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Unocal Corporation (UCL) Message Board

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  • a_76_oil_man a_76_oil_man Jan 28, 2000 11:10 PM Flag

    I like Beach

    You win, yes, Beach is a nice Guy. Yes, these "
    Nice " men have effectively destroyed the company we
    once loved. No, I am not a Neophyte investor - I do
    understand both the Oil Industry and the Financial Markets.
    Yes, I am a Unocal employee and in the last 20 years,
    I have watched these Nice Men destroy this once
    fine company. They hire consultants upon consultants
    to make their decisions for them. Every year they
    cut costs but in doing so, they cost the company
    there future, and cause greaater loss in dollars due to
    waste and fraud and abuse by all ( Staff, Contractor,
    vendors ) trying to get a piece before it dies.


    Am I bitter, No, Unocal has treated me well and I
    will work my ass of for them until I fall into there
    cost saving areas ( Maybe in a few weeks )


    Lastly, Selling all non core E&P assets ( This is bull
    shit ) they keep selling assets to keep the company a
    float - very little left.

    I keep hearing that
    Beach should go.. He owns the board, they will never
    fire him, and if the did, who in the company is
    better, ( Ding Ling or Chucky) Dumb or Dumber.

    As
    a Non Neophyte investor, I doubt that Unocal has a
    future - and besides, what the heck is the looming oil
    shortage - You better study up on what you dont know
    before trying to lecture us on the future possibilies.


    Regards, Good Investing.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Ed Bylo is 180 degrees wrong, IMO.

      Selling
      off "non-core" assets and putting all your eggs in
      one basket is almost a guarnatee you will not survive
      the long haul. No one is smart enough to predict
      which way supply or demand will swing from year to
      year. Banking the entire future of your company on the
      likelihood you can do this is foolish to say the least, and
      so far it has been disastrous for UCL, its
      employees, and its shareholders.

      If anyone thinks
      they can predict what oil prices will be even 6 months
      from now they will be sadly mistaken. What goes up
      comes down, and vice-versa. All you know is that it
      will not stay the same, but you don't know when the
      pendulum will swing. A year ago most "experts" were
      predicting low oil prices would persist for years. Unocal
      bought into this idea and lost big time. Also, bean
      counters are more likely to panic than people who have
      been around this industry for awhile. We have seen
      these cycles before and know that they always reverse
      with time.

      Instead of trying to predict the
      unpredictable and time your moves, the smarter, and less risky
      answer is to keep more of an even keel. Save your money
      when prices are high, and don't chop off your arms and
      legs when prices go low. If you are diversified you
      will not feel the price swings so painfully and will
      be less driven to panic moves.

      All of the
      previous gambles by Beach and company based on their "best
      estimate" of where oil prices were going were dead 180
      degrees wrong. What makes you think they have it right
      this time?

      These moves are driven by a
      combination of greed and incompetence, and both are a recipe
      for disaster.

      AK

 

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