Just remember that DD has vision for a ONE McDermott scheme !
Topics regarding layoffs at McDermott International Inc.
Some employees don’t like the open floor plan because they say it cramps their privacy, but the collaboration benefits are enormous and the only reason many don’t like it is because they would prefer to surf the internet all day, which isn’t cool. ... — read more
The quality vendors and subs have gone unpaid out here where the company generates money. Apparently, the sweat dripping masses should push on so our crown jewel, OMC is fully stocked with coffee. Those of you complaining about open floor plans... — read more
Is anyone else hearing of another round of layoffs going into the end of the year? Or is it select and performance related? Seems like they're starting tearing down some old fiefdoms.
Anyone else heard that McDermott is laying people off?
There’s the door !
We need cubicles and privacy. I don’t like this new arrangement at all. They say we will collaborate better and that our productivity will go up. I say it will lead to increasingly bad moods. Of course they will tell us there’s the door if we... — read more
Once upon a time McDermott were a bright shining star in the offshore construction industry, market leaders, developed a global presence and garnered global respect. Sadly, there is no happy ending to this cautionary tale of a once great company... — read more
I hear some Wages have not been paid in London Feltham Office . Any truth Ruth ?
Marine and dive crew wages not paid for a lot of people in the Middle East many not been paid for weeks /months in some cases no information from management in Dubai or Housten, complete Lack of respect for employees.
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
There is rising speculation that Lummus bids are coming in at acceptable levels. Whether the banks let us off the hook is another matter, but it's a positive if true.
Do you predict that there will be McDermott Layoffs 2020? Any news or rumors?
To everyone but YOU! Clark Griswald would be proud.
If McDermott does file bankruptcy, what will happen to this big Cameron job about to kick off?
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
Chatterjee Fund Management recently bought more than 10 million shares or 5.6% of the stock. These guys own the second largest petrochemical company in India and is backed by Soros. Well this is a decent sized bet even for a billionaire. Will there... — read more
Leadership team seems to be turning over (SS, SA, SM). Technip cronies, what's happening? Wonder if we're about to see some even bigger changes.
Houston Business Journal reported former McDermott CFO picks up severance bonus on his way out.
Hmmm. So strange.
Isn’t there some limited amount of time before shares can no longer be traded?
Especially from the locations like Eldridge and OP where the leases are almost up anyway?
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
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
"I had the vision on how this could work." See! he IS a visionary leader...........
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
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
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
I think we're going to find out fairly soon what the other side of bankruptcy looks like. Life will go on.
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
If your company (A) was just bailed out by another company (B) because company A's projects were hemorrhaging losses then something needed to be done. If the leader of company B decides that a shift in work schedule to see if working every business... — read more
Slow paying of vendors and subcontractors. Key people leaving. No new contracts (JV partnerships where MDR is the bridesmaid doesn’t count).
Used to work at McD. Left in 2015, never looked back. Look folks, this company was the best of the world at one time. I chose to come to work there for that reason and did so for 25 years. We did some of the best offshore projects. When we... — 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
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