Thread regarding Occidental Petroleum Corp. layoffs

How the How the Most Hyped Oil Merger in a Decade Went Bust

Article posted today by Texas Monthly:
https://www.texasmonthly.com/news/how-the-most-hyped-u-s-oil-merger-in-a-decade-went-bust/

“No one seemed bothered that unlike most modern-day CEOs, Hollub was largely unfamiliar with the financial world. Chazen would stay on for a year as her guide. Anyway, Hollub was smart. She would rely on experts. She would never do anything crazy.”

“Arguably, Occidental found itself in an eat-or-be-eaten situation, and Hollub’s decision was to brandish her knife and fork.”

“Hollub relied on an in-house financial team that many saw as second-rate, entrusting the Anadarko acquisition bid to them rather than using experienced dealmakers from outside investment firms.”

“an eavesdropper heard [Anadarko’s CEO] Walker and [Chevron CEO] Wirth sniggering about Hollub like middle schoolers”

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| 2111 views | | 10 replies (last February 4, 2021) | Reply
Post ID: @OP+19c7A7VE

10 replies (most recent on top)

Did Vicki ever work out of the old Bakersfield headquarters for international? I am guessing not because although she has been with Oxy a while she doesn’t seem to be aligned with the company. The real Oxy was associated with the Bakersfield office before the year 2000 and not the Houston Oxy USA office.

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Post ID: @3vcb+19c7A7VE

Great article

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Post ID: @2ddb+19c7A7VE

OP: Thanks for the article/link.
The article doesn't say anything we didn't already know. But I appreciate that its put out their in public again. Every bit of public humiliation is one more nail in Big Aunt's coffin. She deserves it, and more.

What the article doesn't cover is the disastrous "Cult of Vicki" created within the OXY organization.
The gender-discrimination, the "woke" stupidity. The mishandling of real-estate (remember the Conoco building we bought, renovated, then parted with, within 12 months?

Any CEO has 2 "big picture" roles: capital allocation and communication. Aunt Vicki is atrocious at both of these. She is like Larry, Moe and Curly wrapped up into a single person. But Blackrock and Vanguard love her, cause she's the first female CEO of a N. American oil company...

We are living in Bizarro-world.

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Post ID: @2vie+19c7A7VE

VH is a loser
Whos the joker running the Algerian operation?

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Post ID: @2xue+19c7A7VE

A 'Vicki' is worse than a 'Karen.' Usage: That S&P stock braggard is a real Vicki,

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Post ID: @1igm+19c7A7VE

@ickb it’s “losing” not “loosing”. Chazen was working for another company when the deal was going down. Duh!

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Post ID: @1ozo+19c7A7VE

You’re the DA who kept your match in Oxy stock. Smart folks moved it into the S&P fund regularly and have great 401k returns.

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Post ID: @1sve+19c7A7VE

Ha. VH is as desperate and cutthroat as they get. If you think otherwise, you are delusional.
What a buffoon. F-ed everyone's 401K forever, put this ailing company in more danger, and was
unrepentant. Nice try to re-write history, but she's an id–t.

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Post ID: @1hjs+19c7A7VE

The article was quite critical of the deal and why it was made in the first place. If you have to go whoring around the world to sell properties and to get cash then that tells you something. Oxy was way out of their league on this deal and should have just left it alone. Who allowed this to happen. Where was Steve Chazen or the other members of executive management when this was happening. Even the lower levels of executive management should have discretely commented on the problems with this deal, even if it meant loosing their jobs. Where is the INTEGRiTY.

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Post ID: @1ckb+19c7A7VE

From an employee perspective, the acquisition might actually be a good deal if the alternative was for Oxy to be acquired. The article speaks to Vicki’s engineering focus and emphasis on a less cutthroat company culture.

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Post ID: @xba+19c7A7VE

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