If everyone at COP took a pay cut you could have more people employed and not have to worry about losing your job....
I don't think the folks at Surmont would like taking a pay cut after the long and hard day of work they are all doing
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BP shareholders revolted on their CEO compensation. I guess there's a glimmer of hope.
92% of the VCIP, RSU, and stock options value this year went to the roughly 100 members of the Leadership Forum. These losers have run this once great company into the ground. How about we cut this excessive compensation of these losers and while we're at it, fire them all?
Just too many people. Not of enough value-adding work. Some just have to go. Pretty simple.
I would have taken a pay cut no problem
The pre-split shareholders who have retained the allotted PSX shares have benefitted from the split. Pre-split COP shareholders were allotted 1 share of PSX for every 2 shares of COP. On the first day after the split on May 1, 2012, PSX traded at $33 per share and COP traded at $56 per share ( 1 share PSX: $33 plus 2 shares COP: $112 equal $145). Now PSX trades at $77 per share and COP trades at $48 per share (1 share PSX: $77 plus 2 shares COP: $96 equal $173). During this period, PSX increased dividends whereas COP drastically decreased dividends.
Am just not sure what the compelling reason would be to own COP. There are better run pure play upstream companies (EOG & Pioneer). There are higher dividend paying oil companies (XOM, CVX, Total, Statoil, BP....). Where does COP fit? Why would COP be preferred to alternatives?
You guys change your tune so fast. When to company split everyone had nothing but good things to say. Drillers will drill
Shareholders demand a company make money not employ people. COP has embarked on a much needed asset divestiture program. As a consequence, there will be a significant reduction in head count. The concern is that after the Lwr 48 & Canadian asset sales and employee expense reduction, COP will be heavily dependent on unconventional shale plays in EF, Bakken & Permian-Delaware. All three have been non-commercial to date on a cumulative cash flow basis. It is unlikely that COP will be a competitive investment in the energy sector. By many measures (dividend reduction, share price decline, lower production volumes, lower reserves,reduced CAPEX outlays, increased debt, reduced employee count, low morale) this company is shrinking rather than growing. How the ELT has been allowed to remain or how the BOD have allowed the ELT to remain is troublesome. Am concern the asset sales and layoffs will continue. Something more structural is required.
Agree in theory. In reality, the cost savings just get used to pay executives an extra million to compensate them well for screwing the company.