Absolutely pitiful, this executive team is awful!
13 replies (most recent on top)
Maybe not close the Midland office, but a smaller field office would suffice.
After Alpine— big consequences were never dealt. What a Scam. And that layoff was a bit pointless in terms of stock valuations. Smh
Every shareholder should sue each member of the BOD directly for not firing JC in 2018.
Is the “Chinese gamble” comment a suggestion that Sinopec or another Chinese company is looking at Apa?
There are two problems:
The first one is to keep the JC in charge, if you are a shareholder, please vote against him.
The second one is, there are a lot of id--ts that they think working from Houston is the best way to solve the problem in Midland.
Apache needs to close the Midland office. Oh, JCs brother built that building so, I guess that is a no! No employee needs to be out there unless they actually work every day in the field. Paper pushers can do their jobs 100% from the Houston office. Houston has more than enough vacant offices to accommodate the "office" workers.
Directors buy shares with their own money, and it must be disclosed. When company funds are used, it’s called buying back shares and is also disclosed.
Noooo Donardd
Do the directors buy APA stock with their own money, or is the money used to purchase the stock advanced, or loaned, to the directors by the company?
This executive team should be embarrassed. Over 10 years the value of the stock is down from $55.63 on 5/1/2015 to $14.03 at close today which is a whopping $41.60 per share. From the all time high of $139 on 5/1/2008 it is an insane $124.97.
To put that into perspective if you held 100 shares of APA on 5/1/2008 that would have been worth $13,900 and today it is worth $1,403 for a loss of $13,497.
If you had invested that in an S&P 500 fund (fxaix) over the same period you would have more than doubled your money even with the current market drop.
How the BOD doesn’t fire these people is perplexing to say the least.
I was once told Chinese people like to gamble
That guy has nice hair
“APA Corporation (NASDAQ:APA) shareholders (or potential shareholders) will be happy to see that the Independent Director, Chansoo Joung, recently bought a whopping US$1.4m worth of stock, at a price of US$18.25. That purchase boosted their holding by 115%, which makes us wonder if the move was inspired by quietly confident deeply-felt optimism.”
Thoughts?