Thread regarding Occidental Petroleum Corp. layoffs

@1dsl+14c2tZgL F—ed.

Icahn will either sell off the profitable pieces of the company to raise case and then exit, leaving the remaining sh–storm with VH to declare bankruptcy or split the company, with the better portion primed for acquisition.

Option 3 is Icahn fails (which he has some times in the past) and the whole company collapses. See what happened to Sandridge energy. Icahn and his board rejected a takeover offer when the shares were north of $17. They trade for pennies now.

No matter what option comes to pass, Oxy as you know it is done. VH's "let them eat cake" decisions destroyed it for everyone not making north of 7 figures a year.

I could have gone without being reminded of my LINE stock.

Why one commenter is so sure Bankruptcy may not happen? See Linn Energy and their debt history. See the long tally of many others that risked their shirt of! Yes, seriously, consider all scenarios.

Icahn rode blockbuster video to bankruptcy. He is still involved with hertz after losing 90%. Hes not adverse to throwing lots of good money after bad on lost causes.

I don't know who you think will be buying Oxy's assets so they can raise cash. The only asset sales that might happen in the current market will be at fire sale prices. Odds are, Oxy will just have to cut capex more in the near future to preserve cash. And if oil prices drop below the teens, then all bets are off on survival. They have some time though, others will fall first.

The only way Icahn can keep Oxy out of bankruptcy court if it comes to that is to extend credit to Oxy or Oxy issue shares to Icahn for cash. I don't know either will happen, since he will likely have better investment prospects elsewhere. Buffett is probably a better bet, though even that is probably a long shot.

So Icahn sells his shares as soon as there is a little rise and makes money. Then where does that leave the rest of us??

Icahn invested to make money. He buys low, convinces the co. To make changes. With the amount of shares he bought the stock would only have to rise a little from the 14.85 price he paid. That assumes after the changes the stock does rise.

Exactly. My best guess is Oxy will begin selling assists in 4-6 weeks. Bankruptcy will begin by June.

Icahn actually is stupid for further investing in this sinking ship. It’s just another write-off for him, but for us, it’s our future.

Will sell various assets first. Keep the previous Permian for last if s—t gets real bad.

He is not stupid. Has a lot information than we do.

How exactly can Icahn “not allow” for bankruptcy? He can’t control that!

For now Carl Icahn owns at least $1 billon of OXY stock. Not likely he will allow his investment to be wiped out in a bankruptcy. We will see.

Seriously, will Oxy file bankruptcy?????? No way this can happen!!!

Need to sell some assets first!
Will be so quickly layoffs may not happen
But it will be hard to find buyers since companies are having a hard time selling oil now!
Oil price heading to 10s next week or two according to some traders

A few months.