I realized just now… any of us can do Rich Kruger’s job. This is the easiest multi-million dollar job anybody can do. This is.not rocket science people. This is just make yourself appear sharp and smart in the public eye. This is play d-mb with what is right and play smart with what is wrong, take an Exxon Mobil org structure copy and paste, cut and ruin a bunch of Albertans lives…. EZ … EZZZZZ… anybody can do this job it is just a simple confidence in what you do execution…. If you got this then you got this EZ PZ Richy Rich Kruger job. EZ… anybody can do this. How hard is it to cut a bunch of jobs, pick a dollar cost target and work toward it and see how it goes… anybody can do that.
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Suncor-ATCO Blue Hydrogen @ EDMR ($6 Billion) - Fail !
Lanzajet ATF @ Dakota Spirits ($1.3 Billion) - Fail !!
HRD Plant @ Montreal Refinery ($1.6 Billion) - Fail !!! TWICE
Also key from that article: “So much of what a company like Suncor has is its know-how. That comes from people, and there’s no way of getting around that at a company.”
Who are the know-how? It’s the workers. The further up you go the value of contribution drops but ironically cost goes up. I’m not saying these high up position people aren’t smart obviously they got there because they knew someone, and there are some smart people up there too. But who said that people at the bottom aren’t smart?
But why can anyone do Rich Kruger’s job? Because we have evidence now of how poorly the lay-offs were rolled out. And not just at the cost of Albertans careers and retirements but also there is a cost to the company. Okay you can make the argument the business is in trouble but Suncor is far from that, or because we can’t say that then we have to make the business case because Suncor is jealous of CNRL that’s a more valid reason? Okay maybe do a smaller scale, or cut off the fat. But in this case Suncor cut randomly the meat and left like most of them the fat? We have all seen and witnessed it. Anyone can roll out a failed mass lay-off across an organization like that. Too bad not anyone is selected for a job like that. Oh ya, it’s all about “winning”. This is what “winning”, is all about it’s for the “people”.
Freddie wants more money at the expense of other people. Greedy . I don’t know how 2024 will be for Suncor. Looks concerning
Three years ago I accepted a position with Suncor that paid 82% of my previous salary elsewhere. I came close to turning down the position but was convinced to take it because of promised RSUs. The first payout would have been December 2023. Shame on me I suppose?
Let this be a lesson to potential future Suncor employees. Get your cash up front !!
Suncor stock is stuck around $40.00
WINNING !!
These “PEOPLE” are just Elliot Activist Investors small stake getting their BOD members attacking a lagging stock and its people. 95%+ of the shareholders whether owned in index funds or pension funds won’t even notice a difference at all. It would amount to little more than shuffling money around in the Canadian energy sector if anything. Very little outside investment will come in. Warren Buffet the great even sold his stake off in Suncor so what does that say.
Those people (investors) will notice negligible difference. But what has been impacted are the people of Alberta, and Fort McMurray which is an important community for both Suncor and Syncrude.
This article explains it:
https://globalnews.ca/news/9742980/activist-investors-employees-collateral-damage/
As per article quote:
“activist investing can be risky, as it can sacrifice long-term value — and vital human resources — for short-term share price appreciation.
“We’ve seen over and over again that when companies aren’t paying attention to their people and how they manage and develop their people, then we see skills gaps, labour shortages, and safety risks.”
“PEOPLE” referees to stockholders not employees.
Oh let’s all not forget what he said about coming back and out of retirement. He’s not doing it for the “MONEY”, he’s doing it for the “PEOPLE”!
That’s right, this is for the people, not for the money.
let’s not forget about that!
So how much money does one man really need? Freddie told us how he was enjoying life by the pool in Houston before being “lured” out of retirement. Calgary is a winter city. Why on earth would one be attracted to return except for the cash?
Honestly? When I really think about what he did , I am d-mbfounded at how simple
and easy his job is. It just doesn’t make any sense how somebody can be paid millions of dollars for such a simple copy paste job….
Well… we have to all realize he’s just a human… no better than you, no better than me… well humans at a lower level making a mistake, it’s a small mistake. If a human makes a mistake at a high level, then it’s a really big mistake! Any mistakes at his level…
They are really big!