Article in Houston Chronicle, Friday April 10:
Oxy wants U.S. govt financial aid for the oil industry, even as it (largest producer in Permian) urges Texas regulators not to interfere with market forces.
Vicki Hollub, CEO, is urging employees to send a pre-written wish list to members of Congress. Among other requests, Hollub wants the Feds to “ inject liquidity” into oil markets until thing return to normal.
All this after Vicki subjected employees to a 30% cut in pay starting April 1?
Message from Hollub to employees: “Now more than ever, we need to inform our elected officials that inaction could result in long- lasting harm to the U.S. economy.”
What the heck about the liquidity of employees?
Another illustration of the unique combination of ignorance, arrogance, greed and incompetence in VH and her minions.
The same qualities that led to the disastrous (for OXY, APC and EE’s of both) merger. A merger that was ill-conceived from the very beginning, abetted by a horrible deal with Warren Buffett, executed with abysmal skill and now followed up by insufferable whining.
She and her minions need to be removed from Oxy. She should’ve had the grace to offer her resignation with the above request along with a promise to have no more layoffs at least until year end 2020.