Topics regarding layoffs at ION Geophysical Corp.

Topics regarding layoffs at ION Geophysical Corp.

Ding ding ding

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 

Sad to see

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

Nearing the end

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.

Huh?

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 

Wtf

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.

Gotta Love It - CEO Departure

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??

$4,515,550

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.

by
| 976 views | | no replies yet
Post ID:  @OP+WhtukWU

Wait whaaaa?

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.

CFO LinkedIn Page

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 

It ain't getting better!

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 

by
| 1625 views | | no replies yet
Post ID:  @OP+OetKFuX

What's OceanGeo doing?

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 

Where's Brian?

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.

Q1 Results

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 

Ooops he did it again

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 

by
| 1946 views | | no replies yet
Post ID:  @OP+N5IJ5jE

Texans need your support

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

Executive Earnings

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!

Start a new thread - post a news comment, question or message:

: