I have to hand it to VH, our board, and our EC. The timing of the Anadarko deal couldn't have been much worse. Their arrogance has put us all in a world of hurt, especially if these prices stay low for very long. They'll press their Hawaiian shirts, send out a video, and then deliver pink slips to many of us who need the job to pay our bills and survive. Meanwhile, they'll drive off in their Bentley's and enjoy their many millions, as a reward of their atrocious leadership. Makes me want to run my key along the side of that smug SOB's creme colored Bentley convertible. Tomorrow's going to be a lot of fun. Yippee.
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I believed in Oxy team and even loaded up on stock after closing. The stock has really done nothing since then, but with the corona virus scare and the oil price war now k–ling all oil stocks I wish Oxy had not bought APC. There is no way anyone could have predicted the corona virus and the price war, but with our debt it sure makes for a tough situation. If someone had not bought Oxy I think we could have weathered this storm better without so much debt. If the dividend is cut I will think the whole thing was a bad idea, and then I think some serious changes need to take place at the top.
Icahn must be laughing out loud for being ignored!
Chevron's CEO and Anadarko's CEO provided VH with a tough and painful lesson in business management, which will cost our company. Chevron walked away with $1 Billion of free money for making the smart play. Anadarko shareholders, execs, and many of the rank and file walked away with big fat checks, while all of the legacy APC employees are still protected by large compensation packages should they be laid off. Meanwhile, we're stuck with ineffective leaders, an insurmountable debt load at these prices, worthless stock and options, the likelihood of more layoffs, and indentured servitude to Mr. Buffet. We thought things were bad in April 2016 when VH became CEO. Under her leadership, things have gotten a whole lot worse. Roll Tide.
There are no development son the Africa sale also, that could have reduced debt load. If I was Total I would drag my feet and let it slide. If Algeria is not willing to sell or whatever then Total should be happy that they can't buy it. Let Oxy books carry the devalued asset should be their preference.
VH, time to take another ride in the kayak I guess!
It can’t be all arrogance - it’s got to be stupidity. She (and most of her reports) have poor understanding of risk management.
VH and her minions should be in jail for not allowing a shareholder vote.
By taking on so much debt, Oxy cannot be a target for any takeover. Just not edible by any sane company.
Stock will tank when normal dividend is cut.
When Oxy can’t pay Warren Buffett his special dividend, he gets his pick of best assets.
Oxy a $10 stock by June
Karma troll at it again. Harassing OXY employees. GO AWAY. What goes around comes around and bite you on the arse big time.
I can't believe how epic this is. Ive been wanting to see this come back on Oxy for so long that this kind of karma can only be dreamed of. The disgrace you people are thinking you can persecute others and affect their families with bigoted bullying, then this sort of thing pops up and you people and YOUR families are facing something much worse. Don't get me wrong, the personnel payback is still to come, but at least on a professional level you people can suffer the way you think you are entitled to make others pay for your hate and bigotry. Don't like it when its you, eh? At least the big difference is you people deserve it instead of your victim who you just though were their for your to persecute with impunity. I love this. Its karma on every level.
And to think, our CEO bypassing the shareholder's vote is what doomed us all. Our shareholders would have said no to the deal which would have saved us, if she would have let that vote happen. And the shareholders are the ones who suffer the most. How in the world is she still running this company?