New board member, B.S from NBL who was president and coo, was with NBL for a short time before the chevron / NBL “merger.” As soon as BS joined NBL, there were layoffs after layoffs, believe he referred to it as right sizing the ship. Look at his past, most comp. he has been at, has been acquired soon after
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As a former NBL employee I wish everyone good luck. B S was bright in to NBL to position the company for a merger.
If recent layoffs have taught us anything, it's that you better be kissing that @$$. I'm still blown away on the engineering side who was kept and who was let go.
“ no more hiding out in the corner and collecting a pay check”. Wow. That will be problematic for many who post here
worked with BS in a prior life. Smart, likable, good leader. big agenda items are "continuous improvement" and "pay for performance". both good ideas but be prepared. no more hiding out in the corner and collecting a pay check. past performance will not ensure job security. can lead to a bonus period to bonus period/layoff cycle. less loyalty going both directions.
Why would we merge with CHK, they are bankrupt.
Merger with CHK? That comes coming up as a rumor. I suppose is may just be us left at the bar and it's closing time ... time for some bad decisions.
Who would acquire MRO? Agree with concerns about LT. Board may have a reason for sticking with him or may only be lazy. I have heard both and don’t know. KW who replaced Reggie is extremely sharp. Can only be good if LT listens to her.
I'd bet it is gone now, like all of our other employee friendly benefits.
I remember reading a Change in Control document a few years ago and the payout was about double the TAP allowance at that time. The current TAP documents make reference to a Change in Control( basically stating that to be eligible for TAP you are not affected by a Change in Control) but there is not a separate C in C document published on the benefit website. I don’t know if they are just keeping it hidden from view or if the separate policy simply no longer exists.
There used to be a CoC policy in the past. I never really looked into it much but always heard from other long time MRO'ers it made a huge impact on your pension formula (the old pension). Now with the cash balance plan I don't know if there is any CoC impacts???
Does anyone know if there is a any kind of CoC package in place? Preferably something like anadarko employees got?
Worthless speculation. There is no point to this post. Driveling yrolly
MRO Is 100% about to be acquired. (No proof, just looks that way.)
Reduction in headcount twice in 1 year.
Reduction of executive compensation.
Removal of Long Term Incentive; no more stock being issued.
Increase in stock price.
All signs point to a deal more or less in place, just need to shore up some things like headcount and outstanding shares.
I am guessing announcement between April 1st and June 30th.
All the super silly what if’s came true... sooooo what’s your point?
I can certainly see this playing out as a merger or stock acquisition by another major. MRO’s assets are, from a book value, more valuable than its market cap. Additionally, reducing executive comp, which should have happened over a year ago or earlier, is likely the Board signally to LT that he has 12 months or so to take drastic action. Given the limited leadership or value emanating from 41 in some time, no stockholder or employee should be surprised in such a scenario. My goodness, what a fall for grace for a Company that once was positioned well coming just prior to the spin-off of MPC. MBA can use MRO for a case study in how choosing the wrong CEO can bring an end to a company.
Please don't start the super silly "what ifs" on this board again.
KW who replaced Reggie helped negotiate the sale of her last company... maybe they’re setting it up to do that.