I just watched the video about earnings that the president of the company issued. He makes me sick. He’d gag a maggot.
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Whatever.
Billion dollar 3rd quarter thanks to davey’s cost cutting.
Let's just focus on facts.
McKinsey 's so called experts know less than sh-t.
Most are under 35 with little refinery experience.
At Sweeny, the McKinsey Project Manager is 30 years old and has zero refinery experience other than a similar position at Bayway.
The cost saving ideas that have been gathered by McKinnsey are nothing more than a collection of ideas previously proposed that were shot down in the P66 funding process. No new ideas, no profound ideas, just rehashed verbiage that Erfert now believes has merit, the same ideas that he shot down 6 months ago.
Then there are the other three big secrets that the public investor should know: 1) The savings identified by McKinsey is bogus, they are completely incompetent, perhaps the word is baffons with regard to the calculations they use to calculate savings. Pulling it out of their a-s, would infer some knowledge, they have none. The numbers are bogus, 2) The savings identified do not include the cost of implementing the means to save said costs, 3) P66 senior leadership will use those cost savings funds as a means to look agile, lean and forward looking but they will never approve the funds required to implement the means to save the identified costs.
It is smoke and mirrors designed to deceive stock holders and potential investors.
It is in a word Bullsh-t.
body english lol
You can tell by the president’s facial expressions and body english that he enjoys hurting people wishes he could have laid off more people. Unfortunately, he’ll get his shot at that next year.
He reduced the expected savings from transformation from 1.2 billion dollars a year to hundreds of million dollars a year. Pretty soon it’ll be 50 million dollars a year and even that number will be a lie because the true number is 0 dollars a year or even a net loss for the company.