Has it occurred to anyone here that Buffett and Icahn money is invested and that’s a good damn guarantee we will survive. Vicki was bold. Every company is doing poorly. We need to stop b–ching about this being anything other than a pandemic issue with bad timing on price. I still believe in this company and we will get through this.
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OP is delusional are the Original Brown Nose, As stated he is definitely in management, because clearly he has not had pay cut pension frozen VSP denied are blocked from VSP are just out right abused from the acquisition of APC, As many have stated OXY has a history of fabricating truth current self dealing is so obvious that there news on the horizon such as take over bankruptcy etc.
Don’t be blinded by the BS, as previously stated by OP/BR that OXY will survive! I highly doubt that especially in its Current form no way!!
40 billion in debt low commodity prices hired a firm that specializes in Bankruptcy NOW the executives are manufacturing Golden Parachutes for executives Only not the employees who actually do the work so good luck with your forecast OP/BR in can’t wait to hear your response once the drama is over!
OP is a PunkPetro member who got pumped up by thinking one day VH will be in the all women hall of fame. Yes, stock is up but the debt is still there and no clear answer from Moelis on how to handle it. This ship is sinking because of the debt.
I dont mind waiting for the exxon/chevron buyout. I dont see oxy going to ch11. Icanh won't allow WB to steal his valuable assets. And exxon/Chevron would rather buy the company with existing assets, because unlike oxy, they can turn those deepsea and African assets into money printers. Xom cvx will figure out a way to refi the debt or absolve it and screw the bond holders.
Because we’re being bought by Chevron or Exxon.
OP, then why did they file executive severance plan change with SEC?
OP
Buffett made a great deal for BH; Vicki not such a great deal for Oxy. If I could get a guaranteed 8% on my assets with principal guaranteed, I’d be all in. And if Oxy can’t pay up the $800MM/year, BH takes assets of his choosing.
Icahn is jealous of the deal Buffett made. Icahn is a corporate raider of the worst kind. To make a profit, Icahn will give Oxy EC and VH big sendoff packages while screwing employees as much as possible. It’s his MO. Ancient history of TWA and ongoing saga at Hertz doesn’t bode well for Oxy EE’s.
Merger with APC was a bad strategic idea and bad tactics compounded the problems. Even without Covid-19, it was no good. The numbers didn’t make sense.
VH cut salaries by 30%. When to restore? Layoffs first, then..? No bonuses? EE’s screwed again.
VH/EC cut nice dividend (twice) to $0.04 / share/ year. Shareholders screwed (again).
The original sin of VH and EC was the doubling down on the Permian Shale Ponzi scheme from 2017 through 2019 despite losing money in aggregate each year. Over-promising and under-delivering while continuing to lie.
Someone else on this board coined a good term for VH and Oxy EC:
Errorgance: a lovely combination of error/incompetence and arrogance.
OP pull your head out of your @$$
OP - I totally agree. Many of the complainers appear to be s-xist and they probably have mommy issues. Oxy has a history of being second guessed on the acquisition front. They will pull through these rough waters.
Original Poster (OP) you may be right. But the company has made too many completely unscrupulous moves to keep employee trust. Freeze LAPC pensions. 30% salary cuts for LOXY. Dodgy 4.9% cuts for LAPC. Excluding so many from VSP. 30% rate cuts for all contractors. They’re getting praised by investors for lowering their cost to produce. But investors don’t understand how non sustainable it is.
Will someone tell me
Who OP is
You really need therapy.
Shoveling a lot of S**t there OP. All for nothing, no bonuses for HR any more. Get ready
for your pink slip, and please clean off your nose.