And we didn't even mention ENB's crushing debtload.
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Oh now I understand what you were saying. We're both making different points.
At acquisition spectra was 26b and enb was 50b, after acquisition the market cap of enb did show 76b. Today it is 54b, so yes we lost 20b, share dilution or not
When you add 1 billion shares to the float, they are all worth less individually, but the market cap is up since the Spectra acquisition.
Look at the # of shares out and the market cap pre and post acquisition.
Market cap is outstanding shares (how many shares that the company has issued) multiplied by the share price. The market cap is down but i dont know by how much but the culprit is certainly the stock valuation....which is down for a combination of reasons, that most employees are already well aware of.
Spectra acquistion + Thousands in Layoffs + Selling Off Green Energy Assets + Simplifying Structure + Yet More Layoffs = ENB Share Price in the Toilet
It's pretty clear at this point that whatever was done by the head honcho has not worked.
So educate me please. If a company has 100 shares at 10 each. The market cap is 1000. If they issue 100 more shares and dilute the price to let's say in a perfect world $5, shouldn't the market cap still be 1000 based on 200 x 5? Never thought issuing shares reduces your market cap by that much. Please educate.
Whoever said something about ENB losing $20B in market cap is wrong. The market cap (valuation) of the company went up after the Spectra acquisition. However, ENB diluted the company by adding about 1 billion shares, which dropped the share price.
I am sorry about the layoffs today. I am on sick leave, can you tell me areas layoffs ocurred? Never trust HR under any circumstances as they only do what they are told and have no control whatsoever. Its shameful HR has not leaked to media, the crimes Enbridge committing, instead continuing to sympathize with employees but do nothing to help them. I guess they are in too deep. Please let me know where layoffs happened and for those of you affected, seek an EMPLOYMENT LAWYER before agreeing to anything. Best of luck to all.
Whoever said that Al was given a “disloyal and undermining workforce” does not understand what’s been going on here at all.
Al inherited an outstanding workforce when he was appointed CEO some five years ago, along with an excellent corporate culture. Employees were willing and able to do whatever it took to make this company successful. But over those five years, Al shredded the fabric that made Enbridge so successful by forsaking the people who made it so.
Trust is all but gone, and that is what makes all the difference.
If you consider losing $20 billion + in market cap since spectra acquisition a miracle then yes you are right. Takes a whole new level of stupid to lose that much in 2 years.
Our CEO's salary is guaranteed and make no mistake about it. He'll do whatever he can to keep his entitlements and those of his EVPs. To not protect the executive suite would be a core failing on his part. I wish the board would wise up and show him the door. It will save a lot of heartache later on.