Is it time? Why do we have a amazing campus but a trash balance sheet?
We are honestly struggling to move anywhere, we have people quitting left and right (from people who just started a year or two ago) to people who have been with the company for 10-15 years. Darren wants to pay off all our debt we got in 2020 this year, and we aren't even close.
What should we do? I am tired of seeing LinkedIn posts with people quitting. Can we merge with Chevron or sell our company to them? HELP SOMEONE!
This sounds like fake news.
Going forward, with continued staff reductions and an eventual hybrid work environment (once desired staff reductions have been achieved) it will be hard to imagine we can keep the campus full.
No way Chevron (a leaner and more efficient organization) would have use for the campus.
XOM campus is already in talks of being sold to Chevron, internal sources have confirmed.
CVX purchased Enron Building for $0.10 on the dollar. . . Can EM offer this good of a deal?
ridiculous. why would Chevron do this??
Yes. It's a monument to opulence and well, we just don't have that luxury anymore.
Most at the campus will be laid off in December, others will be moved to the sites to replace those who quit. We don’t need R&D as we’ll contract. The campus will be sold to Amazon at 50% of the cost to build. Exxon will take Amazon stock and Darren will tell investors how smart he is because Amazon stock will go to $5-$6k when he sell it. Amazon will use the campus as a fulfillment center, data center, and regional office.
BP owns 20% of Rosneft.
I can see Chevron buying 20% of us.
Not.
Chevron makes good investment decisions. So that pretty much ki--s the chances that will happen.
Our balance sheet will be fine, our EBITDA/debt ratio is pretty low actually. Nobody with a financial background really should see any problem with our books. If we took on more debt and didn’t pay off what we have no it would be concerning or if it was still $30/barrel yea but we’re fine from a debt standpoint. Lots of problems with XOM. But that isn’t one of them.
As for your question “Can we sell the company to chevron?” Um no. We are worth more than chevron so that doesn’t even make sense. Merger? Not in this political climate and not with headlines about record quarters. Maybe in 5-10 years IF neither of us have any green solutions and gas becomes cheap you could swing it politically. Or more likely it would be taken as a private company so profits could be milked and investment into the future would be nil because of a declining industry.
Even if we develop green stuff this is still likely to happen with the (in the future) legacy oil and gas components while the green components stay with the XOM brand. So that XOM can say it’s 100% in the clean energy business (in 20/30 years) and not be weighed down publicly by sketchy practices with declining assets and have low multiple assets on its balance sheet.
Lol nice try Chevron
Selling Campus to Chevron would be like a kick in the nuts and no way to spin to save face.
Selling to Amazon more likely as could try to spin this as WE4 or WE5 evolution of our workplace and not appear as another oil company took over that elaborate asset.
Maybe call it Work Decentralization and complementing the DTI strategy.
Yep, this company is in the dumps. Prospective employees should look elsewhere.
Probably won’t happen. I hear you. I’m disappointed with the situation as well.
It won’t last forever.