Thread regarding Chevron Corp. layoffs

@cx all companies have agreed to the decision of the arbitration - no appeals courts would be involved - the arbitrator's decision is final.

@dw Exxon has stated they do not want to buy Hess

@hk

As I mentioned, I saw this up real close. Back around 2009, Chevron was more of a team, not us vs them, and some 26+ execs were pretty open about the game plan.

In the unlikely event Exxon needs a favor from Chevron at some point in the future, good luck! Karma is real...

@cx

You said:
"I felt better when Watson ("we will fight them until he-l freezes over and then we will fight them on ice skates") incurred the cost to take down Donzinger and the other scammers on the Ecuador lawsuit."

I saw the whole thing go down. Chevron's lawyers bulldozed everyone in their way and what they did to Donziger probably was illegal. I don't think that is going to happen with Exxon.

Recent Ex Chevron Employee here:
this is likely XOM being opportunistic in a no-lose situation, either they win or they delay CVX-Hess merger preserving their bonuses (exec bonuses especially will be relative to their peer group) tying up CVX funds/M&A activity, bad press, investor uncertainty etc. and who knows maybe the size and scope of this ROM is partially to do with CVX freeing up funds for any potential concession or any sweetener to get the deal through.

Interestingly enough XOM has their own ENGINE also in Bangalore, so competition for Hess/Guyana is not the only thing in play, but so is access to cheaper offshore tech centers. Both companies now have >150 job postings in India and very little in US.

Chevron will win this easily. They should then pursue damages from Exxon

would serve Chevron right if Exxon Mobil were to buy Hess

If XOM loses in arbitration doesn't it appeal in the courts?

Does CVX incur the cost to litigate or look to compromise and give XOM a settlement of some kind?

I felt better when Watson ("we will fight them until he-l freezes over and then we will fight them on ice skates") incurred the cost to take down Donzinger and the other scammers on the Ecuador lawsuit. Mike Wirth..... don't give in to Exxon !

The Hess entity that holds the rights to Guyana isn’t being dissolved or sold. It will continue to exist as a subsidiary of CVX.

All these posts about “chevron” will win. Cvx is not part of the arbitration….its Exxon/cnooc vs Hess.

Win or lose, it’s a significant short-term hit to Chevron (if they win) and short and long term hit if they lose. Who is going to be held accountable for this debacle?

Chevron will win. This was strategic by Exxon to bog Chevron down and extract some concessions in exchange for dropping the challenge. It was a no-lose for Exxon to challenge and drag it out, preventing Chevron from any further M&A activity

Exxon has smarter lawyers.

Chevron is likely to win the arbitration. The arbitration panel will probably interpret the ROFR clause narrowly, ruling that Chevron's corporate merger with Hess does not trigger Exxon's right of first refusal, given historical precedents and typical interpretations of similar clauses. However, Exxon likely pursued arbitration strategically to create market uncertainty, negotiation leverage, and operational disruption for Chevron, even if losing the legal battle.

Chevrons going to lose

Thanks