Thread regarding Occidental Petroleum Corp. layoffs

Hey folks...what is happening with the Luling CYA plant? Major equipment malfunction?

Ah yes...takes me back to junior high. Maturity is so over rated.

Correct. Oxy exec perks include Brazilian treatments, so no carpet.

Does "literally vacant" mean no furniture? What about carpet?

If the CEO office and Board were literally vacant the last three years, Oxy’s market cap would be at least $25 billion higher than it is today.

The comment about the buck stopping at Vicki’s desk is the most reasonable thing anyone has said so far. Why isn’t she held accountable for this disaster? Without the APC acq Oxy would be a $45-$50 stock today! So many employees 401k’s decimated - and the shot caller is still there? Shameful!

How quickly this went from a reasonable debate back to name calling and insults. Throw in a "never will" for good measure. Not sure what i was expecting from this site.

I'm sure more insults are right around the corner. Oh, and don't forget "oxy mo–n". That one hasn't been used enough yet.

Bottom line: other O&G stocks may get back to their highs of ~3 years ago, but Oxy never will! No chance! Thanks to stupid Vicki and Chairman Gene the mo–n and their ego-driven APC acquisition. Oscar and Cedric were rightfully fired - but the buck stops at stupid Vicki’s desk! She needs to go now!

Someone is enjoying their $5 increase too much.

LAPC here and yes Oxy’s politics are antiquated. dead weight managers are kept around to protect dead weight directors and so on and so on up the chain. We feel like we’ve stepped back in time 20-30 years. The behaviors are uncultivated and below the BAR.

I enjoyed my Oxy stock when it was $80, and have been hoping it would have caught up to at least the other Permian players by now. Oxy stock was better in July, should’ve just sold then.

@2ryz+184hrLZ5, you're trying to make the point that investors don't do what they clearly are doing. I don't think you can make a worse argument that that.

Sounds good except investors are indeed paying 30% more today for oxy stock than they did a month ago. These are real investors paying with real $$, not some theory. Hard to argue with that.

Investors invest based on growth, not based on "surviving". For Oxy to see growth, it has to project better in the long-term as opposed to the constant short-sighted projections it runs its decisions off of. They need a change of leadership.

And OPs post was vague at best. Surviving is good until the next unprecedented event. Exxon's move to layoff en masse seems severe, but based on it's internal 10 year projects, it's probably the smarter move. Oxy needs to learn to be smart. Keeping dead-weight managers who scoff at the new and adhere to Oxy politics is just dragging Oxy down. Oxy needs a desperate overhaul.

That's mostly a good argument. The problem is an uptick in the entire market is a sign of an improving economy, which is part of the reason for the increase in the price of oil (over $45 right now), which greatly increases the odds of oxy's recovery. In short, the better the economy, the better oxy's chances of survival. Even if those odds are outside of the company's control, it still benefits. Whether or not the company could be doing better or worse is a valid argument, but it is not the argument OP is making. The patient may have problems going forward, but it looks clear at this point that the patient will survive.

I don't think a slight uptick in the stock price, seeing that the entire market was on an uptick, is hardly a sign of Oxy's recovery. We'll see after the next quarterly earnings call if the investors agree with OP. Currently with the quid pro quo still in place at Oxy, I doubt a slight stock increase shows any sign of road to recovery. Oxy is just and underwhelming company.

Did OP say he was excited about the stock price or excited about no C11? I for one am glad the company is doing better financially, and will take any increase in this stock price that I can get at this point. I for one am not excited nor am I in management.

Looking back through the replies and the original post, I don't see where OP ever said he or she was excited about the stock price. If I am not mistaken, the point being made was that the stock price increase reflects that the company is in fact not headed for BK. Being excited about the stock price is a straw man argument.

EOG 54.06 CVX 94.92 XOM 41.65 FANG 45.95 XEC 38.47 PXD 109.94 HES 54.01
OXY 16.61
Oxy: Underperformer of choice! OP must be some promoted middling manager having not looked at the data. Tell me something new Oxy. And please don't give me that flow unit BS.

@1fyh+184hrLZ5 not me personally. Sold mine out as soon as I could, got a nice bunch out at 80 odd after which I shorted the stock.

But a lot of people didn't do this. And that's why being excited by "not heading to chapter 11" is a terribly low standard to deem acceptable

I'm sorry, did someone say C11 by Thanksgiving?

Ha. All the big stock holders underwater running out the wishful thinking.

@tfz+184hrLZ5 if you had/have a bunch of OXY eggs in your basket (whether you purchased them or were given them as LTIPs that eventually vested)....my friend, that was a mistake and expensive lesson. Ask Jeff Skilling.

Thanks for explaining the reason for the stock going up. The market just doesn't see what you see. Poor souls.

@yvg+184hrLZ5 just a realist. Oxy popped to 15 dollars some months ago before dropping to 8.88 again.

Chesapeake went to 77 as well; it plunged shortly after.

The fundamental issue of Oxy still remains. Rudderless leadership, no performance management metrics (BAR is just some HR b—s—) and way too much debt.

@pso+184hrLZ5 if you considered a wrecked 401k for large numbers of employees to be "just fine", then sure.

I also have some snake oil that you might be interested in

@zey+184hrLZ5, you're a real glass half empty guy aren't you. If you are an employee, can't you just be glad that the company you are working for is not headed for C11? Can we get half a smile or a subtle grin?

It's sad when people cannot face the fact that the company is going to be just fine when they were hoping for it to fail.

It's cute when people get excited by large percentage gains on small amounts.