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Started By
Message
Shaw Group purchased by CB&I for $3 Billion..
Posted on 7/30/12 at 7:17 am
Posted on 7/30/12 at 7:17 am
11
Posted on 7/30/12 at 7:45 am to shipshoal
quote:
I hope this doesn't mean consolidation of jobs out of Baton Rouge.
That's what I thought as soon as I read this news. I've got several friends who work there (or related companies).
Does anyone have any inside info as to what this will mean for BR jobs?
Posted on 7/30/12 at 7:47 am to shipshoal
This can't be good for BR.
Posted on 7/30/12 at 7:49 am to TigerWerm
You certainly won't see the pipeline of LSU grads into management.
Posted on 7/30/12 at 7:49 am to TheHiddenFlask
quote:
This can't be good for BR.
Kinda surprised it's not worth more.
Posted on 7/30/12 at 8:02 am to C
70% premium on Shaw stock....too bad I own the one doing the buying...
Posted on 7/30/12 at 8:06 am to shipshoal
Valuation seems full. Big cash slug too. I would take this if I were a SHAW equity holder.
Looks like Bernhard is out as well.
Looks like Bernhard is out as well.
Posted on 7/30/12 at 8:12 am to Athanatos
Good deal for Shaw, not a very well managed company and weren't going anywhere fast. Just my $.02.
Posted on 7/30/12 at 8:14 am to Athanatos
quote:
I would take this if I were a SHAW equity holder.
Agreed.
Posted on 7/30/12 at 8:26 am to Athanatos
quote:
I would take this if I were a SHAW equity holder.
It's a slam dunk for the share holders.
Posted on 7/30/12 at 8:31 am to TheHiddenFlask
quote:
This can't be good for BR.
BRMAOOC
Posted on 7/30/12 at 8:45 am to TigerWerm
quote:
Does anyone have any inside info as to what this will mean for BR jobs?
No major changes for BR.
Posted on 7/30/12 at 8:57 am to Golfer
Int'l Corporate HQ to remain in The Hague with national HQ being relocated to The Woodlands, Texas where CB&I is currently based. No major staff reductions until after merger is complete but once merger is confirmed expect significant layoffs from Shaw's BR HQ. administrative, HR, accounting, corporate exec to take brunt due to duplication of job functions between both companies. BR will take a significant hit is what I was told this weekend.
This post was edited on 7/30/12 at 9:05 am
Posted on 7/30/12 at 9:01 am to Golfer
They always say no major changes.
Don't think too many more local people will be hired for management track.
Don't think too many more local people will be hired for management track.
Posted on 7/30/12 at 9:02 am to GetBackToWork
quote:
They always say no major changes.
I'm not getting this from a press release, FWIW.
And yes, I know "They Always Say No Major Changes"
Posted on 7/30/12 at 9:06 am to GetBackToWork
I dunno...this is a fairly new business sector for CBI. CBI has gone through a couple of acquisitions in the last 8 or so years - John Brown in London and then ABB's Lummus - and they didnt consolidate all that much, leaving each company's main offices in tact. Shaw's too big and too different to try and consolidate all of that in Houston/Woodlands.
Posted on 7/30/12 at 9:11 am to shipshoal
I can't see how this is a good thing for Louisiana.
Posted on 7/30/12 at 9:15 am to dewster
It's not a good thing for Louisiana but it will be devastating for Baton Rouge. There will be significant redistribution of corporate divisions out of La and into Texas because of tax benefits which help bottom line significantly.
Posted on 7/30/12 at 9:31 am to MrLSU
quote:
It's not a good thing for Louisiana but it will be devastating for Baton Rouge. There will be significant redistribution of corporate divisions out of La and into Texas because of tax benefits which help bottom line significantly.
A voice of reason. Anyone expecting no major changes will be in for a rude awakening.
This will hit aspects of life across BR. Wonder what TAF thinks about this - how many season tickets and donations do you think result from a Shaw related source? Their management fills quite a few spots at local country clubs. Non-profits will take a hit. How much Shaw related travel/entertainment fill restaurants or hotels?
Posted on 7/30/12 at 9:49 am to GetBackToWork
I think TAF gets a good % of the recent stock rise and higher level management cashing out. However; in the long run this is a significant blow to BR, LSU and then Louisiana in that order imo.
As an LSU Engineer, I'm disappointed to hear of this merger.
As an LSU Engineer, I'm disappointed to hear of this merger.
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