Hey just in case no one noticed CXO filed an 8K right under the wire with the deal closing that pays their top 3 an additional $10mil in "retention" bonuses. Glad to hear we have the extra cash to do that without layoffs, pulling back raises, or putting promotions and new raises on hold...
7 replies (most recent on top)
Since Apple was brought up, it is now a Me Too company. The company that invented markets now has just re-invented profitability. Slave labor pays big dividends.
A finance degree from Baylor must be worth something.
You are 100% wrong about Apple since Jobs departed. They’ve “only” introduced a watch that move more units than the entire Swiss watch industry, added best selling ear pods, and introduced/expanded the APP store, one of their most profitable ventures. Each of these dwarfs the “profitability” of COP and other poorly managed oil companies.
Here’s the key point: “cemeteries are filled with indispensable people.” Only id–ts advocate for retention bonuses.
COP management loves giving away the money for retention bonuses. They always get out maneuvered in that aspect. As for Steve Jobs and Apple, that is a poor comparison. Steve Jobs was the person pushing the innovation at Apple and the Iphone and Ipad are only a product because of him. They haven't come out with anything new, just upgrades. Nothing different to revolutionize anything. Most of these companies are now like that. The boomers and the young folks like to insult people with were the innovators who created all of these things we have now. Now that the younger folks are getting into the power positions, nothing innovative is happening. Just making changes to things that the old guys already invented. Oh well, they at least have an excuse in that they have busied up their minds endlessly with social media and wasting time that they don't really have any time to dream up anything new.
Well of course they did!
@kvo+196W0j8S Are you saying the top 3 at concho are on the same tier as Oppenheimer and Steve Jobs? The same top 3 that green lit the dominator pad? That admitted to a 40% base decline, which probably means it's a lot worse? If you are wait a second I've got some more Kool-aid for you...
Love the idea of retention bonuses! Recipients probably added little, if any value, can easily be replaced but are now “
Here’s a quick example of essential: Robert Oppenheimer’s role in the Manhattan Project.
None of the people receiving these payouts are needed (note that Apple has flourished w/o Steve Jobs. How do these guys compare?)