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Chevron Corporation Message Board

size2witch 2 posts  |  Last Activity: Feb 10, 2014 5:19 PM Member since: May 16, 2001
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  • Reply to

    so much for ten.

    by ronbiker1 Jan 24, 2014 5:21 AM
    size2witch size2witch Feb 10, 2014 5:19 PM Flag

    Cash burn rate --- Let’s see, the Mexico Project is bleeding $$$, a couple of project in Dubai are turning to a loss, the offshore Malaysia work is losing $$$. In Houston, they laid off the Engineering group (billable hours to clients) if they had any work), loaded up with more Management and hired lots of supporting groups – IE HR, Accounting/Project Controls, and Purchasing and lastly, the ship they are building with no committed backlog.

    I guess that could be considered bleeding cash – where does the info come from – many years of contacts through my oil services sales job.

    Sentiment: Hold

  • Reply to

    so much for ten.

    by ronbiker1 Jan 24, 2014 5:21 AM
    size2witch size2witch Jan 27, 2014 9:10 AM Flag

    So true - another nail in the coffin of what was a great company - Lost the only manager still holding the company together - Stewart Mitchell in Dubai is a very respected and well connected person - a loss that the company may not be able to recover from - boy letting him go a was a mistake - most of the current work in the middle east wash because of him, and he will end up taking with him were ever he ends up.

    Sentiment: Strong Sell

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