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936horn

By 936horn
in Business and Markets

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Guest Lobo

Guest Lobo

Posted
Posted
33 minutes ago, Dr. Beeper said:

blah blah blah I fantasize about men getting raped blah blah blah

Now who’s name dropping?  Sickie. 
 

anyway to the rest of the posters—-what is the real story on how much  excess refining capacity Mexico actually has?  

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Pescado_Rojo
Pescado_Rojo

I bet you could score a Lafayette 10 for a mani/pedi gift card and a pound of boudin right now.  I was sitting in a Starbucks by the med center in Laffy once, and a brand new white Escalade, lift

Rimbo
Rimbo

If you're Trump right now, you're watching Fox News, eating a cheeseburger, and getting mad about the lyin' media and preparing your next tweet about how some lupus treatment should be given to your s

fattyflattie
fattyflattie

My time finally came last Friday AM. I have survived around a dozen, give or take 1-2, since ‘08.  I was consulting for a project set to go in ‘22, but with all the uncertainty, it sounds like they’ve

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TonyTexas

TonyTexas 10,510

Posted
Posted (edited)
15 minutes ago, Parliament said:

So how does that work?  The lowest bidders get to leave, and the high bidders gotta stay on the job?

Lowest bidders get to leave with money and benefits . Highest bidders leave with only a cardboard box. 

Edited by TonyTexas
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Pescado_Rojo

Pescado_Rojo 19,416

Posted
Posted
1 hour ago, TonyTexas said:

That OXY severance auction is some real Hunger Games shit. 

I've worked at a company that rolled out a voluntary severance package after a big merger, but the company set the rate. 2 months guaranteed, plus 1 month of your current salary for every year of employment. A lady on my team walked away with almost 2 years salary, took 3 months off, then walked right into a better paying job with a software company. 

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Fudge Nuggets

Fudge Nuggets 19,190

Posted
Posted
59 minutes ago, DCA_HORN said:
1 hour ago, Fudge Nuggets said:
I never said they were going to do it right now and they may never do it.  But if they decide to get back in the game, rest assured it won’t be with their own money.

Where do you suggest the money will come from?


 

They will go to capital markets

Just because the capital markets are frozen now doesn’t mean they will remain frozen forever.

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Parliament

Parliament 14,254

Posted
Posted
The lowest bidders leave if the price is acceptable to Oxy, the high bidders get fired. 
That is awesome...ly assholish.
I've worked at a company that rolled out a voluntary severance package after a big merger, but the company set the rate. 2 months guaranteed, plus 1 month of your current salary for every year of employment. A lady on my team walked away with almost 2 years salary, took 3 months off, then walked right into a better paying job with a software company. 
Yep. I know plenty of people who've doubled up like that.
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Angry Gorilla

Angry Gorilla 1,766

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8 minutes ago, Parliament said:

Yep. I know plenty of people who've doubled up like that.

My company got acquired by a larger company, and we got...

1 year salary worth of stock that vested immediately
1 year salary of retention bonus (paid if we stayed for a year)
1 year salary and benefits severance if our jobs went away before the year was up

Somehow our executive committee was able to negotiate that we were eligible for both the retention bonus and severance if our job went away or they closed our office within a year.  I kept my job for 5 months, coming in at 10am, going to a movie or playing golf in the afternoon, and leaving at 3pm.  I then found a new job, so I emailed the new HR department and said my job responsibilities went away, and they fought it until I pointed out my new "boss" hadn't called or emailed me in 4 months.  I walked away with 3x salary.

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BLKNSTY

BLKNSTY 289

Posted
Posted
My company got acquired by a larger company, and we got...
1 year salary worth of stock that vested immediately
1 year salary of retention bonus (paid if we stayed for a year)
1 year salary and benefits severance if our jobs went away before the year was up
Somehow our executive committee was able to negotiate that we were eligible for both the retention bonus and severance if our job went away or they closed our office within a year.  I kept my job for 5 months, coming in at 10am, going to a movie or playing golf in the afternoon, and leaving at 3pm.  I then found a new job, so I emailed the new HR department and said my job responsibilities went away, and they fought it until I pointed out my new "boss" hadn't called or emailed me in 4 months.  I walked away with 3x salary.

fuck I’m wet. what industry?
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DCA_HORN

DCA_HORN 725

Posted
Posted
My company got acquired by a larger company, and we got...
1 year salary worth of stock that vested immediately
1 year salary of retention bonus (paid if we stayed for a year)
1 year salary and benefits severance if our jobs went away before the year was up
Somehow our executive committee was able to negotiate that we were eligible for both the retention bonus and severance if our job went away or they closed our office within a year.  I kept my job for 5 months, coming in at 10am, going to a movie or playing golf in the afternoon, and leaving at 3pm.  I then found a new job, so I emailed the new HR department and said my job responsibilities went away, and they fought it until I pointed out my new "boss" hadn't called or emailed me in 4 months.  I walked away with 3x salary.
What company? Asking for a friend.
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Fudge Nuggets

Fudge Nuggets 19,190

Posted
Posted

My dad worked for SmallCo and was given a full severance package in 2009 after 40 years with the company.   I don't know the exact details, but apparently it was about 2 years' worth of full salary.

