Some of you are being told wrong . PP will remain a very important and profitable segment of the overall Baker Hughes enterprise. PP is not sold and will not be sold .
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Some of us are claiming weve been told we were sold . Who bought pressure pumping?
Wal-Mart is going to buy PP. With their price matching & rollback prices, PP will have a better opportunity to win bids. Every yard will have 30 fleets but only 5 of them will work at a time. Sam Walton would have wanted this.
Pretty sure someone knows what's in the works and that someone should let us know right now Here. Come on even the truth won't be believed. Tell us tell us.
It took 5 years for BHI management to make a profit. You must think BJs management has been running for PP for the past 5 years. BJ management was gone along time ago.
PP is making money NOW . It is because PP had a bunch of overpaid people . BJS people have felt entitled and think they know everything . Most BJS people never want to help the Baker people . Why are you posting in the middle of the day . Case in point , you should be doing your job ! Most people at Baker would love to see Tomball closed . Get on the Baker train or leave !!
Your right BJS people resist change but change has happened from BHI management for the past 5 years. PP continues to lose money. There isn't a single BJS in charge since the merger. Your right BJ was a mess but they were making tons of profit before BHI. Now PP is a bigger mess. BJ resist change because change hasn't worked for 5 years. If the changes helped and grew the business there wouldn't be as much resistance but the changes are not working.
Bring back Ken Williams for some real leadership
Why do the old BJ services people always fight change , you are BAKER HUGHES . How ever it happened the company was messed up when we took over !
Another funny comment!!! Maybe BHI management should listen to BJS people that know the business. Maybe some of the the 30 plus years people in PP know something.
If you really think BJ came begging BHI to buy them for 5.5 Billion dollars during the peak of the boom you need to find better sources.
BJ Services was not one of the best PP companies , if they were they would not have come begging Baker Hughes to buy them out. Baker has spent a tremendous amount of money trying to make PP a profitable company . Every time Baker management tries something the old BJS people and culture throws a wrench into the works . You are right Baker should not have bought BJS because BJS has stripped so much cash from Baker and now are jeopardizing the entire Enterprise . I have been with Baker for 9 years and buying PP was one of the worse decision Baker has ever made.
BJ services was one of the best company and culture. Baker injected its own culture without understanding how this business segment works. Getting dumb people from non-PP groups to oversee PP business made it a non-performing entity. So many layers, BHI is so slow in making decisions it was to happen. I will be more than happy if PP is sold... It can get back to winning ways.
Someone on here knows something.."Spill it"..this is anonymous!
So was the takeover of bjs a success. ?...s---ers
Just Pp please.
Double Bummer
Important announcement wrt PP or u mean in general on BHI strategy?
Someone has heard something surely? The word, in select circles, is announcement of importance is on horizon.
Ha ha. The last comment is funny. PP management has been BHI management for 5 years and they have done nothing but change anything and everything that BJ done. BJ services made tons of profit before BHI.
Baker Hughes needs to purge itself of all of the old BJS employees and all BJS culture . The BJS culture still prevails and is harming PP badly . As soon as this happens PP will begin making a profit. Because of this nobody sees this division as a business to buy.
Chapter 11
Wow..thats alot of stuff still possibly happening. Has anyone heard what's going down right now?
There is no way there would be a PP IPO, they have basically all but shut down the business. It's not a functioning division that can be sold as a company. Much more likely to just send everything to Ritchie Brothers and liquidate, than IPO.
Aren't you people getting tired of bringing this up again and again . Value Act wants rid of PP but Baker board cannot find a suitable partner to sell to . One of three things are going to happen Baker will be forced to divest PP ( sell for pennies ...highly unlikely . Completely shut it down OR Just let PP continue to bump along . ) With only a 1% to 2% growth in the U S economy , Energy stocks will not draw much interest for the next few month. BHI is backing into a corner on many decisions. To even IPO PP at this time like they did with BJS would be risky.