You cannot make $200 Billion Plus in Disastrous Acquisition Merger Attempts, Ignore your Thoroughbred Wireless Business, and take on the most Corporate Debt in America and not be in trouble. Sad thing is if they just boufht them and left them alone they would be mules ahead of where they are now. Stankey and Stephenson and their merger synergies aporoach ki-l companies and organizations. Overpay by 20-40%, ATT Bulldozer Approach shaves 15-30% off the exisiting value, a d then sell in desperation at a discount. Thats how a $100 asset ends up selling for $70 and you are still left with $20-$30 of debt on the books that youbhave to pay off with the wireless revenue stream you ignored for years. I ask how does Stankey and his cronies still have ATT badges? How can anyone lusten to these people about anything? Oh dont forget Stankeys massive failure was the government and covid. Rest of Stock Market Rocketed but it wasnt Stankeys fault.
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'Every new executive seems to think they need to make a big move and they usually sc--w up a smooth running organization/process."
Google "The Peter Principle" & you'll learn everything you need to know about at&t
The AZURE and AWS migrations are also costing way way more than they projected. I'm sure Legg will be leaving soon too as he doesn't stick around for more than 18 months in any one position. Every new executive seems to think they need to make a big move and they usually sc--w up a smooth running organization/process. They sell their grand idea as a cost savings but in reality they end up costing the company more.
For years they placated the shareholder base with a debt fueled dividend. That had to come to an end. This will be spun as Stankey "unlocking the value" of Time Warner. Street not buying it and stock is being dumped hard. The JIG IS UP after dividend slashed from pi----g away $200B in shaeholder value and destroying many American Jobs. The offshoring moves are a disasternand that will show up soon.