Enron employees put their life savings into company stock. Right before it cratered employees were restricted from selling. Senior management -- Ken Lay, Skilling, Fastow -- sold their shares before news came out about the company's insolvency and the stock plummeted. Why should we buy shares in WFT when the company is laying people off and some say we might not survive? How much has management bought?
http://www.newyorkshockexchange.com/content/view/1009/37/
I would not even put stolen money towards that stock.
Weatherford is insolvent. She's a sinking ship no one wants to save. In fairness, many, many other oil field companies are not in good shape right now. Unless there is some sort of miracle or a 'savior buyer', Weatherford's days are numbered.
The article says Weatherford is insolvent. Do any of the other employees feel that way? I know a lot of us been laid off but I didn't think the company was going under.
Well I'll be &^%$$#. Looks like someone on this board actually knew what she was talking about.