"Divvy was ALREADY cut last year, FTR was proactive on that issue. Recent cuts by CTL are just playing catch-up. Frankly."
FTR divvy cut did not prevent the stock from going down, nor did the $350 mil a year divvy cut prevent a debt downgrade a year later.
The word "proactive" lends a level of dignity to FTR's management that seems out of place given what has happened since Feb 16 2012.
I believe FTR is headed for a big RIF -- and it's not proactive because FTR is way behind -- Q4 2012 saw revenue drop by 3.9% and Operating Expenses up 3%. Apparently the only thin k "Synergy Savings" were good for was the big bonus money for 2011. Now the development of the bonus criteria that resulted in the 90% payout for 2011 was proactive. I wonder how 2012 bonus money will turn out? It has to be toned down for 2012, doesn't it? We'll find out soon.