Criminality on 31

How is it that Vicki and everyone else on 31 still have jobs?

They all should be in jail. Along with the entire ex-EC of Anadarko.

Vicki and EC came up with the idea of buying Anadarko as a way of keeping their power/jobs, because they thought Oxy itself was a buyout candidate.

After pursuing Anadarko for almost two years (upping the total offer and cash %), CVX swooped in less than a day after Oxy’s last offer and made a substantially lower offer that was accepted immediately by Anadarko’s board. Someone on APC’s EC was communicating with CVX. If that’s not illegal, it should be. APC EC also made out like bandits by doing so.

Vicki and EC couldn’t stand for losing out to CVX, so they kept upping their offer (to beyond reasonable). To avoid a shareholder vote - which they knew they would lose - Vicki and her minions got $10B in “private” financing from Warren Buffett (at 8% per year!). How did governance of Oxy allow such an act of illegality?

The seeds of all this BS started when Vicki imported large numbers of ex-Apache (aka the Apache Mafia) and she believed all the stories (lies) they told her. That led to a large increase in budgets for Permian UC oil wells, while reducing (by several $100 MM each year) the budget for Oxy’s once proud Permian EOR. Note that Permian EOR costs per barrel are less than those for most of the Permian UC oil plays. Go figure? No problem, the loudmouth charlatans of the Apache Mafia made it that way. Many untruths promulgated by the Apache Mafia regarding the profitability / sustainability of the Permian UC oil plays.

So all this led to one of the largest cases of Capital Destruction in US economic history. The “dudes” of Enron can rest easy as they are no longer the worst case.

All due to criminal stupidity (if not criminal acts) on 31

Comment! It's anonymous!

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The comment meant words like this: s—-s which stands for something else. That’s it!

Who came in from Apache?

Can you explain that comment? You have a checklist of items mentioned on the lay-off board? I’d say your days are numbered.

Any words on here that are disguised as other words: whoever checks these posts, should add those words to the check list.

I agree, as there's hardly anything criminal that likely happened, unfortunately. If there was, I hope they are prosecuted fully, but I doubt anything criminal happened. Now gross negligence, incompetence, utter stupidity, and selfish behavior? Yes, VH and our EC and board have proven that they're great at that. Even APC execs, while they were selfish and greedy pricks, didn't do anything that appears to be illegal, unfortunately. The conversations with Chevron, which have been documented, don't appear to be illegal. The initial deal with Chevron was better than Oxy's deal, because our first deal was very stock heavy (and see how well our stock has held up). That's why VH had to get Buffet involved. APC really wanted to make a deal with Chevron over Oxy, and I can't say that I blame them. I wish that would've happened, but VH stepped in at the 11th hour to doom us all. While the emotional side of me likes to think that a lot of criminal activity was happening, remember that our execs and APC's execs are surrounded by lawyers and advisers through all of this, and they likely avoided criminal activity. But that does not mean that they performed their jobs satisfactorily. VH should be fired for her mistakes, incompetence, and arrogance. Unfortunately, that would still leave her with millions of dollars.

I'm trying to understand where the actual crime is that was committed? The only thing that sounds potentially criminal is the discussions between Chevron and Anadarko. While I agree there has been capital destruction it is not fair to compare this to Enron unless you are aware of any accounting irregularities? Enron went down due to cooked books and is also one of the primary reasons for having to meet SOX compliance (which Oxy does).

Do you have any new information?

Thread regarding Occidental Petroleum Corp. layoffs

Criminality on 31

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