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Old 11-17-2014, 10:00 PM
 
Location: Houston, TX
17,029 posts, read 30,929,122 times
Reputation: 16265

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^^^From watching the financial sites and news, the Wall Street types like the move. Sad sign of the times.
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Old 11-18-2014, 06:24 AM
 
1,715 posts, read 2,298,228 times
Reputation: 961
It was all done to compete with Schlumberger.
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Old 11-18-2014, 08:37 AM
 
2,047 posts, read 2,984,752 times
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Quote:
Originally Posted by Oildog View Post
^^^From watching the financial sites and news, the Wall Street types like the move. Sad sign of the times.
For the number crunchers and C level positions, merger is great for a company and their own individual pocket with golden parachute.

Questionable for the shareholders.

Usually bad for the employees.

Board is only accountable to the shareholders with great influence by the C level positions. So that's that.
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Old 11-18-2014, 09:56 AM
 
Location: Texas
1,922 posts, read 2,778,970 times
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Quote:
Originally Posted by Oildog View Post
Those with the boots on the ground are usually safer than those higher up. But the upper levels get a parachute. The managers in the middle often face the worst squeeze.

Did this end up as a hostile takeover, read rumor of that.

sorta. It was friendly at first, then became a threat, and now both boards are holding hands and singing campfire songs together.
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Old 11-18-2014, 11:45 AM
 
352 posts, read 778,395 times
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Quote:
Originally Posted by hendersj31 View Post
Yeah, but the executives who go usually leave with a nice package. At least in the few real world examples I have been part of.
What kind of packages are we talking about? 20k, 50k severance?
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Old 11-18-2014, 11:54 AM
 
Location: Hougary, Texberta
9,019 posts, read 14,293,297 times
Reputation: 11032
Quote:
Originally Posted by Waytoodeep03 View Post
What kind of packages are we talking about? 20k, 50k severance?
Add a zero or two to those numbers depending on the level.
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Old 11-18-2014, 11:55 AM
 
Location: Hougary, Texberta
9,019 posts, read 14,293,297 times
Reputation: 11032
Quote:
Originally Posted by fordlover View Post
sorta. It was friendly at first, then became a threat, and now both boards are holding hands and singing campfire songs together.
Look at the board make-up post merger. It's all HAL, and Baker gets three new seats at the table. All the C-Level is HAL.
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Old 11-18-2014, 02:51 PM
 
2,047 posts, read 2,984,752 times
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Oh boy, get ready for the BOOM.

http://finance.yahoo.com/news/hallib...145711162.html

They are claiming over 2 Billion in savings from annual cost synergies from the merger.

It will takes LOTS of employee cuts to make this 2 Billion synergy.
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Old 11-18-2014, 02:58 PM
 
86 posts, read 116,780 times
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Easy.. say 40% of those savings will be fixed costs (rent, equipment, factories, etc). that leaves us with 1.2B, Glassdoor say average salary is $100k, that's 12000 jobs. BH has 59,000 employees according to their website, that makes it 20% cut, totally feasible.
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Old 11-18-2014, 09:11 PM
 
Location: Sugar Land
2,465 posts, read 5,793,637 times
Reputation: 2733
I work for Schlumberger. We will do just fine :-)

Quote:
Originally Posted by TexasTony View Post
It was all done to compete with Schlumberger.
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