Eventually T will run out of employees to surplus and property to sell to make the numbers appear good for the stockholders. Sadly, that day is not too far in the future.
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"Enron was cooking the books. Their downfall was criminal activity in a nutshell. AT&T as far as we know has not engaged in criminal activity ....."
And you honestly think "T" is not cooking them ? Wait a bit longer, judgement day is close, when all the rats will jump this ship. You have no idea what's coming.
Enron and Worldcom were two peas in a pod. Not T. The stock went from $42 to $28 because the numbers were clear. It is rebounding now because the Fed's halt in interest rate hikes is good for dividend paying stocks, and good for companies holding a lot of debt, both of which describes AT&T.
And it is a purveyor of 5G technology. Now this 5G noise might be hype. I thought this "cloud" stuff might be hype, but the cloud seems to be for real, and 5G could very well be for real, with a real payoff for AT&T shareholders.
AT&T and Enron have nothing in common, try harder.
"We can’t blame AT&T for landlines becoming a dying technology nor should we compare the company to Enron."
The problems that AT&T has go far beyond land line decline. Costly acquisitions and poor leadership have aggravated the money problems in a way that may not be recoverable. Our leadership diminishes everything it touches. RS is the king midas of sh--. Everything he touches gets worse.
@-msu, it's called "life."
You get married, you buy a big house, you fill it with kids, they grow up, they leave, you downsize your living space and sell because yo don't need it anymore...
So a business gets built. Operates for a set amount of time... and then something changes. Technology, taxes, law, maybe people don't like your product anymore. It could be a host of things.
Adapt or die.
I recall telling my distinguished CWA leaders at the last bargaining to forgo pay increase in lieu of receiving stock as compensation. That way at least we had some skin in the game. They looked at me like I was crazy.
The fact that they layoffs are happening is a fact of life and economics and technology. Not a scheme to hurt the little guy --- just because it came out there rear end to do so.
At least with stock received over the years as compensation, you'd have something to sell when you got surplussed. Or something to keep --- for the income/dividend. Better than nothing.
But that's the primary problem with unions. Their socialist mindset won't let them see the best path in a bad situation. Sticking to their guns --- and sinking with the ship.
Can you imagine how much power the CWA would've had if they bargained for stock over the decades as part of compensation??
Can you imagine if the CWA instead of raising money from the techs to give to leftist politicians at election time, would've collected money from techs quarterly, bi-annually, or annually for a CWA stock fund??
Then maybe we would've had a REAL SEAT at the table.
Instead you're all here crying, moaning, and blaming the evil Wall Street guys. Blame yourselves. But if you can't bring yourselves to do that... blame the engineers. It's their fault we got steaming, 5G, 4G, VDSL, DSL, TCP/IP.... etc.
Cut it out y'all. Be men and accept responsibility for your own actions --- or inaction.
"Enron committed fraud. What does laying off employees have to do with financial fraud? It's a crime to sell property now?"
I think you missed the point. The Enron thing is a red herring. The point is that when all the cost cutting is done how much of the 180B will remain? AT&T is very burdened by debt and its revenue sources are shrinking. And don't think that executive pay doesn't matter. It is a corrosive statement about how those who are wrecking the company don't value those who are doing the daily work of sustaining it. Now there are a lot of young office workers who can't see the reaper yet and as a result they have no compassion or understanding. Their time will come.
Not sure if you understand the Enron story. Enron was cooking the books. Their downfall was criminal activity in a nutshell. AT&T as far as we know has not engaged in criminal activity and still employs thousands of hard working honest Americans. We can’t blame AT&T for landlines becoming a dying technology nor should we compare the company to Enron.
Enron committed fraud. What does laying off employees have to do with financial fraud? It's a crime to sell property now?
Enron? Seriously? Dude stop posting the BS
Be really careful here, if you attempt to point out the truth about most unions you'll be a really, really bad, bad person. Then you will here how the union is helping us, really? Ask the folks that have not had a contract in a year, oh yeah, the union is "working" on it.
Don't see the connection...
If the tools/tech don't require as many hands to produce a product, you use less labor. That's it.
The Union's in this country have done a lot of damage to our citizens. Their theories and ideas have ZERO roots in economic reality. Sad😞