Six months later he started contract consulting for IndyCo and finagled his way into a full-time employee situation within a year.  After a few months on staff, IndyCo was taken over by SmallCo.  A year after that he was let go again (because old) but worked out an agreement that his previous years with SmallCo would be used to determine his second severance - another 2+ years salary.  In about three years he walked away with probably the equivalent of 5 / 6 years salary.

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Okie State

Okie State 3,818

Posted
Posted
My dad worked for SmallCo and was given a full severance package in 2009 after 40 years with the company.   I don't know the exact details, but apparently it was about 2 years' worth of full salary.
Six months later he started contract consulting for IndyCo and finagled his way into a full-time employee situation within a year.  After a few months on staff, IndyCo was taken over by SmallCo.  A year after that he was let go again (because old) but worked out an agreement that his previous years with SmallCo would be used to determine his second severance - another 2+ years salary.  In about three years he walked away with probably the equivalent of 5 / 6 years salary.
Man that's the dream scenario working in this industry. Severance package on the way out to retirement.
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jeevsie

jeevsie 3,733

Posted
Posted
21 hours ago, Angry Gorilla said:

My company got acquired by a larger company, and we got...

1 year salary worth of stock that vested immediately
1 year salary of retention bonus (paid if we stayed for a year)
1 year salary and benefits severance if our jobs went away before the year was up

Somehow our executive committee was able to negotiate that we were eligible for both the retention bonus and severance if our job went away or they closed our office within a year.  I kept my job for 5 months, coming in at 10am, going to a movie or playing golf in the afternoon, and leaving at 3pm.  I then found a new job, so I emailed the new HR department and said my job responsibilities went away, and they fought it until I pointed out my new "boss" hadn't called or emailed me in 4 months.  I walked away with 3x salary.

5f9c381872f254ae579c5c1a03ab0377-origina

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BevoSwag

BevoSwag 272

Posted
Posted (edited)
On 5/2/2020 at 11:49 PM, MaybeACoordinator said:

95586962_10157219095522335_1040136896069

Seems legit from checking out the Reddit thread. Bosses told workers furlough was ending early and for everybody to come in Monday so... they can be unfurloughed and immediately laid off. Maybe you could pull a variant on the Costanza and just not show up Monday and hide out at home for awhile.  

When I worked for Good Hope refining the asshole owner would have called you in, told you to help pack the boxes for "storage" and then fire you when you completed the job.  Complete with security walking you out the door.

Edited by BevoSwag
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Cajun

Cajun 11,705

Posted
Posted

If there's any truth to this, might wanna factor it in.  Big "IF"...

http://www.china.org.cn/china/Off_the_Wire/2020-05/07/content_76017229.htm

Quote

CHENGDU, May 7 (Xinhua) -- An oilfield branch of PetroChina, China's largest oil and gas producer, announced their discovery of a huge natural gas belt with an estimated reserve of over 1 trillion cubic meters in southwest China's Sichuan Province.

The PetroChina Southwest Oil and Gasfield Company (SWOG) completed a successful test of prospecting for oil and gas in Tianbao Township of Daying County, which had a daily output of 1.22 million cubic meters of gas, according to the SWOG.

The belt, some 130 km away from the provincial capital of Chengdu, neighbors the gasfield in the Gaoshiti-Moxi area in the middle part of the Sichuan Basin, where the current natural gas production capacity reaches 15 billion cubic meters annually.

Based in Chengdu, SWOG supplies natural gas to more than 1,000 large and medium-sized industrial companies and more than 20 million households in southwest China. Enditem

 

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Parliament

Parliament 14,254

Posted
Posted
If there's any truth to this, might wanna factor it in.  Big "IF"...
http://www.china.org.cn/china/Off_the_Wire/2020-05/07/content_76017229.htm

CHENGDU, May 7 (Xinhua) -- An oilfield branch of PetroChina, China's largest oil and gas producer, announced their discovery of a huge natural gas belt with an estimated reserve of over 1 trillion cubic meters in southwest China's Sichuan Province.

The PetroChina Southwest Oil and Gasfield Company (SWOG) completed a successful test of prospecting for oil and gas in Tianbao Township of Daying County, which had a daily output of 1.22 million cubic meters of gas, according to the SWOG.

The belt, some 130 km away from the provincial capital of Chengdu, neighbors the gasfield in the Gaoshiti-Moxi area in the middle part of the Sichuan Basin, where the current natural gas production capacity reaches 15 billion cubic meters annually.

Based in Chengdu, SWOG supplies natural gas to more than 1,000 large and medium-sized industrial companies and more than 20 million households in southwest China. Enditem

 
It's China. I want proof.
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Storm the Field

Storm the Field 5,294

Posted
Posted
2 minutes ago, BTW said:

$32.75

This makes zero sense to me, this is all sentiment right?  There can't be a fundamental case for a return to these prices.

Well, there have been some rather drastic supply reductions, in a very short amount of time. Initial estimates were that US producers would take 1.5M barrels/day off the market by June. We've already exceeded that, two weeks into May. 

That, and demand is starting to improve. Reports today that Chinese traffic congestion is back to pre-covid levels. India also seeing a major uptick in demand for diesel compared to last month.

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