This won't be the last chapter 11 bankruptcy filing for this zombie company. Think of the embarrassment and shame of having this company on your resume.
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This thread is very entertaining. The bankruptcy comes at a bad time. The global economy looks like it will head into a recession in about 5 months. The folks at Ion will not have many employment options for a few years. Usher should be sued by the employees for gross negligence.
…once part if my job was to listen to quarterly analysts presentations of all the seismics. Hanson’s became a different, entertaining category for excuses and new ‘strategies’ going forth. But. To announce that bad results are because traditional customers don’t want to buy what you have to sell tops anything that Hanson was ever able to conjured up.
Ion blames clients for bankruptcy filing because they are not spending money on exploration. Lenders will swap 2nd lien notes for 99% ownership. Ion will seek buyers for all or parts of the company. If no suitable offers are made then the lenders will assume total control of the company.
There goes Warren Buffett again with his weird obsession with a company that broke his heart and squashed him 7 years ago. Saved up your tips from KFC to buy a 6 pack, then wallowing in alcohol fuelled self pity and come to the forum again to try to let out his rage as his wife after 7 years is fed up of hearing about it, sorry Warren
A new 52 week low is achieved today at 34.92 cents per share. Too bad tomorrow is a holiday.
Ion stock is now down almost 14% and headed to a new 52 week low. I have been warning you. Do not pay any attention to those who mock The Oracle from Omaha.
Warren Buffet, not sure why the foot soldiers should be ashamed just because the management is incompetent. I’d be rather more ashamed of wasting my time publicly foaming at the mouth over a layoff that happened seven years ago, but that’s just me.
It must be hard to have outlived your nemesis. Can I offer you an egg in these trying times?
Warren Buffett - those employees that are still there now have survived many many layoffs and are not completely unemployable like yourself. After 7 years of job searching you’ll be bottom of the pile for employers looking to hire once those at ION go back onto the market.
Bitter much? Sheesh.
Ion stock down today over 32% because of bankruptcy filing. Many, if not all of you will be unemployed this year. Continue to live in denial and don't make any effort to find work elsewhere. There is no law against being stupid.
Getting bailed out is normal for this organization. Weak business model, poor unconnected leadership, in a competitive commodity market. Anyone with talent and connections departed years ago. Going to bet the data library is over valued so it is even worse than it looks.
Houston Texans #27 on the Top 30 list of unsecured creditors
And we wonder why IO is bankrupt!?!
The fat lady has sung!
WTI at $100. World short of oil supply. And yet ION has gone bankrupt!
How do we apportion blame?
Peebler for pushing ahead with the highly leveraged Aram acquisition in the midst of the global financial crisis and for choosing Hanson as his successor?
Hanson for his overall incompetence, lack of knowledge of the industry and company he was leading, and general lack of integrity as a human being?
Usher for doing what he normally does as the CEO of a geophysical services provider - lead it into bankruptcy court?
How are you going to fill your sad, lonely, forum lurking, unemployed days now ‘Warren’ ? McDonald’s didn’t work out did it? Try KFC I hear they’re hiring.
That’s a hat trick for Usher!!