Houston Business Journal reported former McDermott CFO picks up severance bonus on his way out.
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Investors are not amused.
The press, their readers.
More important than the payment itself is that it is press-worthy. Even outsiders are amused by this Complete Sh– Show.
to @122Noc3M-1jeg, yeah but mediocrity is the rule here. Really bad are HR, IT, marketing & communication. The Retention Bonus Secret Society just doing their same ol' mediocre jobs and signing CA's. All the admins on 14 with a sense of entitlement. All the mngt on 14 with their sense of entitlement. Visa guys are high energy but clueless. Focus Projects people, whether in bidding/ derisking/ execution, whatever, doesn't matter, something was seriously f—ed up there. And DD for buying some really f—ed up projects and paying extra.
Still pretty good are Lummus and Tanks. But a lot of other good, smart heritage CBI people left for greener pastures when the pastures here faded. Ego, sycophancy, and retention bonus money are the pillars now. Direction faded and everyday became about cash, CPI. But money was still flowing to the laughably inept & the ridiculous.
We want the big $ headliner Onshore projects but we can't manage or finance them. Why stay?
I can't really tell who's ex-CBI any more, so many are gone. Maybe the open environment will change that. But face time at your computer is not a KPI. This is not a call center. Meetings in other buildings, meetings with clients & suppliers, early morning calls. Industry networking. Exercise. Clearing your head. Job interviews. All sorts of reasons I don't punch a clock. I'll take smart quality work over face time any day.
Maybe you should report the cheaters to HR.
The heritage McDermott are awful to mediocre. But a co like this doesn't attract all stars, mostly people who can't get work somewhere else. But shine or s—, punch a clock and sit at your desk or work flexibly, this plane is going down. And nothing you do or did will matter.
As to Porky, he was part of a cabal which ruined this company. Anyone else with such abysmal results deserved to be cut and not be rewarded. But, y'know, ego, sycophancy... and a general cluelessness about how to run this business and measure success...which you think is face time. So YOU are part of the problem.
Projection much, "truth" bringer? Unless you personally manage "most" of the accused you claim do poor jobs with the worst work ethics, you have no idea what "most" people do. Indicted by your own false accusations, you reveal yourself as the real deadwood slacker who will be caught up in the first round of layoffs. So you're bitter. In advance. And you play the self-righteous corporate defender deluded by the belief that it inoculates you from suspicion.
Most of you are doing the same thing. Taking home a check for a job poorly done. Most of the CBI people have the worst worth ethics I’ve ever seen. Come in late and find ways to take long lunch and and sneak out early.
Everyone gets a trophy until they stop handing them out!
He was paid to resign because someone had to take the fall for not reporting the SEC probe to the lenders during the negotiation of the $1.7 billion in rescue financing. He resigned and they gave him his money for taking the fall.
We are not that different compared to Enron.
Hilarious what are the compensation committee doing - awarding people for failure says it all really