what a huge squandering of assets at such high buyback levels. woman gets an F grade for buybacks. She will walk away flilthy rich while shareholders ONCE again bagholders.
it all comes down to dayrates. So what replacement costs if dayrates are low due to glut of vessels? these idiots built like maniacs. what if oil bounces and stays in 50-60 range for a while? this company will be sucking wind with high cost offshore development slowdown
many public cos have crony board members loading their own pockets and their buddies. It is outrageous what goes on in corp america.
at nearly $6 a share? probably traders that bought weeks ago are dumping now.
Not one insider from mgt bought yet but the presentation makes it sound that mgt has done well? They timed the new build well? sure they did. These guys spent way way way to much on building new. 1.5 billion in debt leftover to deal with and a market cap of like 250 mil now. firings across the board.
not a single one of them should be fired. They built recklessly with shareholder money. Like a bunch of lemmings follow each other over the cliff.
They took and took and spent and spent BUT shareholders who OWN the company hold the bag. Something very wrong here when the owners take all the pain and those making the mistakes are rewarded with bonuses and stock options. How dare they benefit at all from their reckless new building. What a disaster 5.5 billion in new builds PLUS salaries and stock options for years. Nothing to show for it!
and spent all the money doing it. yes it is their fault. why did they spend and build so much? there are way more ships to rigs now since 2008. Firings across the board at the top for such poor decision making and lack of discipline
your investment has gone up in smoke so far. losing close to 50%+ on purchases. Very neg? Your are either clueless or a mgt stooge. which one is it? The stock is down to 1988 prices and 5.5 billion in cap ex was spent over 16 years and probably close to a billion in sg&a.
The shareholders have been obliterated Just the Facts!
it's funny in the presentation mgt calls stock buyback opportunistic? How many shares have they bought for themselves or for the company buyback at under $15 a share? I believe NONE so far!
last 16 years. This does not include the extravagant executive pay either. However the great ones did cut head count by 1200. Maybe the headcount at the top should be reduced and pay should be cut too?
what do shareholders have for such massive spend? the market cap is 350 mil and are stuck with about 1.5 bil in debts. Horrendous performance for shareholders.
has this mgt taken a paycut yet? are they still receiving options and bonuses? If so why? Shareholders have been obliterated and other employees laid off. They are responsible for alot of this mess by putting the company in such a leveraged position.
How about sending Evans to the unemployment line? Seems pretty reasonable for a guy that leveraged up this company to the gills and now has to sell assets at fire sale prices.
they probably will brag how they sold NON-core assets at fire sale prices to reduce some debt.
they levered this cyclical company to the gills and continue to pay a stupid dividend while shareholders go bust and they continue to colect BIG paychecks? How the F is that fair? 50% paycut or leave.
they are not destroying anything idiot. The cos executives destroyed these cos with their idiotic balance sheet mgt and leverage. what will change? shareholders go bust go to $0, executives still get paid big and debt holders take over company and convert to equity. No or little debt left and assets still in ground, BUT mgt probably still employed with a job. just pathetic and especially the mgt here