With Mike Wirth having sold off around $80,000,000.00 (public information/verifiable online) of Chevron Stock within the last three months...how many of us believe it is a smart move to wait for the next axe to fall? When our own CEO has lost faith in this company it's clearly time to start looking to get out before there's a logjam at the gates.
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When the CEO cashes out tens of millions, it’s not ‘strategic financial planning’, it’s the corporate equivalent of grabbing a life jacket while telling the rest of us the ship is unsinkable. But sure, let’s all just wait calmly for the next reorg to ‘fix everything.
Why bother? Or what good to the world will come from such excessive wealth? Ew
@OP Those transactions involve exercise of options. The $80mm is the gross sale amount but doesn’t account for the option strike price, which is subtracted, so the net is far less. And, depending on the option, they may have been due to expire which can drive the time of sale. It’s still more money than most of us will ever see.
@ax We did the same! Besides, with Trump wanting oil below $50/barrel profit margins are going to get decimated. Also, I read that there is a HUGE glut of oil sitting everywhere and they don't even have space to store any more...and now you add Venezuela production, etc. into the mix and Voila! Disaster looming.
You can't blame him. After they made us show up and I looked around at all the losers that they have working here now, I dumped all mine.
He must of heard that this new sh-t show isn’t working out. No matter how many times we reorg things get worse.