Thread regarding Occidental Petroleum Corp. layoffs

hgf post on Oxy executive pay for deal? I am not sure that it was the Oxy execs that enriched themselves but actually the Anadarko execs. Anadarko execs changed there payout right before Chevron made their bid. That was a APC corporate document they filed.

Then when the Oxy deal came the APC board approved million dollar bonuses for 3 of their execs in addition to the original payout adjustment before the Chevron deal. I have not seen any documents on the Oxy execs so I am not so sure about that. Where can that information be found?

LOL #Yammer

What a self-indulgent waste of time.

Leavenodoubt.

It's not $38B. You forgot about the $15B in long term Anadarko debt that Oxy is also assuming. $38B is just the stock and cash portion. And there is no guarantee that any of those assets will sell in a buyer's market with oil prices cratering. Oxy overpaid by a HUGE amount, at the worst possible time, and then got hosed on the financing.

38b -9b (Africa) - 6b GOM - 8b wes comes out to 15b for a 17b asset oxy knows how to drill. They said yes to Buffet because the value is there. Time to go long on oxy while its on sale. Ichan just wants in on the action no surprise.

At least in one respect the deal was meant to enrich the top level executives at Oxy. That aim was most certain and clearly planned by those who arranged this deal. A last second hike of executive payouts to the tune of 22 million bears out that fact. Seems like each week there are more wrinkles in the fabric being exposed and the bed sheet appears ever more soiled. I fear that this oilfield story may end in tragedy and when all is said and done, the tale of Occidental Petroleum may be one of caution for those who attempt to line their own pockets while they fleece the corporate sheep.

It stuns me that there are still Oxy employees who think this deal was a good idea. I think there is a very good chance Vicki will be gone soon. A takeover would be horrible for all of us. Icahn will chop this company up and sell it for parts if he has his way. This deal was stupid from the beginning, but now that oil prices have dropped 15% and interest rates are tanking since the deal was announced, this looks like a disaster of epic proportions coming to a company near you. If the shareholders aren't happy, the employees definitely will not be happy.

You sound like an Icahn plant. He would just love to be on the BoD.

To damage shareholders like this was a huge over-reach. At the very least, the shareholders were entitled to a vote. Now we need to take steps to remove the entire board and executive management.

No shareholder of any company gets treated the way we have been treated.

BoD and Executive Management may have been correct that this deal will be transformative for OXY. It may transform into the sale of OXY which will be supported by the vast majority of shareholders.

I worry that it will reduce the VSP, retiree medical. I hope it does not mean removal of the existing management and BoD.

It shouldn’t get in the way of the merger closing. It’ll just make life up to and post-close very difficult. It will expedite asset sales, lead to deeper lay offs, board seat shuffling, etc. Good times.