You've got to be kidding me! The current management of semgroup will reportedly be receiving somewhere between $500,000 and $900,000 EACH if they lose their jobs. While the other 276 rank and file employees would average approx $4000 each. huh?
IF management loses their jobs shouldn't be the question. Rather, when? I'd toss those clowns out immediately. why allow them to do more damage?
A better question to ask is: "Why is management being rewarded for causing the company to FAIL?
Insanity, I tell you. Glad I don't own shares in Sem but if I were you guys I'd be asking some hard questions regarding how this whole mess was orchestrated. I see conflicts galore between BOKF and Kivisto and a potential class action suit brewing.
Reminds me of CFS, Williams Communication, and now SemGroup. These guys pop up out of nowhere, make a billion in stock options, line their pockets as quickly as they can and then someone pulls the pin on the inevitable grenade.
and 276 good people lose a job due to the ineptitude of management. unreal.