NOV is crippled by its inefficient, multiple system processes, de-skilled positions and complete lack of decision makers. There is a frightening number of individuals simply ‘going through the motions’ in that place. Not to mention the recent reorganisation as completely uninspiring. Replace ‘same thing’ with ‘same people’ below in Einstein’s famous quote. Sound familiar?
The definition of insanity is doing the same thing over and over again, but expecting different results
What does it mean ?? It means someone has done some whistle-blowing about some alleged dodgy deals .... Fiduciary Duty means you are entrusted by shareholders to act in the best interests of NOV, allegedly someone(or more) at the top of the heap may not have been ... possibly ..... in someones opinion. But lawyers are taking the allegation seriously which aint good news.
Watch this space and let the betting commence
What does it means?
https://www.prnewswire.com/news-releases/shareholder-alert-purcell-julie–lefkowitz-llp-is-investigating-national-oilwell-varco-inc-for-potential-breaches-of-fiduciary-duty-by-its-board-of-directors-300956320.html
Get rid of all the hangers on, especially the VP's, they only want the next move and a bigger salary / office. When they are gone, see the trail of carnage they leave, assuming we all still have jobs that is. Putting younger and cheaper people in roles with no experience will only give bad results, lost opportunities and loss of the good people. 'Yes men' rule in NOV, that's the problem.
Excellent that’s great news for all NOVs competitors
NOV is on the verge of bankruptcy. They already started to big on jobs at well below cost just to try to win anything. Every contract they do get now is at a huge loss.
When politics is the primary currency in a company, the good people who care and try to make a difference for the better get sick of it or run off and you're left with people who play politics or watch it being played and neither improves the bottom line.