I keep reading about xyz companies doing this bonus and that benefits to its employees. I think COP has done so much for its employees. She is like mother feeding whining toddlers who are not ever happy. How much can she give and keep giving? Have you ever thought of her pains and panting to generate so much milk for ever so hungry kids? I feel ashamed of some of these negative people who probably will never be happy. They probably never worked in real oil and gas company. Think of this what can you do to help her generate more maybe that will sober you up, at least that’s my hope.
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Thank you HiStory for jogging our collective memories. One more memory from that critical downturn period. We sold assets on the cheap and laid off lots of people when the industry wasn’t hiring. We took the proceeds from those fire sales to pay the Q4 ‘15 dividend and then we slashed the dividend. We had nothing to show for the sale of those profitable assets other than push I guess the dividend reduction into 2016 thus ensuring ROAs were preserved for 2015. It was a poor business decision to sell at market lows but of course we seldom post audit those disposition events.
This goes back a long ways to 2015. Our “great leader” raises the dividend while prices are collapsing. In December he tells Wall Street “the dividend is sacrosanct” because everyone is asking about cash flow. Six weeks later (2016) he slashes the dividend.
Two months later he “retires” the CFO with an 8-figure severance package (ironically, the CFO was not responsible for the cash flow forecasting incompetence, but that’s another story). In May 2016 stockholders vote “against” the ELT’s compensation package (which never happens) and the lame tone-deaf incompetent response at the shareholders’ meeting is “we will take that under advisement” (nothing happens). More layoffs continue off and on even after our “great leader” tells employees there won’t be any.
So employees and shareholders witness incompetence in “great leader leadership”, finance, HR, public relations, and conclude leadership is incompetent.
We have the same “great leader” !!!
Meanwhile the current ELT and the “great leader” have to go to the hospital for hand and wrist injuries from slapping each other on the back because they got lucky with product prices and they believe the current stock price is 100% due to their amazing brilliance.
This is very simple. I have first hand experience with ELT members. I have seen them act and talk up close personally. They care only about themselves (despite what they tell you). I have seen their annual VCIP’s. I have personally been lied to by an ELT member. Numerous times. At best they are micromanaging control freaks, at worst they are narcissistic corrupt incompetents.
Simple due diligence will tell you this. Go back to the time of the split and see what they promised at the annual analyst meetings (long term) vs. what has happened.
This is why this site has so much action. The employees see this, but only a small part of this, and realize something is seriously wrong with our leadership.
I’d post details and facts, but you’d recognize me. If the company were to discover and sue me, though, the discovery process would be horrifying to employees and shareholders. I’d start with finance, HR, and employees memories at closed ELT meetings.
This is really great reading and thoroughly entertaining when read stoned. I marvel at the brilliance; think I’ll go roll another…
Dear OP,
WTF?! Freud would be proud of you.
Go back to school, get out of HR work, and set the world on fire as the next tv shrink.
That was a pathetic post. The company sold $21.2 BILLION worth of energy in Q2 alone. We are making $140,000,000 per day selling energy. We keep upping share repurchases which is a very indirect way to give money back to shareholders. Why not enrich those that make the energy production possible by a) Giving them large raises and bonuses or b) Making them equity owners in the company so they can benefit from the share buybacks, VROC, and dividends? Instead, many people watch billions of $$s go out the door to shareholders while they get a measly 4.5% annual increase last year plus a VCIP. It is good compensation, it is just limited to the upside while for shareholders and C-suite folks, compensation is limitless.
Really milk? Her? Do you work in HR?