Just happened. 20+ employees gone. Everyone left needs to be prepared. This company is about to be bought out or go through bankruptcy once again.
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I am shocked that this Laser-focused management team could run the company into the ground...AGAIN!! Ever seen the movie where the monkeys are flying the plane? With so many Directors it is hard to believe the company didn't have the guidance to know you have to have REAL positive rates of return to make money...without hiding costs of course. I feel bad for those that are still here get off the ship before the next iceberg.
The Frog is working on a new business management book called “Borrow Your Way to Prosperity.” So far he has completed chapter 11 and is currently working on chapter 7. It will be available on Amazon and sold at Dippin Dots kiosks nationwide.
Maybe the frog will borrow more money. That will help the stock price.
I bet slim jim will work his majic tomorrow and pull some strings to help the stock price.
Sure hope that stock price rebounds tomorrow. I have a new house and car to pay for. This worrying sux.
701 Cedar Lake is now 1 Dippin Dots Plaza
The Toad is selling the Castle: https://www.loopnet.com/Listing/701-Cedar-Lake-Blvd-Oklahoma-City-OK/16310080/
Chaparral corporate office will be moved to the pump house effective September 1. Only essential employees will make the transition. All non essential employees will have the option to work from home with a small payroll deduction for home office use or to take a separation package of 100 shares of stock.
More layoffs are unavoidable. I give them 45 days and this place will be a ghost town. Even worse than before.
So, should we start taking bets that the company will go bankrupt? Gutted by the new owners? Or just more layoffs of the regular staff?
How low can they go? Lol
Chapter 7 coming soon. Don’t expect much of a separation package.
Moody’s downgraded Chaparral rating to SGL-3
A rating of the risk, published by Moody's, that a company will not be able to meet its short-term liabilities due to illiquidity. An SGL-3 rating is the second least liquid rating. This indicates a company may or may not have cash on hand to pay immediate obligations. See also: SGL.
Nice first round by Mr. Clean. Round two will require much more work on his part.
Mgmt wants only yes men around. They never listen to their staff, they always boost that they are transparent but they are not! They have let smart employees go bc they refused to listen! Mgmt says “get in line” and “do what you’re told”....but the same problems from years ago are still problems today bc mgmt can’t accept that they were wrong or made an error. So the loyal, hard working employees suffer. Many stay bc it’s hard to leave when the industry is still rocky, but the few that got a small pkg this week are lucky. They no longer have to deal with the b—s— - it’s a blessing. The morale is so low it’s not even measure-able at this point. Something bad is on the horizon and all bc mgmt is too freaking stupid or egotistical to get rid of the real problems!! The stock isn’t worth a penny.
Can anyone relay to us as to what is going on at this company? How can things be so bad so quick after coming out of bankruptcy? What was learned? I’ve heard firsthand that the management is very biased and doesn’t do well with communication. I’ve been told that this leads to them not knowing of what is actually going on around them.
With them leasing from previous owner who bought back the building I’m sure everything will be just fine. How can this end well?
Captain Crunch will never pilot the ship again. Their downfall was a forehead kiss, the Dover Wolfpack Gang and random wieners drawn on windshields.
Well at least you didn’t get kissed on the forehead in front of your coworkers by a VP.
Three to four drilling rigs while maintaining a stock price that is near a delisting status... bankruptcy #2?? Or merely the second time the uppers become multimillionaires from a buy out.. must be rough Reynolds Miller Walker and Company!! :)
It’s too late to sell the dumpster once it’s on fire.
King Toad for the win. Like the strategy though you keep hiring the people from your previous company then knock them in the head in crunch time keeps you out of the line of fire.
Good thing the previous owner bought their corporate building so they can lease it to save money...
Oh They have The Toad in the office with Walker Texas Ranger playing puppet master, Red Beards arms must be getting tired..
No worries IT can do it all! After all, their heads so far up mgmt a**holes. Why even call this an oil company anymore, they couldn’t find oil if it bit them in the a–!
Any one have the drill schedule?
Layoff the workers, the people that DO THE ACTUALLY daily work....yeah but keep the upper management id–ts that can't even log in or know how to use the software. Makes total sense. This company is about to sell off assets and be DEAD!!!! Makes total sense.