Re: They’re Willing to “Fight it out.” - VG
"I don't disagree with the tender...as it is likely to lower current payments and extend some of the near-term debt...but I think Johnson's growth strategy and capex plan is a steaming pile of crap."
VG - agree with you on the tender. Execution and results will determine whether the growth strategy and capex plans are steaming or not.
No matter, Mr. Storey does deserve credit for the big government contract wins AND for the successful sale of Lumen business units at strong multiples.
Mr. Storey was handsomely paid for his accomplishments.
Mr. Storey was fired for failing to drive shareholder value. Despite spending billions on cap ex and despite big government contracts, Lumen is not positioned for the 2027 wall of debt... without an uptick in revenue growth.
Ms. Johnson and Mr. Stansbury have bluntly tagged Mr. Storey for Lumen's current challenges. They are signalling to investors, vendors, customers,and employees that they are going to change Lumen's approach.
Dumb dumb dumb or not, Lumen's future prospects depend on the change.