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Major LSU donor, Jim Flores, Steps down from Freeport-McMoran
Posted on 4/5/16 at 10:46 am
Posted on 4/5/16 at 10:46 am
quote:LINK
The top executives at Freeport-McMoRan Oil & Gas, including Chief Executive Officer and LSU benefactor Jim Flores, are departing as part of a cost-cutting organizational shake-up.
Parent company Freeport-McMoRan Inc. announced the move Tuesday. The other executives are Doss Bourgeois, president and chief operating officer; Winston Talbert, executive vice president and chief financial officer; and John Wombwell, executive vice president and general counsel. The four have served as executive management for the oil and gas segment since Freeport-McMoRan acquired Plains Exploration Co. in 2013.
Flores, a Lafayette native, has donated millions to LSU and helped the school’s master’s of business administration program gain national recognition.
This post was edited on 4/5/16 at 10:49 am
13
Posted on 4/5/16 at 10:47 am to Dire Wolf
That's a big corporate shake-up.
Posted on 4/5/16 at 10:47 am to Dire Wolf
Panama papers? I really didn't give a shite before. But if they start fricking up LSU athletics, I may have to try and understand what they are.
Posted on 4/5/16 at 10:51 am to LucasP
Not at all related to PP. Downsizing O&G side.
Posted on 4/5/16 at 10:52 am to The Bruce
Good. I didn't wanna read all that shite.
Posted on 4/5/16 at 10:52 am to LucasP
The panama papers is a massive leak of millions of pages of documents belonging to a panama law firm which specialized in setting up dummy corporations and bank accounts which wealthy individuals and corporations used to evade taxes.
Posted on 4/5/16 at 10:53 am to Dire Wolf
I think he had also donated a bunch of money to renovate the Houston Petroleum Club, thus why it had the LSU logo/gear in it
Posted on 4/5/16 at 10:53 am to Dire Wolf
Poor guy. He'll probably have to set up a Go Fund Me to keep all his gardeners.
Look at this dang garden tour!
Look at this dang garden tour!
This post was edited on 4/5/16 at 10:58 am
Posted on 4/5/16 at 10:56 am to kingbob
Great, that affects LSU athletics how?
Posted on 4/5/16 at 11:00 am to GaryMyMan
Definitely not anything involved with the P. Papers.
I sat at a table with a geologist and some petroleum engineers at the last LGS meeting in Lafayette.
We got on Freeport-McMoran, apparently their in shite up to their eyeballs. They are currently looking for a private firm to bring in a bunch of equity.
I also heard they shut down one of their mines in Arizona, which might have been the last one left.
I don't know what their cash vs debts are, but I guarantee you it's pretty bad, probably not Stone Energy bad but definitely in the range for some Top Execs to be let go. Especially if they are responsible for their position at this time.
I sat at a table with a geologist and some petroleum engineers at the last LGS meeting in Lafayette.
We got on Freeport-McMoran, apparently their in shite up to their eyeballs. They are currently looking for a private firm to bring in a bunch of equity.
I also heard they shut down one of their mines in Arizona, which might have been the last one left.
I don't know what their cash vs debts are, but I guarantee you it's pretty bad, probably not Stone Energy bad but definitely in the range for some Top Execs to be let go. Especially if they are responsible for their position at this time.
This post was edited on 4/5/16 at 11:01 am
Posted on 4/5/16 at 11:01 am to LucasP
If a major donor is found to have been utilizing that firm to hide assets from the IRS, they could be facing serious asset siezure and prison time, which would mean no more donations.
Posted on 4/5/16 at 11:03 am to kingbob
Roger that. You'll let us know, correct?
Posted on 4/5/16 at 11:14 am to Dire Wolf
You should see this guy's duck hunting camp in White Lake. Huge place out in the middle of marsh. Can only get there by helicopter of airboat.
Posted on 4/5/16 at 11:22 am to BigBuckTurd
Maybe he can ask Scott Angelle for that $1 million back.
Posted on 4/5/16 at 11:33 am to Dire Wolf
Jim Bob Moffett left the company a few months ago. FM has no resemblance to the company it used to be. I would not own the stock.
Posted on 4/5/16 at 11:41 am to GaryMyMan
quote:
Look at this dang garden tour!
During Christmas the tree in the top left corner of the picture has lights on almost every branch. It looks pretty bad arse.
Posted on 4/5/16 at 11:56 am to Dire Wolf
Where do I apply for this new opening?
Posted on 4/5/16 at 12:52 pm to LucasP
quote:
Great, that affects LSU athletics how?
Moving to BR and taking over as LSU AD.
Posted on 4/5/16 at 12:59 pm to Dire Wolf
FMI is my main client (the mining portion of their company). They have a current plan to sell off $5-10 billion in assets and stakes in the company over the next several months for debt reduction as well as an injection of cash. Their acquisition of Plains was probably the worst investment they ever made. They never imagined oil prices would plummet like they did. Horrible timing.
Posted on 4/5/16 at 1:12 pm to Dire Wolf
crazy. my dad's a good friend of his, i'll try and get teh scoop
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