I totally agree with 'Would not make a pimple' comment. To also add to Dave and Jeff, although Halliburton wasn't known by this name until 1961, Earle began the eventual company in 1919. I'm sure he is currently rolling in his grave, and somewhere Dick Cheney is clutching his heart at the way these two ass-clowns are running the business during this recession. When the merger doesn't go through and you have to layoff +30% of your remaining staff to cover the 3.5 Billion penalty to Baker Hughes, plus further Corporate and Shareholder litigations which can also run into the billions. The proposed 7.5 billion in bonds won't save this company people, since I doubt they will be fracking/cementing any wells in 2019 or firing off any fireworks to celebrate the Centennial, since they will be either fully dissolved or broken up enough to be acquired by the competition. I am selling what remains of my HAL stocks on Monday people, and suggest you do the same before the stock goes as worthless as what is written in a Sperry tally book.
I was layed off last year when HAL lost the service contract to SLB, since they refused to negotiate the prices for the local operator. SLB was willing to play ball, and took over the entire service contract. I blame Dave, since he sent out that email last Spring telling us all that we would not lower our prices in order to keep our people or equipment working. He claimed we have the best people, processes, and Technology in the market to ride out the storm. Since then I have seen or heard about loss after loss in bids, and don't recall hearing of any wins either. If our Technology is so great, than why are we acquiring Baker Hughes to implement theres into ours. Also, our processes stink!! The Black Book Process that Jeff Miller implemented into Baroid (which got him promoted to President) takes too much productive customer time out of the day to properly perform. Unless, you show how red your blood is by working 15-20 hours a day. I fell for the bullshit myself, where I was indoctrinated in a Houston class room for a few weeks making to feel special that I was the 1% invited, and made to think that Halliburton only hired, trained, and retained their best staff of butt kissers, back stabbers, and sneak thiefs.
I really enjoyed my time at Halliburton, and had the best working relationships ever with my two direct Supervisors before transferring for overseas work. I was devasted and bitter when I got released. However, my wife and I have been in this business long enough to know to save up, and we have enough to live on for the next two to three years. I feel no stress everyday since, and symphatize with co-workers who still call me up, and let me know how scared they are of their jobs since HAL still continues to lose bids, and need to protect the job of the last incompetent PDC left in the district.
Finally, for those who will be receiving Severance packages in the next week, month, or fiscal quarters keep this in mind. HAL will attempt to screw you on your severance package by deflating what they claim your average earnings are whether you are wage, salary, or variable paid, and paying you at one or two weeks per year service. I recommend everyone refuse to sign their release papers until their lawyers had a chance to review their packages. One of the drawbacks to lawyering up is that you will be put on the official "no-hire list" like me, but do you really want to run back to a company who doesn't value your contributions enough to label you "replaceable," and cheats you out of thousands of dollars of sev money in order to selfishly pay out executive bonuses and look good to investors.
Another funny thing that will also happen in the lawyer up process is that they will respond to your challenge by a letter written by a certain African-American in house Attorney in Houston who dresses up as a Jedi Knight for Halloween (check the legal picture gallery if you don't believe me), which states that you did not hold a job deemed "Professional", and your little skills you may have acquired can be easily be transferred to a minimum wage job. I was rather astounded by this shocking claim, since I held a position, with the word "professional" in it. My response (which my lawyer was humoured by, but refused to reply back with) to this Sith Witch in Sheeps clothing is that I saved enough money to take it easy for the next few years, and go back to school so I'll get a better job outside the industry, and not be looked down by pure American ghetto trash.