cohenbarryj

Top 15 Creditors to New Century

Why does an investor want to own a company whose senior leadership "manages by firing." They let loose 15,000 people so 1 or 2 guys can keep their jobs (Chuck Prince for example). Now I don't work for the company nor does any family or friends so this isn't spilled milk. They can't do a deal in the U.S. so they are forced to look at crap like ABN AMRO. The simple fact is they got a $1 bln in operating leverage by firing 15K people so they can buy time for the FED to cut rates so revenue improve. The leadership is inarticulate, inaccurate, a bit decitful, and certainly inaffectual.