I will tell you why, because they are a bunch of incompetent losers. Starting at the top. They are plagued with the dumba$$.
They think they no so much when they don't know jack. Because they think they know everything, they do not listen.
How much are they worth? I wouldn't give you a wooden nickel for them. If you do business with them you better have a group of lawyers. Just ask Reficar.
The problem is Lummus is guilty by association. When CB&I bought Lummus the worthless PC (procurement and construction) Houston came with the deal. What Lummus Houston is doing is not right. They have cost the company a lot of money. BTW, you hit the nail on the head, substitute EPC for Lummus, then it makes sense.
The only problem with your statement is that Houston is not an EPC.
Sounds like a bit of "projecting" going on by some of a disgruntled EPC guy. Lummus prints money. Flip the original post around and substitute EPC for Lummus, then it makes sense.
BTW it doesn't look like we're going bankrupt yet. Bookings up, lights are still on!
Lummus is worth $2bn but you gotta take a few focus projects and 30k reatrds that go along with them.