We're going from future is bright to bankruptcy in what has to be record time. SEC is investigating the disclosures around Cameron LNG. I wonder if DD, SS or others will end up in jail for fraud. Whistle blowers?
Topics regarding layoffs at McDermott International Inc.
Do you predict that there will be McDermott Layoffs 2020? Any news or rumors?
Hmmm. So strange.
To everyone but YOU! Clark Griswald would be proud.
Isn’t there some limited amount of time before shares can no longer be traded?
Date Stock Price 15-Nov 0.6 Holder Shares Date Reported % Out Value Avg share prchase price Nov 15 Value Loss Loss Percentage Blackrock Inc. 27,645,245 29-Sep-19 15.20% 55,843,394 2.02 16,587,147 (39,256,247) 0.70 Vanguard... — read more
Houston Business Journal reported former McDermott CFO picks up severance bonus on his way out.
I think we're going to find out fairly soon what the other side of bankruptcy looks like. Life will go on.
I just heard about the existence of this website......This is hilarious. For the people on here who actually work with me at McDermott, they would know that our Executives just got stock bonuses. If our management team were planning on filing for... — read more
https://www.upstreamonline.com/rigs-and-vessels/mcdermott-vessel-pair-briefly-faces-arrest/2-1-705313 Upstream reports Helix obtained arrest warrents on McDermott subsea construction support vessels North Ocean-102 and -105. Warrants were placed by... — read more
https://www.wsj.com/articles/mcdermott-investors-lent-1-7-billion-without-knowing-of-sec-probe-11573603223 Nov. 12, 2019 7:00 pm ET McDermott International Inc. investors knew they were investing in a faltering business when they extended $1.7... — read more
"I had the vision on how this could work." See! he IS a visionary leader...........
Word on the street is that CB has hit the bricks. Who will lead the power projects to finish? Go hound new clients?
The DD and the board must be rich beyond their wildest dreams.
One of the largest holders of MDR stock ( AMG Managers Fairpointe Mid Cap Fund) has eliminated its position ( 6.5 million shares) at the end of the third quarter. They took a 75 percent loss. Other institutional holders are expected to follow. The... — read more
Well, at least I have a neat story to tell my kids how I got taken to the cleaners.
When you have family, mortgage and worked hard to provide for them come home only to tell them you don’t know if you will have a job by Christmas it feels like you are worthless. When you see others that are much younger who drive the company... — read more
Messaging. Told move was delayed because of punch list items unfinished. But now we find out that that the contractor stopped work because they haven't been paid $14mn. Messaging. Told that MDR received unsolicited OFFERS (more than one?) valuing... — read more
On Nov 11, DD has to submit the final plan outlining cost to finish the focus projects. I have a feeling that if this plan is wrong, then MDR goes under. So what is the latest estimate to finish Cam & Free? What about Pemex? Any hope the bridge... — read more
What a pickle they are in.
Especially from the locations like Eldridge and OP where the leases are almost up anyway?
So is it time to start taking home coffee, Creamer’s and anything else of value in leu of payment. Starting to envy those already let go with their 2 weeks severance.
For the fake post couple days before, LUMMUS has not been sold. The earnings release and no conference call scheduled should tell you something by the "alternative process evaluation" for Lummus. The potential buyer we had couple or the management... — read more
What office are you at? How do the hallways feel? Any layoffs today , this week? Any new hires today, this week? Any news? On anything! Is your boss in the office?
Fell bad for him because he got sold a bag fo c-ap from guys like P. Mullin And as Herman remember his whole crew: scorsone, Ho, etc etc... unfortunately we all have to live with the bad decisions of a small few. Gonna be hard to get a job with... — read more
You've earned it. Yeah, it's extravagant & a burden on the co but it shows how important The People really are in this New Kind of Company! We celebrate you.
Explain this to me please... Once we go under a buck, we'll get delisted...
Remember when they told us a couple of weeks ago that the move was being delayed because there were a few punch list items to be taken care of and they wanted to wait until construction was completely finished before we moved? Well, the part they... — read more
The following is based on prior events, reading the 2019 Q3 Earnings and conversations with McDermott employees. Company hires multiple restructuring firms Company secured $650M Bridge Loan (despite CATASTROPHIC terms) Board issues Retention... — read more
First time I’ve ever seen a company of this size (and high level of visibility) post earnings and not hold an earnings call. Translation: they don’t want to take any questions and they don’t want to go off script Just take a look at this from... — read more
Has all the drama scared off potential Lummus buyers or JV partners? We're in a tight spot here and people are losing faith.
November 4, 2019: "This morning we announced our Q3 2019 financial and operational results which reflected solid operational performance across the majority of our business." This was the CEO's interpretation of a sharper than expected Q3 loss... — read more
"...on the shareholders! Let the good times roll!" Q's out. Look at the line, total stockholder equity. Negative 1.38bn. & working capital is negative 5bn. I am still puzzled. Why did MDR get 300mn in equity last year? All gone now but what... — read more
I think it's unlikely. But, that's my hope. Also, I think that some of the competitors are hiring right now and all folks who were planning to jump th eship and leave McDermott may want to do it now. Good luck!!!
Here is the situation. I in top-level finance at MDR. I am even posting this from some random PC. MDR has sold LUMMUS. They are postponing earning till they finalize details. It will be good temporarily for the stock price. Shares should get... — read more
It is sad to see people you have worked with for years saying goodbye. This week has been rough.
LAYOFFS SHOULD START WITH SUPPLY CHAIN FUNCTION. THEY HAVE PROBABLY MORE THAN 30 DIRECTORS (OR SENIOR DIRECTORS). EVERYONE IN THAT DEPARTMENT IS DIRECTOR, SENIOR DIRECTOR OR SENIOR MANAGER. IT IS RIDICULOUS. WHY HR ALLOWS THIS?. IN MY NEXT LIFE I... — read more