I've been at Noble 4 years now
It was good when I started but once GAP was brought in good science gave way to geo fantasy
My observations
At the end of 2015, shares of NBL sunk to $25 from previous highs of $75 in 2014.
In 2015 Noble had 2 massive layoffs and overpaid for an already floundering company
Dave Stover recently gave himself a raise of $2 million dollars from $5.3MM to $7.2MM
Congrats Dave and crew
Sam Noble must be turning in his grave
Initially with the senior management change in 2002, it appeared the company was on the right track. Instead, it was riding the momentum put in place by the hard work and dedication of prior employees The new management began small with the dismissal of long term employees to "gift" jobs to old friends and key "yes" men. To further make the company their own, they changed the name of the then 70 year old company from Samedan to Noble Energy.
Quickly the company became an unlimited ATM for the Operating Committee. Directors were there for the perks and inside tips, not to monitor management. Major decisions were a matter of ego rather that sound judgement.
Noble Energy once took pride in its heritage. When Mr. Lloyd Noble separated with his partner in 1932 to found Samedan (named with family pride to honor his three children, Sam, Ed and Anne) he had the choice of taking either the equipment or the employees. He chose the employees.
The current management continues to choose the employees. Only now its limited to the upper elite.
I'm a major stockholder and not an employee but I watch this site to get an inside read on the company. I do not like what I see. Several of us are watching. The worst of Noble's financial issues are NOT due to product prices. Too many bad decisions, too much debt, too much stock issued, bad partnerships, bad company buy with Rosetta, bad calls on international projects, too many getting salaries they don't earn, and I see comments about management conducting personal businesses on company time. I see that no management was laid off and I believe lots of management have a lack of expertise in industry, and hired because they are someone's buddy. Next layoffs must include those who put the company in this bind.
You can report them all day long but if you don't have proof, it's dead in the water with the SEC and Noble mgmt knows this. The Board should replace him but will they do any better? If they select from I house? Buy gold.
The problem is we believe there are rules. Essentially there are no rules. At this time the SEC and DOJ don't care and the game players know it. Many resource players pushed beyond the limits. I believe the SEC has been told to stand down. Actions could be catastrophic for Wall Street.
The insider stock transactions during the last 10 years are beyond belief. Above and beyond the others. Hundreds of millions. Another wealth redistribution company courtesy of Wall Street. Employees have to realize they are along for the ride because that's all it is.
I think it is the time to report Dave Stover and his cronies to the Justice Department, US Securities and Exchange Commission and Wall Street for insider trading, wrongful termination of employees, and falsifying of prospect resources size? Any comments/suggestions?
Let's be honest. Stover blows. We all know it.
Stover is one sick son of a bitch. One day he will get his payback
Dave ought to be fired and his cronies with him. How many jobs could have been saved if he was paid only what he is worth and that is a big fat ZERO.
Your sentiments are widespread throughout Noble. Just waiting for things to improve so they can leave.