Maintaining a positive attitude throughout our bankruptcy will help us rebound quickly after the case ends. The federal bankruptcy laws can help us reshape out finances and get a fresh financial start. So put a smile on your face, and know that things are going to be better soon.
I hope.
You guys are mo–ns. Wft will come out of it with an acceptable balance sheet be bought by Halliburton for a reasonable multiple and ride off into Halliburton land
And I’m getting a unicorn for Christmas. Happy happy happy!
I did my part to help the financials and left WFT long ago. Huge management wage and Bonus off the books. Four years later they file for bankruptcy! I guess going to the competition was the right choice. I’m making more money, took my customers, and don’t worry about my job or some kiss a-- trying to keep his job.
ZKn69a1 Is just more of the bobble heads regurgitating the same head in the sand message being pushed bu management that have set themselves up financially when the ship finally sinks! He must be one of those saying chapter 11 is not bankruptcy! id--ts!
hahaha.. Yes WFT is very good at "Reshaping finances"" Just ask the SEC. They are also very good at terrible business that fails to make a profit. They should use WFT in business schools as examples of what not to do, and if your and executive WFT would be a dream job. 0 accountability, bonuses for failure and lucrative compensation even if you're let go for incompetance.
Things are already better for the Execs that got millions in bonuses after declaring bankruptcy. Not so good for anyone who owned WFT stocks. Still amazes me how fare people can have their heads in the sand. WFT was never meant to succeed the game has always been blow through loan cash and skim off the top whilst giving family and friends contracts and jobs. All you have to do is look at what has happened. Weatherford could not make money even in a boom. Already the only reason WFT still has any work is due to the push to increase cash flow which resulted in poor contracts that barely break even. Now that things are picking up WFT is forced to honour these contracts whilst loosing money. Round and round it goes. its a 100% certainty that after the new loan money comes through, WFT will cook the books to appear to be doing well for 2 quarters after that...suddenly they will default blame market conditions and Chapter 7 will follow. Again just look at WFT's history. How many promises to stake holders kept? Non . Thats ZERO! Long list of failures. Ohh ya and expect CEO to reign before year end. He gets his bonus either way.
Good Grief!! Anyone with a lick of sense knows they are on the WFT-Titanic. You, my friend, are still aboard the good ship Lollipop headed for Peppermint bay.
Bankruptcy is just a bandaid over a deep wound . WFT is doomed and everyone still employed is only riding on a already sinking ship .
“Caring” can’t be put in the bank and the last time I checked our vendors and creditors don’t accept “Caring”
Im sure all the majors and NOCs wont mind wft being in bankruptcy and will award all best jobs to wft based on the stability bankruptcy brings
Unless someone like you cares a whole awful lot, Nothing is going to get better.
It's not.