Are we still a New Kind of Company? Remember that bland meaningless phrase slapped across everything, repeated endlessly at meetings and on analyst calls? Haven't heard it for awhile, have you? It was code for "we are trying to be TechnipFMC," Onshore, offshore, technology. Sound familiar? This is DD trying to compete with his OLD company. Nothing new about it. To speed things along we hired an exec from TechnipFMC. He oughta be able to bring some useful skills with him, right?
Why did we buy everything at CBI? Why did we pay $4bn for a company whose market cap was $1.5bn only to writedown $2bn not 6 mos. after the deal closed? "The focus projects were underbid from the start. There was nothing we could do to fix them." So why why WHY did we buy them? And pay so much for them? Did we not understand Onshore? Why would we buy a business so clearly troubled that we don't understand and didn't value right?
Why are we selling tanks to keep the Onshore business we've lost interest in?
Why are the bills piling up? Is there any way we could wipe clean all those extra bills and keep everything else? Like maybe bankrupt just Onshore? Are the extra bills just for Onshore?
Are we still a new kind of company? Are we still striving to be DD's old company? DD's ego trip has been a very short very wild ride. Can I get off now? Tell me again, where's the door?