If you hold any Oxy stock, no matter how minimal your holding, you need to be sure to vote. First, be sure to vote OUT any remaining of the APC acquisition board members, there are 2 plus VH. There are other items on the ballot that probably need to... — read more
"Synergies"
Hey EC and Board, see how great the merger is!? Isn't this a wonderful thing!? LOXY and LAPC dislike each other a ton, but we all really dislike you more as we've all been screwed over. Sure, no one saw a pandemic disease shutting down the world. No... — read more
Does OXY COC Apply to Layoffs or Just Acquisition of the Company?
What would a legacy OXY employee be entitled to if laid off before the company was acquired (assuming no bankrupcy)
COC is two years of pay for job grade 26?
Could mean a 20 month pay difference. Anyone know who or what roles are job grade 26?
Oxy Change of Control Severance Plan
Check out the Oxy COC that HR just sent out via the Q&A document. Effective February 2020. They basically cut and pasted most of the sentences from the APC COC. Looks to be not too shabby. Too bad it probably won't matter. Oxy Grade 26 > gets 24... — read more
Executive Severance Changes
Severance packages implemented for executives today. “(1) Cash Severance. The executive would receive a cash severance amount equal to 1.5 times (or, in the case of the Company’s chief executive officer, two times) the sum of (A) the executive’s... — read more
Ousted Oxy SVP Oscar Brown received $1.2 mil cash for "unlocking" value from APC transaction
Oxy just posted their proxy to the SEC website. https://www.sec.gov/Archives/edgar/data/797468/000120677420001012/oxy3677661-pre14a.htm#p50 Page 44 - Recently Brown got $1.2 million for last year's "performance". Today he got fired. Quote... — read more
Job prospects
To the VSPers, what are the job prospects like for those of us leaving Oxy soon? I know its tougher since the virus and all, but I need a realistic picture of what to expect. I’m not an oil and gas specific employee, so I can work outside this... — read more
Oil CEO’s to meet with Trump on Friday
Woods of XOM, Wirth of CVX, Hamm of CLR and Hollub of OXY to meet with Trump on Friday. Which one of those 4 CEO’s should be ashamed? VH, no self-awareness, no guilt, just a combination of ignorance and greed! Still hanging on to her own bit of... — read more
Accountability
Oscar is out!
Confirm the formula APC VSP leaving 2020
Can someone confirm the VSP formula for me please if you are LAPC but leaving in 2020 after the bonus was paid? What salary (plus bonus?) do you add together to get total base pay? God bless you. I cannot figure this out and I’m so stressed... — read more
Would love for Vicki to eat crow once
Does anyone remember the annual meeting last year where Vicki called out financial pundits who were so critical about the APC purchase, namely Jim Cramer from CNBC? I wonder if she'd have half the decency to eat crow and admit to his face that he was... — read more
Wait, we are not actually bankrupt yet.
I know these uncertain times, consisting of Covid, the oil crash and this clusterf–k of an acquisition, is causing a lot of FUD. With that said, does Occidental really lack the free cash on hand for the short term (6-12 months)? Maybe i’m confused... — read more
LAPC need a volunteer
LAPC: Would anyone be willing to submit this and report back on your result? Goal being for the 4.9% deduct to be rescinded. Good Reason: A material reduction in your Base Salary as compared to your Base Salary immediately prior to the Change of... — read more
Question for LAPC
I’m curious. I read these boards to try and understand the history of Oxy and APC. I actually was just hired by Oxy right before Christmas, so I know I’m on the chopping block. I’ve accepted that. I’m not eligible for an package really, but I am... — read more
L-OXY, look at the bright side ....
You're getting paid 70% of your base salary to perform home improvement projects !!! Best projects for home resale: Any maintenance activity Bathroom upgrade or addition Kitchen upgrade
Oxy’s Notice and Severance Package
Updated on Jan 1, 2020. Just in case you were wondering what it may look like if ever that day comes. https://oxylink.oxy.com/Docs%20Forms%20%20Plan%20Info/Summary%20Plan%20Documents/Notice%20and%20Severance%20Pay%20Plan.pdf
Bankruptcy
How close are we?
The Real Price Of Texas Crude Oil
S. crude prices at Texas slide to near $10, lowest since late 1998 By Devika Krishna Kumar and Laila Kearney ReutersMarch 30, 2020, 1:33 PM EDT NEW YORK (Reuters) - The United States' flagship crude oil grade plunged on Monday to trade at about... — read more
Are staff reductions possible with pay cut ?
What you guys think? Are staff reductions still likely after 30% pay cut? Can anyone with insights of any such discussion please comment?
Who does she thinks she is? Nick Saban
That wasn’t an update, it was a poor half time speech.
LAPC LTI
Anadarko.sharepoint.com/sites/weareoxy/site pages/LTI-QA.aspx 2nd bullet point: A participant’s 2020 Long-Term Incentive will be no less than what they actually received in March 2019. This was information provided by OXY to determine what... — read more
Sub $20 Oil
Are the vultures circling Oxy yet?
Tyrants on 31! A Modest Proposal
With upcoming 30% pay cuts for L-OXY - combined with huge CAPEX cuts - why should the tyrants on 31 insist that everyone show up on a regular schedule? Given their performance (lack thereof!!!) VH and entire EC should only require so much handholding... — read more
The materiality principle, in accounting
“...The SEC has suggested for presentation purposes that an item representing at least 5% of total assets should be separately disclosed in the balance sheet. However, much smaller items may be considered material. For example, if a minor item would... — read more
VSP L-OXY
Anyone know if VSPs for L-OXY are still available or will they be offered again?
Glassdoor: "93% approve of CEO", "82% would recommend to a friend", "4.0 stars"
From what I'm reading here this doesn't seem accurate
Uh-oh. Not only for our hurting company, but entire Energy & Automotive Sectors
From the UN. Pretty dire predictions. Let's all hope this mess doesn't last long. Best wishes to all. https://www.dailysignal.com/2020/03/27/latest-un-report-forecasts-grave-economic-consequences-from-covid-19-shutdowns/
this is the smartest move ever
Let’s picture this Lowe the pay by 30% to LOXY Wait till Aug , Lower the lay by 30% L-APC Lay-off based on the reduced salary. As long as VH is still the CEO, there will be no reorg.
COC hopeful here
So I made the mistake of betting on OXY and rescinded my VSP election. Worst. Decision. Ever. Previous poster mentioned loss of 2020 LTI awards. I received 2019 LTI but don’t get LTI every year, maybe half of the time. What are odds that this... — read more
Pure madness
Has anyone who’s opted to take the LAPC VSP but still working considered filing for COC now because of the 4.9% paycut and loss of 2020 LTI award? The lump sum and PTO payout will also go down. Surely all of this should be enough to trigger COC... — read more
C’mon People!
You people saying you’re glad to still have a job and it could be worse, etc., are like a battered woman saying “he loves me” and “he doesn’t beat me that much.” You’ve all got Stockholm Syndrome. Our situation wasn’t caused by outside forces. ... — read more
Feb Open Letter from Icahn................
Dear Fellow Occidental Stockholder, For years, Occidental Petroleum repeatedly and publicly stated that they would maintain a prudent balance sheet and not take undue M&A risks. They made these commitments because history has shown that commodity... — read more
Tax Bill Due
$2.2M back sales tax due The Woodlands Township https://www.chron.com/neighborhood/woodlands/news/article/Woodlands-board-forms-COVID-19-response-group-15159765.php
Stop hating, start preparing
We can all see where this is going. If there ever was a time to put all of your energies in preparing for what the future might bring, it is now.