AT&T’s “2nd biggest down move in 40 years” came “on nothing,” Yes, the company’s sizable free-cash-flow miss “raises understandable questions,” especially since AT&T has had to cut its outlook on the crucial metric in the past. But after speaking with the company and going through some math, he still sees the company’s $16 billion-plus free-cash-flow target for the year as achievable. In his wildest and wettest dreams will this be achievable at least not while the employees are being destroyed!
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I guess these Wall Street experts aren't as smart as they want us to believe they are, huh?
Here are a few reasons for T's dismal stock price:
- Unsustainable debt. T simply owes too much.
- A record of breathtaking blunders and business disasters going back at least 20 years
- Customer service that is among the worst in the industry
- Uncompetitive pricing for sub-standard service
- Sub-standard service at uncompetitive pricing
- A history of mass layoffs going back decades
- An arrogant CEO who is not only universally disliked by employees, colleagues, and his peers, but is also clearly out of his element, if not simply incompetent
- "Disruptive" product releases like DIRECTV Now, AT&TTV, and HBO Max -- all failures
- Adventurous mergers that not only created the debt but resulted in the utter destruction of at least two previously respected and leading companies
- A workforce that is demoralized, brow-beaten, and no longer engaged
- A stock price that is at an over 30-year low in face value, and nearly 40-year low in actual value when adjusted for inflation
- A company that is constantly losing ground to competitors in every field, but particularly in wireless communications, which is supposed to be T's strong-suit.
So, explain why anyone would buy T stock under these conditions?
Stripping away earnings, etc. stock price is in part the expression of confidence the public, shareholders, and employees have about an executive team and board to lead the company to meet its goals and commitments.
"Stankey should resign for the good of the company!"
You must be political genius able to resolve any crisis simply and quickly.
Bad news - it will not happen as 'good' has various meanings for various people. I doubt that major shareholders have better person by hand to manage their money nowadays and to change the CEO before a split or any other rescue maneuver would be extreme risk. Maybe once done then they send him off .
Stankey should resign for the good of the company! He should be the sacrificial lamb to preserve this company’s future if there is to be one! Resign John, to save this company as your last bold act of shear necessity!
ChatGPT entering into the conversation. LOL
"Some will have to go for the good of the company. They are the sacrifices for the good of the mission. For survival."
Is Stanky here defending himself. Sure everyone can and will be sacrificed for our dear leaders in C-Suites to keep their jets and luxurious lifestyles.
"Stankey is trying to save the company from going under."
The only person he is trying to save is himself. A CEO who really cared about the company and their employees would have taken a pay cut during hard times.
In our bodies, sometimes cells have to willing sacrifice themselves so that the rest of the body can live.
I agree, don’t take it personally. Stankey is trying to save the company from going under. Some will have to go for the good of the company. They are the sacrifices for the good of the mission. For survival.
“And the CEO just told 60K employees that he doesnt give a cr-p about them.”
You have lost perspective. Stankey never said this. The decisions being made aren’t personal. Just business.
The AT&Titanic!
What I do not understand is how is AT&T buying all these companies & yet there is no income? Why is AT&T in debt & still paying for operating cost? The numbers do not add up. Where is all the income from selling data? Colocations? Xander? HBO Max? Direct TV? They are sold/merged with other companies & AT&T is still footing the bills. Something doesn't make sense at ALL. 145 billion in debt & no profit? come on
And the CEO just told 60K employees that he doesnt give a cr-p about them. The culture at AT&T probably the worst of any company in history. Skankey and Legg are egomanics that have literally failed at everything and put T in $150B in debt.
It’s not that complicated. T services are extremely overpriced when matched against competitors.