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Posted on 8/25/16 at 8:22 pm to djangochained
I guess I shouldn't phrase it like that. But yes they are definitely pursuing them with great gusto
Posted on 8/25/16 at 8:25 pm to wal marks
Epic's facility in Livingston is state of the art. The welding building is conditioned. If you were a welder here would you want to work, a ventilated warehouse or conditioned area at the same pay rate.... How much more would they have to pay you to work in the unconditioned facility?
I have been waiting to see how his companies grow/turnout. It hasn't even been but a year and a half since his no compete ended. And since then he has amassed a huge coffer with bernhard Capitol, and has a huge commercial construction footprint with Bernhard, LLC
I have been waiting to see how his companies grow/turnout. It hasn't even been but a year and a half since his no compete ended. And since then he has amassed a huge coffer with bernhard Capitol, and has a huge commercial construction footprint with Bernhard, LLC
Posted on 8/25/16 at 8:28 pm to tigeraddict
How many spools a month they running thru that shop?
Posted on 8/25/16 at 8:29 pm to Capt ST
They high as giraffe pussy
Posted on 8/25/16 at 8:32 pm to Capt ST
quote:
How many spools a month they running thru that shop?
Not many...but they have an air conditioned shop
Posted on 8/25/16 at 8:33 pm to djangochained
They make up for it with production.
Posted on 8/25/16 at 8:37 pm to Capt ST
What's that mean ?
I can pay 20% less and get a comparable product
I can pay 20% less and get a comparable product
Posted on 8/25/16 at 8:38 pm to tigeraddict
As one who buys fabricated pipe and steel regularly, I'll tell you I don't give a shite about an air conditioned fab shop. As of right now, no one can beat the oil field guys that are hurting for business. I hate it for them, but they're fab prices are insane right now, and I'll gladly send work their way.
Posted on 8/25/16 at 8:40 pm to Jim Smith
quote:
Shaw was pretty much like a ponzi scheme. They would include in their revenue contracts that were signed but the work may have never materialized. The company was a big ole steaming pile of shite wrapped in gold tin foil and CB&I fell for it. They made money by making people believe how great they were through flashy press releases.
Every company I've been a part of has included revenue from new contracts in their backlog. That unearned revenue is a liability on the balance sheet, unless you're saying they were including new revenue as a receivable which seems highly unlikely.
Posted on 8/25/16 at 8:43 pm to djangochained
That was a joke. They can't honestly be bidding 20% over the regional rate. It's not like they aren't looking up their competitions skirt with their relationships. I can't see him not buying work to get the shop running, he's sitting on a ton of cash.
Posted on 8/25/16 at 8:43 pm to PhilemonThomas
quote:
Are Shaw 2.0 employees allowed to ride the elevator with Bernhard?
I hopped in a crowded elevator once and he was in there. I was headed out to do field work and made the mistake of having a hat on in the building. Felt a tap on my shoulder and turned around to see him staring at me. He asked me to take my hat off then asked "what do you do for me?". I told him I was sampling at a casket company and he was apparently so intrigued he asked my boss to do a summary of operations write up and send it to him. I caught hell in the office for a couple weeks after that
I hear he's fired many people in that elevator
Posted on 8/25/16 at 8:45 pm to Giantkiller
Warning sign to me at Shaw was the political activity of the CEO. He was so active and partisan it was clear the company was not his primary concern.
Posted on 8/25/16 at 8:48 pm to I B Freeman
When they announced the buy out, there was a live conference call with all the offices. He opened it up for questions after the announcement and the first question was "are you running for a political office?".
Posted on 8/25/16 at 8:49 pm to GaryMyMan
quote:
"They have this nice building*, what could go wrong?"
*that was actually built by another large failed BR corporation.
The building of Essen was built and is owned by Wompold. He has hardly failed.
And the other about revenue it is mark to market accounting.
Posted on 8/25/16 at 9:00 pm to Martini
quote:
And the other about revenue it is mark to market accounting.
You can call whatever term those guys from Enron called it, makes no difference. Book job in 2003 for 750 million, show job making 100 mil in '04 and '05, lose 450mil on project, file suit for 500mil, show job in black. Lose in court, buy another company, take a 450 mil write down, claim new company's backlog and it all looks good again. Book another project, repeat
Posted on 8/25/16 at 9:07 pm to Capt ST
I'm telling you what it is called. Not whether it is good or bad and I don't need a lesson on how it works. I've known Jim Bernhard and all the other Bernhards all my life. I know how he operates.
Posted on 8/25/16 at 9:10 pm to EarthwormJim
quote:
Every company I've been a part of has included revenue from new contracts in their backlog. That unearned revenue is a liability on the balance sheet, unless you're saying they were including new revenue as a receivable which seems highly unlikely.
So, being included on a $1B possible IDIQ, no work of which has been included, means that Shaw should report that as backlog? That's fricking laughable.
Posted on 8/25/16 at 9:15 pm to upgrayedd
quote:
I hopped in a crowded elevator once and he was in there. I was headed out to do field work and made the mistake of having a hat on in the building. Felt a tap on my shoulder and turned around to see him staring at me. He asked me to take my hat off then asked "what do you do for me?". I told him I was sampling at a casket company and he was apparently so intrigued he asked my boss to do a summary of operations write up and send it to him. I caught hell in the office for a couple weeks after that
The guy is such a fricking a-hole. "What do you do for me"? Who says that?
Posted on 8/25/16 at 9:17 pm to Jim Smith
quote:
The guy is such a fricking a-hole. "What do you do for me"? Who says that?
That was a very common question for him to ask. He's a major league a-hole.
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