Thread regarding Weatherford International Ltd. layoffs

Be prepared for the big write off of debt and missing assets.

Where did I ship those tools?

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a bit naive if you think that's all it takes !!!!

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I use the set of stamps in my desk drawer.

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No sh*t Sherlock. How did you work that one out?

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All that is needed is for the equipment numbers to match the test certificate. There are many numbers on all the tools so as long as the numbers match you are good to go.

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Nothing like a bit of phantom inventory to take care of business.

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In some areas they just send the so called useless equipment with no test certs to the local junk yard. Competitors buy up the so called useless stuff and the big W rents it from them, really easy way to get yourself in a hole is to pay for new stock, lose the certification, sell it as junk then rent it back from the companies who bought it from the junkyard !!!!!

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Recurring activity every year. It is amazing how poorly inventory is kept, that and that they continue to hold obsolete and phantom inventory in some groups. They do need to write it off for a couple of reasons; first, to clear it from the books so they don't pay tax on the valuation. Second, they need to get the business units cleaned so they can divest them and better to get it now than when the sale comes along and you look stupid

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Did we account for the Jag ?

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It hurts when you are right

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It doesn't matter those tools didn't work anyway just like WFT management and sales !!!

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