God I hate VH and I hate this company. Case studies will be written by grad students for the next 50 years on how corporate greed and mismanagement of fiduciary duty to stockholders completely ruined a once great company.
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OP, you’re correct
@hvo, you’re a mrn, on the EC, in HR or some combo of those attributes.
I’m a LOXY VSPER who had 12+ enjoyable years with Oxy. VSP was good timing for me (as well as great $’s) but the clincher was the idiocy of VH & EC on 31 doubling down on Permian UC wells (in aggregate losing money) in 2017, 2018 and 2019! And the coup-de-grace was more Permian UC’s with grabbing APC. A transaction that was too expensive, totally non-strategic and executed poorly. And they expected that 2020 would reverse the trend? Pure lunacy.
It was a train wreck starting in 2017. I knew some Engineers and Geoscientists in their mid-60’s who did not take 2019 VSP because they thought they’d make more money by staying on. I’ll bet they rue that decision now, with 30% pay cut, no bonus, no 401k match,...
COVID-19 helped usher in a faster collapse of Oxy, but Oxy was doomed anyway when it kept doubling down on Permian UC plays. Nothing but a sophisticated Ponzi scheme.
@hvo+14WNffmL is still drinking the Kool Aid
We’re going under because one person-VH. Covid is just a cover up
Get over it. No one cares. Millions of Americans have lost jobs and companies across the economy are going under.