6 already gone voluntarily, 20+ more to follow.
5 replies (most recent on top)
Sounds very similar to the weatherford business model! That was a resounding success - not!
Disagree with the last post being part of NOV means bills are always paid on time which allows you to maximise cost savings with suppliers and also cost breaks when making batches. This is a huge advantage of being part of a corporation.
The biggest disadvantages are mismanagement, inflexibility with client requirements, NOV thinks profit is always king - it’s not. Finally too many fat cat layers of management with no product pride or worse no interest in product ... only $$$$$
NOV is a large corporation acting like a bunch of small companies. So they get all of the disadvantages of being a small company with the none of the advantages of being a large corporation.
Absolutely NOV pays too much for small companies then totally mishandles them as management don’t understand small business relationships with clients. Anson and ASEP were both bought on same day and more or less both businesses have disappeared or at the very least the revenues and profits are a shadow of what they should be
National Oilwell Varco the company that buys and destroys smaller companies.