Thread regarding Phillips 66 layoffs

Propel Could Cost What??

Not a lawyer, so I asked AI how much this whole Propel debacle could cost. It's a little more complicated than I thought. You need a bond 1.5x of judgement, accrues simple interest. A company with strong credit pays 1-2% premium for bond. Oh yeah and expensive lawyers. Math below:

Original: $605 million
Judge: +$1.2 billion (malicious intent)
Law Firm to Appeal: +$150-$225 million ($50 million - $75 million per year, 3 yrs)
Simple Interest: +$540 million (10% simple, 3 years on $1.8 billion)
Bond Surety: +$162 million (1.5x Bond needed to cover $1.8 billion judgement, 2% premium, 3 yrs)

Lose Appeal: $2.65 billion - $2.72 billion
Win Appeal: $312 million - $387 million

So who is responsible for this again?

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| 2101 views | | 9 replies (last March 10, 2025) | Reply
Post ID: @OP+1jnmrs686

9 replies (most recent on top)

Cheeto at the tool trailer told me this company needs new direction. Says Valero TA’s are the shiznizzel and we oughta check them out.

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Post ID: @vq+1jnmrs686

Note that all the “DEI” ELT hires are in supporting roles. Even when they fake it, the truth shines through. The same old white man is still calling the shots, but this time they underestimated the damage caused by hiring an employee based on anything other than merit. Sorry, not sorry.

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Post ID: @k6+1jnmrs686

The Marketing and Legal (Commercial) that drove this are all long gone. Bet they all got paid really well on the way out.

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Post ID: @j6+1jnmrs686

I asked ChatGPT how it would run Phillips66. Its first response is that it appears the ceo should be fired.

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Post ID: @j1+1jnmrs686

Maybe it is just me, but I do not understand all these folks claiming DEI anytime the company doesn't hire a white male for a position. It is starting to come across as a low ball excuse to attack anyone who is not a white male. Sure there are some DEI hires, but not all of them are.

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Post ID: @gy+1jnmrs686

Yes, California has a treble damages law if the act was intentional and willful and caused harm to society. I'm stunned that our lawyered up leadership wasn't aware of the consequences of their deceit and theft. The DEI hires are working out great.

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Post ID: @gg+1jnmrs686

I want to know who was initially responsible for going to Propel to begin with? Who decided to utilize their proprietary information? Who approved?

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Post ID: @d0+1jnmrs686

Don’t forget the last member of The Three Stooges, the most unethical CCO!! Surely she gave her two cents, she can’t help herself from sharing word salad. Anyone with half a brain would have told them to settle. When you blatantly did it and with malicious intent, the last thing you do is go to trial. Especially when The Three Stooges know the P66 playbook, and the number of pretend M&A targets they’ve done this to. P66 watches and then follows the crowd, they are nothing more than a grossly incompetent, intelligence gathering, copycat machine.

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Post ID: @by+1jnmrs686

Perhaps you could ask the DEI General Counsel of P66? Or the DEI Head of Litigation?

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Post ID: @a6+1jnmrs686

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