Spending $30 million on Fourchon upgrades. Idiotic move in a 20 rig shrinking market. Every day drillers are scrapping offshore rigs and leave it to Newpark to spend $30m in what is basically a dead market. And then Dumb and Dumber try to present it to the scripted brokers that it is a good move. I say DUMB move in a DEAD market. And to top that off, NP could really use that money to pay down current debt that is presently due. Another totally stupid decision by the highly overpaid illiterates. More stupid decisions tomorrow, same time and same channel.
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Mate --If you call losing money in seven of the last eight quarters (Would have been 8 for 8 if not for Mats) Maximizing shareholder value then NO wonder you are a member of the LOSING team. You can now return to your hole.
The purpose is to maximize shareholder value, mate. Most notably something NP have done quite well this year I might add.
Stock price/gains doesn't mean sh-- as to how a company is doing. The oil services segment is a favorable segment for Wall Street right now. Many of these stocks are virtually worthless, one only needs to look at Basic Energy Services to confirm this. Chapter 11, losing money, poorly run company BUT their stock is up - so they must be doing well. How about Enron before they crashed? How about any shale driller? Virtually the same story. Market can be and is manipulated daily.
This foolish rhetoric wastes time. All one need do is review NP stock price gains this year.
not seeing a #5 yet. Can he go 5 for 5 for the week? or just settle for 4 for 4