Another reflection of the lack of leadership and/or vision at COP. The "new" COP sure does like looking at the backsides of their competitors!
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This goes further to show what COP "management" is all about. Spend hundreds of millions on new buildings, while the company is laying off 16% of its workforce and paying billions in dividends, despite having $30 billion in debt, only to sublease it the following year. This is kind of like the GOM approach. But the really sad part is that these clowns are the guys who are supposed to lead COP through the downturn. What will they do next? Maybe set up a PowerBall BU. Have 20 "experts" run simulations to predict Powerball #s, 5 managers, a few safety and environmental professionals. I'd be willing to bet that the Powerall BU would have a higher ROI than quite a few other BUs.
No it means that things are so bad in the sh**ty new ConocoPhillips to the point that Ryan is switching to Realestate business.
No, it means they are trying to lease out an empty, unfinished building that won't be filled with COP employees.
... there are two buildings right. Does that mean 50% of the L48 are getting cut?
1st deal fell through.