Thread regarding GE Oil & Gas layoffs

Incompetent GE

Just heard 100 posts being axed by GE Oil & Gas in UK. Is this to pay for Jeff Immelts $200 million package for retirement. Also Baker executives share $100 million as sweetener in golden parachute payments. They will already be big share holders getting approx $ 16.50 per share when they merge. They don't bring either subject up in any all hands meetings. One word to describe situation - obscene.

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July 2016 stock price - 32.91, June 2017 stock price - 27.01. That is almost an 18% drop in less than a year. By any stretch of the imagination complete and utter failure. How do we reward failure - give the guy who helped create this situation a $200m send off. What would it have been if he was successful ?, Everybody deserves some retirement package but this is rediculous. The whole board should resign on mass and be replaced by some accountancy graduates. Could they do any worse ?

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Don't be worried. BE READY.

You are the employee of a mega-corporation who is unable to reinvent itself. The leadership shifts, pivots and changes direction every 6 months. How can we believe what GE says when they're shifted stories on us so many times - always following 3 years behind tech trends. At this point, they don't even believe own bulls*it.

Don't be surprised. Don't be worried. BE READY.

There are other places.

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Rigs are still OK

Oil Rigs: "Not dead yet!"

A few comments from Steven Kopits of Princeton Energy Advisors LLC on June 23, 2017:

• Total US oil rigs were up 11 to 756

• Horizontal oil rigs were up a whopping 12 to 648

• Goodness knows the underlying dynamics, but apparently the rig operators have not received the oil price crash memo.

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