So even Moody's is worried about AT&Ts debt outlook. Stephenson's response is to get debt back to more comfortable levels. Sounds like more doublespeak for more layoffs and outsourcing.
http://seekingalpha.com/news/3067436-t-nears-52-week-high-moodys-frets-debt-outlook
Could we keep the political talk and references out of this? We'd be in the same situation no matter what the country's debt is.
Don't forget about the C suite's MAJOR failure....
The failed Acq of T-Mob 2-3 years back! All said and done...$8 billion!
Spectrum, equipment, costs, penalty for not closing the deal!
Same idiots still in charge pretending to be some major Tech Player!!!
Yes....debt is teetering just like the country.
Perfectly stated. C-Level guys will receive a parachute while the company and their hard working employees get screwed. The way the system works and that is the problem with business, the so called leaders do not take responsibility until they are forced to by shareholders.
You are correct. It is doublespeak. Stephenson took out a lot of debt to buy more companies and was trying to hide the debt on the balance sheets of the new acquisitions. That only works so long, though, and Direct TV was their last shot at that. So, now they need to greatly reduce their workforce to keep the balance sheets looking respectable. GE did the same thing a long time ago and GM tried to do the same as well. It ended up catching up with both. Stephenson will leave right before it collapses and pin the blame on the next guy. AT&T will survive, but the stock will get killed.