Any word?
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Lots of newer space available in the energy corridor nowadays. Closer to partners and straight shot down I10 to S.A. and Eagle Ford too. Change of executive would remove need to be nearer to Woodlands. Board may favor business need rather than executive whim.
Somewhere with cheaper rent. Schlumberger is moving it's corporate HQ to Sugar land so maybe the premier mother fracker will follow it there. More than likely it will be in the Woodlands as it would be a shorter commute for senior management and the facilities would be newer and less expensive than the Galleria area. They would not need much room when considering the planned outsourcing and the expected attrition from employees that do not want to commute to the Woodlands. Rumor is Marathon has retained ARVO Realty Advisors as they were the contractor that helped them relocate in the past.
Where would the office be relocated to realize reduced costs?
The rumor of moving the corporate office may be coming true as the company wrestles with high fixed costs. Anyone know how much it costs to lease a floor in the Marathon Tower? I am sure it is insanely expensive and will likely increase if CBRE is able to offload it to another investor. It would be nice to telecommute. I would miss the Herman Miller Aeron, but not the office politics and the commute.
Expensive lawsuits? The company is paying severance, so has anyone filed suit, rather than taking the payment?
Next announcement will come after the 2015 annual earnings call in February and mainly involve outsourcing / co-sourcing corporate shared service environments to decrease G&A costs in light of the current commodity environment and lower production volumes. Affected employees will be given the opportunity to be retained by third party contracting firms. This allows management to effectively eliminate embedded low-performing employees while avoiding costly lawsuits. The mantra of “Leadership is Action, not Position” will be reinforced during this time to remind remaining employees to focus on creating synergy and value wherever possible. Continued restacking of the tower will allow remaining employees to telecommute. Former employees in outsourced departments will be working from the respective third party offices (if retained by that firm).
Get to work and shut up!!!
What's the word? Thunderbird! What's the price? A dollar twice!