a loss), to get these adds.

From the new KERP Plan:
*"the below performance metrics shall be modified by increasing the threshold
performance amounts from 10% below the plan target amount to 7% below the plan
19-22312-rdd Doc 1413 Filed 01/14/20 Entered 01/14/20 15:38:33 Main Document
Pg 6 of 14
3
target amount and reducing the maximum performance amounts from 10% above
the plan target amount to 7% above the plan target amount; the revised performance
metrics are as follows:"*

So what this has done is brilliant. It has risen the Min threshold but lowered the MAX threshold. Which means its harder to get the 50% payout and easier to get the 200% payout. As i said above the 50% payout is almost a guarantee its a joke. Well now its even more of a joke and the max obtainable is easier to get.

Old KERP Plan: Page 15
New KERP Plan: Page 7

OBIDAR CEO CFO GC (OBIDA/OBIDAR are non-GAAP metrics and should be taken with a grain of salt):
FY20 New Plan: MIN: 1518 - Plan: 1632 - Max: 1746
FY20 Old Plan: MIN: 1469 - Plan: 1632 - Max: 1795

Enterprise Strategic Revenue (and WTF does that even mean, being they can leverage anything and everything as a "strategic revenue" to meet the goal.)
FY20 New Plan: MIN: 312 - Plan: 335 - Max: 359
FY20 Old Plan: MIN: 302 - Plan: 335 - Max: 369

Kinetic SMB Revenue (whatever customers they decide where enterprise yesterday are now SMB today, converting batches of these customers also shows "growth" to this number.)
FY20 New Plan: MIN: 282 - Plan: 304 - Max: 325
FY20 Old Plan: MIN: 273 - Plan: 304 - Plan: 334

So their revised plan will make it easier for them to achieve the 100% and 200% goals. I think that should satisfy the objections to the US Trustee! Great JOB TEEEEAMMM!! So proud of my leadership!

Better check your ticket see if you’re lucky enough to be one of the 100