Based on latest financial disclosure Weatherford International Ltd has Probability Of Bankruptcy of 49.39% in the next 2 years. This is 5.44% higher than that of the Basic Materials sector, and 18.9% higher than that of Oil and Gas Equipment and Services industry, The Probability Of Bankruptcy for all stocks is 25.13% lower than the firm.
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Bankruptcy is inevitable for this co. Management has overstated assets. Management has been granted large amount of options. They are selling these even at low prices as soon as they mature. They see this coming yet say otherwise. I have followed but do not own shares. Would avoid this one!
Based on latest financial disclosure Weatherford International Ltd has Probability Of Bankruptcy of 52%. This is 11.34% higher than that of the Basic Materials sector, and 26.85% higher than that of Oil and Gas Equipment and Services industry
Bankruptcy protection is pretty much assured as the path we are on. Access to loans is costing the company too much, suppliers are demanding cash in advance and the company is finding it hard to roll loans over into new facilities without having far more punitive rates of interest imposed than the previous facility ie: the cash situation just gets worse & worse. Management don't have the ability to manage their way our of this situation (most of them got us here in the 1st place). I feel the actions of senior managers persuading people to tell suppliers to send goods (which they may never be paid for) are morally bankrupt. Screwing over our supply chain will come back to bite us in the end.
I fear I will turn up for work soon and the lights will, quite literally, be out.
If all of this is true, then this s why the executive level should do an "uncover Boss" episode whether the TV show or not. This way they can get a sense of working conditis, comradery, and figure out with a little common sense how to make their operations run run better without running off people, and to avoid possible bankruptcy.
Unfortunately the s typical of huge corporations whose leadership which spends more time in their ivory towers than going down the ranks blew to see how things are going while being open minded, non- condemning , and figure out how to fix things. When 'they' do this , 'they' should see if the operator/staff/employee can be fixed but not too hastily to fire someone, unless that person is an arrogant control freak without a heart , and don't want to change then terminate thy one's status or demote .
I came to this sight as a prerequisite in my job seeking searches.
Wow !!!!
I know that my boss stated that Weatherford was closing up to 50 sites that have nothing to do with the divestiture. We thought that Completions were safe....but not anymore. One Director (that many GMs have stated that they don't trust...hint from Halliburton)has been making a lot of GMs uncomfortable. He has openly supported LYING to suppliers to keep material coming from them to operate. I know my boss feels very uncomfortable with him and feels that we may be headed for bankruptcy protection from creditors soon as more suppliers are becoming aggressive in their collection attempts by taking legal actions.