Thread regarding McDermott International Inc. layoffs

Ciao RH. DD is so predicatable. Let the musical chairs continue.

Management, like any good rat, knows how to survive. I wouldn't be surprised if they got all the bad news out of the way so they can deliver a "positive" surprise. First loading at CLNG? Tank sale? No more charges, and we really mean it this time?

Yeah man, me too. Most quality people are gone or leaving Would really be A New Kind of Company if we got rid of everybody else. Seems to be Management's goal though.

Isn’t Cameron on Project Director 10 or so? In addition to the constant turnover of other personnel - lots of knowledge of “where the bodies are buried” is long gone.

They really know how to forecast. Just subcontract what’s left and be shocked that the costs increased. Dang subcontractors! How dare them charge for OH&P and charge us for fixing our own mistakes!

CLNG was run to the ground by CB&I management and know-all Construction “experts” who overruled Engineering and Procurement. In fact, these experts pretty much ruined every project that with their expertise. Nevertheless, all credit goes to CLNG project managers.

The $168m is ONLY the 50% share of the JV costs for Cameron. They’ve known for YEARS that they have no clue of what the final costs will. Bad estimate, bad EPC contract, bad construction management and engineering (understatement of the millennium I know!), criminally dishonest executives. No clue on cost forecasting, but in reality everyone just “kicks that can down the road” until next month or next quarter to come up with least worst forecast until the next one.

I believe Freeport will also be a huge hit as well. So, the $168m “hit” is probably like a $400m loss for the quarte once you include Freeport, Calpine and other legacy CB&I projects, plus a few McDermott projects, plus “integration costs” and “one time costs”.

Another definition of CPI = criminal perpetrators imploding or corrupt prick id--ts or...

Think you missed a few zeros.