'oliver.gump' pid='74773' datel Wrote:In 2013, PM was in negotiation with XOM, and he had gotten them to the point of signing a deal that was far better than the one XOM have offered now.
But the BOD (spearheaded by Gaylen Byker, Roger Lewis, and Ford Nicholson) and assisted by Bill Jasper and Collin Visaggio, torpedoed PM. Byker and Nicholson were actually undermining PM to XOM in order to derail the negotiations.
Since then we have seen a significant devaulation of IOC that has come from a confluence of factors, including share value dilution, abusive salary and bonus compensation for the BOD and the executives, and the markets overall view of the competence of the BOD and the Management, in particular the CEO and his pet Chariman.
Now, three years later, XOM comes in with a lowball offer and is poised to take the farm for much less than it was prepared to pay for part of it three years ago. They must be rolling on the floor laughing at IOC management.In short, the BOD screwed us, the CEO screwed us, and XOM is screwing us, and there are some people that still think Teflon Mike has the best interests of the shareholders in mind.
In almost any other context, this chain of events would have lead to a combination of hilarity and death, however here we have people who are directly affected simply shruggin and saying "Hey, what can I do about it?" and reaching for the lube.What you can do about it is to vote: NO, and push XOM to sweeten the deal.
Voting yes, is simply looking at the abuser, and suggesting diplomatically, "please dont hurt me any more than you feel the urge to do..."