I support this!
No need for my dividend and stock price to fall further for the sake of 10,000 unnecessary personnel.
Time to run more efficiently and get that stock price back to the mid-40's.
6 replies (most recent on top)
I worked for Amoco for 25 years in the Chicago Office. Amoco was supposed to merge with Mobil (Standard Oil of Virginia) but the CEO of Amoco could not work with Larry Fuller (CEO of Amoco) so Amoco settled on merging with BP. What a huge mistake. Security had to escort John Swearingen for the building he was so upset.
I worked for BP for 3 years and retired with a very nice severance package. I came back to BP as a contractor for 12 years and I loved it. I have been away from BP for 5 years and now work for Amazon.
I had been with Amoco/BP a combined total of 40 years and I can honestly say BP's management has gone from dumb to dumber. The oil industry is slowly dying and if you are in your 30s please consider another industry. Your family will thank you for it.
When BP took over Amoco, Amoco's CEO explicitly said it was about "shareholder value". Of course, cuts, site closures (including BP pulling out of Cleveland), and near-elimination of the Amoco name followed, despite promises to the contrary.
Companies that create shareholder value through real sustainable growth do NOT need a dividend. So the fact that BP needs a dividend to retain shareholders is basically the BOD admitting the company doesn’t create value. ... And when a company has to BORROW money to pay the dividend???
Companies that create shareholder value through real sustainable growth do need a dividend. So the fact that BP needs a dividend to retain shareholders is basically the BOD admitting the company doesn’t create value. ... And when a company has to BORROW money to pay the dividend???
Hahaha ... during the employee call on Monday someone asked if BP will cut the dividend. Bernard’s answer s—ed. He mumbled something about a lot of employees being shareholders so it is to our benefit to get a dividend. Then he said the dividend is the BOD’s decision and they review it every quarter. Then he awkwardly changed the subject. Whoever prepped him for the call dropped the ball.
Hi Bernie....didn't know you were on this website?