Thread regarding Chicago Bridge & Iron layoffs


CBI were taken down by debt and project losses. MDR swallowed CBI's problems whole. We learned this week that these problems are not under control. These problems are so bad one of these clowns said they are a take over defence. Nobody would be foolish enough to take on these problems. Except MDR. MDR are like the Marines, we run TO trouble not from trouble. But these were not our problems to fix, why did we swallow these poison pills? You don't run toward an oncoming train! You can't run away from the ground below after you jump over a cliff! The prodigies which run MDR thought maybe they could fix the projects and that they had enough money and equity to absord the shocks Q over Q. now we see they can't fix the projects and the strategy is just to absord the losses, now with more equity and more cash. Wall street's sharkiest firm to the rescue! Sell off our most profitable divisions before real market growth kicks in. Brilliant! MDR now admit the focus projects were broken from day 1. But how do you fix lumpsum contracts that were underbid without going bankrupt? Nobody told MDR to take on these problems, they were foolish to do it. "Focus projects" is right, they take too much attention of mngt, they distract us from our jobs and our families, and there is no upside. At least not to the employees, you are still a cost, part of the problem, need to be cut. No raises, bonuses, promotions for YOU greedy swine. We need to save money for executive comp. But there never was an upside. The Wonderboys believed their own press, now realise they are in over their heads. They aren't smart enough to fix these projects, so now they are trying to save the company. And calling it business as usual. "Nothing to see here, no train wreck in process. It's not our fault. You just lack faith and overreacted. But don't worry, the employees will pay". GET OUT NOW!!

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Post ID: @OP+VXTDgHn

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Can't fix stupid! Need more micromanagement and CMS right?

Post ID: @7atj+VXTDgHn

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