Found an article that said NOV was expected to get 123 million dollars in aid. If that's correct they were getting cash while closing facilities and laying people off. How long will it be before the squander that and file for bankruptcy? It's coming. They have laid off all the doers, when you have no doers you have no income. The top will hold out, company will file for bankruptcy and they will walk away with the millions they have made.
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NOV in the uk have milked the governments furlough. Then announce layoffs where consolation will end October when furlough ends. Shame on a multi national
But, NOV CAN keep those at risk on, till March 2021. Although on reduced hrs. Where the government will top up. With limited liability to NOV.
Good for business and good for employees. Will NOV take this up ? Hopefully they will. Probably not in reality. They have made their decision to do a u turn would say they did not read the signs again.
This is not how a caring employer operates. If they could legally mount a machine gun from an upstairs office window they would.
Met with my particular VP (among the dozens of them) to whine about my position and things. When
I discussed my problems and retention and suggesting I am unhappy he LITERALLY brought up his vacation home and wanted to "empathize" with the benefits hit and tell "his own sob stories".
Haha. I'm just showing up and collecting a paycheck now and crossing my fingers I'll get in on some severance before I go.
You mean this article dated May 27,2020?
For oilfield services and equipment provider National Oilwell Varco Inc. and other companies with larger capitalizations, the CARES Act will barely move valuations, Anderson said.
National Oilwell Varco expects to file a refund claim to carry back 2019 net operating losses to 2014, which will result in a cash refund of $123 million, and expects $16 million to $35 million in refunds in the second half.
They are not paying they're creditors, was told that fed ex has a lawsuit against them. Creditors are having to wait 90 days or longer before they pay.
American Greed at its best.
If they did get that, they should return it instead of doing stock buybacks and making vacation home payments while screwing those who could use it. Which by the way, is what that taxpayer money was intended for. Not lining executive pockets. I’ll come light the place on fire!