They can’t all be gone can they?
Where they at?
20 replies (most recent on top)
@16h Amen.
@qs it was nice to see one two of them walked out the door last year.
Everyone wants to be a gangster until its time to do gangster sh*t.
@100 and midstream is a disaster. Trying to take the Wild West and mold it under a refining strategy.. good luck. The amount of investment required and technical skill development needed at those sites is unreal. You’re right, the ELT is out for optics and that alone, what’s best for the company and people doing the work isn’t “on their radar”.
@109 I have news for you it’s not just Borger…. The list is long across the RLT and goes up the chain. Blind leading the blind and are an infectious disease amongst one another. But they “know best” right? One of the biggest problems this company has is not trusting the very SMEs that have experience and knowledge. Keep the metrics good…
@100 we have a strategy, you just don’t like it. Our problem has never been about lacking a strategy. We just su-k at execution. Refining and commercial being those primary areas that don’t execute well, as seen in our inconsistent and below market capture
The Ops Manager at the Borger Refinery is classic example of what’s wrong with P66 upper “leadership”.
@ak you nailed it. Folks become parrots and puppets once they get above SG 19 if they want to stick around. The few brave folks who push back and call a spade a spade are summarily run off. It’s a fiefdom where dissent is punished with the corporate death penalty.
It’s never been about doing the right thing since about 2018 or so when Buffett / Berkshire began dumping the shares en masse, a big middle finger to GG/KM + the board & the so called strategy…….while holding and leveraging up other names in the sector. They didn’t even want the PSX chems exposure anymore; they sold PSX and loaded up on CVX to get that in another way, and also loaded up on other specialty and commodity chemical names (Lanxess, Celanese, Lubrizol). They clearly saw PSX as trash and had zero hesitation out of dumping the stock in masse, prompting PSX to scramble given being caught completely flat footed and work out a buyback to try to change the narrative and stem the bleeding.
You would think that would have caused serious introspection when such a heavyweight money manager (arguably the best ever) completely issues a vote of “no confidence” in the equity and entity. Oh no. They completely doubled down to the point GG stood up and said at a Leaders Group meeting in ‘18 and said “I’m glad that Berkshire is gone”.
Unreal. Talk about tone-deaf. The one strategy GM who realized that the emperor had no clothes strategically (a damn good leader, ex - refiner from CoP days) was summarily moved somewhere else to EE then run off when he pushed back, and the strategy manager who followed simply parroted the desire to double down on Chemicals despite an ever lengthening cyclical trough that seems to never end………and a likely next peak (whenever that happens) that likely is a much lower high than typical cycles. And still refusing to invest in fixing and upgrading the refineries.
Anyway you nailed it. It’s all about keeping and maintaining the higher than market pay at SG 19 and above; it changes all but a few very brave souls who don’t mind being cannon fodder because they need to be able to look in the mirror everyday ……… and like what they see.
Elliott is on to something here, and they aren’t going away. More power to them. There is no strategy at PSX; it’s all about what the CEO, CFO and board chair want for their own personal benefit. It’s never been about anything else as the completely pigheaded obsession with chemicals over and above anything else (other than Midstream) shows.
@qw some people has called me one too but I believe “ The Bible emphasizes the importance of working for God with diligence, integrity, and a servant’s heart. It teaches that all work should be done as if it is being done for the Lord, not for human masters.”
You need an A&M ring too. They like it when you wear that during the said @&$ kissing.
@qs whom do you speak of??
Butt kissing will get you higher and faster than any other attribute at P66.
I can tell you during my time at Phillips 66, there were many within the IT Organization who had absolutely no business being a leader.
Leaders are rare at Phillips 66. People are rewarded for their silence and compliance. Speak up? You gone!
Elliott will help reset this place eventually. If not, it will be sold off or merged when investors realize just how vulnerable we truly are.
Current share price performance almost guarantees another Elliott run at Mark and the management team.
Tribal knowledge is walking out the door daily.. AI can't replace it as much as the try
Self-preservation, cost-cutting, and outsourcing are all qualities of a great leader at P66.
Most of the truly good ones have retired or gone on to different companies. The qualities they want in a leader these days are far removed from what most people would want in a manager. The only qualification is a full-throated, enthusiastic support for BT. Literally the only thing they care about.
They’re not in L&D that’s for sure.
They are all at the sites. Keeping their distance from corporate culture. We could sure use some of them back here in houston to help maybe change the culture.
Something about our company changes people. The high pay gets to their heads and they change what they stand for and they then stand only for self preservation.