Preliminary thoughts on the mro acquisition? Think we will get the synergies or did we buy a lemon? Realize it's still too early but curious about any early feedback.
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It’s true that most of the original ARCO castaways are gone, however the impact of two decades of their choices and decisions remain. The one at the top remains. We have become a soulless and vacuous mess.
Arco was 25 years ago….most of them are all gone now
The ARCO people were and are
totally inept and unqualified. Alaska being their most messed up attempt and their corruption of the Technology Group using it to further their own
pet and unimportant projects and to get free vacations.
Depends on how well the assets and people are integrated. Our track record doesn’t bode well for the future. Phillip’s acquisition of Conoco arguably ruined two fine companies rich with history and culture. The ARCO castaways took advantage of the chaos and grabbed the power. COP’s acquisition of Burlington resulted in a $30 billion write down and allowed another period of chaotic mess. Then the split into upstream and downstream further diverted attention from creating value but did allow management rank to double through the creation of two companies. Meanwhile, we demonstrated continued aversion to risk or anything technically challenging by exiting deep water, the GOA and true exploration. The stockholders haven’t been rewarded. Rank and file employees haven’t benefited. Professional career paths were abruptly and inexplicably cut short as a cast of outsider unknowns with questionable qualifications started filling mid and upper management ranks. Marathon wasn’t a lemon but if history is any predictor then the fruit will rot.