Some truths: the fact that this outfit has essentially been a one trick pony for so long will finally be the death blow of this company. There are no magic levers that can be activated to offset the historic plummet of the oil and gas markets. Beginning in early March, as people have locked down, the historic demand destruction, (and yes, OPEC hasn’t helped) on oil and natural gas is too much for this group of third rate c-suite’s to overcome. I apologize to all that have hung on and put your faith in these “leaders”. Having been privy to sitting by their side for many years, I must confess that they are just as lost as you are. There is no plan in place. Remember that movie Titanic? Exactly. I’d love to say this company has successfully endured historic economic cycles before, but I can’t say that with a straight face. Successfully laid off 60% of the employees maybe. SWN has dedicated employees like you, but you are so underserved by your unseasoned and, quite frankly, failed leadership, it’s quite a travesty. I wish all of you future successes given the dire circumstances and longstanding challenges.
10 replies (most recent on top)
Press release bullet point
“ Reduced cost structure by a total of $60 million in 2020 across all expense categories, with additional savings measures in progress”
Additional saving measures = LAYOFFS!!!!
My interaction with the COB was never positive and she could only mime silly management speak as how to solve any SWN problems, and if you want to truly understand her ethics and morality you should look into her tenure at ARCO. Very Salty!!
Will be listening in on analyst call and can’t get out of my head the post of a certain person wearing a garter belt using grown up or big “business” words to impress. Is this for real or what?
Betting we will hear about layoffs in the upcoming analysts call. Whose with me! Post a yyyyyyeeeeeesssss!!!!
OMG, you guys are funny. Especially with regards to testing the springs. The Aaron Rental mattress is genius, I think we could start a new line of Buisness.
The Go To Guy has great insight on the situation. I've also worked alongside the C-suite and I can attest this group has no plan, no idea, no strategy except for waiting until something lands in their lap, if that ever happens. Anyone who thinks there is a secret plan or tricks to deploy or moves to make is fooling themselves as they sold the only asset of value and have sold everything else that isn't nailed down. All of this from a CEO who thinks he invented leadership but has actually no insight on what being a good leader means as any competent executive assessment would reveal so many issues and shortcomings he'd be booted in a minute anywhere else. His insecurity, low level of competence and thin-skinned nature tell you all you need to know, as he's a poseur who listens to the boss lady Cathy and is fine to be her lap dog as she has no clue either. Show me any banker who can run a company well and I'll buy you lunch. CC and Julio are hanging on for a paycheck and have no plan other than keeping their jobs in bankruptcy.
How’d them there springs hold up? I’m looking for a mattress that can support my old lady’s 550 pound frame and still able to “spring” a bit more if you know what I mean. Thanks for any feedback.
Laying here in my double wide in the hills of WV. The old Sears and Roebuck mattress has served me well with the misses. Hoping I get another paycheck to get a new mattress from Aaron Rental. Love my job and will be on location at 9 Am as usual. Bye so now me and the misses gonna test the springs out now
All SWN needs is another day til payday. Then after that, another day, SWN mirrors a soup line.
Thanks Go To Guy for being straight up honest and truthful!