- for bringing down the stock to numbers we had not seen since 2003, or lets say before National saved you. We can blame it on the coronavirus and the oil/gas price wars but lets be honest there has been a disease (lets call it the VarcoVirus) at the company since February 2014 and it was bound to destroy what National built. So congrats to all of you, well done, yall will forever be known as the true pandemic that wiped out a great company.
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@iesr Yea we are essentially doing the same job right now! We are both On the board complaining and whining not doing our actual job.
But on the serious side the one thing I’ve learned working here is no one, including you, is irreplaceable. Regardless of your 32 years and the fact that no one sticks around and all the bla bla bla. These people don’t give a flying sh*t. This is exactly the reason you older folks don’t take the VERP because y’all think no one else can do it. I hope for your case it’s true.
Good luck to you sir.
@ithu I am well aware what this board is for. My choice of words should have been….Why do you guys whine and complain all the time and not do anything about it? If you are so unhappy in your current position, make a change. Why on earth do you want to work somewhere that you are not happy? Why do you want to be so miserable?
You think you can do my job? It takes years of training and common sense and then a lot of field experience. With 32 years’ experience everyone I have started training either quits or they are laid off and I am still here, so yes my position is pretty much guaranteed right now, is yours?
@ihut I don't know if you understand what these boards are? If you're tired of hearing people complain and point blame then how about you not come and read them?
"Not many where I work can do my job".....famous last words LOL. Keep thinking that bud and hopefully you will not learn why people vent here.
I am calm and enjoying my time. It just gets so old listening to these guys complain everyday and point blame.
Not worried about any layoff coming, not many where I work can do my job, thats why i am still here.
Calm down ol’timer...its clearly mentioned the virus and oil prices. Everyone knows why the stocks are all low but I believe the point was, this was probably inevitable with or without the crisis.
Glad you like it here....me too, get paid w/o doing much. Hope you or I are not in the list coming up soon.
@OP, you do know it's not just NOV who's stock is in the dirt or has declined since 2014 right?
You're not the brightest light bulb in the room making a comment like you did. In your mind i guess it would be safe to say that Halliburton, Schlumberger, Baker Hughes ect. ect. has lousy CEO's also.
If you don't like the situation you are in, leave, go elsewhere and whine all day about how bad the new company is. Some of us old timers like it here.
Before we became NOV cedar park was an awesome place to work!
VarcoVirus is one thing to call it but I prefer lazy hillbilly virus.
The Elf feels great, no National people of importance left. He is now rich. Mission Accomplished. Move up Rogain for men and Mall Cop. Well done. Manage a Corp from a spreadsheet. He has no idea about the market.
Just take lessons from our current CEO and you too can take a great established company and drive it into the ground in just a few short years!
The Chief Elfecutive is useless....he may be physically able to fit his entire body into PM's shoe but he will NEVER be able to fill them figuratively. Go away little guy, let the big folks take over.
You should take that money and spend it on us!
Chairman, President and CEO was awarded an additional 239,020 shares on 2/25 as compensation so the sale offs are likely related to that. Looks like he was targeting a cashout around $1.72MM of the $4.8MM just awarded (Assuming Price during the stock award was still 20.23). https://www.nasdaq.com/market-activity/stocks/nov/insider-activity
On 02/22 Chairman, President and CEO disposed of 9,400 shares at 23.21
On 02/25 Chairman, President and CEO disposed of 52,000 shares at 20.23
On 02/27 and 2/28 , Chairman, President and CEO disposed of almost 24,000 shares at $18.70 .
That's over 85,000 share sold over a few days. Today the stock price is under $10.
He saved himself $800,000 by selling a small portion of his shares before the stock price sunk. Did he see it coming?
this is public data called Form 4 that each company must file with the SEC with a Officer of a public company acquires/disposes of shares.
Nicely put!
You guys are so funny about blaming Varco. #1 the management team there is awful and is full of ex-Varco people but all the people who made Varco great PM ran off as soon as NOI and Varco became NOV. They were told to pack up and get gone, so what was left was the middle management or lower people that eventually got promoted because from day 1 anyone with a any bit of common sense left the company. Politics and BS have ruled the day since then, regardless of the CEO. It's mismanaged yes, but to blame it on Varco is funny. The NOI culture of good ole boys and blind loyalty is the real culprit and your stock price is a joke because the world is in a free fall. You guys are just blind or dumb.
Im personally disturbed by the way this goofy company does things. Never mind numbers. They are so safety paranoid, that they actually compromise safety by insisting on having a group meeting. I am not real happy about NOV compromising my own health and safety for their own safety numbers. Think about it, you don’t have to be sick to get people sick. 6 feet away doesn’t matter when someone is asymptomatic and you cross paths. Never mind the id–ts who tell you don’t walk thru here, its a pressure test.. while these complete id–ts are sitting at a pic-nic table on their phones. Damn craziest place I've ever been