This all smells a lot like what happened at ARCO many (15) years ago. The CEO was Mr. Bowlin. He cut the staff, kept borrowing to pay the dividend, swore ARCO would "remain fearcely independent". And then he sold ARCO to BP (Sir John Brown). Mr. bowlin rode off into the sunset with about 34 MM In his saddle bags. Mr. Lance was one of Mr. Bowlin's lieutenants. Apples usually don't fall too far from the tree. Stay tuned.
4 replies (most recent on top)
Yep, looks like quite possibly a sale or merger, my guess is merger since COP is so big. I have been through this before.
Yelp
matthew 6 19-21
You have my vote. Lance is out and about selling the company.