The 'One McDermott Way' Might Still End In Bankruptcy Court
https://seekingalpha.com/article/4298109-one-mcdermott-way-might-still-end-bankruptcy-court
7 replies (most recent on top)
Wan McDermott.
One McDermott?
Gone McDermott?
Everything don't have to be awesome, tomorrow don't gotta be Rosey. Cause Jesus rides in to work with me and keys in right be hind me and shares my cube. He will see me through these troubled times. Only one set of footprints in the sand. And if your one them visa guys on the other floor you can imagine that Ganesha or Harvey or some other circus animal will help you meditate your ways through all this. Don't get all worked up. Just sit there breathing in the opium of the masses. Bad times always come and you will get through this. Noone ever loses their jobs and is out of work for 2 or three years. No one ever takes a 50% pay cut. All causa Jesus...or Shiva. Course, history is written by the winners and there is a big survivors bias engineered into our history. The losers are gone and voiceless. But that won't be you. Just sit there. Amen.
It turns out there are actually two McDermott Ways. Clockwise in the Northern Hemisphere and counterclockwise in the Southern Hemisphere.
Yeah, it's a re-run. An oldie but a goodie.
No, where is it headed? Reduction in force so MDR can pay its vendors as well as afford its interest debt and the Big Boys' retention bonuses?
Agreed. There is an annual award given for the “Worst CEO in America”. From the Engineering & Construction industry, both the CBI and Fluor CEO’s have “won” the award in the recent past. Where are they now, you ask? Fluor CEO was fired. CBI CEO “retired unexpectedly” and is now in a Colombian jail. Notwithstanding the lender-imposed retention bonuses, DD may be a winner in another way. Can you see where this is headed?
This situation with MDR should be taught in business schools as a perfect, textbook example of how NOT to run a company, bid and manage projects, do acquisitions, and most especially corporate ethics.