https://seekingalpha.com/article/4142914-conocophillips-management-juicing-returns
4 replies (most recent on top)
I particularly liked the statement:
"Maybe its time to sell the company to someone who knows how to run this company in a leaner-meaner fashion."
Borrowed billions and spent unwisely (ouch). Forced to sell assets to pay down the borrowed billions (ouch again).
Going back to the 2008 write-downs, we've cumulatively never had positive earnings. This means all of our investments have not paid for themselves. The ELT has failed us.
Problems appear to be obvious to everyone but the oblivious (ELT and Uncle Ryan included) - not sure the current leaders have the b@//s to make the necessary drastic steps that might save this sinking ship