What have they done wrong in the past few weeks?
18 replies (most recent on top)
So how long before we think DNR files for bankruptcy? The incompetence of our senior management over the past few weeks is just to much to listen to.
It might not be a reputable site with accurate reporting, but it does gives a place to express concerns and information without being black balled....
I tried, but the windows wont open
If you work here and frequent this page you are the problem. You know 99.9% of the stuff written on here is not true, and is going to make you stress out. Maybe you should spend more time working on your daily tasks and your company wouldn’t be in the sh– hole it’s in. You work in oil and gas you know what you signed up for. Inflated salaries for now job security. If you expect anything different you are going to end up jumping out the building.
At least the executives are getting a big payday before bankruptcy...they deserve it!! Jk...
Another possibility, that I have not completely researched, is that the Main Street Lending Program has certain requirements on executive compensation, and that these changes were made to make getting a loan under MSLP possible. I saw this mentioned somewhere else online, but have not had time to look into the details of MSLP to see if it makes sense or not.
If you don't work and DNR and still frequent this page, get a life.
If you still work at denbury and aren’t feverishly looking for another job your head is stuck so far in the sand it’s ridiculous. I wish you all well but please don’t let it slip on you. Leave on your terms , trust me
It’s in the disclosure doc he attached. Not just executives. 21 people. I guess the pets.
So is the twitter article implying the executives are taking a huge bonus to compensate for their salary reductions? Where is the author of the article getting that info?
This bonus is only to throw us peons a bone because after bankruptcy you won’t get any LTIs.
Shameful and pathetic!
i am not versed in legalese and don't have experience looking at bk like some here seem to. can someone explain how this connects with CK taking a 20% reduction in base salary and 35% cut in variable pay (incentives?) and a few other execs taking similar cuts?
Exactly what it is, during bankruptcy the Company's ability to pay bonuses to execs, directors and others considered "insiders" under the Code will be hampered by clawback features so bonuses are prepaid to them before filing the petitions. Also a sign that management thinks it could be a long drawn-out BK versus a brief prepackaged one.