Up or down Q3
23 replies (most recent on top)
The strategy is bad no doubt, but if this was the only problem, we would be hitting our numbers, we are not. So there is poor execution in the mix. Personally, I find it difficult to subscribe to narratives of the "problem is the other", which you hear in every BP conversation....
The “business is in a pickle” because the C-suite has had terrible strategy. Employees do a good job, but the results are bad because the strategy is bad
Ofc, it will be small and in the town hall/webcast he will drop a comment about the vesting of the reinvent shares and tell us to lump it politely, actually with Murray the politely bit is not guaranteed.
SLLs and GLs will mostly lump it too, everyone in BP is on the gravy train until they are kicked off it (and get a redundancy payment in the process), and let's be honest if everyone in BP is as good as they think the business won't be in such a pickle.....
I think they’ll have to give decent bonuses because the reinvent stock will not be enough incentive for most people to stay. This is specially true for SLLs and GLs who only got stock options that they would have to buy.
Can Murrtard do anything to make morale even lower?
Dividends were cut by half with promise that bp will be a growth company like technology companies who don't pay a dividend but the stock price will appreciate like Amazon. This was Looney Tunes warped thinking and the current LT and Board just sat there like clumps of rice and watch everything spiral downward.
i started here 20 years ago...compaby was worth twice as much back then. could have liquidated the business, taken the proceeds abd kept rolling the money over in gov bonds. There would be so much more value today.
The share buybacks only prevent share dilution for the share grants that are distributed annually. It does nothing for the stock price . I have been with the company for over 35 years. The share price when I started has only doubled after 35 years. This is less than half the appreciation for Shell's stock price over the same time period. I am not going to mention Exxon or Chevron. During the oil price bust in 2020, Exxon's share price was what BP's share price is today. Recently Exxon stock hit ATH of $125.
@2mms+1v3xZ2ec I would love that to be the case, but they receive, as far as I am aware, different types of bonuses, meaning shares, share options, cash bonuses. MA gets money in lieu of pension contributions because he will have reached the maximum allowed in the UK for tax relief on pension contributions.
i hear ceo and lack-of-leadership team won't get anything if rest of us dont
@1oyi+1v3xZ2ec any idea what Murray's bonuses will be? Or, indeed, the bonuses for the LT.
Buybacks are a fcking waste of money*.The company gets nothing out of them, nothing. Image if we could reduce them by 1/2 (or event 1/3) and invest into company.
*Also, for a long time (if memory serves - untils 80s) - they were illegal. And for a good reasen.
the stock never has a good run...share price was higher 1 year ago, 5 years ago, 20 years ago and 25 years ago
@1abl+1v3xZ2ec The stock had a good run but by definition buybacks artificially add value but they are also an admittance that you are not investing in your business/have no ideas to generate actual value. In summary a bit of a high, profit was taken and now recognition of no long term value :(
@1abl+1v3xZ2ec What a terrible idea the level of buybacks. Market got used to them and I wouldn’t be surprised if a lot of the stock weakness is because the markets know they’re unsustainable!
It is a paradox then. Murray is presiding over value destruction but won't ax himself.
Having a CFO as CEO means he will axe any costs that don’t drive value. Bonus, raises, and other things like Energize will probably continue to dwindle. At this point, I’ll be happy with ANY bonus.
the buybacks have not rewarded shareholders. the stock declined, bp bought back lots of shares, and the stock continues to tank
-
7 to 0.8 and equally weak yearly raises.
Between the Whiting power outage and stock buybacks, BP is clearly looking to mightily reward investors and tolerate their employees.
Definitely better than 2021 though where we had zero bonus and deferred raises.
Confucius say if bonus is zero, the upside is that everyone gets the uplift.
I have heard talks of cancelling the payment of ACB next year, just like we did not get ACB in 2021
Flat. 0.6-0.8.
Or MA sends you a bill and you pay him.
It’s a toss up.
When all is said and done, the ACB will be at 0.8.
That is a low, but not a truly offensively low value. The proclaimed silver lining will be that the "(mo--nic) reinvent" shares will also be vested, so you should be clicking your heels. At the end of the day, bP is seriously ***+ked