Now that Stankey is taking over as our CEO are you optimistic or pessimistic about AT&T's future?
I'm on the "absolutely nothing will change" train myself.
14 replies (most recent on top)
Don't expect to see any vast changes. Stepehenson is still in charge until next January. Workforce 2020 plan will continue and be completed. squeezing every dollar will continue, and the execute,execute,execute mindset will continue, it's the AT&T way of life as has been for the last 100 years.
Stanks 2021 goal will be to sell off the copper plant for sc-ap value. Randy did not want to layoff his brother who got him his job in the phone company.
Big Stink won't be around long. But in the time that he is here, he will take a wrecking ball to what is left of this company. Look for massive layoffs over the next several years, followed by much worse worker morale and a growing exodus of customers. As revenue dries up, T will have to cut its dividend to pay its enormous debt load. Eventually, they won't even be able to do that.
There won't be any thing left of this company when The Stank is done. Maybe that's how Elliot wants it, then they can split up and sell what's left of this company's carcass.
Note that Stank is not Elliott's first choice for Randall's replacement. One story from Sep 2019 where the takeaway is he is not their guy.
https://www.cnbc.com/2019/09/17/elliott-doesnt-trust-john-stankey-at-att-but-they-may-need-him.html
An article after the announcement where the takeaway is Stank got the job as a last choice because they could not find anyone else they were comfortable with and did not want to stir things up on the middle of the pansemicy. Note the comment about them being comfortable because he was not going to be purchasing any companies.
https://www.cnbc.com/2020/04/24/elliott-management-softened-stance-on-john-stankey-as-att-ceo.html
All the commentary has the same theme that has been posted on this site for months.
The article below is worth a view just for the reader comments and the big pic of horse face in the comments. I think the same folks posting on this site posted the reader comments.
https://arstechnica.com/information-technology/2020/04/att-ceo-retiring-as-telco-plans-for-three-years-of-cost-cuts-and-layoffs/?comments=1
Things will improve. I am looking forward to the change because it's going to be great.
Stank is there for one reason. For T to keep paying the dividend to keep the stock afloat until he and the investors can cash out. He will do it by selling off what he can, even if pennies on the dollar, and by slashing jobs. He wIll bleed AT&T dry. In three years the employee headcount will be reduced by 50%, or more.
There are both destructive forces & creative forces in nature. Destructive forces are like compost breaking down to provide nutrients for the seed to grow & bloom. Stankey is a destructive force: he will accelerate the rotting of the compost that is at&t. Once the destruction is complete & creative forces are needed so that the company can grow into a beautiful flower, his work will be done & he will move on.
It's going to be great. Executives take care of workers and investors. It's what they do. Us simpletons have no idea so we complain. It's what we do.
This can't be a serious question. Anyone who spent even a second in Stink's presence realizes this is going to be horrible for the company and for everyone in it. The stock will tank, there will be massive layoffs, and talent from all parts of the company will flee.
But that smug jackhole will still think he's doing a good job. Stink has a lot in common with Dump - both are blind to their own incompetence and revolting personalities.
I think he’s filler like some Football coaches. He will do what Elliott tells him and will be out in three years.
ATT Execs are all cut from same cloth.
#1 S— Ups
#2 Zero Accountability
#3 Cannot Compete
#4 Zero Vision
#5 Late and Overpay for anything
Pfefler had a vision, executed, and built a World Class Brand and Service. Stankey taking a wrecking ball to it right out of the gate. Be like Netflix..... Well Netflix is becoming more like Pfeflers HBO.
EVERYTHING will get worse with Stinky!
It will get worse.
I think it will get worse. Stanley’s ego is so big he thinks he’s right about everything, even when he is not. . Plus I think he is all in on cutting labor expenses. Add that most employees I know have zero moral and the only motivator seems to be fighting to keep your job. Not sure that makes a company successful.