"Windstream reports 1Q loss of $2.3 billion amid bankruptcy cloud, executive pay"

https://talkbusiness.net/2019/05/windstream-reports-1q-loss-of-2-3-billion-amid-bankruptcy-cloud-executive-pay/

Interesting mix of news/spin:

"Turning to the company’s disappointing and delayed first quarter results, Windstream reported a net loss of $2.3 billion, or a whopping $54.26 per share, compared to a net loss of $121 million, $3.25 per share, a year ago. Revenues for the three-month period ended March 31 fell 9% to $1.32 billion, compared to $1.45 billion a year ago..."

"Those results included a $2.3 billion non-cash goodwill impairment charge in the first quarter primarily due to a new lease accounting standard and the filing of the Chapter 11 reorganization case..."

"“Windstream began the year with another solid quarter, demonstrating the company’s continued momentum in the marketplaces we serve,” said Thomas, highlighting 11,400 new subscribers for the company’s high-speed Kinetic fiber internet service..."

Comment! It's anonymous!

9 replies (most recent on top)

"It's the end of Windsteam as we knew it"

Windstream was never setup to be a 'profitable' telecom company - it was setup to be a cash cow for these top 5 id--t executives - bleed the company dry and ask for bonuses after filing for Chapter 11 - and they knew they would get it.

Had the company had actual leaders with telecom experience running it, who knows where it would be now - probably not any worse. Look at Cincinnati Bell - they are hurting, but still manage to still do well because they have knowledgeable people in key positions - and they don't have 5 or 6 different systems that haven't be integrated in over 5 years after 'buying' those companies.

TT and his Zombies had this planned out for a long time - and will be rewarded with jobs in other companies where they will be welcomed as heroes to Corporate America Greed because they took the money and ran.

look at the comments

https://twitter.com/Windstream/status/1128655025998303232

"I've had excellent earnings this quarter." Tony Thomas

There are 15+ customer disconnects for every 1 customer turnup. Execs are grabbing as much cash as they can as the end is near. Tony Thomas ran this company into the ground quickly. The shell company of Uniti is doing better than Windstream. The CLEC model has been dying for years and he just kept buying up every CLEC he could. It made absolutely no sense. And they never integrated any of the companies, they all operate separately still. They didnt bother to bring them together because I think this was the plan all along. They just connect a few OC48s between the networks and call it a day. All still operate out of their own engineering and sales databases. It will make everything easier to sell off this way.

It's the end of Windsteam as we knew it

Better start cooking those books TT so you can swipe a few more million dollars.

"How in the hell is losing $2.3 Billion dollars a solid quarter?"

It is on planet LOSEstream

How in the hell is losing $2.3 Billion dollars a solid quarter?

couldn't happen to a nicer bunch of cr00ks.

Thread regarding Windstream Corp. layoffs

"Windstream reports 1Q loss of $2.3 billion amid bankruptcy cloud, executive pay"

9 replies (most recent on top)

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