We need another intervention letter from the Elliot Management Corporation.
6 replies (most recent on top)
We need an intervention
BEAD funding for AT&T is a pipe dream, municipalities and States know T is trying to pull tax money out of their States. They are and will continue to partner with companies that live and support their economies. T is not the favored house hold name it once was.
Oh, I think that the Eliot group is more than well aware of the toxic pit of incompetence and despair that is T, and want absolutely nothing more to do with anything even remotely related to this place.
Calm down, there is Federal Bead project money coming for a nationwide broadband initiative, 42billion split between companies. The ceiling is definitely lower but the sky hasn’t fallen yet, there is still a lot of revenue being generated. It took a decade plus to get in this situation and will take much longer to re-emerge a viable, smaller, with a lot of the fat removed, company. You can thank your illustrious leadership for the current situation.
Just a small sample of cutting the fat examples:
- Recently to finish a project it took calling three different groups for each individual task with long wait times on the same equipment. One group could have easily handled all three task at once, it wasn’t difficult and didn’t take long once each one answered. It is a very inefficient and time consuming process.
A. Necessary Process Improvements
- How many levels of VP does one company need? There are levels within levels, there definitely needs to be a flattening of levels then, increasing span and control.
B. Headcount Reduction for non-essential positions, ie.. layoffs
- Does the company really need pilots and their own planes these days? Renting super expensive suites, car rentals, chauffeurs, food and housing at various sporting events?, Chefs for the C-suite, etc…
- Reducing excessive expenses
These are just a token of inefficiencies and expenses that need to be addressed with an unbiased eye to make this company back to at least competitive and sustainable again.
It's worth a try!! Give it another three months-
If Q2 does turn out to be a FCF dumpster fire, followed by issues with RTO and location consolidation, and finally more pain with Q3 FCF and a $12 share price, then the wheels really will fall off. There will be nowhere to hide - the BOD will be pressured by the investment community to finally act and/or there will be some VC firm activity.
How do you figure that will help? They came in like gangbusters and in short order “everything was fine” no more changes needed. They (Elliott) & their assigned guy got paid for sole kind of “work”…
Did I miss something that was a good result from the initial letter that many thought was going to produce good change?