When did it go wrong?
Built in the early 80’s to become a global company. A leader in subsea technology.
Developed by men with vision and run to the ground by people with none. Don’t blame the downturn. Companies are still growing and hiring and making a profit. Who is to blame?
3 replies (most recent on top)
@OP the Three Amigos and the first 15 employees hired between 1981 and 1983 were the visionaries. They personally designed, patented, manufactured, sold and serviced every connector and mudline system for the first three years.
Yes, there were many failures but their determination and desire to be the best prevailed.
I served the company from the beginning and one of my responsibilities in the beginning was to take any check that may have come in to the bank so we could all be paid.
When I parted ways with the company, our revenue was close to a billion dollars, we had 400 million in the bank, stock was 140 dollars a share and had no debt.
We took the entire subsea market from the leaders. Non of the successors after Mike, Larry and Gary had a clue of what that business was about.
You know why? They were hired throughout the later years and were the very people we spent 30 years defeating.
All of them blew it.
@1kx Blake was as surprised to be stepping down as ceo as Jim was retiring
Blake for being blindsided by the feathered one when he hired him. Alarms bells should have rang when Bird started shaming to oust Gariepy (and who was as much ready to retire as Trump)
Blake was always going to be next in his line of sight. After that, it was always going to be an asset strip in order to feather his own nest (pun only partly not intended)