Thread regarding Saudi Aramco layoffs

We always said they can be depended on to fail to meet commitments every time.

https://oilprice.com/Energy/Energy-General/Saudis-Officially-Call-Off-Aramco-IPO.html

My dreams of a “big short” have evaporated.

Won’t happen. The team hit a mental fog bank, lost focus, got confused, forgot what they were doing, lost count, and dropped the IPO.

Just do it already. No one has the cojones to tell the man 2 trillion was a little bit optimistic.

Might have to cut back on yachts.

It was confusing. Also too much hard work.

https://www.bloomberg.com/news/articles/2018-07-07/saudi-aramco-s-2-trillion-zombie-ipo

The IPO that was the salvation of the kingdom and company really isn’t important anymore.

Hurry up and list already. My early retirement plans are becoming normal retirement plans.

New rules: before Aramco IPO the market rules are being changed to prevent sellers from dumping the stock 😂😂😂

Now why would a special set of rules need to be in place to stick investors with shares of Aramco stock if the sellers didnt know ahead of time that the shares are worthless from the beginning?

IPO is a failure. It's a go on the local exchange, where every single investor has been screwed over.

The new date is "sometime 2019". What's the problem? I think it is because there are no actual books with no actual cash flow and because Aramco has not admitted that they are responsible for providing for the energy needs of twenty million lazy freeloaders and a few thousand "mosque custodians" who skim billions from the company leaving the company with nothing to invest either in their facilities or their employees.

"Custodians" robbing each other depending on who's carrying the crown doesn't halt the skimming, it just moves the skimming to someone else's hand. No investor wants his wallet skimmed, and Saudis aren't really known for paying their bills or paying them on time.

This is what is going to actually happen: By the end of summer 2018 so much of Aramco's talent will exit that it will seem like the Gulf War all over again, leaving the dull normal 83 IQ retards in charge who have never actually done anything for themselves stumbling around wondering what hit them.

In the meantime: It's drill baby drill at home and nobody is going to miss Saudi oil. Saudi Arabia will sink into history as a failed experiment in turning inbred cousin-breeding fanatical religious nutjobs into civilized members of global society.

"letting women drive" and "letting women into stadiums" and "letting people watch movies" is a pile of sht that doesn't even get the inbred nutjobs to the starting line.

IPO is a go.

Probably jail, fine, and deport them for protesting about it.

Shorting saudi stock based on their ability to keep commitments is a home run. This company needs to get listed ASAP.

Headline today: 6000 Mashaer staff unpaid for 6 months

Nobody from the "Makkah Development Authority" has been held accountable yet.

Nobody wants to invest in Islamic Slavery saudi.

Don't come back in here with your bullsh-t fairy tales.

😂😂 Very true

I pray every day for a successful IPO on a reputable stock exchange. The money to be made shorting this stock will be a once in a lifetime opportunity.

The investment community really isn't interested in Saudi Arabia anyway. Emerging market status for Kuwait, UAE, Qatar makes them more attractive investments. It's quite evident that Saudi Arabia will not join that group this year and probably next year either.

Accounting seems to be an insurmountable challenge probably because company looting, graft, and corruptionis an ingrained part of business culture and investments into such a culture are not safe investments.

Weaponizing oil was a huge miscalculation resulting in planned and executed worldwide shift of energy dependence away from saudi oil. This shift is permanent and irreversible leaving saudi arabia only one choice: change or die out. It appears they have selected option B as they have chosen to engage in trade wars, destabilize neighbors, and actively drive out anyone operating or running or working for businesses who are not saudi.

So let them solve their own problems and leave non-saudis the choice of investing elsewhere. If non-saudis are unwelcome so is their productivity and money. They are running up a list of failures so long it is impossible to count or discuss but one thing is certain: a saudi cash shortage has definitely resulted in a decrease in global terrorism and instability so leaving them to solve their own problems and pay their own way seems to be the best path to eradicate the extremism that originated there.

Delayed again. What a disaster.

Foreign exchange reserves falling again. Since so many people are leaving this year I wonder who they think they will collect from this time?

https://www.google.com/amp/s/www.cnbc.com/amp/2018/03/04/saudi-arabia-reform-efforts-aramco-ipo-may-be-complicated-by-fed-rate-hikes.html

There's a one-two punch combo. It's going to be a rough couple of years.

Seems the IPO Is less important than drawn out discussions and announcements about the IPO.

Everyone on the planet who can read and write knows you're lying.

Nobody was held to account for aramco employees and their families burned to death in substandard housing that aramco placed them in and nobody is held to account for tens of thousands of stranded workers in the kingdom and nobody is held to account for missing, abused, and tortured household workers either.

You can neither hide nor deny these things.

You’re delusional. Speaking of those you mentioned detained at the Ritz is now leading the Saudi delegation at the WEF.

You can’t make this stuff up.

That’s not the case at all. Embassies interact with authorities to get final exit visas and erring sponsors are brought to account.

One thing we all learned early: lying is an ingrained part of saudi culture.

Which is exactly why the referenced IPO is doomed from the start.

