After yesterday's news, I believe the DCP takeover of the P66 Midstream business is complete. Almost every manager is former DCP, except the ones that were demoted or moved to other businesses. I guess this is a good thing?
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DCP people like to think their business is overly complicated and that no one but them gets it. What they all fail to realize is that it’s a basic industry that anyone with a brain can understand, they were a failing company which led to their acquisition, and with people that have no understanding of how to actually do business. Their incompetence is only matched by their unfounded and inappropriate egos. The acquisition will be the downfall of this company. Take a hard look—it’s already moving in that direction.
Let’s face it P66 likes to over engineer to not make money and DCP likes to cut corners and avoid ethics to not make money.
P66 can stomach change to make money. The majority of dcp opinions are not well thought out, losing site of actual value to a bigger company.
It seems like p66 gifted dcp 1.5 billion to stay solvent at some point within the last ten years.
This is a good thing, the way p66 does business is archaic. I only hope the DCP team can bring midstream into modern times, and way of thinking. There is a reason p66 bought DCP for their ability to make money in any and all market conditions.
Then p66 for 18 months has torn apart everything that made DCP so good. What we need is “P66 2.0” but I predict P66 proper cannot stomach.
With the latest personnel changes in Midstream, now the organization can refocus on running and growing the midstream space versus cannibalizing other parts of the company in a power grab to boost Midstream control.
B Hur was an arrogant a-s anyway. Good riddance.
Good