For some reason, I feel like we are in calm before the storm phase. I hope I am wrong. If anybody has any info on CGG's plans, please post here.
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I think the Wavefield acquisition was the real f&^k up. It cost CGG a fortune upgrading the vessels so that they were fit for purpose. The irony is that Malcor was obsessed with buying up the competition, yet they could never have survived the costs involved in upgrading their vessels themselves.
You don't have to blame Malcor. He is CEO, he is completely responsible for the current situation purely by virtue of his title. This did not happen overnight, it is not just the market, it is the culmination of his actions to try and reflect glory onto his ego. CGG are where they because of the Fugro acquisition debacle, and much much more besides. If you cannot run a business then don't buy up businesses.
I blame Malcor.
CGG is ultimately **. There has been no change in management or company culture. The writing is on the wall.
Yeah, I think you might be right. Let's face it..... with the current management in place we are pretty much doomed. There is absolutely nothing to be optimistic about.