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Unocal Corporation (UCL) Message Board

  • ed_bylo ed_bylo Jan 28, 2000 6:54 PM Flag

    I like Beach

    He is making the right moves by selling non E&P
    assets so that a better return can be made in the future
    because of the looming oil shortage. Neophyte investors
    only look at the past performance, instead of
    evaluating the future possibilies.

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    • 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.

      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.

      • 1 Reply to a_76_oil_man
      • Ed Bylo is 180 degrees wrong, IMO.

        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.