He’s clearly lying, or just naive. Probably both.

You are lying about sponsor accountability when foreign embassies routinely have to negotiate for "exit passes" for starving, stranded workers that sponsors failed to either pay wages to or provide exit visas for.

India, Pakistan, and the Philippines all had to evacuate their workers. Nobody was held accountable for that. They left with months of unpaid wages and no end of service benefits.

If your system allows a worker with no renewed iqama and no exit visa to be trapped for even one day then no matter how many princes rob each other you still have a system that exploits workers. If you treat workers well you do not need to trap them. You do not and never have.

The vast majority of your "illegals" are holding expired iqamas and no exit visas. They and not the sponsor who failed to issue them exit are the ones fined and imprisoned. We were buried under news stories about how many "illegals with expired iqama" were rounded up but never heard of even a single one who had a valid final exit visa and decided no they want to stay. Each and every one has a saudi sponsor who failed to meet the obligation to exit them yet there are no, zero saudi sponsors sharing the prison cell with the "illegals".

Sharing a cell is accountability. There is zero, none, accountability for this in saudi arabia.

Princes and Billionaires rounded up for corruption, sponsors hauled through courts and yet we have some hero of chappaquiddick wanting to claim there is hardly any accountability!

You’re FOS....there’s rarely any accountability for saudi sponsors accused of abuse against their own, and especially towards others.

Seriously, stop trying to compare yourself to us...you’re not on the same planet by any measurable.

Abandoned workers in Saudi are the same as abused workers in the US. Difference is in Saudi the sponsor is held to account.

I thought dairy cows were turned into dog and cat food.

The saudi is trying to pass off GainesBurgers as fine dining? Even I wouldn't go that far but since he already said it.......dam

Now i'm hungry. Time to hit Dairy Queen for a burger.

Hey Saudi guy - are you going to answer the question about abandoned workers? How about abused and mistreated workers trapped in your paradise with the exit door locked? No comment?

Utopias don't need a locked exit door dude. Why you need to do that if those people want to stay?

Saudi Arabia has no tourists. Only "intending tourist visas".

This has what to do with your milkburgers, "illegals" of your own making, and bankers flying in to "discuss IPO" but flying out with signed loan documents?

Your record must have skipped again. You must have realized that a fine dining discussion from a place that imports 80% of their food was not going to end well? You were right about that. Non-saudis ALSO feed you. Soon they will also water you. I don't think you see that coming. Egypt didn't and neither did Syria.

In the meantime our economy is actually overheating. In fact, the entire world is in a growth cycle. Except for Saudi Arabia. You're in recession. A recession that will, by midyear, be pretty painful. You don't see that coming either.

This IPO will be a disaster. One of the reasons I split. You probably want to get off this site and buckle your seatbelt and figure out what next. There are some hard days ahead and the pool of expats you think will pay your way out of it are disappearing like smoke leaving the budget gap, like our public debt, squarely placed on your shoulders. It's only just starting.

A lot of articles do actually support my comment and so few articles your comment. So I am pleased we agree. Here is another article you might enjoy https://www.msn.com/en-us/money/markets/the-us-economy-has-a-foreign-tourist-problem/ar-AAuNQOr?li=AA4Zjn&ocid=spartanntp

Not my fault so many articles about that fill your papers. Reading them was your idea.

True they're edible. The beef in the discount section has to come from somewhere i suppose

These fantastic burgers you coordinate the making of - dairy beef burgers?

You clearly do not read the majority of stories, but just cherry pick the news you would prefer to read. Yes dairy cows are also used as beef when their milking days are over. Ask a US dairy farmer.

I was looking for a story about overstayers but the paper was full of stories about workers abandoned all over the country by saudi business owners who declined to give them exit visas. No room in the paper for anything else. These people who are so desparate to get home must be your "illegal immigrants?" Or are they the ones that saudi business owners just fail to renew iqamas for (and also do not allow them to get exit visas)

Breaking news about a non-saudi raising your food for you is as redundant as news about the millions of non-saudis that have to cook it for you.

Your record skipped again dumb--s. We were talking about beef? Your local beef comes from a dairy farm? No wonder it tastes like sht. All this time i was thinking it was because the (stunner here) non-saudis who butcher it for you just didnt have clean water to wash their hands.

http://www.agriland.ie/farming-news/first-hand-experience-on-saudis-largest-dairy-farm-almarai/. Fell free to read a newspaper about Saudi overstayers, illegal migrants, etc.

Discussing burgers with someone from a country with no cows is as meaningless as discussing immigration with someone from a country with no immigrants.

Saudi's always looking somewhere. Anywhere. Except of course in their vast untapped pool of highly educated highly qualified unemployed Saudis.

Discussion of odd jobs with someone making a union janitor's salary is very confusing

Not sure what French food has to do with your lack of fine dining options.

You see a declining empire, yet your country is hell-bent on listing in our stock exchange above all others. Why is that?

I suppose I’d be resentful to if my country’s common practice was to pay expats x4 more than me. Luckily, it’s the other way around though.

Thank you Saudi Arabia.