I worked for Exxon for 17 years before making the biggest mistake of my working career and coming to Chevron 5 years ago. THIS BLACE IS F'd UP! The average Chevron employee would not last a month at Exxon. I would pay to see the ass raping Exxon would do to our management team. Exxon=results....period! Chevron puts zero value on results....all process. http://blogs.barrons.com/stockstowatchtoday/2015/09/09/yes-exxonmobil-could-buy-chevron/
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XOM offers 33% premium to current price of CVX stock, offloads US downstream into separate company to assuage anti-trust concerns, gets 12 billion proven reserves for $20 a barrel. Job done. Chevron has no European downstream business to speak of and just sold Caltex Australia. Unimaginable ?
No where in the blog does it say it will buy or should buy. The article states Exxon could buy Chevron based on its on hand cash. Non of the majors Will ever merge
The 3Q earnings report for Chevron will be UGLY. Be prepared for a stock price decline in the days before the conference call, and a severe drop in the price the very day of the report. There are things that will come to light in this conference call which will shock investors. Yes, it's worse than most people are expecting.
In addition to this story on Yahoo Finance this week about the ability of XOM to buy CVX, this morning there is another story called, "Don't Try to Catch a Falling Knife: Sell Chevron Stock." This is the first time I have seen so many analysts really bringing to the headlines the seriousness of Chevron's financial situation. Could it be because the third quarter ends in about three weeks and the analysts are preparing the investment community for the dire earnings results?
They had this on XM a few days ago. They had an antitrust attorney on and he made me smile. He said everyone throws this "They won't do it because of antitrust and nobody even understands antitrust". In the antitrust world this can happen with ZERO consequences.....as what was said in the thread, this is a multinational business. It is finally making main stream news that Chevron is in deep shit for poor decisions and poorer execution.
If XOM did acquire CVX, stranger things have happened, a lot of the PC CVX pussies would be out of work. XOM is results driven. Just look at who's on the ropes, CVX not XOM.
1979-80 Gulf Oil is in decline bets the house on Cross Island AK - biggest dry hole to date. Along comes "White Knight" Chevron & picks up West Africa at a bargain. Fast forward 2015 Chevron bets all on LNG & DW! XOM "New White Knight" picks up the big pieces at a bargain like Oz and Africa and spins of the rest to pay for it. XOM may seem a bit uptight but they are still the best at what they do. And yes US Congress will approve because the acquisitions will be foreign and the spinoffs domestic so no Sherman Anti-trust here. Yes history does repeat itself.
1979-80 Gulf Oil is in decline bets the house on Cross Island AK - biggest dry hole to date. Along comes "White Knight" Chevron & picks up West Africa at a bargain. Fast forward 2015 Chevron bets all on LNG & DW! XOM "New White Knight" picks up the big pieces at a bargain like Oz and Africa and spins of the rest to pay for it. XOM may seem a bit uptight but they are still the best at what they do. And yes US Congress will approve because the acquisitions will be foreign and the spinoffs domestic so no Sherman Anti-trust here. Yes history does repeat itself.
Yes, a lot of hostile people here for sure, The bad apples have to be weeded out every once in a while, The company will be better for it in the end.
All of these Chevron ways are eating the company away. One can't walk across the street before following such procedures or else that person is not worth keeping. Chevron focuses more on stupid little things than actual work. There are 3 individuals doing the same job. Another 2 managers (team leads or whatever you want to call them) telling you what to do. Only a bunch of people to pretty much repot one another and disagree on the agreed. My opinion is simple = get rid of middle mediocre management, compile work into 1 person as much as possible (make the 90k worth). Stop paying out so much money to beneficiaries. What is wrong with Chevron? In my opinion, you are working under salary or hourly. Either way you are getting compensated for your time. What in hell should you receive thousands of dollars in incentives when laid off or simply when time for retirement? Take your 401k, bonds, stock options and F up. Remember what JP Morgan did when times were rough? Look it up, it's call Morganization and heck yea it's a lot better that going through the unlimited lies and layers of the ROM
Ha, you are showing your age, But I worked for him too. Good man,
OB is correct. This blace is combletely f'd!
I read the same Barron's article. There's no real likelihood this would happen. I'm more in the camp that believes the large investment companies put this rumor out to get retail investors to buy the stock to lift its speculative value on an imminent acquisition, so they can dump their holdings in CVX. When the supposed acquisition takes too long to materialize, the retail investors sell their stock which then lowers the CVX share price. This is where the large investment companies come back and buys the shares back n the cheap. Don't fall for this Barron's head fake article.
Haha this guy is a fool if he thinks the government would allow such a merger. They wouldn't let T-mobile and AT&T merge. What makes you think they would let to super majors come together. It would almost be the final piece in putting back together standard oil. I have worked for Exxon, Chevron, and Shell. All great companies to work for . This site is full of people who are upset . Understandable, they were layed off or are on the cusp. What do you expect them to say nice things about chevron after they get the boot. I would take everything you here on this site with a grain of salt.
Chevron is the most F'd up oil and gas company there is, due to total lack of accountability and lack of results. You can do anything you damn well please and there are no consequences. Period. I say this having worked for a combination of four different independents and majors. The folks who keep saying on this message board that Chevron will come out of this and "change and be better" are dillusional. It will take being acquired for any change to occur. Scott Adams, the creator of Dilbert, used to carpool with Chevron folks when he worked for Pacific Bell, and they provided much inspiration for his cartoons. I got the F out of this company when oil was over $100 more than a year ago. Chevron is a sinking ship. Would you trust your retirement to these squirrels??