GREAT SCOTT!
4 replies (most recent on top)
I don't understand... SLB's culture has been mobility = opportunity. Why not physically move to a state/location that has a booming industry? When a hurricane is on the horizon, two types of people remain... the unaware or the unable, whereby the unaware = stupid and deserve every suffering that heads in their direction, in fact if there's a way to discriminate, SLB should lay off the unaware as the unable will be desperate enough to make up for the extra work.
Took 6 years for banks to fail during the 80's crisis though and employment in the state went from 100k to 25k so we're in the 3rd inning. http://www.dallasfed.org/assets/documents/research/houston/2003/hb0304.pdf
It sure does. However, expect 2016 to be even worse with further capital spending and prices going even further down. It'll be bloody for all of us.