Who really gives a big pile of horse crap!!!!!!!!!!!!!!!!!!!!! Maybe they will go bankrupt and put us all out of our misery.
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Crackerhead's house of cards!
NO! Not with the current dic---ads in the corporate office. Also need to unload several of the plant directors they have on the payroll.
The last post is so true! Is it possible another company to buy BHI is on the horizon or how long can BHI last based on the new reorg, etc.? Seems like SO many layers already; and very 'scattered' organized! Who is exactly reporting to who?
Baker Hughes and any other business will only survive if the business is downsized to meet the current demands. Baker can keep a slight excess in preparation of future expansion, but not much. These will be the seed stock for the future. Part of the restructuring will include closing business segments in non performing markets. The drilling services is down 50% to 100% is some markets, figuring an average of around 70-75% on average. The cuts overall will be deep corresponding to a drop in rigs from 2500 to 400. This is a severe long term downturn in the oil and gas industry, this may indicate a new normal lasting at least a few years and up to 5 years rebalancing the supply of oil. Longer term this oversupply is actually a good thing for oil and gas as it is squeezing out alternative energy sources. The loss of talent is extreme and unrecoverable for at least 5-7 years in any industry going through a downturn of this length and magnitude. The other thing to note is the current leadership in power has done nothing to help any of the struggling companies. This is different from the auto industry or solar power industry downturns.
BHI is consciously downsizing from a $26 billion company to a $10 billion company. Will it survive? The 'pruning' will see non-core product lines decommissioned, leaving the remainder as a non-monopoly merger candidate.
No
Absolutely. That's why they are chopping heads off now.