Yes, smart business ! I am sure there was overlap/dead weight after TWTC buy. You get rid of some folks and then just lay the whip on the remaining ones who now feel motivated to protect their own jobs after a layoff.
You pay off the severance of the canned employees, carry them on COBRA for 18 months and your labor costs go way down . I have seen this technique employed MANY times !
Well ron , creating fantasies seems to be your stock in trade. There is NO LOGIC in your pro-rata bankruptcy scenario.( Which, by the way, I fully understood when Eisenhower was President) Perhaps you need to check the def. of the word "ploy"----I'll save you the trouble
PLOY: " An action intended to outwit someone"
The cleverness attribute is not towards a someone, but the MARKET !
So yes, the bonds got hit, and WOW are they on sale cheap !! Debt load--GOING DOWN !! The millstone becomes lighter !
Will oil be $45 forever?? I bet NO !!
We are selling the Saudis $60B worth of arms !!! Let them get distracted from their attempt to keep oil prices down by getting in a BIGGER bit of a shooting war with say Yemen or Iran. I'd say this is a "clever ploy" by the USA.
There is more to the world besides opinions on a message board.
You know, now I'm thinking that this whole situation was a clever ploy to allow LINE/LNCO to buy back their debt REAL CHEAP ? Suspend the div., destroy the stock price, scare the bond mkt--- BUY BACK as much debt as possible. Keep pumping OIL as the price recovers, and become leaner & meaner. Works for me !