Seriously, what needs to happen for our great company to rise again? I look at Weatherford and I just don’t get it . Leadership? Too much overheads?
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WFT went chapter 11, then when it got forced to restructure everyone had to fall in line and work together, get in line, work together, serve the customer, or get out of the way.
NOV has too many kingdoms of people with their own agendas.
The 24th floor of rig Technology has almost nobody with a college degree, including the president. The global president of marketing - the same. These are people whose positions in publicly traded companies require a great deal of imagination and skill to move a large organization to grow and adapt to changing market conditions.
Many great managers and CEOs have built great companies without any of that themselves, but we’re humble enough and smart enough to hire highly skilled imaginative people.
That’s not the case at the tower- yes men and insiders are promoted who are not business growth oriented nor are they skilled in the areas needed to grow a business in a changing market. The global marketing president could not function as a low level marketing professional in any company that needed a one. It’s a position that typically requires ability to analyze long and short term term market strategies, an ability to to calculate IRR. Evaluate risk, do statististal analysis, and many other things you don’t learn drawing cartoons and telling stories. You learn it in business schools. People in his position have MBAs as a minimum because there are many things you would not know without the education.
You hear a lot about “renewables”. Rather than bring in market experts and individuals who are well experienced in those areas, they stuck a few engineers together and expected new products and a business plan.
The problem as many have stated is there are a lot of BS artists in positions that affect the entire company. We’re it not for the people who do the day to day work, come up with ideas, NOV would be in far worse shape.
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Huge culture issue. Until we change the culture, we reap what we sow.
There are people in positions that have no idea how to do the job of the people underneath them. When that happens the people under them get frustrated. Morale, production, and attitudes go on the dumpster and people with knowledge leave and make other companies great. Look at the VP of mission.......
Dilbert, what was the Q4 operating profit?
that's an easy answer but will never happen because the inept people that make those decisions are the ones that need to go. i.e. Chief Elfecutive, Pepe the bean counter, Not only am I the President (rig) but also a client, among so many others.
Maybe we are heading in same direction, go chapter 11 and then rise again ?
Are we actually putting money in the bank ? I don’t understand Ebitda Vs Operating profit
After we pay all the shareholders a dividend and all the VPs, Presidents and CEO their bonuses, shares and share options - did we make any money ?
Well WFT actually went bankrupt, so the starting point is a little different.