Key word, “Fleet”. Lol.
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Did you listen to the Oxy earnings call? Oxy is desperate to explain the upside that they "are just not quantifying yet." When you read this kind of exaggeration about all the fat Oxy imagines they can cut, you need to worry.
Sounds too "seat of your pants." Too much emphasis on sunk costs (been working on this for two years mentioned in earnings call).
I think we'll be fine with the severance. APC shareholders are happy. But this will be a disaster for Oxy and its employees. There's a reason why Buffett wanted and got 8% preferred. The financing is priced according to the risk. Risk is high. Hollub does not inspire confidence. Not enough grasp of details.
Oxy is now a petri dish with just the right culture for Icahn to feed off the shareholder unrest. Watch what happens. It will make a great book someday.
Chevron, just walks with $1B.....lol!
Sure wish Chevron comes back.. Oxy is a bully, cultural wise this is not a good fit.
Night of Long Knives.
Lol, the article, as quoted by OXY CFO at Quarterly meeting with analysts this morning, “people and real estate have got to go”. HOLD ON TO YOUR BRITCHES APC STAFF, WE ARE GOING FOR A RIDE. So, I am assuming OXY will continue to move to the old COP headquarters next to Barkers Reservoir - the same one that overflowed by Harvey? Bye bye Woodlands.
"...and obviously people..." LOL oh man this is so shameful.
https://www.bloomberg.com/news/articles/2019-05-06/occidental-says-anadarko-s-fleet-of-corporate-jets-has-got-to-go