https://archive.ph/V5lKA
How a CEO Rescued a Big Bet on Big Oil; ‘There Were a Lot of Doubters’
Occidental Petroleum’s Vicki Hollub fended off a shareholder revolt led by Carl Icahn. Lifted by rising crude prices, she now has the confidence of Warren Buffett.
16 replies (most recent on top)
She got lucky with oil prices rallying post vid.
ba-f. let incompetence be celebrated. is a book next?
lmao
So a competent CEO needs someone to protect her from an activist shareholder?
Why did they have to bring Chazen back. It is not because VH is incompetent but it is that Mr Icahn thought she was incompetent.
Vicki is CEO in name only. Buffet is in charge. His comment about her being the best leader in the industry is a joke. A competent CEO would never have made the deal with Buffet to fund the overpriced bid. There’s a reason Buffet did not bring Charlie Munger into the discussion - he was taking candy from an id--t. Vicki was, and still is, incompetent.
And a great CEO does not need her predecessor (Chazen) to come back as Chairman to clean up the mess.
Oxy, Warren and Vicki will come out ahead because of high oil prices but Icahn was right. Vicki (and her brilliant team of deputy engineers) overpaid, took on too much debt but was saved by high oil prices. Oxy’s stock is still trading lower than in April 2019. People make a big deal about Oxy being the best performing stock in S&P but that’s a year after it was the worst performing stock in the S&P….
More great investing advice below. What the heck are you people even talking about?? I understand criticizing management and pointing out management failures, but all this investing advice is simply nonsense. Stay in your lane.
Investors are better off selling their Oxy stock at 70 and putting the money into CDs and treasuries. The company does not care about the shareholders because the stock price is leveraged by oil price and has little growth potential. That is not to say the company isn’t doing well.
@ 1pmd+, purchasing a stock for dividends can be a great investment strategy for some people. Why is it putting all of your eggs in one basket? Where did you learn about investing??
Oxy made a poor business decision by over paying then lucked out with high oil prices.
Didn’t Oxy sell the LNG?
Oxy bought a Great asset base from Anadarko. Sickening that APC management didn't fight to keep the company. Algeria, GOM and onshore US should have kept APC in business. Mozambique LNG will pay dividends long term. Oxy saw the value...too bad we didn't. Good Luck!
@1nki+1iE0p1O0 This is either a troll comment or you're terribly uninformed. If you purchased this stock for dividends, you must realize it is 3-6 months from the dividend being gradually reinstated. Further, purchasing any stock for dividends is not a great investment strategy unless you're sitting on a huge pile of cash, at which point you'll still be putting all your eggs in one basket...see beginning of sentence.
If it is so great then where’s the dividend? The company has left me no choice but to sell this stock. The price is so tied to oil prices and we all know where these are going.
Good for Oxy and good for her.
Long live the Queen.
Vicki Victorious.
Forever.