Nabors Industries Mind Blowing Corporate Greed: Supervillain Eugene

[independentsrule]

Run time: 10:00 https://www.youtube.com/watch?v=FXWOXobka_8   Posted on YouTube: November 05, 2011 By YouTube Member: StockTradingMaster Views on YouTube: 0   Posted on DU: November 05, 2011 By DU Member: independentsrule Views on DU: 1865

 
Oil drilling company Nabors Industries released a news story after the market close last Friday.

Now before even getting to what the news story was about, why the hell release after market close on a Friday?

Don't you guys know that most of us are eating pizza, going out to eat, drinking beer, or watching movies on Friday's after market close? I mean how dare you encroach on my TGIF lifestyle.

No seriously guys, anytime you see a company release a PR after the market close on a Friday, for one: it's probably a piss release, and they're releasing it into the Twilight Zone hoping most people will never see it.

The Nabors Industries PR was about how its CEO Eugene Isenberg would be stepping down.

This piss part of the release is that he's taking a $100 million "contingent liability" payment.

To put this $100 million into perspective, that's enough money to hire 3,333 new teachers for 1 year. It's enough to pay the health insurance premiums for 9000 American families for 1 year. It's enough to completely pay off over 2,000 peoples student loans.

[ProgressiveProfessor]

1. SEC likes it that way

Allows some time for the news to be digested and not have an immediate market impact on the company stock or the sector.

Federal Government announces contract awards after the the market closes, often on Fridays

[independentsrule]

2. SEC Doesn't Like It That Way For Most PRs

I've been trading for over 20 years. Don't try and tell me that companies don't release on Friday to hide stuff from most investors eyes.

The SEC does NOT prefer it that way.

What you are talking about in regards to news impacting a stock is reserved for only the most extreme news announcements such as a company filing for bankruptcy, not a CEO getting a $100 million parting bonus.

Further, the biggest source of Federal Government contracts comes out of the Depart of Defense.

Go to http://www.defense.gov/contracts/

Clearly, everyone can see that contracts are posted DAILY after 5:00 PM with no prejudice for Friday's.

Nice try at calling yourself a "ProgressiveProfessor" and then turning around and trying to shift the focus off corporate greed and instead on blaming government but you are unsuccessful.

[ProgressiveProfessor]

3. Having been part of the Federal procurement process

While the DoD awards are announced daily, when I was there, we made most of the large announcements on Fridays. You can claim there is no prejudice for Fridays, but I saw and heard it in person for the really big programs. That includes cancellations and other significant Government actions that could have a significant impact on a company or industry. It may have changed since them

Counsel ALWAYS suggests making any significant announcements after the market closes and many times on Friday even in private industry on the grounds that it is the safest course of action. I agree that it may be uncalled for caution, but then again, they are corporate lawyers, many of who are former SEC.

Attacking me for what is effective standard industry practice which is in some ways encouraged by the SEC is churlish at best.

[independentsrule]

4. While I Was There...

Anybody who even has a basic familiarity with Wall Street and investing knows that companies release PRs on Friday's and over the weekend usually when they don't want as many investors seeing it.

The fact you don't even have a basic understanding of this speaks to your ignorance of what you're talking about.

Attacking you? You're the one who came into the post I made and started attacking it.

Next, trying to nit-pick my video and take one joke I made about interrupting my TGIF Fridays and then trying to make that the focus and justify Wall Street with when government posts contracts while ignoring the huge issue of corporate greed means you shouldn't be on this website. Why don't you go post on your republican message forum or something?

Then I destroyed your attempt at undermining my video by claiming the Federal Government posts contracts on Friday's so it justifies Wall Street doing the same. I showed you that the biggest contractor, the DOD, doesn't just post on Friday's as you stated, but every day of the week like most government contracts.

Then, your only retort is to claim some inside information that can't be seen on the website URL I gave because, you were a worker at the DOD. If you think anybody is going to believe you were a worker at the DOD, I have an original picture of Jesus Christ's poop I'd like to sell your stupid arse for $100 million. Hiding behind an alias you can claim to be anything you want you dork.

Finally, the comparison of trying to justify Wall Street for releasing PRs after market close on Friday's that they don't want as many people to see, with the government posting job contracts is stupid. There is no comparison. It's comparing apples and oranges. It is a stupid use of a non-sequitur/straw man comparing two very unlike things.

But after your I worked for the DOD BS, I've come to the realization that you're not even mature enough to waste my time debating.

Get lost and go troll someone elses video.

[ProgressiveProfessor]

5. Your churlishness continues

Indeed bad news is regularly published after hours by just about everybody. In fact most significant news is now published that way. When questioned companies all point to advice of counsel. If you have half the experience you claimed, you would know this. The ignorance and lack of practical experience here is all yours.

Shareholder suits and SEC actions have over time made the after hours/Friday approach more and more common. If you were really as knowledgeable as you claim, you would know that. Your position may be somewhat correct for the penny stocks, but not for the big boys. DoD does what it does for similar reasons. And yes, the SEC staff likes it that way.

They only thing you destroyed is your nascent reputation. And with all your seniority and gravitas, you are calling someone a troll? When are you going to start pushing your newsletter?

[independentsrule]

6. Thanks guys...

Thanks man for showing me the ignore feature.

That's awesome how the message board software can totally remove you from seeing any of a trolls posts as if they don't exist.

:yourock: