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BRS stock crashing

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BRS stock crashing

Old 9th May 2019, 17:23
  #241 (permalink)  
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This is really outrageous. CEO is on a massive cash retainer paid quarterly, and will receive a bonus for successfully ‘ exploring suitable strategic and financial alternatives’ ie. Ch 11 or Bankruptcy... they are literally robbing the last few dollars BRS has.
Workforce must feel really valued.
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Old 9th May 2019, 21:01
  #242 (permalink)  
 
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Senior management will keep milking the cash cow as hard as they can for as long as they can then, when it all goes belly-up they'll wander off saying it wasn't their fault and be offered another seat on the management merry-go-round by one of their buddies...

They are almost all, to a man, completely morally bankrupt.

As long as you view them like that from the outset you won't be disappointed sadly.
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Old 10th May 2019, 05:13
  #243 (permalink)  
 
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Imagine what the Oil Company’s must think. What chance of scoring good work when they can see where the money is misappropriated. Ok they maybe should get a good salary and a sensible bonus based on real achievement. But to self award such outrageous sums as the Company circles the drain is an insult to the hard working men and women in Bristows
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Old 10th May 2019, 07:18
  #244 (permalink)  
 
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Imagine what the Oil Company’s must think.
Indeed, I was with 3 oil companies yesterday, all less than impressed, none wants to deal with Bristow as with its financial situation, things don't appear to be managed properly. Bonuses are for achievement, not for running the company into the ground.
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Old 10th May 2019, 08:25
  #245 (permalink)  
 
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But yet they insist all employees complete Code of Business Integrity and Anti Corruption training. Oh the hypocrisy....

LZ
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Old 10th May 2019, 08:52
  #246 (permalink)  
 
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Yet BP see fit to give them all their U.K. operations, and others trust CHC previously Ch11 and now with striking staff. You have to love it.
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Old 10th May 2019, 09:35
  #247 (permalink)  
 
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Originally Posted by Hedski View Post
Yet BP see fit to give them all their U.K. operations, and others trust CHC previously Ch11 and now with striking staff. You have to love it.
I think the oil companies will be happy to use Bristow as they can get contracts at a rock bottom price in the short term at least. Bristow needs cash flow in any way possible at the moment and operating at a loss is better than not operating at all. Just my opinion.
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Old 10th May 2019, 09:55
  #248 (permalink)  
 
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Originally Posted by tonkaplonka View Post

operating at a loss is better than not operating at all. Just my opinion.
Management Material !!
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Old 10th May 2019, 10:28
  #249 (permalink)  
 
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Tonka Plonka wrote:

I think the oil companies will be happy to use Bristow as they can get contracts at a rock bottom price in the short term at least. Bristow needs cash flow in any way possible at the moment and operating at a loss is better than not operating at all. Just my opinion.
Well its wrong. BRS has been selling aircraft assets to raise cash which it has then spent on financing loss making operations and to a lesser extent, management bonuses and payouts. That is exactly why BRS is in the position it is in today. If you don't make an operating profit as a supplier of aviation services, you are on the short path to real bankruptcy, not just bankruptcy protection.
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Old 10th May 2019, 11:10
  #250 (permalink)  
 
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Originally Posted by Hedski View Post
Yet BP see fit to give them all their U.K. operations, and others trust CHC previously Ch11 and now with striking staff. You have to love it.
I hear strike is now off and rumor is that CC chair has also resigned from council.
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Old 10th May 2019, 21:35
  #251 (permalink)  
 
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Surely if/when this goes completely tits up the receivers will be carrying out detailed audits of these type of payments, along with financial forensic experts with a view to possible criminal prosecutions.

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Old 10th May 2019, 23:13
  #252 (permalink)  
 
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I think some need to understand the difference between cashflow and profit/ loss. It certainly wouldnt be unusual to continue to trade in a loss making position if one believes it is a short term position. What is perhaps more unusual is how by mid 2019 we continue to pick over the bones of BRS when it was fairly obviously fukked a long time ago.
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Old 10th May 2019, 23:18
  #253 (permalink)  
 
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Originally Posted by nomorehelosforme View Post
Surely if/when this goes completely tits up the receivers will be carrying out detailed audits of these type of payments, along with financial forensic experts with a view to possible criminal prosecutions.

No the receiver will just ensure his fee will get paid there will be no forensic anything and actually as much as many love to believe they could have, should have, would have..... where are they? Where are all these genius executives that want to run the obviously viable business???
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Old 11th May 2019, 01:53
  #254 (permalink)  
 
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If you are serious about saving a company....you have to cut your losses...sell off what you can....trim every....every....every....every expense (that includes executive bonuses, salaries, and perks, and forget about what used to be).....and deal with what you have left that turns a profit.

That ain't gonna happen with the current management anymore than it did with the previous sets of management.
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Old 11th May 2019, 09:30
  #255 (permalink)  
 
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That include the $2m apparently paid to the initial UKSAR BUL (read minister for photo opportunities but clueless about SAR) who once the cost cutting was initially achieved bailed with that bonus back to the America’s side of the business?
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Old 11th May 2019, 14:32
  #256 (permalink)  
 
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Old 11th May 2019, 15:24
  #257 (permalink)  
 
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Bardados, briljant as usual!!!
The message from Don as just posted by Lespretend contains a wide content between the lines.
I trust you will bring forward that message in due time.
For all Bristow personell I truly wist you strength in the coming times.

SLB
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