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Old 04-09-2016, 09:28 AM
 
Location: Sugar Land
2,465 posts, read 5,791,723 times
Reputation: 2733

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Accurate. The CEO absolutely hates the Chinese owners. When the HQ moved from NY to 5599 they increased the rent by 35%, little by little every year. Most of the real stuff happens in the Sugar Land campus anyway. I started there 25 years ago.

Quote:
Originally Posted by Meyerland View Post
Schlumberger will be most likely be consolidating down in Sugarland. That's the rumor. I believe their lease at the San Felipe office is ending.
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Old 04-09-2016, 06:07 PM
 
951 posts, read 1,452,040 times
Reputation: 598
Quote:
Originally Posted by Htown2013 View Post
Houses that had multiple CASH offers above list price are seeing little activity. Sad. This has got to eventually get better.
Nope
As long as oil is around $40, chevron has to layoff all the time
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Old 04-10-2016, 09:48 AM
 
Location: Sugar Land
2,465 posts, read 5,791,723 times
Reputation: 2733
But whys Exxon not doing the same?

Quote:
Originally Posted by misterno View Post
Nope
As long as oil is around $40, chevron has to layoff all the time
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Old 04-10-2016, 10:07 AM
 
6,720 posts, read 8,388,075 times
Reputation: 10409
Quote:
Originally Posted by ethanw View Post
But whys Exxon not doing the same?
They had already shed the bulk of their overstaffed areas before the downturn. They were lucky to have downsized early and are running lean. They offered early retirement packages and just didn't replace the positions lost to attrition when they moved offices from all over into the Houston area offices. Exxon just likes to run lean.

They just have a differe philosophy too. Think about Schlumberger and its slash and burn way of dealing with down turns. They hire a lot of staff in the good times and run very bloated offices, and then when it gets tough they lay off workers. Lots of O&G companies do this.

http://video.cnbc.com/gallery/?video=3000498384

Last edited by Meyerland; 04-10-2016 at 10:27 AM..
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Old 04-11-2016, 09:59 PM
 
Location: Austin
1,795 posts, read 3,166,721 times
Reputation: 1255
The latest unemployment rate in Houston (Feb 2016) is at 4.7% so it's still under the National unemployment rate which is at 5.0%. But as far as I'm seeing right now, the worst is over for Houston. That's not to say there won't be any more job cuts, but I do think the majority of layoffs has already happened.

Unemployment Rates for Large Metropolitan Areas
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Old 04-12-2016, 06:15 AM
 
2,047 posts, read 2,983,856 times
Reputation: 2373
Quote:
Originally Posted by JoninATX View Post
The latest unemployment rate in Houston (Feb 2016) is at 4.7% so it's still under the National unemployment rate which is at 5.0%. But as far as I'm seeing right now, the worst is over for Houston. That's not to say there won't be any more job cuts, but I do think the majority of layoffs has already happened.

Unemployment Rates for Large Metropolitan Areas
Definitely do not agree. I think as long as oil is below $50, we will continue to see layoffs and more than likely a few more bankruptcies for the smaller guys.
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Old 04-12-2016, 06:29 AM
 
6,720 posts, read 8,388,075 times
Reputation: 10409
We will have lots of smaller companies going bankrupt. It will be a long slow bleed, but we will eventually recover. Some people will move out of the industry, a large chunk will retire, companies will run leaner, and some will go under/be bought out.
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Old 04-12-2016, 07:39 AM
 
951 posts, read 1,452,040 times
Reputation: 598
I personally do not agree

As long as Brent is around 40, cvx, xom, bp and others will lose money

As long as they lose money they will keep laying off
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Old 04-12-2016, 07:52 AM
 
467 posts, read 778,453 times
Reputation: 376
Traders Call Bottom of Oil Price Slump
The prediction for crude markets comes as oil prices start to recover from lows hit earlier this year

Traders Call Bottom of Oil Price Slump - WSJ
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Old 04-12-2016, 08:02 AM
 
20 posts, read 19,173 times
Reputation: 22
Quote:
Originally Posted by dd1153 View Post
Traders Call Bottom of Oil Price Slump
The prediction for crude markets comes as oil prices start to recover from lows hit earlier this year

Traders Call Bottom of Oil Price Slump - WSJ
I wish I got paid a lot of money to pull predictions out of my ass
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