Long time shareholder and occasional lurker. Last CC, Paul talked about NP making tough decisions. After seeing what has transpired in the past 2 years, I see a lot of STUPID DECISIONS and the quarterly results continue confirming my opinion. More tomorrow
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It is really simple. "Master of the Obvious" type reasoning. Pv knew almost nothing about drilling fluids when he came to np. He was essentially a failure at Weatherford, before. np drilling fluids domestically, which he has been over, has lost money for the last EIGHT straight quarters (ending 6-2017). End of story. BUT , let's not forget ONE thing. ph got a Bonus payment for both 2015 and 2016 performance ( real little p here). Not to mention the Restricted Stock awards. You talk about SETTING the performance BAR LOW. That is ALL on the BOD -- 100%
Stupid decision #2: BRAZIL. Squarely on dumb and dumber shoulders. Haven't turned a profit since opening almost 10 years ago. Will never turn a profit working for Petrobras. Numerous Mgmt changes-same results. Only good thing is a nice vacation spot for NP mgmt on supposed business trips. Nightlife is good according to dumb and dumber
Rubbish? Ha! Succeed? Brilliant strategy? Maybe you Oxford blokes look at financials differently than we do. Sorry, the facts (and numbers) speak for themselves. You would have a hard time saying 60% margins much less achieving them. Do yourself a favor and start making a profit for the shareholders. After all, you have a big note due.....Older and wiser
Rubbish! This from a knackered old man who knows nothing of world markets. The strategy has been pure dead brilliant and NP will succeed.
There's a lot of stupid decisions to decide which is the worst one so here we go:
Stupid decision #1: This one is squarely on PH and BS shoulders- hiring PV. A totally unqualified, incompetent individual with no drilling fluids experience whatsoever. PV doesn't know the difference between a bulk tank and a bulk trailer. He has completely and totally decimated the culture and leadership of a formerly great fluids company. Then as if it wasn't bad enough-you promote him as the sole leader in fluids. Talking about the blind leading the blind, PH has shown complete disregard, lack of loyalty and total stupidity with his decision making. You don't believe me - look at the financials and pathetic decision making exhibited thus far by PV. More stupid decisions tomorrow folks!