Why is your company so inept and what led you to join this dumpster fire of an organization back when you did? This transition is being led with all the grace of mongoloid figure skater.
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With over 2,000 highly paid APC employees and contractors sitting in The Woodlands, Denver, and Midland, doing pretty much nothing for the past 3+ months, Oxy is paying out more than $50 Million per month in compensation while they bungle through this integration. Every additional month that they keep these people on the books that don't want to be here, will never give much of themselves to Oxy, and will continue to do pretty much whatever they'd like, is another $50 Million hit to Oxy. Every month...the waste due to incompetence is just incredible. Tick Tock.
And other winners include Chevron, who walked away with $1 Billion of Oxy’s money for nothing, and all APC shareholders who received a huge increase in their share price (which includes most APC employees). Yeah, Icahn is going to work Vicki over the coals in the end...it ain’t gonna be pretty.
Winners. APC management. Buffet. APC employees who took packages and landed on their feet. Total.
Losers. Oxy and everyone who remains associated with it You guys were rolled. Your management got emotional over money, unlike Chevron's management. Unless oil prices go up to ~75, you are dancing on the razors edge. And Icahn is going to seriously f— you up. Texaco never recovered from Icahn.
In my 25 years in the industry I’ve never worked for a more mismanaged company, and that’s saying a lot.
Without APC, OXY will have trouble sooner.
Oxy last 5 years:
$85 to $43
Apache last 5 years:
$78 to 23 and change
Nuff said
Big Gulp!
I retired from Oxy after ten+ very good years.
VSP was a great deal as I was going to retire anyway in less than a year.
Oxy was a good company, but run into the ground -IMHO- by the Apache “mafia” that came in somehow gained the complete trust of Vicki Hollub. Those f-tards ruined Oxy.
Big Gulp!’
@-gkp
You could say the same thing about APC. It’s unfortunate Oxy doesn’t seem interested in keeping the talented APC employees. Crazy how much Oxy is paying some great people to leave.
The company is filled with talented people, and the overwhelming majority of them are not responsible for how mismanaged Oxy is. Don't make the mistake of thinking that it is anyone other than a small group of close friends who are running things into the ground.
You can call it entitlement, but let me ask you this. What would you do if you have a ton of cash as option A, and option B provides virtually no communication about future career possibilities or next steps, anything we see about our future careers shows that we have practically no say and will be treated like mindless drones, a company burdened by a significant debt load, a company where virtually no APC folks are being looked at for senior roles even if they're more qualified and talented, the only exposure most of us have to Oxy is through the integration process which has been full of ineptitude and mistakes at best, and a complete disregard for the human element? I don't consider it entitlement to want option A, after everything we've seen with option B is flat out horrible. I wanted and hoped for more when Oxy purchased us. I've been through a previous acquisition at APC, again on the acquired side, which didn't go perfectly, but it went much much much much better than this. I really wanted this to work out, personally. But the proof is in the integration. And after this mess, it's very difficult to not want option A. Call it entitlement, but that again shows that Oxy doesn't care for the human element.
Oxy is not a bad company and you just see it that way because you feel entitled with all the fluff at Anadarko. A lot are just waiting on the cash and could careless about a job with Oxy or anyone else. You will be out on the street soon enough with your load of cash. By the way Anadarko was run in the ground by the executives and others, so I would not throw too many stones. APC has a lot of great people, but the entitled like you need to go.