Thread regarding Southwestern Energy Co. layoffs

@FALA75d-4leh A. Stevens who is an "independent" director....yeah sureeee

Harold Korrell brought Mueller along from American Exploration as he did many of his earlier VP's and employees. Harold Korrell brings Al Stevens from their Tenneco days, then the ball keeps rolling and Al Stevens brings in his staff from Oxy. Still trying to figure out Dewbre got in, left and got back in. Oh what a small world.

@FALA75d-qmh

"In the years to come, still in the business, I won't be looking at any applications from SWN because I know that those still there were not trained and didn't receive the experience necessary to run this business!"

Perhaps you could tell all the young, former SWN employees browsing this board your name and place of employment so they know to not bother sending you their resumes? That is unless you'd rather just remain an obviously bitter, former employee bitching anonomously on a message board. Any company who has given any hiring authority or leadership roles to somebody who comes off as insecure as you do, isn't going to fare well in the future and doesn't deserve even the worst employees SWN kicked out the door this past week.

@FALA75d-lju He is officially gone from the company. Gone from mgt long ago and gone from the BoD. He is still a large shareholder though. He is now director of a couple of energy companies in California. One of which he is on the board with Catherine Kehr who is not on the SWN board as the presiding director (b/c she is indep director).

http://www.crc.com/investor-relations/governance/board-of-directors

Korell might be the reason Kehr is on the SWN board. Kehr who, along with the rest of the BoD, is partly responsible for some of the darkest days of SWN...

Post ID: @FALA75d-qmh interesting, whatever happened to Harold Korell? Is he still in the business?

Post ID: @FALA75d-qmh well delivered, especially the point on loss of knowledge and experience.

@FALA75d-qmh "...I won't be looking at any applications from SWN because I know that those still there were not trained and didn't receive the experience necessary to run this business!"

I completely agree! I can speak for the accounting department. When I was there the only people that got promoted are those that were "close" to the VP controller regardless of experience.

Mr. Vandalay: I completely agree. Mueller rec'd way too much compensation. He probably resigned b/c he knew he could not stand for reelection and rather than risk the embarrassment he vacated. Way probably made the layoffs so that he can get reelection. Because let's be honest shareholders and the Institutional Shareholder Service (ISS) are not going to recommend Way for the board since he was part of the what 70%+ stock decline.

And what is worse is that if you go to SEC edgar and look at the 4 filings on December 8 which reflect the stock grant awards, all of the SVPs got greater shares this year than prior years. Some of that cost is expensed depending on the person's job. If anything, the number of shares they received in the grant should have declined given the substantial stock-price decline. It's ridicules!

What is needed here is an activist shareholder to come in, get on the board and force changes. Bill Way was hand picked by Mueller. Mueller was voted out by the board and they then turn around and approve Bill Way as CEO and Board Chairman. Mueller also brought in two of his old cronies that he worked with at Houston Exploration. Both architects of the CHK acquisition. An activist shareholder came into Houston Exploration and forced Houston Exploration to sell itself to Forest Oil. Shareholders made out very nicely. Being a shareholder in this company, my shares will be voted "against" this Board of Directors being retained, and 'against" Bill Way as Chairman.

Mr Vandalay: thank you for your well thought out post. Having 25 years at SWN (recently no longer there) I understand your sentiments. SWN was a great company but it lost its way when Mueller came on board. Harold Korell was invested in the success of the company. He lived and breathed the vision/value. Mueller was not a company person, appeared to not give a shit and had a holier than thou, nose in the air attitude. He never had a vested interest in the company other than his check, bonuses, options and perks. First mistake SWN made was hiring this guy! From the moment I met Mueller when he came on board, I knew we were in deep trouble.. Yes SWN is still extremely top heavy. Yesterday a lot of good employees and also mid -low level managers were let go at the expense of some high paid useless departmental directors and VPs that could have been done without. One of their salaries was worth several or more. And they were useless to the corporations daily business. Hundreds of analysts, G&G, landman, drillers, mappers, techs and others were let go. Looking at the list in retrospect, they were all the long term people that made and built the company. Many had been there from the very early days! It's pitiful that SWN did not implement cost savings to reduce their management overhead. As a result, hundreds of years of SWN corporate experience and valuable employees were disposed of and replaced by low paid college graduates that will never have the benefit of learning the business by those that built it. It's obvious that the next step for this company with a useless college grad staff is to be sold either wholly or by asset. In the years to come, still in the business, I won't be looking at any applications from SWN because I know that those still there were not trained and didn't receive the experience necessary to run this business!

SWN should have never moved their headquarters from Fayetteville, Arkansas. New management came in 1998 and wanted to play with the big boys. The new management made millions off of a company that started business in 1929. All management changed with the exception of a few. Those that had been with the company for many years prior to 1998 were sent out to pasture. It took 17 years to take the company to shambles but the upper management made their millions and moved on.

Mr. Vandalay I am sad to report there is no gas in the pipe, thus none in the tank which means $0 in the bank. Betting that 6-7 months from now more layoffs or Chapter 7 for SWN. They couldn't read tea leaves if they were laid out, and interpreted in simple 5th grade English.