What do you expect to hear during the second quarter earnings release?
6 replies (most recent on top)
Earnings will be OK, as they aren't investing anything in the future, and just trying to squeeze out the last $ from declining assets. I don't expect anything changing with the EM ownership stake or relationship, as EM controls the business via their management puppets without having to buy the shares. Aside from that, I'd expect a bit of mindless drawling from CEO about how valuable the EM relationship is, but no strategy other than trying to squeeze the last drops of juice from the IOL turnip before it rots away.
To the uninitiated, EM is running the show 100% today, so much for corporate separateness. Our highly paid lackeys do not have any real authority to make operational or financial decisions without first running every decision by their baby sitters back in the US. We have slipped so low on the totem pole that even GBCs push us around and get us to work for them. This is the result of spineless leadership at Imperial. EM's game plan is to squeeze every last dollar out of "Imperil Oil" to fund their capital projects and generous dividends. EM cannot afford to buy out the minority interest and why should they. They have 100% control with a 70% shareholding interest. Why pile on the agony.....
That Imperial is a model for the business community and a beacon unto the nations ⛽️
Buying out the minority shareholders will mean that half of the useless Finance function will be out of work....
I totally see XOM running the show. I mean most of us already report functionally to an XOM organization. I don’t see the point of an IOL executive LT. Huge cost savings to be had if we got rid of half the campus altogether.
They will buy out all minority shareholders and just let XOM run the show