Emergency Board Meeting last night.
No all hands post Earnings call and stock slide.
Shows where our Owners and Leaders heads are at - talking only to themselves.
Shame !
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@1pod+1vtz2lxI I'm so stealing that from you. Harkenridingout... chef's kiss...
Those insider sales could trigger more selling this week. No bottom in sight.
Maybe Harkenrider and Baupost explains all the recent selling?
In other news, Harkenridingout has disposed of 12,000 RSUs and stocks on 11/12.
Check out the Form 4 on the SEC or Viasat Investors sites.
The Baupost disposal shows up on the same sites on 11/13
Baupost just dumped 1.5M Viasat shares according to latest sec filing. Can’t be good
On the earnings call they keep talking about "Strategic Alternatives", "Changing capital and financial structure" and "not getting a full sum of the parts valuation" for the businesses assets. Also, how they are "grooming the government and defense assets. And are happy they got a strong quarter."
Taking that language literally, all of that are buzz words for spinning off all or parts government and defense business into a separate entity and stock ticker. But could also mean simply selling off pieces to raise cash and pay down debt. Heck, you dwindle down some or most of that $500 million in annual interest expense the company could actualy be cash flow positive.
You can't get up when your internal organs are crushed
Is somebody gonna call the ambulance? It doesn’t look like the runner is getting back up…
we need an All Hands
They're trying to save their jobs.
My bet is selling pieces off in order to (they hope) stay afloat long enough for the next satellites to launch. Oh and of course, hope they work.
RIFs are no longer a strong enough action. It has to be a partial sell or complete sell of the company.
2019 called, they'd like to talk about the emergency you missed then...(coughstarlinkcough)
They're just now having an emergency meeting?? Wow, a bit late aren't they?
Probably meeting about how to respond to the short attack and falling stock price
Clearly the stock is the emergency. When stocks go this low, there are usually quite a few possibilities - investor lawsuits, downgrades, delisting, bankruptcy.
Without any knowledge of what the emergency is you can't really say their heads are in the wrong place. However, it does all looks like one big emergency.
Go old skool.
Ask your boss to ask their boss to ask the L3 to ask the L2 whappen at the BOD meeting and how the company gets fixed from here
OR, just keep on keeping on:
Baa, baa, baa sheep, Have you any wool? Yessir, yessir, I got three bags full.
Hard to ask questions when nobody's holding any all-hands anymore.
Dunno. Let’s all ask our L2s those questions?
What action items came out of this meeting? Holiday RIFs? Holiday anti-bonus (salary reductions)?
From somebody called to attend the Emergency Board Meeting
How'd you hear about it?