Noble is waiting until Christmas again to lay people off. Nothing like spreading the joy of the season.
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No he doesn't. Who's going to stop him? The board? The investors? Not going to happen. Understand that I'm NOT endorsing him for a job well done, in truth he's doing a horrible job. Unfortunately there simply isn't any oversight. So long as he doesn't try for multi deca millions he's golden. Beyond that he can basically write himself a check for any amount he wants. After all, he is critical to Noble's survival...
To justify the huge jump he gave himself last year. Yes, he does.
Stover and clowns don't need a profit to pay themselves huge increases.
We will have a surprise 4th quarter profit. So we can be paid, 125% of bonus target again. Guess stover will get another huge raise. 700k in stocks. Ahhhh, screw us peasants.
We all know there will be fluctuations in oil and gas prices. But that is not the reason for Noble's problems. Smart people plan to handle these times. Stover et al are dumb as rocks and greedy to boot. Bad combination in management and the board. They will layoff to pad their own pockets.
Don't blame low oil prices for the mess we're in. Market cycles are a fundamental risk that management should have planned for. They didn't, instead they've played the victim. "It's not my fault, it was low oil prices." Nice try. Truth is they were/are very well paid to plan for market volatility. Yet they didn't earn their pay, instead they over extended and placed the company at risk. Now they are scurrying to give the appearance of being in control by selling assets. Sooner or later they'll burn through the sellable bits and cycle back to layoffs to maintain the illusion they are in control of the situation. Hardly an original strategy. Don't expect accountability to catch up with them either. The board is bought and paid for and the stock holders are mostly institutional holders who are completely oblivious. Yes, pray for higher prices. It's the only thing that will save us from these dim witted idiots.
the low price of a barrel of oil might be a little bit to blame.
The board is just as much to blame as Stover.
It's going to interesting, that's a fact.
I agree, though they will do it by the end of November.
Last quarter saw Noble lose more cash, even after selling a piece of Israel.
Noble's next quarter will be even worse.
Stover et al NEED their bonus for this year so more regular folks who understand oil and gas will get cut.
Sad