a remark or two about the ill advised, even in the beginning, merger or buyout or whatever it was supposed to be, of Baker. Are the executive managers going to retain their jobs or even get bonuses when they were not even connected to the business environment enough to sense what was coming? For crap sake, I saw it and I don't have the information sources they do. I would never write a contract without an "out" if the situation changes and I never have been screwed. So Hal will pay Baker 3.5 billion for the unsuccessful buyout or it will pay 35 billion for a company now worth half that - AFTER THEY SELL ASSETS NOW WORTH 1/2 OF WHAT THEY WERE. How exactly do these guys keep their jobs? How can I find a job where I don't have to manage to be a manager. Never mind, I would quit if I was that ineffective. /snark Now GE, THERE are some good managers there. Hopefully they will jettison any executive Hal managers they might get shoved up their arses.
11 replies (most recent on top)
I spent 10 yrs with Halliburton ,In both hobbs nm,and brownfield tx, and again with brownfield.after Dave left and this jackwagon they have now took over,its all crashing. They tried to buy baker Hughes and failed.then they spent millions on r&d new equipment that never ever saw a job and if they did the customer hated it.now they just lay everyone off
Our company uses Landmark's ageing production software TOW for many years. This is the story that my TOW adviser and long term friend had to say.
Landmark announced retiring TOW with a new product from Petris which they acquired a few years ago. They struggled more than two years for a ridiculously low fees to implement the new application in our company. It did not work; The new product was architected and developed by a few Indians in Petris who had no experience in this domain. Arrogant not to listen to the TOW team, they thrived in Landmark under the leadership of Landmark's Indian Chief. TOW has a fairly large installed base. Many of the loyal customers moved to competitor's products. Not a single client switched to the new application; employees who raised concerns were hushed or fired. The gang survives; Kicks the can down. So much for the Senior Management and what goes behind deals.
I was transferred to Mission, from Sonora, in January of 1975, and was there until July of 1982, when I went overseas.
John Malcolm was the assistant division manager of the Corpus Christie Division at that time, and Pat Chisholm was the Division Tools Superintendent.
Was on a blender on a Frac job out of El Campo, up at Eagle Lake, and another over by the STNP , and a few over by Yorktown, and an intensifier (HT-3000) job north of Victoria on US 77.
Gdu
I probably known you. I worked in Victoria and hour too.
"Jun. You are right on the money on your post. When Halliburton did away with Red&Grey, Grey coveralls, the Cementer monthly news magazine. And lets not forget Mr. Halliburtons Flying H logo.
It all went south. Mr. Halliburton would be ashamed that this company is using his name. By the way. I was a 41 year field employee."
All TRUE. When Mr. Bill Taylor hired me, he said he had started off in the same position (BMEO) as what I was starting at.
I would like to learn the story of the death of the "Flying H" logo.
38 years in the field, including one year in Industrial Services. (AND including the time spent in shitholes like Laredo, TX, and Houma, LA.)
Jun. You are right on the money on your post. When Halliburton did away with Red&Grey, Grey coveralls, the Cementer monthly news magazine. And lets not forget Mr. Halliburtons Flying H logo.
It all went south. Mr. Halliburton would be ashamed that this company is using his name. By the way. I was a 41 year field employee.
Au contraire, Halliburton DID take it up the ass, and Dave is still in denial.
http://www.washingtonpost.com/wp-dyn/articles/A64535-2005Jan10.html
http://www.asbestos.com/news/2012/02/23/halliburton-still-haunted-over-misrepresenting-previous-asbestos-liability/
http://www.fool.com/news/foth/2001/foth011212.htm
Then, maybe I should bring up Halliburton's FRAUDULENT accounting practices:
https://www.propublica.org/article/the-whistleblowers-tale-how-an-accountant-took-on-halliburton
This brings us back to "Dave's Dream" of buying a second rate pumping services company, that has almost nothing to offer technology wise, other than winning the lawsuit over the use of 'slickwater' in fracturing.
https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=bj%20wins%20suit%20against%20halliburton
It would seem that most of these ILLEGAL activities took place with NON-Halliburton background people at the helm, the leading example being Dave.
We did not take it up the ass with asbestos. We did proper due diligence. Our legal department was good back then.
Senior management of both companies will be WELL rewarded for their efforts and peseverance , "during these trying times".
Why should anyone think otherwise, especially, given Halliburton's past history, as mentioned in the original post.
Halliburton took it up the ass when they bought Dresser and assumed the asbestos liabilities, and continued the trend when they ran Sperry Sun into the ground after putting Halliburton 'management' in control, who had absolutely NO background. Halliburton wrote off billions after Brown and Root (NOT KBR) was caught falsifying weld records at the STNP (South Texas Nuclear Project). Halliburton further showed management incompetence when it allowed Brown and Root executives into senior management positions. Then we go off and put political correctness before OUR core business interests, adding another layer or two of totally inept management.
No, Halliburton started its decline once they decided to go outside the company for its leadership, instead of promoting experienced oil field people who had started at the bottom, and WORKED their way up to the top.
Dave needs to go.
Considering all the asbestos liability we assumed, I'd say our contract negotiators aren't the sharpest tools in the shed. Couple that with buying the guar mine and the decision makers don't look much smarter. Read one article that said it could cost Lesar his job if the acq falls through.