I keep reading posts here alleging fraud and shady behavior an the part of certain (and sometimes specifically named) VPs and higher. If you haven’t done so already, then report the behavior to the press (like WSJ or NYT or some other major paper) and/or the appropriate authorities. Posting it on this site is fine, but it doesn’t have teeth. Doing so is your ethical obligation.
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Do the math. Public exec compensation reports paint a clear picture of why they choose to continue the dividend. Senior management is mostly compensated with stock awards, which from their personal cash flow perspective supports continuing the dividend payments to “shareholders” (AKA themselves). Perfect example of the lower ranks suffering a bigger penalty than senior management while they lie through their teeth about being equally impacted.
Dodd-Frank protects people who report good-faith tips to the SEC from retaliation by their employers.
Fair and honest reporting of facts is essential. The problem with EM is that the management doesn't share anything with employees
plus
they have used plenty of scare tactics over few decades that people forgot to speak up or even realize that it is ok to have your own opinion and words.
One could start with per barrel (real) numbers of Algae as fuel and projected (real) volume production in next 5-7 years. With excess shale oil and gas capping crude price below $50ish/barrel, it should be easy to assess if the investor money is being misused to create kingdom Kong.
Similar examples can be found all across the board in many other organizations. Simply calculate – costs/expenditure, management portrayed false value numbers and the actual real profit (As a thumb rule from URC valuation, a $400million value shown on paper will in reality lead to a $5 million of expense and loss to the company.
@obf this is not unique to Exxon, but any wrongdoing is often better reported to a regulatory entity than some internal “whistleblower” line. It probably just goes to someone’s junk email box.
If the fraud is financial in nature, and you have evidence, I would suggest going to the Securities and Exchange Commission .
Isn’t there an anonymous line at exxon to report wrongdoing?
I recall a video training with Rex on ethics, standard of business conduct.
Does anyone even use that?
We know HR is useless, but any experience with the other hot line?
Seriously—although outing the person on a lay-off site may be therapeutic, they can dismiss it as angry employees venting. If you have evidence, then you can really right the wrongs by either making it public or letting regulators do their job. Signal is your friend
Despite the current political environment, government agencies are usually foaming at the mouth for chances at enforcement.
Ya, I’ve seen posts about people fudging data. That’s not ok... that is super shady.