Has an article about Jeff Storey still considering selling consumer side of the house. If its gone that far it means they are seriously looking to spin it off. Mentions 4th quarter earnings as well.
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Just fire Storey. His ability to give a c-ap about employees is horrible. His ability to care about customers that aren’t paying 1000.00 a month for services is even worse. He’s trash, period.
Anybody else lose standby pay while he whines about not getting his million dollar bonuses on top of being overpaid by 30 million?
Storey is a piss poor wanna be leader! To bad he’s got rich neglecting the employees that do the work. There’s a place for people like that.
They want to get out from underneath the regulatory aspects, to the L3 people it's like having a black haired child when everyone else in the family is Blonde and everyone knowing that it is a outlier and questions are always being asked is that his kid ? He is still responsible but also knows it isn't but it would cost too much to leave his wife so they have a dysfunctional untrusting relationship.
But in public it's one big happy family.
They have neglected maintenance and are losing customers, unless they can convert them to VOIP and sell broadband to them. The outlier customer that has no fiber and in the future will need a wireless type connection are the ones they are trying to sell off, Montana makes sense in that regards, sparsely populated mostly except a few areas and a lot of difficult weather and terrain so maintenance and access is an issue, it is also under the IBEW, a separate Union from CWA.
Divide and Conquer as well as dilute.
Nobody in their right mind would buy the consumer side. There is no profit, customers hate us, the CO equipment is ancient and the plant is horrible. The only choice they have is tell the FCC there is no profit, they can't afford to maintain it and just shut consumer down. No matter how much you polish a t–d it's still a t–d.
Storey is stringing the analysts along further. The whole review process was as much about kicking the can down the road as it was actually looking at selling/spinning off the "consumer" business, whatever that might be. Look at his hedging comments during the call. The review is over but they still won't make a decision about what to do with it because they haven't got a clue.
In order to make a sale happen they have to put something of value with the consumer deal, what are they will to part with?
I heard last year they offered to sell the consumer side in Montana to telephone cooperatives and none of the companies were interested...