Current employee here 10 years with the company. Darren and the execs have pirated this company, enjoying bottles of wine and traveling first class to avoid doing any real work at the office. It's time to say... YOU'RE FIRED! I don't care about pension or if I'm laid off or if the lazy retirees lose their healthcare. I'll get another job and in a better city! It's time for a serious changing of the guard!!
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I agree - the fundamental issue of E1 is that returns under current governance is lacking and things need to change. Seems like a no-brainer to me.
OP’s pseudonym says it all “p-ss-d off Employee”
I am maf and want to blame someone so I will cut my nose off to spite my face. That will show them!
I’m with the other dude, I’m voting for Jesus
No, EM is a victim of its own success in a matter of speaking. It was painfully obvious within 5 years of the merger with Mobil that the merger had created a monster that would be impossible to keep fed. Really think EM wanted to invest in Canadian heavy oil? No, of course not. But management knew that once it burned through the Qatar opportunities, there were few opportunities that offered the reserve and volume adds needed to keep Wall Street happy. Analysts demanded 100% reserves replacement and 4% volumes growth. With base declines of 8-10%, EM threw money at low value opportunities just to feed the monster. That’s what led to XTO as well, with the hope that it had lots of near term volumes potential. But despite desperate measures, the monster was simply too big to feed and keep full. That largely led to sub-par performance over the past 7-10 years.
Now that industry has successfully planted the seed of peak oil, the game will change. Analyst pressure for growth year after year should diminish considerably. The “green teams” thrill with hearing the term peak oil actually takes pressure off big oil. Ironic and hilarious at the same time.
Lol. Typical EM employee. What has worked in the past will continue to work to the future! Isn't that was has led to our continued decline in stock value through the last 10 years?
E1 is going down in flames baby. Trolls gonna troll.
Hope those 20k shares are RSUs because XOM is NSI
As a fellow shareholder, I want my company to be forward looking and actually drive category change because that is what leaders do. I don't want a bunch of Kodak execs trying to hold on to film photography in the digital age because that is all they know how to do...
@1xde+19YeIIPw
Then go work for one of the European majors that don’t have any oil and gas prospects left. As a shareholder, I want my company focused on the business they know, not trying to get into some politically correct fad industry. Please Google Mobil Oil and Montgomery Ward for a lesson on what I’m talking about.
Why? Because you are close to retirement and they are going to take your golden handcuffs away from you? I think the company is going the wrong direction with current strategy of doubling down.
I’m voting for engine #1 too. 5000 shares. Will there be cuts immediately? No. Will it give DW a black eye? Yes for sure. Can 4 directors push so much change? Not really, but at least DW is no longer the chair- let him have the feeling of hot seat and having to work for his job, just like rest of us employees.
Oh to be young and naive again like OP. I am mad and want to lash out. Who cares if I’m doing so I make the situation worse. Go ahead and throw your tantrum and move for the corporate raiders. Then wait and see what happens. When things get considerably worse for everyone but the raiders I’ll be here waiting to say I told you so.
Very near retirement here. 20K shares so far. I voted against Engine 1. I appreciate what they're trying to do and I've seen the activist investor approach work before to break up the cronyism endemic to big corporations, but, I think they are way out of their league here.
I don’t see the problem.
Im one of the disgruntled employees here and i have 2000 shares. Voted for engine 1
Go ahead and vote for E1. The dozens and dozens of trolls here don’t own any shares, and the disgruntled employees that spend all their time here may own 1000 shares all together. LOL
Drain the swamp. Haha. These guys will dramatically cut employee salaries and benefits and work whoever stays like never before. It shows ignorance of employees filled with hate backing a group that will do just the opposite of what they say they want. Shareholders first, employees dead last. And don’t think it won’t spread to whatever company you run to. But if misery makes your life better, go for it. Vote them in. Deserve what you get.
I suggest each of you dig a little bit deeper on who the folks are that run Engine #1, and what their goal is with EM and other companies or you can just freshen-up your resume. Its always prudent to be WELL informed.
Vote Jesus it’s the only way you guys
@tcz+19YeIIPw This doesn't make any sense. Why would they be called activist investors then...?
Anyways, their list of changes all makes sense to me. It's time to change our strategy if we want to survive long term. I'm voting Engine #1
This is NOT a good idea folks. Activist investors are not in business for altruistic reasons. They are generally in it to line their own pockets. Don't cut off your nose to spite your face.
You are another XOM koolaid drinker from camp DW. Such an id–t you are.
NOTHING CAN STOP WHATS COMING!!!!!!!!!! Down with Darren!!! DRAIN THE SWAMP!!!