It's just 3.44 billion nothing to worry. Next on chopping block is some random BU.
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no worries -1rtu, I'm sure you meant "absolve". we're all drunk most of the time these days, so no biggie. ;-)
but you've got a good point about how upper (and middle, and front-line) management is very noticeably absent from the general landscape these past few months.
this morning's announcement kinda makes one wonder how much of a loss we took on the Panhandle sale, given the previous 1/2;2/3 losses on the San Juan/Barnett assets that have sold so far. i'm sure it was just an honest oversight that they didn't mention any sales figures in the "oops, we mentioned a sale in the public press release this morning that we haven't informed the drones of yet" internal email that came from the hockey player this morning, a bit after the public press release was sent out.
but at least we've got the newly-updated uber-propagandistic reels blaring from every TV in every coffee bar in the company telling us how we're now on the right track. along with the incessant repetition of the UR engineering reel that is so painful to watch because one of the engineers is so obviously uncomfortable on camera...how did that reel actually get approved for distribution? you can't help but cringe every time you're subjected to it...and lord help the poor kid who actually performed that abomination. i'm sure he's considered ultimately hi-pot due to his head full of kool-aid, so I doubt that utter failure in a public forum will be a hindrance to his imminent meteoric rise...
buckle up, citizen...you live in interesting times.
Notice RL and MF did not even attend the conference call. That won’t absorb them from accounting responsibility under Sarbanes Oxley.
Pretty ingenious (creative) accounting: from “second-quarter 2017 loss of $3.4 billion, or ($2.78) per share, compared with a second-quarter 2016 loss of $1.1 billion” somehow ended up with “second-quarter 2017 adjusted earnings were $0.2 billion, or $0.14 per share, compared with a second-quarter 2016 adjusted loss of $1.0 billion, or ($0.79) per share” just so that you can BEAT CONSENSUS. The street ate it up, share price jumped more than 2%. Insiders know this is not sustainable.
Your selective filter (just like Trump voters) left out crutial information that excluding special one time items made money. Still a great company to work for !!!!
Use of Non-GAAP Financial Information
I like how they won't give a number for Panhandle since it is probably a number well below the book price. But yeah they won't stop at what they have already sold. Let the ELT keep making the lives of our employees hell while they make millions, welcome to the new America.