So after everything settles from this Oxychem sale and the debt reduction is the company better off then if they never would have purchased APC?
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@yr and you were already in the red zone. I would not ignore this if I were you.
If you're trying to enhance your IQ or otherwise expand your thinking, it's probably best to look elsewhere.
This place is absolutely hopeless in that regard.
Wasn't a young VH the french ho-n player in that band back in the early 80'sTuscaloosa music scene ?
She always nailed it when they played 'You Can't Always Get What You Want.'
Not to mention her solo on the Beatles "For No One."
IQ declining reading these posts.
@w4 One Trick Pony is a purtty good cover band.
@qy No, go back to operator of choice. From now on I shall refer to you as One Trick Pony.
Yes I do. What about grow with Oxy!
@pw Please think of some other way to be snarky. This “operator of choice” bit is getting stale. Don’t you have any other material?
@q2+1k6kgtd0x I agree, but now it is more about Buffett and BH since they still have the preferred stock with the 8%. Plus, add in the actual common shares and they basically control us. On the common share they are in the red and with Buffettt retiring the new CEO of BH might just unload the Oxy stock and move one. I think if BH ever dumps the shares it will ruin the Oxy stock price and market cap to a point someone will buy us. I think the biggest mistake that was ever made was going to Buffett to get around the stockholders. Buffett is not a nice old man sipping cokes at eating at Dairy Queen. He is a businessman that is in it for BH, and the mistake it seems is thinking he is our friend and not that businessman sitting on 300 billion in cash. Oxy BOD should of never approved the APC deal, and it could just end up costing us our jobs in the very near future. If you think Buffett or BH cares about us employees you are sorely mistaken. By the way I wish I had of loaded up on the shares under 10.00. I would of been sitting on a beach somewhere having a cold one, but it is what it is.
It is too bad CEOs cannot be sued personally for how they bring down a company.
That’s funny. Oxy is a laggard company. It will wind up like Marathon. Here’s to a decent acquisition value!
How can this situation sink Oxy. They have made it through the low oil price crisis in the late 1990’s and also through the COVID crisis where the stock was less than 10 dollars a share. The company will be fine once the balance sheet is improved. Cheer up!
How can we be acquired when we are the operator of choice?
@ke I fear you are correct. If so, it would be due to WB pressure.
Consolidation in the industry is inevitable. Maybe being acquired is the best and only option for Oxy at this point.
Oxy just (in Sep) sold some of its pipelines to EPD (Enterprise Products). Now the sale of Oxychem to BRK.
IMO, the OXY board (of which Buffett has representation) is streamlining the company's operations for an eventual sale. The $10 billion for Oxychem buys OPC time. It can continue to operate as an independent, non-integrated producer until the price of WTI enjoys an eventual, cyclical bounce -- which will drag up the price of Oxy stock. At that time, Brk will direct the BOD to sell to one of the big integrateds.
This is Vicky's legacy, guys. She destroyed the company. Of course, the media announcement when they announce that terminal buyout will sing her praises.
Rephrased question: "after this long string of bad decisions, is the company better off than if they hadn't made the first bad decision?"
As an investor - 0% is the company better off. As an employee, VH made a company that was an acquisition target into a company no one wanted to touch due to its debt. Low risk of acquisition, no layoffs, for years and years and years. All of this while competitors were getting acquired left and right and others were having multiple layoffs. Benefits actually got better during this time. So no way can an employee say the company would have been better off if not for that terrible acquisition.
It’s true you fail upward in corporate America.
VH was not going to be denied her seat at the boys club. Simple as that. When this train wreck is over, she will take her executive severance and sit on corporate boards for the rest of her life. Look at the APC bobble heads that helped destroy that company and now sit on various boards. Reward for a job poorly done....
No
Then why was this allowed to happen? The person, either male or female, responsible for this disaster should be gone. Wtf is wrong with the BOD and the institutional investors. The dividend and lack of growth should have driven these investors away from here long ago. Wtf.
Nope
Lol 10000% no.