By closing offices, offloading the pension and other benefit liabilities and cutting 15k employees Stankey is preparing the company for sale. He’s offloading as many encumbrances as possible. Stankey would get 3 times his salary in change of control.
The company will eventually be sold and broken up. Wireless goes to the highest bidder. Gigapower takes the fiber portion.
It will be sold at a 60% premium, and given the lackluster performance so far, stockholders will jump on it.
Maybe T can get the same bailout given to SVB? If shares keep heading lower toward single digits we are all F’d. Quit, take lump sum and or annuity payments if you are feeling lucky. Take a Listen to that last earnings call if you want to get a feel for what is happening, no one on that call seemed confident in our leadership to dig their way out of this massive debt. At some point we are going to have to stiff some of these payments to survive. Great fiber numbers but can we look at the hit to cash flow?
A phone company really don't need that many workers. Stankey is doing the right thing by right sizing the company and getting rid of unneeded workers. And having so many workers with outdated skills isn't very healthy for the company.
For a company whose current market cap is $118B, would a $173B debt load not be some kind of poison pill? Would you buy a property worth $118,000 if there were $173,000 in outstanding liens against it?
I suppose they will do some clever thing like the Reverse-Murphy-Bed transaction they did with TimeWarner spinoff to reduce debt though it appears to still be there. (Sorry, that should be Reverse Morris Trust. I misspoke, though "reverse Murphy bed" seems a better description of current management style here)
I could envision TMUS buying AT&T, when they go bankrupt, but not until then.
TMUS has very, very deep pockets. Verizon is busted a-s broke, in debt $150B.
I think Stankey continues try to sell everything off just to keep the lights on. AT&T is in alot worse shape financially than Stankey will admit. Desperation is starting to sleep in.
This place is a total mess and all the employees know it but leadership is in denial and has been for the last few years. Lack of leadership and knowledge of the business = a lost cause. After 18 years I will gladly step a side. This place is a total sh-t show where everyone is not able to speak any truth as that is not allowed. Get in line or get out!! Total BS as most employees care very much about the relationships and customers we serve.
After the sale all retired technicians collecting an annuity will be given 220k for additional pension.
You’re an id--t.
Government won't allow verizon or t-mobile to buy T. Who would want this mess outside of those two?