Thread regarding McDermott International Inc. layoffs

Will We Survive

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 quite a lift at earnings release.

The future? I would not stay a long term holder. I think the same thing will happen again out a few years and the next time they will have to go through BK. They are now trying to layoff and clean house but maybe to late for the long run.

Hope this helps people out there

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Post ID: @11OdEx0G

14 replies (most recent on top)

"I am even posting this from some random PC" is something someone stuck in 1995 might say. Since we use laptops at MDR - none of which are just lying around - OP's post sounds like a concern troll trying to monkey with the stock price.

Now why would anybody do that????

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Post ID: @11OdEx0G-3dzx

Usually there's all sorts of insider trading before word leaks out, so either this rumor is false or the price already reflects the news. Or it won't fix the company's mismanagement.

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Post ID: @11OdEx0G-1tef

I am just a low-level contractor for Lummus that has been with the company for 3 years. I can tell you this, a few days ago they have been telling everyone to put all procedures and processes in writing for a possible transition (the company being sold is what I am thinking) I am not sure if the whole company is being sold or just the Lummus division. Everyone in the last few days here has been more upbeat. Hoping for the best, I am sure we will all know with a week or maybe even Monday. GLTA

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Post ID: @11OdEx0G-nty

CVX would make sense. They might worry about who their new partner would be.

But this is like selling your house so you can pay off your credit cards.

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Post ID: @11OdEx0G-bcy

A bit early in the process for such news to be coming out, but definitely plausible. We'll know soon enough. Very positive and a lifeline if true.

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Post ID: @11OdEx0G-kxi

Yeah the poster in here is full of sh*t. This stock is going to tank even more

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Post ID: @11OdEx0G-eua

Good luck with that.

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Post ID: @11OdEx0G-wac

until they don't fix the debt, this stock is for gamble only, in few weeks it will be under 1 after few good news. except they sell lummus which is only they know how much is worth it. i think minimum 1 year this stock for gamble. just my view.

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Post ID: @11OdEx0G-cud

The first tip to this poster is he can't even put together a sentence and spell - "I in top level finance" so doubt he is in top management.

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Post ID: @11OdEx0G-zek

I have heard similar things - if that is true my remain company shares will be worth at least $6.

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Post ID: @11OdEx0G-qyh

I am hearing they are working with Chevron and anoThe sales price is in excess of 2.9 billion. I just hear the facts not sure what share price response would be.

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Post ID: @11OdEx0G-igw

I would be amazed if the sale of Lummus brings any good. It's the only jewel left in a very shabby crown.
Those relying on offshore to pull MDR through need to open their eyes. Offshore has not performed well since DD took over.
"those who forget history........etc. etc."

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Post ID: @11OdEx0G-vrw

What and who go with the sale?

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Post ID: @11OdEx0G-xhu

How much did they sell it for lol. 2.5b or more.

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Post ID: @11OdEx0G-mnu

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