104% Chinese tariffs start at midnight. XRX is merging with the print division of the CCP. All XRX domestic mfg is gone. We will be under $3 some time this week.
10 replies (most recent on top)
Today is wayyy better… WE’RE SO BACK!
I think they knew a few weeks after Ichan took control. Once they discovered their error (I.e. nothing interesting going on at PARC) they started looting the place. SB’s compensation is outrageous for his performance.
You betcha
"The reinvention program is basically a chapter 11, without it technically being so. Which leads to the question. If forced, would an actual Chapter 11 be a thing, or would they go directly to Chapter 7? "
It might be both! When a person files Chapter 11, it is because they proved to the court they could come up with a payment program and pay back creditors. Things can go sideways, and CH 11 filers can amend and go CH 7 (liquidation) if the numbers no longer work for a court supervised plan.
Unlike a private person, Xerox has 1,000's of paying clients. May of them will run like he-l once a BK is filed. XRX could try reorganization, but if receivables fall off a cliff, it would go to liquidation.
Also, there is no 'good' bankruptcy for shareholders. IT either goes to penny per share for CH 11, or delisted at $0 for CH 7.
The reinvention program is basically a chapter 11, without it technically being so. Which leads to the question. If forced, would an actual Chapter 11 be a thing, or would they go directly to Chapter 7?
"i am curious if xerox leadership still thinks they are on the right track or if they finally realized they have completely failed and the reinvention con is over "
They know, hand have known the whole time. If they didn't they would have dug in and had tough talks with people and implemented more drastic, aggressive measures to save the company.
They didn't do that. They talked about reinvention and fired people to goose the ledger in the short term, not to save the company. They either are complete frauds, with no real ideas, or they didn't have the ba--s to take decisive action.
Look at ITsavvy. They could have gone out and bought a services shop with a Salesforce or ServiceNow practice, but they bought a VAR. They 'reinvented' themselves into a RarioShack.
The fall was inevitable, trump is accelerating it.
It is now worth less that the debt they leveraged to paid off to uncle Carl....less than a year ago🙄
i am curious if xerox leadership still thinks they are on the right track or if they finally realized they have completely failed and the reinvention con is over
When will tomorrow ever be better?