GREY:LSTMF - Post by User
Comment by
bushhog1on Sep 20, 2015 4:29pm
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Post# 24120230
RE:fyi..over 100 oil co. down 90%+..they cant all be mgmt
RE:fyi..over 100 oil co. down 90%+..they cant all be mgmtWright is doing everything right. No one was complaining when he was paying $0.96 dividend annually. Now oil has fallen and he is being blamed. But we have to realize that the LTS has been doing all that is possible. 1) Strengthen the Balance Sheet - cut out all intangibles, valued Assets downwards etc 2)Cut out the Dividend. 3) Cut Capital spending and other costs like 37% of staff 4) Renegotiate their Debts and was able to save $125M in reduction LTS will surely survive this downturn.