The downward shift occurred around 1998 when we changed our focus from taking care of 'stakeholders' (customers, vendors, employees, shareholders) to taking care of 'shareholders' - it's all about profits now, it's all about shareholders now and stakeholders (all of them except shareholders) are in the center of everything. With this being said, all fundamental aspects of Chevron started to fade, while we made money, we alienated pretty much all other stakeholders and you are seeing results of this right now. No, it'll not stop here, they will continue to tighten the belt regardless of how much money we make and how much employees are disgruntled, how much our customers dislike us or how much our vendors think that we have unrealistic expectations. There are a few straightforward solutions for this but I'll leave it at this.
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They don't care about the shareholders. If they cared they would not have invested 90 Billion. They would have been able to execute the projects! One project has been a success, Jack/St. Malo. I would list the failures but my f***ing fingers will fall off from typing. Now the share holders will take revenge. ITS ALL ABOUT THE MONEY. No dividend and stock price at $70. Watson will be were he needs to be which is out of Chevron leadership and giving blow jobs in the Tenderloin District for 50 bucks and an extra 10 to swallow.
"you need to take care of everyone, your country first, workers, etc."
Dude, Chevron is not in business to make sure people have jobs. I don't know what sort of mush they turned your brain into in whatever Socialist/Marxist/Leftist college you attended but our job is to make money period. We're not an NGO, charity, Obama's stash, etc.
Chevron is a multi-national organization that employees people to perform work that increases profit and compensates them for their time.
It is a voluntary exchange, it is not indentured servitude. Chevron may offer certain perks and benefits to it's workforce, contractors, community, etc because it is benefitial to increasing the bottom line through increased sales (profit) and the attraction of better talent (efficiency & innovation). This whole "I'm entitled to a job" crap is the very thing that causes people to become slovenly pools of unproductive mush. If all you are focused on is a JOB, then you'll do absolutely nothing to advance in a CAREER. I would never hire a job seeker because that very mentality is the kind that seeks to look busy when the boss walks in. I want people who figure out that the way I told them to do it was inefficient and then develop a better process.
Sadly we have too many folks in Chevron management that are Job holders fooled into thinking they have a career. Sure they may have advanced up the chain, but they still have a job holder mentality. As a Capitalist, I believe that those that squander time & money are people, processes, and projects you need to rid yourself of because after all money is an exchange for one's time, i.e. one's life. Those that are lazy, can't control costs, or too incompetent to improve their skillset are robbing the rest of us of our lives by way of disorganization, out of control costs, and mismanged projects. In that regard we are all Shareholders, much like those that count on Chevron stock to fund their retirements, kids educations, and overall security.
It's not all about money man, it's not all about money. History is littered with dead companies that were focusing on money only, you need to take care of everyone, your country first, workers, etc.
Chevron has approximately $176 Billion in stock market capitalization thanks to shareholders' investments. They are the actual owners of Chevron.