If you know, you know
In all probability, the doors will probably be ordered to remain open by the bankruptcy court until most of the debits have been paid. The unfortunate part is, the executives will bail out on golden parachutes while the workers have to work off the... — read more
How many companies has the Dear Leader helmed as they nosedived into bankruptcy court? Is this the third or fourth? I’m losing count.
To nobody’s surprise, ION disclosed they missed the December debt payments. Step #1 on the way to bankruptcy court is complete. This isn’t just a train wreck - it’s a train flying off the tracks into a flaming dumpster full of dog turds. — read more
Have to hope the insurance pays out to cover the ransom payment. Just think of all the preparations and upgraded hardware and security that could've been bought for a few big fat management salaries!
Blowout quarterly results but CEO says it doesn’t remove the going concern warning filed last quarter. Ion is doomed for sure. Last one out turn off the lights, unless the electric company does it first for non-payment.
Regarding today’s news, the only logical buyer is TGS purchasing ION for the data library and then cutting loose 80-90% of current employees. Glad I got out when I did. Good luck to all still stuck in the circular firing squad.
I’m getting a little desperate because I haven’t been able to get out of here for months. I think this company knows that and uses it a lot. They set expectations that are unrealistic to meet, put extra pressure and literally squeeze people. I'm... — read more
Stock price heading under a dollar, thought it was bad under Hanson but new management has buried ion for good. No way they survive in a world that wants/ needs to eliminate fossil fuels
Going concern warning filed with SEC. Sad. Will ION last even to the end of the year…the only way is to start selling off parts of the company. A once great place to work is halfway in the grave thanks to a succession of mo--nic executives.
Post below is super weird but I agree the company is focused on the wrong things. Please allocate more money to the R&D budget and less to diversity initiatives. Our software sucks major ba--s and we are losing work to competitors because of it... — read more
I'm glad the executives have found the time to concentrate on the real problems facing our company, like the fact they think July 4th is a fake holiday and it's a microaggression for white employees to not see color (???). The link they provided to... — read more
CEO patting himself on the back for taking a 20% pay cut while furloughing lower-level employees who actually earn the money to pay his salary...can upper management get any more tone-deaf and out of touch?
survived all downturns in last 10 /12 years - this one is too much - it’s over
I'm honestly curious because the people we lost this week were some of our best people. I'm just wondering what kind of a genius cuts those who are most productive and have the most experience and leaves some of the most useless leeches we've ever... — read more
Not quite sure what the criteria is for getting laid off, but wtf? Company seem like it’s nearly dead. Best of luck to them all.
Gone with 48 hours notice. But has been around for nearly a decade presiding over a massive decline in the stock price and the fortunes of this company. Should we be asking why such a quick departure, or what took the Board so long??
It seems that all of the employees here must be pretty happy with their jobs and pay. No matter that the stock price is way down. It must be nice to work at Ion.
That is the amount of cash paid to Brian and his buddies last year. The BoD should only use stock award to compensate Brian for his amazing leadership.
Moody's has removed all coverage of Ion Geophysical. So, what exactly does this mean?
Heard jim was available and the board liked what he did with the denver seismic group
So ION raised $47million to pay off $28million in debt. I sure hope the other $20 million goes to the employees as raises and cash bonuses for their hard work and perseverance through these tough times.
To concentrate westerngeco on processing and interp. In my opinion they can’t complete with ion on imaging - we are next level on quality
Maybe we sell to Schlumberger?
Why is the stock price rising so rapidly? Have they sacked the Board?
Rumor from the 1st floor pushing stock price up?
Q2 results show we will blow the rest of our cash by Christmas. Time to close the door and find something else to do. Management here s---s.
Would someone in management please tell Steve Bate to update his LinkedIn page to show ION as his current employer? Maybe a more professional photo also. He never updated his listing after Brian rehired him to replace Dave Moffit, or his promotion to... — read more
ION has 45 days to come up with a plan to get the market cap back up to 50 million within the next 18 months, or face delisting. Manipulation of the stock price using a reverse split will not help this time... — read more
3.65 stock price! Div that by 15 to get to the true price - ION did pretty well surviving the carnage up to this point but I don't see them surviving the next wave of sub $40 oil that we seem to be headed to. Probably time to start laying off more... — read more
What the hell is going on with OceanGeo. I see they have employees jumping ship, a CEO with zero charisma or personality, and no sign of any of the promised contracts (Nigeria, Brazil, etc) how long is Brian planning on keeping this failed experiment... — read more
Nodes? they couldn't even make waterproof land boxes. Now what happened to the game changing Firefly? Vibe? Calypso? Aram? Scorpian? GMG? GXT? all fubar, the only ones that have a hope after Chap11 are CSL. Uncle Bob and Cousin Brain have screwed all... — read more
OceanGeo failed a long time ago, but there is a plan. New magic nodes. Not like everyone else's nodes. OG nodes will be better, because they are a fantasy of Brian and his friends. Magic fantasy nodes from OceanGeo, are simply better in every way in... — read more
Really, I mean, ever since the earnings came out I haven't seen him in the office. I know he is allowed time off, but with a failing business division (looking at you OG) he'd be in the office 18 hrs a day.
Looks like the Q1 results make for good reading. Enjoyed reading Lyin Brian's observations on The OBS market, all complete and utter lies of course as Oceangeo doesnt even have the equipment to be viable bidders on any jobs. Company is screwed and... — read more
Well done our illustrious leader the CEO. See you and you buddies all got more money to live off and we still have a 10% reduction. How come you've achieved zero as a CEO but still manage to take a bonus of some sort each year. Most companies set... — read more
Hi Brian, Please help pay for our new quarterback with frequent visits to our games this season. Forget profit, cash flow, investing wisely, looking after your loyal employees. We need your support. The Texans
According to: https://www.macroaxis.com/ 73% ION Geophysical Corp. will go bankrupt. Check it for yourself.
Executive compensation details are out. Looks like the people at the top are not being affected that badly by the downturn! 3rd year in a row the CFO's total compensation has increased while the profits decrease!