Carl Icahn - A perspective - post regarding Occidental Petroleum Corp. layoffs

Carl Icahn - A perspective

Carl Icahn has a long history as an activist and corporate takeovers. His latest target as we all know is Occidental, framed by his excuse the deal was poorly funded and timed, etc. This is just an excuse. Rather, it is because of his long standing competition with his nemesis Warren Buffet. I noticed he started buying OXY shares the day after the deal with Buffet was made. Of course, Carl is not doing this out of the goodness of his own heart battling bad corporate boards and governance as he would have you believe. Where was he when other companies such as Encana's debacle, Diamond Shamrock, etc. And several others.

NO this deal with Carl and OXY is PERSONAL. It is a vendetta between him and Buffet. He does not really care about the company and it's employees.

Unfortunately this has gotten thousands of innocent employees caught in the middle and many fears of being bought out sold in pieces, laid off, etc.

Some of you out there are cheering Carl on. You are wrong to do so. You should pray for a better outcome and for the right people to be running OXY. NOT Carl's people. Those people he wants to put on the Board have nowhere the experience and knowledge of running and oil and gas company. They do not understand properties, the business, CO2, etc. All they know are "Financials" and is not enough to upright a sinking Ship. Carl's plan of selling OXY off in pieces and or the whole company is not the best solution.

Carl is the LAST person to be running an oil and gas company. He screwed over Texaco, nearly drove Texaco into Bankruptcy, TWA, Chesapeake, Sandridge,

OXY is NOT the only company who has had to come up with a Poison Pill to avoid a Carl Icahn takeover. Netflix had to do the same. I am a shareholder of Netflix and remember this very well. He was pushing for Netflix to be sold.

Same story here with OXY.
https://www.cnet.com/news/carl-icahn-considered-hostile-takeover-for-control-of-netflix/

Glad to see OXY put in a poison pill to stop Carl Icahn. He should not be on the Board, nor his people. They are NOT oil and gas people like we all are here on this Board. We love the business we are in and want it to be successful and run by people who know and love the O&G business as we do.

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9 replies (most recent on top)

Icahn does NOT deserve Board Representation. You are asking for more trouble than it’s worth by cheering him on. He got 10% ownership with a very dishonest ulterior motive that does not serve anyone well. He is a crook. No matter how angry everyone is with Vickie and the Board Carl Icahn is NOT the solution! He is a liar and look at his company’s financials. And Bill Ackman belongs in the same category as Icahn, Look what he did to Herbalife over a five year period. Finally had to quit the game. And Carl Icahn jumped into the Herbalife game as Bill Ackman’s competitor. They all just enjoy a good fight over companies and it’s unfair to put OXY and it’s employees in the middle of their games. I hope God has a special place in Hell for these two.

What a crock. Icahn's move is about making money - he doesn't care one way or the other about the people. It is all business, nothing personal. And this is how business works. Icahn currently owns >10% of OXY and deserves board representation and to be heard out. Do you OXY people want some cheese to go with your whine?

I don't care what Icahn's motives are, things cannot get any worse at Oxy. I just want to see VH and the board go down in flames. They are the ones responsible for this debacle. Whatever it takes. BTW Chesapeake and Sandridge both have had very slippery management and they needed to down in flames too.

Icahn said yesterday that he believes Vicky and the board went after Anadarko to get away from being acquired by a rival at 70.00 a share. I would love to see the facts to what he believes. I understand making outrages claims to get attention, but why would he say that unless there is some truth to it. At 70.00 a share the stockholders of Oxy would have done well.

OP, you're absolutely right. VH has done a WONDERFUL job turning our company into a $10 Billion company (never mind that we were a $100 Billion company to begin with). I have no idea how he could do any worse, and she and the board must go! I don't care that she knows Oil & Gas, because she clearly does not know how to perform risk management and run a successful company. You talk about Icahn's beef with Buffet, never mind that Buffet is a very shrewd businessman as well, that we are now completely beholden to, and it sounds like you think that's a good thing. VH absolutely destroyed what was once a great company. Face it, our future is not at all positive. Oil prices won't less us recover. My stock is worthless, and now I basically don't have a dividend. We owe obscene payments to Buffet because of VH, we have a crazy level of debt (because of VH), and we'll all most likely lose our jobs (again because of VH). I don't really care what happens to Oxy anymore, as long as VH gets taken down like the rest of us. I hate her.

Look at IEP Financials. Does it tell you what a great ship he's running?

Just a brief snapshot:

Profitability
Profit Margin -12.30%
Operating Margin (ttm) -15.60%

Management Effectiveness
Return on Assets (ttm) -3.54%
Return on Equity (ttm) -14.71%

A Magic 8-ball could make better decisions than the current board though.

Hell No, just a long time O&G person. Am speaking from experiences with Icahn & his modus operandi. NO good has ever come out of his antics and has nearly pushed companies into unnecessary bankruptcies, Millions of dollars wasted on these takeover attempts, the lawyers and his companies make money off of this and should be outlawed.

Vicki? Is that you?? Haven’t seen any corporate correspondence over the last few weeks other than “we need to do more with less”. Trying to rally the troops? Roll tide?

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Carl Icahn - A perspective

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