ELT has made it clear they frequent this site, so, what burning questions do you have but don't want to ask through their supposedly anonymous form?
21 replies (most recent on top)
What’s our rating for bonds? Junk?? Can we even get good interest rates on our debt!?
When P66 announced it would be selling some non-core assets, with stated intention to use the proceeds for paying down debt and share buybacks.
Instead they used the money to buy gas plants.
@ke that's insane. I didn't realize our debt servicing was so high. Crazy to not be paying that down.
When is the spending and debt going to get under control? We have a target of $17B and <30% debt to capital ratio, however our debt continues to grow and is sitting at ~$22B and 41% ratio. The interest on this debt is ~$1B per year.
The propel lawsuit is a good one. Haven't heard anything about it from any ELT member but seems to be a big hit on our trust and oeia as a company.
What are you doing to make sure things like the Propel lawsuit don't happen again? We spent over a year to change the ways we work to save $1.5B with business transformation only to watch more than half of that disappear with an ethics based lawsuit less than a year later
When are we going to pay attention to the actual operating metrics and start cleaning out RLT members that arent improving the business?
@fe, if Houston would get their head out of their butt-cheeks and let Bartlesville actually do things, rather than try to outsource everything or cut every little cost they possibly can. You might see different results...
The crude optimization program is not efficient. Can we move the program to Houston, since B-ville doesn’t want to do it? A team of professional scientists/business people are needed capture the market predict the effect of crude on the refinery.
Who approved the laughably bad role descriptions? Seriously, if you haven't, go look at the AI slop in your profile about what your job supposedly is.
@er it feels like there's room for some level of transformation less than "we're going to completely turn everything upside down every 12 months"
I'm fine with continuous improvement, but Jesus Christ, take it down a notch. Give us time to digest changes
MPC and VLO consistently outperform analyst expectations. What needs to change for PSX to consistently outperform expectations.
If we aren't actually working towards our sustainability goals, why do we have a sustainability team?
@e8 no. Mark and the ELT have been clear: BT will never end. They have said this from the outset.
I travel in my role, so I talk to people at most of our sites regularly. Despite Mark's dogged insistence that people are enthusiastic about BT, the overwhelming reaction that I get when I talk to people is one of burnout. There is so much churn in organization, responsibilities, ways of working, even the tools we have to work with. Will there ever come a time when Phillips 66 is a stable place to work again?
Be honest with us about the benefit of job architecture, from the company and employee perspective.
How has the 4/10 test runs gone and why dont we test it across the board?
Is 135 the new VCIP 160?
What is the benefit of posting new roles tied to only one sgl level instead of a range?
Given the lack of performance relative to peers, how do you expect this proxy season to go with Elliott and how will they attack us this time around?
With cost savings being claimed through BT, why do our controllable costs continue to increase year over year?
With cash that never seems to materialize from our commercial activities, is it time we think about moving on from the EVP and SVP of the commercial organization?
What are three tangible BT wins that you can cite from operations (not headcount)?
If we were to hire Greg Goff to run PSX, what are the first three changes you think he would make?
The reason given as to why hourly employees can’t have a 4/10 schedule is because of reliability. My question then is why are all the members of management that are ultimately responsible for reliability rewarded for poor reliability? It is after all management that decides what equipment is worked on, when that equipment is worked on, how that equipment is operated i.e. outside of manufactures recommendations… essentially everything that is the backbone of reliability. Why do they get rewarded with a 3 day weekend?
@ap is correct in his assessment of the current L and D organization. Its "management" has laid off the most knowledgeable and best employees in the field locations and the beefed up the organization in Houston. About all they do is tell employees to go out and learn. It all starts at the top of HR, namely Tractor Man.
@an Starting with L&D. My question would be what do they do? What ROI have they delivered other than b*tts in seats? They are a colossal failure of an org design.
Can we please reduce HR ? It’s just a waste of time with new buzzwords and ideas that have no positive effect on the actual work force.