For the fourth quarter of 2018, McDermott expects to report an adverse change in estimate of approximately $168 million, due to unfavorable labor productivity, and increases in subcontract, commissioning and construction management costs.
21 replies (most recent on top)
The executives already have been paid and do not care about the health of the company. All the cbi execs got paid and future payments for selling the company. The real question is whether MDR will go. Ack and personally sue those executives for pumping and dumping.
Just saying, it's not anonymous if you use your real name, send DD an email telling him your post ID, read out loud while you type and HR is standing in your cube looking over your shoulder, or post a selfie of you giving a thumbs up next to a screenshot of your Layoff post on FB. Just saying cause I bet you didn't know. Didn't mean any harm by an obvious attempt to f--- with you.
Post ID: @XBqYdKy-2oza go f..k yourself!
You cannot hurt or intimidate me anymore. Be careful yourself, my teeth just might be sharper than yours. You can kiss my a$$.
in Q3, DD said that MDR had the focus projects under control. DD said that we completed a thorough review of the projects, had a great management team in place, and that a write-down of $744 million would cover it. Now, next quarter, DD announces that there is another $168 million loss.
I guess we get more info on Feb 25, but I would say that DD doesn't have much credibility anymore. Phil Asherman only got away with blaming productivity for about 3 or 4 quarters, then he made a graceful exit. Pat Mullen only lasted a few quarters with this excuse, then he got a golden parachute when MDR took over. This will be DD's third quarter use this excuse. CEO's have been blaming labor productivity on these projects for about 3 years! Seems to me the problem may not be productivity, but rather a complete inability to predict productivity.
Now that's how you do it! LOL
I use my managers computer when he goes down for vaping break.
Just saying, hope your not making these post from your desktop at MDR, if you think they can't track just because it says "Anonymous"....Wait, just keep thinking that.
So I should kick the sheeps teeth out before I get my BJ?
Be careful, sheep have sharp teeth.
Hey lighten up Frances! It's BJ Friday! I'm getting a BJ tonight!
No, no. You misunderstand Think of it as a "threa-gestion".
You should consider the delicate feelings of the keystone cops who've all but ruined a multi-million dollar corporation. You b--ch and moan but do you think you coulda done as good a job ruining this company?
Anyway doesn't matter y'all. Sit back and enjoy the view. It's outta your hands.
I think the person is saying it's easy to get carried away with anonymous posts on the internet. It's rough out there. I think MDR has a good future. If you can work out a better deal, I'd suggest blessing another company with your obvious "awesomeness." Otherwise, embrace the s---.
Don't worry Ms Piggy (HR) and the lawyers will save your job, right!
Looks like the lawyers are already talking threats. What threats?
Facts are facts. What a wonderful place to work, NOT.
Careful!! . Is this a threat or a suggestion?
Careful with your comments
MDR Shareholders are Fools
Anyone who would invest in corruption, lies and deceit are fools. It is not the CEO's fault, it is the board of directors. Vote them out are lose your money to the executives. They operate off of intimidation and bulling. What a wonderful company.
Andy C, Pat S and John B you need to go. You do not know what you are doing. It is like the blind leading the blind.
Fake it til you make it, David. Hide the truth, keep on lying. You can BS it thru the next earnings call. Hopefully you can keep it together before the banks come a-knocking. Just be sure to keep your gravy train rolling.
And btw, don't give me that sh-- about d---son not doing it for the money, trying to save McDermott, trying to build something great. DD took a huge reckless gamble with OPM to get super rich. Is this 1982? Anybody so stupid to keep investing in MDR deserves to lose it. And if you didn't quit yet you deserve to lose your job too.
At least every project finishes. Hopefully the project doesn’t finish the Company.
So does DD now really REALLY think he understands the Focus Projects? Because he thought so 3 months ago. But he does now right? When was DD going to share this gem if our Fuc-us Project partners didn't spill it? Will DD respond by selling another division that all of a sudden has "no pull through?" Imagine the words exchanged at the GPLNG signing ceremony. Explains the facial expressions.
And another 25% of the company's value is gone...